FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo



Tanarmu Chemical Acquires Bromine Mining License

Jul 11 , 2021

[ssba-buttons]

Tanarmu Chemical Industrial Plc, a Chinese-owned company, has acquired a license to mine for bromine in Afdera, Afar Regional State. Previous surface and subsurface exploration discovered significant bromine deposits in the area. The company is gearing up to extract bromine, a component of fertilisers, pesticides and phramaceutical products, in the form of hydrobromic acid. It plans to export the bromine to China. The Ministry of Mines & Petroleum expects to earn an income of 45 million dollars annually, based on Tanarmu's feasibility study. The Ministry has permitted tax-free privileges for the company's import of machinery and chemicals until the start of production.

Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...

Read more >>

Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...

Read more >>

Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...

Read more >>