Domestic, International Companies Enter Industrial Parks

Dec 4 , 2022


[ssba-buttons]

An international and two local companies have signed a contract with Industrial Parks Development Corporation (IPDC). The Chinese Long March Electrical Equipment Manufacturing signed to lease a 3,000Sqm shed in Adama Industrial Park, which sits on 365hct. The company invested more than 240 million Br and manufactures electricity meters creating job opportunities for 250 workers. More than 125 foreign and domestic companies inhabit 13 industrial parks, creating job opportunities for 81,000 people. With an investment of more than 205 million Br, the medical equipment manufacturer, NK World Medical Equipment, is to acquire one hectare of land in the Qilinto Industrial Park, offering 210 jobs. Warqa Trading has leased a 5,500Sqm shed at Hawasa Industrial Park to provide yarn products for textile factories.


Radar

Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...


Radar

NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...


Radar

SantimPay Launches Zero-fee Digital Remittance Platform

SantimPay has rolled out FrankRemit, first fully integrated, zero-fee digital remittance platform, in partnership with Bank of Abyssinia(BOA). The service smoothly connects all commercial banks and major mobile money providers, including Telebirr, M-Pesa, and CBE Birr which is a first of its kind in the country. FrankRemit is expected to revolutionise how the Ethiopian diaspora sends money home. Developed locally and tested over the past two weeks with successful transfers from multiple count...