staff writer

The Italian government approved 22 million euros (1.2 billion birr) to assist Ethiopia’s project to develop Bulbula, Bure, Yirgalem, and Ba’eker Integrated Agro-Industrial Parks across different parts of the country. The loan agreement was signed by H.E. Mr. Ahmed Shide, Minister of Finance, and H.E. Mr. Luigi Di MAIO, Minister of Foreign Affairs and International […]

Tadash Steel Manufacturing Industry builds a steel mill with a cost of 5.8 billion birr (111 million dollars). Located in Dukem, 31km away from Addis Ababa, the plant is sprawled on 50,000 square metre of land. Inaugurated on June 12, 2022, the factory has a capacity to produce 600 tons of reinforcement bar. It has

Ethiopian Airlines commences thrice-weekly passenger service to Washington Dulles via Lomé, the capital city of Togo, beginning from today, June 1, 2022. The move will increase Ethiopian Airlines’ flights to Washington DC to 10 from the existing seven weekly flights it operates via Dublin. The new flight is operated with Boeing 787-8 Dreamliner aircraft.

One of the leading microfinance institutions in Ethiopia, Addis Credit & Saving, collects a deposit of 7.3 billion birr in the last 10 months. It is more than twice the figure registered the same period last year. The bulge in saving helped the microfinance achieve 212.4 percent of its target set to be achieved in

Safaricom plans to mobilize two billion dollars from international financiers in the next five years for its operation in Ethiopia. Part of the proposed funding will also be raised internally and through rental financing from equipment vendors, according to a report by the East African Daily. It plans to source the finance from local banks

Ethiopia exports one billion dollars worth of coffee in the last ten months, a record-high performance in the history of the country. Coffee accounts for more than a third of Ethiopia’s exports. And the historic-high performance helps the government meets the target set to be achieved during the reporting period. The popularity of vertical integration,

Moha Soft Drinks, bottlers of products of Pepsi Cola, suspends operations due to shortage of inputs, Capital Newspaper reported. The shortage is caused by the company’s inability to get forex from commercial banks due to dearth in foreign currencies. Employees have been told to take a paid-leave, with all lines of production, including Mirinda, Kool

Officials find themselves between a hard and a rock place as the price of commodities exhibit a drastic upsurge as Ethiopians Easter approaches. The price of oxen range between 30,000 birr and 200,000 birr, while sheep is costing between 5000 birr and 22,000 birr. The ceiling price registered in the cattle market this holiday is