Haile Resorts Reopens Ziway Location

Nov 28 , 2020


Haile Hotels & Resorts, founded by Olympic record holder Haile Gebreselassie, has announced that it is reopening its Batu (Ziway) location this week. The location has been closed ever since it sustained heavy damage during the wide-scale destruction, looting and violence that occurred after the death of singer Hachalu Hundessa in late June of this year. The resort, which was first established in 2014 with an investment of 225 million Br, was subject to looting and arson during the unrest. The hospitality firm promised to have the location up and running quickly during a statement made at the opening ceremony of its seventh, and latest, location in Adama in early September. The location will resume operations following a reopening ceremony on December 1, 2020, less than half a year after its closure. While 80pc of the Batu location was destroyed in the unrest, the resort in Shashemene suffered almost complete destruction with only its gates left standing after an arson attack during the same period. Haile Hotel Shashemene was first opened in 2013 with an estimated investment of 130 million Br and was operating with a total of 130 employees before it was razed to the ground.


Radar

Ethiopias Capital Market Sets Sights on Talent Strategy

A new strategy to strengthen the human capital foundation of Ethiopia's emerging capital market is taking shape. Led by FSD Ethiopia in partnership with iCapital Africa Institute and the Nairobi Securities Exchange, the initiative is focused on building the skills, expertise, and institutional capacity needed to support the Ethiopian Capital Market Authority (ECMA). The second round of consultations took place on April 23 at Best Western Hotel, drawing key stakeholders including ECMA Director...


Radar

National Bank Upgrades Core Financial System to Global Standard

The National Bank of Ethiopia (NBE) has officially upgraded the Ethiopian Automated Transfer System (EATS), the country's Real-Time Gross Settlement (RTGS) platform, to align with the ISO 20022 messaging standard, effective March 29, 2025. Handling more than 3.5 million transactions a year worth over five trillion Br, EATS is a critical component of the country's financial ecosystem. It enables real-time, high-value settlements among 35 financial institutions, including commercial banks and m...


Radar

Spice Supply Hits 41,000tns in Nine Months

The South West Ethiopia Coffee, Tea, and Spices Authority has announced that over 41,000tns of spices were supplied to the central market in the first nine months of the current fiscal year, reflecting the region's growing role in the country's spice economy. The region is cultivating spices on more than 90,000 hectares of land, with major contributions coming from turmeric, cardamom, ginger, and black pepper. For the full fiscal year, the authority aims to supply more than 56,000tns of spice...