CBE Blesses Sheger Project with 500m Br

May 11 , 2019


The state giant, Commercial Bank of Ethiopia, has pledged half a billion Birr for a project that intends to beautify Addis Abeba. The board of directors of the bank approved a contribution to the project, which is expected to cost 29 billion Br in total. Advocated by Prime Minister Abiy Ahmed (PhD), the project aims at cleaning the rivers from Entoto to Aqaqi Wastewater Treatment Plant, a span of 56Km. The project also plans to develop the riverside and river banks and make it a central recreation spot throughout the city. The other state-owned giant, Ethio telecom, and its employees have pledged 180 million Br for the project.


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Central Bank's Auction Sends Dollar Soaring to 135 Br

A dollar value against the Birr exceeds 135 during an auction the Central Bank held last week, offering 60 million dollars. Close to 27 banks made their bid where the weighted average was 135.61 Br for a dollar. The National Bank of Ethiopia (NBE) announced the results of the special foreign exchange auction, the second since monetary authorities floated the forex regime in early August last year. Last week's result reflects a weaker Birr than in the first when the average rate was 107.9 Br....


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Ethio Telecom Bids to Dominate Ethiopia's Digital Future

An array of services from digital livestock tracking, push-to-talk/video communications to cloud-based banking, an education management system (EMS), and enterprise resource Planning (ERP) are available from the state-owned Ethio telecom. Ethio telecom has introduced seven new cloud-based digital services last week at the Skylight Hotel, on Africa Avenue (Bole Road), pledging to transform business operations, financial services, and education management. The company said that these solutions...


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Addis International Convention Centre Inaugurates

The much-anticipated Addis International Convention Centre, spanning 40 hectares, was officially inaugurated last week. It is set to become the country's largest conference venue, designed to host both national and international events. The centre features two large halls, each accommodating 3,000 to 4,000 people. It also includes eight smaller meeting rooms, bringing its total capacity to 10,000 attendees. Two hotels, with a combined 1,000-bed capacity, will serve both local and internationa...