Capital Commences Germany Trade Fair


Capital Commences Germany Trade Fair

Close to 60 German-based and local companies showcased their products and services at the first Germany-Africa Trade Fair last week. Over 2,000 investors from various African countries were in attendance looking for a potential business partner. Organised by Trade & Fairs Group (TFC) and German Embassy the event took place at Skylight Hotel, Africa Avenue (Bole Road). According to them, financing projects and leasing machines for agro-processing are tabled for discussion with World Bank, IMF, and the German KfW Bank representatives. The event aims to encourage trade, business and investment and provide a platform for industries in African countries to develop relationships with Germany, with organisers hoping to host it annually with plans to address problems in education systems in Africa particularly educational institutions. Onur Yel, a representative from the German Embassy said the Ethiopian government should come up with an investor-friendly framework that can allow foreign currency circulation.


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