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Hotel grading in Ethiopia Begins for 600 Hotels

Hotel grading in Ethiopia Begins for 600 Hotels

The Ministry of Culture & Tourism (MoCT), together with consultants from United Nations World Tourism Organization (UNWTO) has started grading and accreditation of 200 hotels in Addis Ababa and 400 hotels in the rest of the country starting mid-January, 2015.…

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Wegagen Bank profits 414mln birr

Wegagen Bank profits 414mln birr

During the 21st general assembly held at the Addis Ababa Hilton Hotel, Wegagen Bank announced that it earned 318 million birr in net profits after tax during the 2013/14 fiscal year. Last year it registered 340 million birr net profits.…

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Pittards PLC (Ethiopia) to Increase Production Threefold

Pittards PLC (Ethiopia) to Increase Production Threefold

The British owned Pittards PLC announced that it has been making preparations to boost its production capacity by threefold.

Pittards Project Manufacturing General Manager, Tsedenia Mekbib, said Pittards entered the Ethiopian market in 2011 by purchasing the government owned Ethiopian…

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Dashen Launches Transactional Internet Banking

Dashen Launches Transactional Internet Banking

Dashen Bank S.C started providing transaction internet banking beginning this month having received its license from the National Bank of Ethiopia (NBE).

The Central Bank licensed Dashen for the transactional internet banking on December 31, 2014, almost two weeks…

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General Electric (GE) to build wind farm

General Electric (GE) to build wind farm

A consortium that includes General Electric, a US based company, is going to undertake the wind farm project at Aysha, Somali regional state.
The consortium that delivered its study for the development of 310mw of electric power from wind is…

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Diaspora Housing Registration in Final Stage

Diaspora Housing Registration in Final Stage

Almost all of Ethiopian regional states have finalised their Diaspora housing program directives and are preparing to start the housing program registration.

Representatives from the regional state Diaspora offices with Ministry of Foreign Affairs Diaspora Engagement Affairs General Directorate held…

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Addis International Bank Profits Soar 64pc

Addis International Bank Profits Soar 64pc

One of the latest members of the bank industry, Addis International Bank (AdIB), has enjoyed a successful third year, registering a profit after tax of 44.6 million Br, increasing by 64pc on the preceding year’s 27.2 million Br.…

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