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Metal Products Manufacturer Eyes Sebeta Expansion Project

Nov 20 , 2021

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A private company in the manufacturing of steel structures has requested 100hct of land in Oromia Special Zone to realise its expansion plan. Woda Metal Industry Plc has a plant in Sebeta town, 35Km west of Addis Abeba, for the manufacturing of steel structures such as telecom towers, high voltage cables and metal bellows, with an investment of 30 million dollars. Its managers want to expand this facility, erecting three assembly lines for electric cars, transformers and tyres. Close to 500 medium and large basic metal and engineering industries with a combined annual production capacity of 11 million tonnes operate in the country. Out of the total, 28pc are foreign companies.

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, this past Saturday, 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) payme...

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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...

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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. ...

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