Industries Forge Alliance to Recycle Water

Aug 14 , 2021


[ssba-buttons]

Bottling companies and industries involved in agri-businesses partners to form an alliance in a bid to recycle water that they use for their establishments. Supported by international organizations, including the Water Aid, the formation of the alliance was faclitated by the Ethiopian Bottled Water, Soft Drink, Fruit & Vegetable Manufacturing/Processing Industries Association. Funds collected for the alliance have so far reached 135,000 dollars, of which 35,000 dollars was collected from members and 100,000 dollars from P4G – Partnering for Green Growth and the Global Goals 2030. The Alliance is also reviewing proposals from interested parties that came up with ideas on how to use water efficiently in the industries where consumption of water is very high. Four proposals have been selected from a total of 360 collected since 2019. Setting  August 26, 2021, as the formation date, the Association of 120 manufacturers and supporting organisations are set to convene at the Hilton Hotel, and sign the alliance formation charter. After the formation, the alliance will form its management and be tasked with the assignment of registering as a civil society organisation.


Radar

Central Bank, Global Alliance Partner to Enhance Sustainable

The National Bank of Ethiopia (NBE) recently hosted a high-level meeting with representatives from the Global Alliance for Banking on Values (GABV) and selected member banks in anticipation of the 17th GABV Annual Meeting scheduled in Uganda. The meeting convened commercial bank representatives from Ethiopia, alongside a delegation comprising six GABV members, including Centenary Bank and Opportunity Bank Uganda, Amalgamated Bank, Sunrise Banks, City First Bank, and Merkur Cooperative Bank. G...


Radar

Commercial Bank of Ethiopia Adjusts Loan Interest Rates Amid Market Reforms

Commercial Bank of Ethiopia (CBE) has announced adjustments to its loan interest rates, effective March 7, 2025. Bank executives cited rising deposit mobilisation costs and the need to align with market standards as key factors influencing the decision, despite successful internal reforms that have reduced operational expenses. Executives noted that these adjustments are crucial for maintaining its competitive edge and ensuring the continued delivery of efficient services to its clientele. ...


Radar

Chemical Corp Posts Substantial Revenue, Profit Growth in 1Q

The state-owned Chemical Industry Corporation recorded a revenue of 2.53 billion Br in the first half of the 2024/2025 financial year. The Corporation reported a profit before tax of over half a billion Birr, which marks a considerable 182.6pc increase compared to the same period last year. Company officials attributed the growth result to enhanced market reach, effective cost-cutting measures, and optimisation of plant capacity utilisation. Year-on-year revenue growth was noted across variou...