East African Bottling Share Company (EABSC), the bottler of Coca-Cola products, is awaiting government decision to acquire one of the state-owned sugar plants slated to be privatized soon. Currently, Ernest & Young, a transaction advisor hired for the privatization of the plants, is undertaking a study to prepare a roadmap to transfer the ownership of […]
Coca-Cola Awaits Gov’t Decision to Acquire Sugar Estate Read More »
In an unexpected move reserved for war-torn countries and failed states, the IMF has not released a GDP growth forecast for Ethiopia in its latest World Economic Outlook published two months ago. Afghanistan, Libya and Syria did not also make it to the list of economies whose growth forecasted. Though no justification has been given,
How is Ethiopia’s Economy Doing? Read More »
New bill disallows the usage of provident fund for employees of private and public organisations. Upon the legislation of the bill by the Parliament, any employee is required to be a part of a pension scheme, except for those working in international agencies and diplomatic missions. According to the current practice, individuals with a provident
Bill Disallows Provident Fund for Employees Read More »
The Ethiopian Commodity Exchange reports a record-high daily transaction of 532.9 million Br yesterday. “It is the highest since the establishment of the Exchange 14 years ago,” said the ECX in a statement released yesterday. The daily average transaction at the ECX was hovering around 100 million Br. The latest increase is an outcome of
At 532.9m Br, ECX Sees Daily Record-High Transaction Read More »
War is bad. And it brings unimaginable loss for people affected by it. It is no different in Ethiopia. In fact, no country as Ethiopia would understand the impacts of war. It is a country that saw two full-scale civil wars in less than half a century. That may have led to the death of
War as an Opportunity to Create Wealth Read More »
Nyala Insurance nets 172 million Br profit during the last fiscal year, the two-decades old firm announced. This is 23 percent higher than what the firm registered during 2019/20 financial year. Nyala is among few financial institutions established in the aftermath of the introduction of mixed economy during early 1990s. Three years ago, it was
Nyala Nets 172 m Br in Profit, Shareholders’ Return 3% Up Read More »
Nib Insurance partners with its sister company, Nib Bank, to launch premium financing scheme designed to owners of vehicles that provide public transport services. The new scheme allows code 1 and code 3 public transport services providers to buy motor and life insurance policies for a premium payment of less than 30 Birr a day
Nib Insurance Launches Premium Financing Scheme Read More »
The chief executive of a US mortgage company, Better.com, in hot water after firing 900 employees on a Zoom call. “I come to you with not great news,” Vishal Garg, CEO of Better.com, said at the beginning of the video call made on Wednesday last week. Footage of the call was widely circulated on social media.
US boss fires 900 employees over Zoom Read More »
Ethiopian Airlines, the largest aviation group in Africa, partnered with CarTrawler, one of the World’s leading providers of online car rental distribution systems, to launch car hire and transfer services for its passengers globally. The partnership enables Ethiopian to offer transport service to passengers throughout their journeys. The service allows passengers to rent vehicles from
Ethiopian Airlines Partners with CarTrawler to Launch Car Hire, Transfer Services Read More »
A three-wheel electric vehicles assembled by Alternet Systems (ALYI) hit the road in Ethiopia. The company said the vehicles are now in service as taxis and delivery vehicles in Ethiopia. ALYI does not directly involve in production but the assembly has been done in collaboration with a manufacturer based on its Electric Vehicle (EV) Ecosystem
Three Wheel Electric Vehicles Hit the Road in Ethiopia Read More »
