Teklebirhan Ambaye Construction (Tacon) Latest Ethiopian News


High Court orders Abay Bank to pay 306mln Birr to Ethiopian Roads Administration

A year-long court saga between the Ethiopian Roads Administration and Abay Bank S.C. ended with the judges at the Federal High Court ordering the bank to pay 306 million birr.

The bank became liable for two advance payment guarantees it gave to the Roads Admin for road construction projects that the Administration (then Authority) and Tekle Berhan Ambaye Construction Plc signed in 2017.

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Hidassie Telecom to re-start the bidding process for it’s Headquarter building construction

Hidase Telecom, a local telecom products and services distributor, started the construction of a mixed-use headquarters and business complex for an estimated half a billion Birr investment.

The headquarters, which will be built in the Hayahulet area will have 19 floors and four basement levels. To rest on 1,500Sqm of land, the building is planned to be completed within three years.

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Products and Services in Ethiopia

Date: Apr 19, 2023
Currency (Code) Buying Rate Selling Rate
US DollarUS Dollar(USD)54.067955.1493
Pound SterlingPound Sterling(GBP)64.213165.4974
UAE DirhamUAE Dirham(AED)13.323413.5899
Saudi RiyalSaudi Riyal(SAR)13.045613.3065
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