FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo



ECX on Verge of Mineral Trading

Jul 18 , 2021

Opal, emerald, and sapphire, will be traded on the floors of the Ethiopian Commodity Exchange (ECX) beginning next year. The Exchange has already prepared a manual to begin trading the minerals and is currently waiting the drafting of a legal framework by a team comprised of officials from the Ethiopian Commodity Exchange Authority and the Ministry of Mines & Petroleum. In the just-ended fiscal year, ECX facilitated the trading of 614.5 million metric tonnes of commodities with a value of 39.6 billion Br. The Exchange also plans to add industrial products to its trading platform soon. It is currently undertaking a study to enforce forward contracts on its trading floors.

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...

Read more >>

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...

Read more >>

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,...

Read more >>

Back
WhatsApp
Telegram
Email