EKOS Steel Mill Plc, a Korean firm, called for the establishment of a center of excellence for advanced manufacturing and engineering that will undertake research on technology and investments related to production facilities, including refinery of crude oil. This will… Read More
Ethio-telecom announced the launch of its Long Term Evolution (LTE)/4G services to cities in the Oromia region that are close to Addis Ababa. The advanced LTE expansion of the sole telecom provider covers cities including Adama, Bishoftu, Mojo, Dukem, Gelan,… Read More
The Ministry of Innovation and Technology (MiNT) finalized its preparations to implement an Ethiopian digital foundation project worth USD 200 million. It aims to boost Ethiopia’s competitiveness in the digital sector through increased inclusion and affordability of digital services and digital job… Read More
Fitch Ratings has downgraded Ethiopia's Long-Term Foreign-Currency Issuer Default Rating (IDR) from 'B' to 'CCC', signaling there is a real possibility of default on debt owed to private creditors. The new rating portrays the worsening of the country’s ability to… Read More
Tsehay Bank S.c, one of 20 banks which are under formation, held it's first general assembly in Sheraton Addis Hotel on Feb 18, 2021. The bank managed to collect 734 million birr paid up capital and 2.9 billion birr subscribed… Read More
The Commercial Bank of Ethiopia (CBE) and Gojo Bridge Housing Trading PLC have signed a memorandum of understanding (MoU) to work together. According to the MoU, CBE will register people who want to purchase houses, collect payments and carry out… Read More
Amhara Bank is at loggerheads with 10 banks over repayment of interest on the paid-up capital it has collected. The dispute arose one and a half years after the Bank officially started selling its shares to the public after coming… Read More
The National Lottery Administration is set to amend the directive that governs the betting market in Ethiopia. This comes one year after the administration temporarily stopped issuing new licenses to betting companies. There are currently 42 active betting companies in… Read More
Ethiopian laborers in the coffee sector earn 10 times lower than their counterparts in major coffee producing countries, a new study conducted by the International Labor Organization revealed. While they earn 10 times lower than farmers in Costa Rica, Ethiopian… Read More
A ceremony for The Gena Lottery (ገና ሎተሪ) which carries a maximum prize money of 5,000,000 (5 million) birr for the 1st price, 2.5 million for second and 1.25 million for third prize was held January 05, 2021 (Tahisas 27,… Read More