CBE Assets Surpass 1t Br Mark

Nov 27 , 2021

The total assets of the state-owned Commercial Bank of Ethiopia (CBE) have hit the one trillion Birr mark. The Bank's total deposits reached 735 billion Br last year. Over the first quarter of this fiscal year, the CBE opened 38 branches, bringing its total network to nearly 1,800. It disbursed 36.8 billion Br in loans over the same period. The state-owned giant serves close to 33 million accounts and makes up a third of the banking industry's total capital. Earlier this month, the recently-established Liability & Asset Management Corporation (LAMC) settled 34.1 billion Br in debts owed to the CBE by three state-owned enterprises.


Ministry Ponders Tax Waivers for Rural Energy Solutions

Tax exemptions for off-grid energy technologies like solar pumps and mini-grids are under discussion, spearheaded by the Ministry of Water & Energy. Commonly used by rural households, officials disclose their simultaneous plan to develop 300 mini-grids in the next six years. According to Birhanu Weldu, the lead executive of rural energy technology development, the initiative tackles the country's low electrification rate and reliance on charcoal and firewood. Charcoal, fuel wood, and...


Rural Land Proclamation Comes to Light

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Ethiopian Unveils $50m Domestic Terminal Renovation

With a rising demand for domestic travel, Ethiopian Airlines has renovated its terminal at Addis Abeba Bole International Airport with 50 million dollars to handle customers. The expanded terminal has doubled its previous size to 25,750Sqm and accommodates 200 daily flights to and from 22 domestic destinations. It includes four contact gates, 10 remote departure gates, 22 check-in counters with automated baggage screening systems, shops and restaurants. The terminal also features a dedica...