Addis Ababa, August 12, 2024 (FBC) – Dutch and United Arab Emirates investors have expressed their desire to engage in soil fertilizer production in Ethiopia. This was revealed after a meeting between Ethiopia’s Minister of State for Industry, Hassan Muhammed, and delegates from the Dutch and United Arab Emirates business […]
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Addis Ababa, August 12, 2024 (FBC) – During a meeting between Iranian Ambassador Ali Akbar Rezaei and CEO Fisseha Yitagesu of the Industrial Parks Development Corporation of Ethiopia (IPDC) in Addis Ababa, it was confirmed that efforts will be made to encourage Iranian investors to invest in industrial parks focused […]
Addis Ababa, August 12, 2024 (FBC) – Ethio telecom disclosed that it is carrying out activities to expand mobile telephone networks across all rural parts of Ethiopia by utilizing renewable energy as alternative mechanism. Ethio-telecom has today inaugurated rural mobile telephone network projects in Somali and Central Ethiopia regions. Network […]
Addis Ababa, August 8, 202 (FBC) – The National Bank of Ethiopia (NBE) today announced that it has begun accepting applications for Independent Foreign Exchange Bureaus, in line with the newly approved Foreign Exchange Directive (FXD/01/2024) that became effective July 29, 2024. Independent FX Bureaus are authorized to engage in […]
Addis Ababa, August 8, 2024 (FBC) – Fiseha Yitagesu, the CEO of Industrial Parks Development Corporation (IPDC), has stated that his corporation will provide the necessary support to Soufflet Malt Ethiopia SC, a subsidiary of the French agricultural group InVivo, to expand its investment in Ethiopia. This assurance was given […]
Addis Ababa, August 8, 2024 (FBC) – The Ethiopian Securities Exchange (ESX) will commence its operation in October 2024, ESX CEO Tilahun Esmael Kassahun stated. He said that preparations, including collecting finances, have been carried out to get license from the Capital Market Authority. The CEO disclosed the ESX, which […]
Addis Ababa, August 7, 2024 (FBC) – The National Bank of Ethiopia (NBE) has announced the conclusion of the Special Foreign Exchange Auction with a weighted average rate of Birr 107.9 per a USD. The nation’s central bank held a Special Foreign Exchange Auction today August 7. 2024. In that […]
Addis Ababa, August 7, 2024 (FBC) – The Macroeconomic reform policy which Ethiopia has embarked on has created great opportunity for competitive investment in the country, Indian investor Mayur Kothari said. The Chairperson of Indian Mohan Group PLC in Ethiopia, Mayur Kothari said that the full implementation of macroeconomic reform […]
Addis Ababa, August 7, 2024 (FBC) – China’s foreign trade reached a new high of $3.5 trillion, up 6.2% year-on-year, in Jan. – July, Beijing-based news agency Xinhua reported on Wednesday, citing official data. China’s exports surged 6.7% year-on-year to $2.01 trillion and imports climbed 5.4% to $1.49 trillion in […]
Due to the suspension of Djibouti’s operating oil port, Ethiopia is requesting that the Djibouti administration promptly provide alternate tankers for the incoming petroleum cargo. The Ethiopian Petroleum Supply Enterprise (EPSE) delegation asked Djibouti authorities to provide alternative discharge ships for oil imports during its visit earlier this week. On […]
Addis Ababa, August 4, 2024 (FBC) – Feseha Yitagesu (PhD), CEO of the Industrial Parks Development Corporation (IPDC), has announced a series of initiatives aimed at attracting investments to the Jimma Industrial Park, capitalizing on the areas’s abundant natural resources. During a recent visit to the park, Feseha reviewed ongoing […]
In a bid to avert the spillover of the exchange rate reform on the liabilities lurking in the portfolio of the Commercial Bank of Ethiopia (CBE), the government has opted for a massive capital injection of close to 900 billion birr into the state-owned giant. “A substantial capital injection of […]