Metal Products Manufacturer Eyes Sebeta Expansion Project

Radar

Fitch Downgrades Lemmi National Cement Investor

Fitch Ratings has lowered West China Cement Limited's (WCC) credit rating due to concerns over its financial health and operating environment in Ethiopia. The company's Long-Term Issuer Default Rating has been downgraded to 'B-' from 'B+', and its senior unsecured rating has been reduced to 'CCC+'. WCC's free cash flow is expected to remain negative in 2024, primarily due to high capital expenditures and challenges in generating sufficient revenue. The company faces significant operating risk...

Ethiopia Seals Currency Swap Deal with China

Ethiopia and China have agreed to use their respective currencies for bilateral trade, a move aimed at enhancing economic cooperation and addressing foreign exchange challenges. The announcement was made by Ethiopian Finance Minister Ahmed Shide following the recent Forum on China-Africa Cooperation (FOCAC) meeting in Beijing. He revealed that the central banks of both countries are finalizing the details of the currency swap agreement, similar to the one Ethiopia signed with the United Arab...

USAID Launches National Youth SACCOs

The United States Agency for International Development (USAID) Integrated Youth Activity (IYA), Kefeta, has reached a milestone in its youth empowerment efforts. The Amref Health Africa-led project has successfully established youth-owned and managed Savings and Credit Cooperatives (SACCOs) in 18 cities. The Kefeta Youth SACCO, now operational on a national scale, has already garnered substantial membership and savings. With over 7,800 members, 38,900 shares sold, and nearly 60 million Br in...

Cookie	Duration	Description
cookielawinfo-checkbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.