Kush Bank Starts Selling Shares

May 2 , 2020

Kush Bank, a new under-formation investment bank, has started selling shares after getting a green light from the National Bank of Ethiopia (NBE). The under-formation Bank secured the green light from the central bank at the beginning of January and started selling the shares on March 23, 2020. The Bank is selling the shares through the Commercial Bank of Ethiopia (CBE), Cooperative Bank of Oromia, Awash, Oromia, Debub Global, Birhan International and Nib banks. The Bank is joining the burgeoning banking industry, which is witnessing the formation of over a dozen banks including Amhara, Goh Betoch, Jano, Zad, Ahadu and Zemzem Bank. Currently, Ethiopia has 16 private and two operational state-run banks.


Mobile Apps Streamline Container Handling

A Chinese private logistics company availed its multilingual mobile applications designed to streamline container handling processes for local businesses. Dubbed arl-shipping.com, the apps are available in Amharic, Oromo, Somali, and Tigrigna, with a competitive monthly fee. Company managements aim to tackle inefficiencies by scanning truck license plates, container IDs, and other details, reducing manual data entry and the potential for errors. Users can also record gate movements with times...


Private Investment Takes Flight in Aviation Industry

Local private operators received the green light last week to expand their services beyond charter flights, offering regular passenger and cargo options. This move by the Ethiopian Civil Aviation Authority is expected to boost the air transport sector, attracting private companies to invest in air travel services. The Authority is partnering with private investors to improve air transport infrastructure by building over 21 new airstrips and helipads in previously underserved areas. Officials...


Safaricom Ramps Up Network Expansion with Locally Made Poles

Safaricom Ethiopia has initiated a three-month procurement process to acquire a total of 68 poles from Woda Metal, the first telecom pole manufacturer in the country. The initial batch of 13 poles was delivered last week, marking a milestone as the first use of domestically produced poles in Ethiopia's telecom sector. Wim Vanhellputte, CEO of Safaricom Ethiopia, praised the high quality and affordability of Woda Metal's poles, which will be crucial for their network expansion goals. The co...