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The Council of Ministers boosts the policy bank, the Development Bank of Ethiopia (DBE), through a capital injection of 28.5 billion birr, four times the preexisting capital of 7.5 billion birr. This decision was made at the Council’s extraordinary meeting held on May 7, 2020.
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A local food processing firm has constructed a flour and biscuit processing plant in Debre Sina town, 145Km north of the capital, with a total investment of 210 million Br.
Vita Hydro Agro-Processing Plc, a sister company of Belayab Food Production Plc owned by three foreigners and two local business people, invested in the plant, which rests on two hectares of land. The company leased the land from Tarmaber Wereda’s land administration office and got a business license from the Ethiopian Investment Commission.
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The Development Bank of Ethiopia (DBE) has reported a 21.6pc decline in net profit to 323.8...
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| Currency (Code) | Buying Rate | Selling Rate |
|---|---|---|
 US Dollar(USD) | 54.0679 | 55.1493 |
 Euro(EUR) | 59.3449 | 60.5318 |
 Pound Sterling(GBP) | 64.2131 | 65.4974 |
 UAE Dirham(AED) | 13.3234 | 13.5899 |
 Saudi Riyal(SAR) | 13.0456 | 13.3065 |
