Advertisements

Prev Next

Oromia International Bank Profits 248 Million birr after tax for 2016/2015 Fisca…

After raising paid up capital from quarter billion to almost a billion Birr, Oromia International Bank (OIB) registered a 249 million Br net profit for the recently ended fiscal year, 12pc higher than the preceding fiscal year. This was disclosed during the Bank’s seventh annual meeting in Mil...

Read more

Awash winery now fully owned by Blue Nile Investments

The protracted privatization process of Awash Winery came to a conclusion after the Ministry of Public Enterprises (MPE) fully transferred shares to – Blue Nile Investment. After several failed auctions, the winery was transferred to Blue Nile Investment in July 2013, at a price of around 460...

Read more

Cooperative Bank of Oromia (CBO) profits 39 ml birr only for 2016, 273 ml birr d…

The Cooperative Bank of Oromia (CBO) has reported an eightfold decline in its profit, from 312 million Br to below 40 million Br. This kind of a slide is rare in the private banking industry. “This is a very shocking performance,” said Abdulmenan Mohammed Hamza, accounts manager at Port...

Read more

United Bank Profits 339 million birr for 2016 fiscal year

United Bank S.C. has shown a profit of 339 million Br this year, 20pc higher than last fiscal year. The bank’s growth rate is higher than the average rate of growth of medium banks, a category that includes Nib Bank, Bank of Abyssinia, Wegagen Bank and United itself. The bank’s earning...

Read more

Royal Tulip to Enter Ethiopian Market with 1 Billion birr, 13 storey hotel

Louvres Hotel Group has signed a 20-year management agreement with Begez Business Group to run the Royal Tulip Plaza Addis Abeba Hotel Luxury Style Collection. The agreement was signed by Sebsebe Teklu, the chairman of Bengez and Alain Sebah, President of the Golden Tulip for French and East African...

Read more

Gibe III was officially inaugurated

Prime Minister Hailemariam Desalegn has officially launched Gibe III hydropower project of the Ethiopian Electric Power. “Attaining development plans without electricity will be difficult for the country,” the Prime Minister told stakeholders at the launch. It was built by Salini Impre...

Read more

Ambo Mineral Water fully privatized

The government has transferred 33pc of its remaining shares in Ambo Mineral Water to Ambo International Holding Ltd for 19.7 million dollars. The deal was made between the company and the Ministry of Public Enterprises (MoPE) on December 15 at the ministry’s premises, located in front of the o...

Read more

Pulp and Paper factory to be setup with 60 Million USD

A newly-established joint venture Purewood Pulp, Paper and Packaging PLC is said to have invested USD 60 million to set up a manufacturing plant on a 68,000sqm plot located inside the Eastern Industry Zone, the first Chinese built and owned industrial park in the country. Mahir Ismail, general mana...

Read more
Prev Next

Oromia International Bank Profits 248 Million birr after tax…

After raising paid up capital from quarter billion to almost a billion Birr, Oromia International Bank (OIB) registered a 249 million Br net profit for the recently ended fiscal year, 12pc higher than the preceding fiscal year. This was disclosed during the Bank’s seventh annual meeting in Mil...

Read more

Awash winery now fully owned by Blue Nile Investments

The protracted privatization process of Awash Winery came to a conclusion after the Ministry of Public Enterprises (MPE) fully transferred shares to – Blue Nile Investment. After several failed auctions, the winery was transferred to Blue Nile Investment in July 2013, at a price of around 460...

Read more

Cooperative Bank of Oromia (CBO) profits 39 ml birr only for…

The Cooperative Bank of Oromia (CBO) has reported an eightfold decline in its profit, from 312 million Br to below 40 million Br. This kind of a slide is rare in the private banking industry. “This is a very shocking performance,” said Abdulmenan Mohammed Hamza, accounts manager at Port...

Read more

United Bank Profits 339 million birr for 2016 fiscal year

United Bank S.C. has shown a profit of 339 million Br this year, 20pc higher than last fiscal year. The bank’s growth rate is higher than the average rate of growth of medium banks, a category that includes Nib Bank, Bank of Abyssinia, Wegagen Bank and United itself. The bank’s earning...

Read more

Royal Tulip to Enter Ethiopian Market with 1 Billion birr, 1…

Louvres Hotel Group has signed a 20-year management agreement with Begez Business Group to run the Royal Tulip Plaza Addis Abeba Hotel Luxury Style Collection. The agreement was signed by Sebsebe Teklu, the chairman of Bengez and Alain Sebah, President of the Golden Tulip for French and East African...

Read more

Gibe III was officially inaugurated

Prime Minister Hailemariam Desalegn has officially launched Gibe III hydropower project of the Ethiopian Electric Power. “Attaining development plans without electricity will be difficult for the country,” the Prime Minister told stakeholders at the launch. It was built by Salini Impre...

Read more

Ambo Mineral Water fully privatized

The government has transferred 33pc of its remaining shares in Ambo Mineral Water to Ambo International Holding Ltd for 19.7 million dollars. The deal was made between the company and the Ministry of Public Enterprises (MoPE) on December 15 at the ministry’s premises, located in front of the o...

Read more

Pulp and Paper factory to be setup with 60 Million USD

A newly-established joint venture Purewood Pulp, Paper and Packaging PLC is said to have invested USD 60 million to set up a manufacturing plant on a 68,000sqm plot located inside the Eastern Industry Zone, the first Chinese built and owned industrial park in the country. Mahir Ismail, general mana...

Read more

Bole International Airport Expansion Project reaches 40%

The Addis Ababa Bole International Airport passenger terminal expansion project is 40 percent completed. The Ethiopian Airports Enterprise (EAE) launched the expansion project in January 2015. The project includes the expansion of Terminal 1 and 2 and the construction of a new VIP Terminal. The exp...

Read more

Enat Banks earns 78.9 million birr net profit for 2016 year

Enat Bank has shown a 50 pc surge in profit, although the huge increase in profit after tax has been consumed by expansion in paid up capital by 47pc A 50pc increase in net profits to 78.9 million Br, has slightly helped Enat to boost its earnings per share (EPS) which are currently at the 167.6 Br...

Read more

Featured Companies

Copyright © 2017 AddisBiz.com