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Aug 21 , 2021

New Health Insurance Scheme Surfaces, Excludes Private Insurers

The Ethiopian Health Insurance Agency (EHIA) will launch novel social health insurance, allowing individuals working in the formal sector to be covered by an affordable health insurance scheme adminis...

Aug 14 , 2021

GOH COMES HOME

A two-year journey behind them, Mulugeta Asmare (left) and Getahun Nana (centre), president and board chairperson, respectively, of the new Goh Mortgage Bank S.C., shared the spotlight with Yinager D...

Aug 14 , 2021

China Exim Bank Withholds $339m in Loans Amid Debt Reworks

The Export-Import Bank of China has withheld the disbursement of 339 million dollars in loans to Ethiopia as it conducts a review of the country's debt standing, leading to delays in eight infrastruct...

Aug 14 , 2021

Holiday Expos Attract 111m Br Record Offers

A novel event organiser has placed record high offers to host the upcoming Christmas and Easter bazaar at Addis Abeba's oldest exhibition venue. Betahon Special Events has offered a total of 111 mi...

Aug 14 , 2021

Petroleum Enterprise, Businessman at Odds over Auction

The Ethiopian Petroleum Supply Enterprise (EPSE) is in a bid to recoup a share of over a quarter of a billion Birr in accounts receivable from a businessman with ties to two local oil companies that h...

Aug 14 , 2021

Bankers Perplexed by War Contributions, Request Clarification

Financial institutions are awaiting a nod from federal authorities to make nearly half a billion Birr in war contributions to the Ethiopian National Defense (ENDF) and regional forces. They have ye...

Aug 14 , 2021

Market Confusion, Transport Interruption Drive Salt Prices Up

Prices for table salt jumped to 20 Br a kilogramme last week, around a third higher than the going rate earlier this month, and an abrupt departure from the trend for half a decade. Salt traders bl...

Aug 14 , 2021

Directive Lowers Requirements to Establish Audit Firms

A new directive has eased the requirements for the registration of accountants and auditors, lowering the previously required eight years of experience to just three. Drafted by the Accounting &...

Aug 14 , 2021

Enterprise to Buy 3,000 Additional Containers

A global logistics crisis caused by the COVID-19 pandemic has pushed the state shipping service provider to acquire 3,000 shipping containers less than a month after conducting a similar procurement....

Aug 12 , 2021

Central Bank Orders Banks Freeze Loans

The National Bank of Ethiopia (NBE) has ordered commercial banks to suspend all collateral-based loans, an unexpected measure communicated to executives through text message on August 11, 2021. The...

Aug 7 , 2021

HOW MUCH MONTHLY INCOME PROVIDES DECENT LIVING?

Kicking and screaming, Ethiopia has surpassed the 1,000 dollars GDP per capita mark, according to the government, which is a significant milestone for developing countries. Unfortunately, macroeconomi...

Aug 7 , 2021

Banks in the Making Eye Mergers, Extension as Deadline Approaches

Promoters of two interest-free banks under formation, Ramis and Zad, have agreed to a merger deal, under pressure to meet central bank requirements, persons close to the matter disclosed to Fortune. ...

Aug 7 , 2021

Officials Shut Down Nexus Hotel Week after Sale

Wereda officials have shut down Nexus Hotel for allegedly violating COVID-19 protocols and operating with an expired business license, leaving 200 employees out of work. The closure comes barely a...

Aug 7 , 2021

Kefi Gold Onboards Investors Amidst Financial Crunch

A London listed company prospecting for gold in Tulu Kepi, Oromia Regional State, has been saved from financial woes after securing additional financing from Africa-based financial institutions and su...

Aug 7 , 2021

Authority Suspends Renewal Services, Freight Transport Operators Livid

The Federal Transport Authority has suspended permit renewal services for freight operators following an order from the Federal High Court. Earlier this year, the Court had passed an injunction on...

Aug 7 , 2021

Derba Cement to Add Additional Plant, Double Production

Derba MIDROC Cement is moving forward with an expansion project to double its current production capacity. Owned by the business tycoon Mohammed Hussein Al-Amoudi (Sheikh) and his family, Derba Cem...


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