Chinese Institution Covets Bamboo Development


Ethiopia aspires to develop the bamboo industry through technology, research, and training partnering with China’s Nanjing Forestry University last week. Officials at the Ethiopian Forestry Development said that the industry remains underdeveloped considering the large resources available with 1.47 million hectares of bamboo forest. Average exports of bamboo products only accounted for 0.02pc of global exports, proving that the country has not used it even to its minimal potential. According to the Bamboo World Map report, the lack of skills in bamboo management and the absence of technologies to increase lifespan and upgrade the production chain has made the country incur a low economic return. China’s bamboo forest area and accumulation are among the leading in the world. It has more than 6.67 million hectares of bamboo forests with an annual output value of the industry projected to exceed 110 billion dollars in 2025.


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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...


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$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...


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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,...


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