Agency Invests 10m Br in Vehicles

Feb 15 , 2020


[ssba-buttons]

The Pharmaceutical Supply Agency (EPSA) bought 15 automobiles for 10.5 million Br to enhance the facilitation of the health sector. Manufactured by BAIC Group, a Chinese state-owned enterprise, the sedan vehicles were manufactured in 2018. The vehicles are being received by the Agency starting from February 6, 2020, according to Biruk Sintayehu, the procurement expert of the Agency, which has 200 cars, out of which 190 are equipped with GPS systems. Recently, the Agency, supported by the Clinton Health Access Initiative, has inaugurated a cold chain warehouse with a capacity of 1,104.8 cubic metres of storage. The cold room warehouse that sits on 3,000Sqm was built at a cost of more than 25 million Br within five months. The Agency has 19 branches located throughout the country, two of which are in Addis Abeba, and operates with 2,535 permanent and 314 contract employees. It supplies pharmaceuticals, chemical reagents, medical supplies and equipment to over 4,000 health facilities nationwide.


Radar

Dangote, EIH Break Ground on Mega Fertilizer Plant in Somali Region

Ethiopian Investment Holdings (EIH), the state's sovereign investment arm, has struck a deal with Dangote Group to build one of the world's largest urea fertiliser complexes in Gode, Somali Regional State. The 2.5 billion dollars project will see EIH hold a 40pc stake while Dangote keeps 60pc. With agriculture employing over 70pc of Ethiopians, the government hopes the factory will cut fertiliser costs, create jobs, and boost crop yields while positioning the country as a regional hub. Design...


Radar

CBE Capital Joins Nib Bank for Market Expansion

Nib International Bank has partnered with CBE Capital, the investment arm of the Commercial Bank of Ethiopia (CBE), to expand investment banking services and shore up its finances. The deal covers advisory services, seeking to strengthen Nib's balance sheet, attracting capital, and positioning the bank in a modernising financial sector. The partnership follows a difficult year for Nib, where net profit dropped 36pc to 957.9 million Br and deposits shrank, despite paid-up capital climbing to ...


Radar

Credit Cap Nears Lift-Off

The National Bank of Ethiopia (NBE) is preparing to lift its long-standing credit cap by September, unlocking 1.3 trillion Br in bank lending. The move, flagged by board member and State Minister of Finance Eyob Tekalegn (PhD), follows years of complaints from businesses that borrowing limits choked large-scale projects. Eyob told a local radio station the reform reflects rising investor appetite and improved economic conditions, though he admitted "financing has been the biggest bottleneck for...