Health Authorities in Ghana report first two cases of the deadly Marburg virus, Ebola-like disease. One case was a 26-year-old male who checked into a hospital on 26 June 2022 and died on 27 June. The second case was a 51 -year-old male who reported to the hospital on 28 June and died on the […]
Ghana Reports Ebola-like Marburg Virus Read More »
The Ethiopian government owes 56.4 billion dollars to domestic and external lenders, a new report by the Ministry of Finance shows. Of the total amount, the share of external lenders reached 28.4 billion dollars. The remaining is borrowed from the central bank and other lenders in the form of treaurey bill and other debt instruments.
Ethiopia’s total debt surpasses $56.4 billion Read More »
Cooperative Bank of Oromia grosses a profit of almost four billion birr during the just-ended fiscal year, helping it retain the top three status the financial institution held in the industry since last year. Industry insiders say the profit will be the third highest in the industry, just next Awash and Bank of Abyssinia, which
Oromia Cooperative Bank Grosses Four Billion Birr Profit Read More »
Inflation is slowing down in Ethiopia, reaching 34 percent in June 2022, the lowest in four-month, according to Ethiopian Statistics Service (ESS). Fall in price of major food commodities contributed for the deceleration. Food inflation slowed from 43.1 percent to 38.1 percent. The non-food component remain unchanged at 28.4 percent. In double-digit for the last
In June, Inflation Dips to 4-month Low, but remain in double-digit Read More »
Ethiopian exporters shipped 1.4 billion dollars worth of coffee during the just-ended fiscal year. It is an achievement that helped authorities surpass the target for the reporting period by 400 million dollars. Number 1 export item of Ethiopia, coffee brought twice export proceeds made from khat. Gold and khat are the second and the third
Coffee brings $1.4 billion in Export Revenue Read More »
A joint venture of investors of the United Arab Emirates are building a new port in neighbouring Sudan with an investment capital of six billion dollars. It is the biggest investment made since the military takeover in Sudan. DAL group chairman, Osama Daoud Abdellatif, a partner in the deal, in an interview with the Reuters,
UAE to Construct $6b Port in Sudan Read More »
Amhara Bank will officially launch operations this weekend with 70 branches, Melaku Fenta, its board chairperson said. A financial institution joining the industry with a record-high capital, Amhara Bank has more than 180,000 shareholders, higher than any other banks in Ethiopia. Armed with a paid-up capital of over 4.8 billion birr, the executives of Amhara
Amhara Bank Opens 70 Branches to Launch Operations Read More »
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
Italy Approves €22 million For Development of Parks in Ethiopia Read More »
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
Ethiopia Gets $111.5 mln Worth of Steel Factory Read More »
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.
Ethiopian Ups Washington Flights to 10 Read More »
