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Zemen Bank Laying Foundations for 1.23 Billion Br headquarters

Zemen Bank have inked a deal with a foreign construction company to erect its headquarters at the heart of Ethiopia’s financial district, along Ras Abebe Aregay Street, at a cost of 1.23 billion Br. The signing was held at the Radisson Blu Hotel on August 19, 2016, by Tsegaye Tetmke, presiden...

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Commercial Bank of Ethiopia Boasts Positive 2015 / 2016 Fiscal Performance

The Commercial Bank of Ethiopia (CBE) has boasted a generally positive assessment of its banking operations in the recently concluded 2015/16 fiscal year. The bank’s report comes a few months after it merged with the Construction and Business Bank of Ethiopia. The merger gave the state-owned ...

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Addis Abeba Bottle & Glass Company Completes Phase One Expansion

The 40-year-old Addis Abeba Bottle & Glass Company has completed an expansion project worth half a billion birr. With this, it has increased its capacity to 81 million bottles a year. As it stands, it has a capacity of producing less than quarter this amount – 20 million bottles. “...

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NBE Bans Two Zemen Bank Vice Presidents

Zemen Bank has lost two of its top-executive mangers, Helaway Tadesse and Sebhat Belayneh, senior vice president and vice-president for international banking  respectively, based on the allegation that they have involved in loan approval process, in which they are believed to have a close relat...

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Some charges dropped for the businessmen and government officials Corruption Cas…

The high profile corruption case brought against high ranking government officials and prominent businessmen back in October 2013 by the Federal Ethics & Anti-Corruption Commission, last week saw the High Court dropping some charges and upholding others. Despite having some charges dropped, all...

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Japan Tobacco Seals $510m dear to buy 40pc share of shares of National Tobacco E…

Japan Tobacco International (JTI) has finally sealed a deal, following its record high offer in Ethiopia’s privatisation history – half a billion dollars for the acquisition of 40pc of the National Tobacco Enterprise. The deal between the Ministry of Public Enterprises and Japan Interna...

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Addis Abeba’s 10th Master Plan Sees 13 Districts

Two years after Addis Abeba’s ninth master plan was phased out, the tenth master plan, integrating socio-economic aspects of Ethiopia’s capital city, is now officially out for public discussion. This comes soon after the controversial integrated Addis Abeba & Surrounding Oromia Speci...

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Ermias’ Failures Leads to Snatching of Shares of Michot Real Estate

Michot Real Estate, one of the companies founded and run by Ermias T. Amelga, has lost 30,000 shares worth 30 million birr to Aman Berki, the general manager of Tulu Dimtu Real Estate. The shares were transferred to Aman Berki through a court order after they were floated for auction over the past ...

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Prev Next

Zemen Bank Laying Foundations for 1.23 Billion Br headquarte…

Zemen Bank have inked a deal with a foreign construction company to erect its headquarters at the heart of Ethiopia’s financial district, along Ras Abebe Aregay Street, at a cost of 1.23 billion Br. The signing was held at the Radisson Blu Hotel on August 19, 2016, by Tsegaye Tetmke, presiden...

Read more

Commercial Bank of Ethiopia Boasts Positive 2015 / 2016 Fisc…

The Commercial Bank of Ethiopia (CBE) has boasted a generally positive assessment of its banking operations in the recently concluded 2015/16 fiscal year. The bank’s report comes a few months after it merged with the Construction and Business Bank of Ethiopia. The merger gave the state-owned ...

Read more

Addis Abeba Bottle & Glass Company Completes Phase One E…

The 40-year-old Addis Abeba Bottle & Glass Company has completed an expansion project worth half a billion birr. With this, it has increased its capacity to 81 million bottles a year. As it stands, it has a capacity of producing less than quarter this amount – 20 million bottles. “...

Read more

NBE Bans Two Zemen Bank Vice Presidents

Zemen Bank has lost two of its top-executive mangers, Helaway Tadesse and Sebhat Belayneh, senior vice president and vice-president for international banking  respectively, based on the allegation that they have involved in loan approval process, in which they are believed to have a close relat...

Read more

Some charges dropped for the businessmen and government offi…

The high profile corruption case brought against high ranking government officials and prominent businessmen back in October 2013 by the Federal Ethics & Anti-Corruption Commission, last week saw the High Court dropping some charges and upholding others. Despite having some charges dropped, all...

Read more

Japan Tobacco Seals $510m dear to buy 40pc share of shares o…

Japan Tobacco International (JTI) has finally sealed a deal, following its record high offer in Ethiopia’s privatisation history – half a billion dollars for the acquisition of 40pc of the National Tobacco Enterprise. The deal between the Ministry of Public Enterprises and Japan Interna...

Read more

Addis Abeba’s 10th Master Plan Sees 13 Districts

Two years after Addis Abeba’s ninth master plan was phased out, the tenth master plan, integrating socio-economic aspects of Ethiopia’s capital city, is now officially out for public discussion. This comes soon after the controversial integrated Addis Abeba & Surrounding Oromia Speci...

Read more

Ermias’ Failures Leads to Snatching of Shares of Michot Real…

Michot Real Estate, one of the companies founded and run by Ermias T. Amelga, has lost 30,000 shares worth 30 million birr to Aman Berki, the general manager of Tulu Dimtu Real Estate. The shares were transferred to Aman Berki through a court order after they were floated for auction over the past ...

Read more

Wyndham Inks 3 Hotel Deal with Santa Maria Group Hotels

The Wyndham Hotel Group has signed a 15-year management agreement for three hotels. This pushes the total number of hotels managed by the group in Ethiopia up to four, including the recently opened Ramada Addis – a five-star hotel in the capital. The three new ones include two hotels in Addis...

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Ermias Amelga breaks his silence with apology

After two years in exile and a month since his release on bail from custody, Ermias T.Amelga has broken his silence. He apologised to homebuyers, taking full responsibility for the mishaps at Access Real Estate (ARE). “I may have many excuses, good or bad, and many unexpected events may have ...

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