Institutions Join Hands for Service Efficiency

Jan 4 , 2020


[ssba-buttons]

Sixteen public institutions and private organisations signed an agreement to launch a single-window electronics service provision to facilitate business activities. The Ministries of Revenues, Trade & Industry, Agriculture, Science & Innovation, Transport, and Mining & Petroleum are among the public institutions that signed an agreement to launch the service. The National Bank of Ethiopia, the Customs Commission, the Ethiopian Investment Commission and the Information Network & Security Agency are also among the signatories. While these institutions used to give services separately, now all the services will be provided at one location. The system is expected to reduce the 44 days the service had been previously taking to three. The agreement is also expected to facilitate services to the business community.


Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses today, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payments. The bank...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...