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Third Expressway to be constructed in Ethiopia

The Ethiopian Roads Authority (ERA) is considering only Chinese companies for the construction of the nation’s third expressway, which will extend the Addis-Adama Expressway, with an estimated cost of 12 billion Br it secured from the EX-IM Bank of China. For the project, the Authority re-ann...

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Zemen Bank to award 10 mil birr to Ermias Amelga by court ruling

Justices at the appellate court of the highest instance have dismissed an appeal by Zemen Bank to overrule a Supreme Court award of over 10 million Br to Ermias Amelga and Tekle Almeneh, founding shareholders of the Bank. The Cassation’s ruling concludes the judicial litigation once and for a...

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Dusit Thani Resort Coming to Ethiopia

Fretsega Real Estate & Construction has partnered with Dusit International Hotels and Resorts and they are in the final stage of bringing a Dusit Thani resort to Ethiopia, with a 150 million dollar investment. The agreement was signed three weeks ago after a year-long negotiation between the pr...

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Supreme Court Exonerates Fikru Maru

Justices of the Supreme Court have ruled acquitting Fikru Maru (MD), a cardiovascular specialist and hospital owner, overruling an earlier conviction of corruption given by a lower court which sentenced him to four years and eight months. An appeal lodged by Fikru pleading reversal of the ruling re...

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Habesha to Expand in Budding Brewery Industry

Habesha Breweries S.C. has started an effort to double up its annual production capacity to 1.5 million hectolitres. The project is likely to cost  a billion Br, according to sources. The company, whose market share is around 13pc, is undertaking the expansion project in its 7.5ha plant locate...

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Roads Authority Awards the Most Expensive Road Project

The Ethiopian Roads Authority (ERA) has signed an agreement with Rama Construction Plc for the construction of the so far most expensive road project at a cost of 69.2 million Br a kilometre. The road, extending from Azezo-Gonder, covers 12.6 kilometres and will be constructed at a total cost of 87...

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Hyundai Set to Assemble Locally

After over seven years of importing vehicles to the local market, Marathon Motors Engineering Plc is to construct a commercial vehicle assembly plant in partnership with Hyundai Motor Manufacturing, in the outskirts of the city. Marathon is expected to officially sign a deal with the South Korean g...

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Access Capital Bursts Back on the Scene, Keeps Ermias as a Chairman

After three years of silence, the contentious Access Capital Services S.C. has voted for the embattled Ermias Amelga to continue as a board chairman of the company. The move comes a year and a half after the Board of Directors of Access Real Estate had removed him from the same position. Access Cap...

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Prev Next

Third Expressway to be constructed in Ethiopia

The Ethiopian Roads Authority (ERA) is considering only Chinese companies for the construction of the nation’s third expressway, which will extend the Addis-Adama Expressway, with an estimated cost of 12 billion Br it secured from the EX-IM Bank of China. For the project, the Authority re-ann...

Read more

Zemen Bank to award 10 mil birr to Ermias Amelga by court ru…

Justices at the appellate court of the highest instance have dismissed an appeal by Zemen Bank to overrule a Supreme Court award of over 10 million Br to Ermias Amelga and Tekle Almeneh, founding shareholders of the Bank. The Cassation’s ruling concludes the judicial litigation once and for a...

Read more

Dusit Thani Resort Coming to Ethiopia

Fretsega Real Estate & Construction has partnered with Dusit International Hotels and Resorts and they are in the final stage of bringing a Dusit Thani resort to Ethiopia, with a 150 million dollar investment. The agreement was signed three weeks ago after a year-long negotiation between the pr...

Read more

Supreme Court Exonerates Fikru Maru

Justices of the Supreme Court have ruled acquitting Fikru Maru (MD), a cardiovascular specialist and hospital owner, overruling an earlier conviction of corruption given by a lower court which sentenced him to four years and eight months. An appeal lodged by Fikru pleading reversal of the ruling re...

Read more

Habesha to Expand in Budding Brewery Industry

Habesha Breweries S.C. has started an effort to double up its annual production capacity to 1.5 million hectolitres. The project is likely to cost  a billion Br, according to sources. The company, whose market share is around 13pc, is undertaking the expansion project in its 7.5ha plant locate...

Read more

Roads Authority Awards the Most Expensive Road Project

The Ethiopian Roads Authority (ERA) has signed an agreement with Rama Construction Plc for the construction of the so far most expensive road project at a cost of 69.2 million Br a kilometre. The road, extending from Azezo-Gonder, covers 12.6 kilometres and will be constructed at a total cost of 87...

Read more

Hyundai Set to Assemble Locally

After over seven years of importing vehicles to the local market, Marathon Motors Engineering Plc is to construct a commercial vehicle assembly plant in partnership with Hyundai Motor Manufacturing, in the outskirts of the city. Marathon is expected to officially sign a deal with the South Korean g...

Read more

Access Capital Bursts Back on the Scene, Keeps Ermias as a C…

After three years of silence, the contentious Access Capital Services S.C. has voted for the embattled Ermias Amelga to continue as a board chairman of the company. The move comes a year and a half after the Board of Directors of Access Real Estate had removed him from the same position. Access Cap...

Read more

Pizza Hut to open in Addis

Pizza Hut, a division of Yum! Brands Inc will be introducing the first US chain restaurant in Ethiopia within the next six months. Pizza Hut signed the agreement with Belayab Foods and Franchises on Wednesday April 26, 2017. Although it might change in the long term, initially all ingredients for th...

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Shangri-La bids for Hilton takeover

Shangri-La Hotels and Resorts potentially want to partner with the government to run the hospitality business in Ethiopia when the current international partner Hilton Worldwide concludes its association in the next couple of years. The Asian multinational hospitality giant has already expressed it...

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