Afar Gets Iodized Salt Plant

Aug 24 , 2019


An iodized salt plant built by Ethiopian and Turkish investors for 14.7 million dollars was inaugurated in Semera, Afar Regional State on August 19, 2019. About 66pc of the construction cost of the plant was covered by Ethiopians and the remaining 33.4pc was covered by Turkish Investors. The plant, which has a capacity to produce 450,000ql of iodized salt a month, will create 700 permanent and 200 temporary jobs. Construction of another plant, which has a capacity to produce 750,000ql a month, is also underway in Afdera, also in the Afar Regional State, with an investment of 31 million dollars. The plant is expected to commence production after six months and create 1,400 jobs. The major players in Afar Regional State’s salt processing market are Afar Salt Production, Dobby and SVS.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email