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[Aug 2017] Belayneh Kindie Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Belayab, KIA Motors unveil cars assembled for Ethiopian market

Belayab Motors announced its partnership with KIA Motors Corporation for the assembly and sale of KIA automobiles in Ethiopia. The two companies was officially unveiled a number of car models that have been assembled, on Thursday, May 11, 2017 at the Sheraton Hotel.

Belayab Motors has established its assembly factory in Adama and has started to assemble RIO and PICANTO models for the market.

“Our company has already assembled RIO and PICANTO, two popular sedan car models and is in the process of introducing several

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Ministry Rations Imported Edible Oil, 40m litres Monthly

The Ministry of Trade (MoT) has rationed the 40 million litres monthly import of edible oil among nine businesses which were previously selected.

The nine businesses include three endowments, one government and five private companies. The MoT selected these out of 300 businesses which had been engaged in the importation of edible oil, of which 70 were still active when the ban was imposed.

Recently, the government decided to lift the ban which had been in place since 2011, preventing private companies from importing edible

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Government to Lift Ban on Private Companies’ Import of Palm Oil

The government, which has been reassessing the ban on the importation of palm oil by private companies, in effect since May 2011, is to lift the ban beginning August 6, 2015.

The lifting of the ban will still preclude the participation of previous major importers such as Get-AS International, Camel Trading Enterprise and Country Trading.

These were among the six major importers along with Al-Sam International and AHFA Plc, who had collectively imported 13 million litres of palm oil in 2011, which the government took from

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Commercial bank of Ethiopia (CBE) earns 1.1 million USD from Exports

CBE Award dollar[2013]

Ephrem Mekuria, communication manager with CBE, told The Reporter that the bank earned a total of USD 5.8 billion from international banking department (IBD) in the budget year. Ephrem said exporters brought USD 1.1 billion from the export and the remaining was earned from remittance and other transactions.

The bank made a gross profit of 8.4 billion birr.

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Commercial Bank of Ethiopia (CBE) Awards Ethiopia's Top Dollar Earning Companies

The Commercial Bank of Ethiopia (CBE) honoured exporters and money transfer agents who promoted the bank’s portfolio in terms of earning huge foreign exchange here Thursday at Sheraton Addis. The award is aimed at recognizing them and strengthening the export sector. The Bank has been giving its services for the last 70 years uninterruptedly regardless of changes of government.

The exporters are those engaged in money transfer, coffee, leather, textile and mineral sectors. MIDROC Ethiopia, Western Union and Dehabshiil Money

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