Ministry Grants Three Exploration Licenses

Apr 26 , 2019

The Ministry of Mines & Petroleum has given exploration concessions to three companies to explore gold, metals and coal in Tigray, Amhara and Benishangul-Gumuz regional states. The companies are expected to invest 31 million Br and employ 46 people for the exploration work, according to Samuel Urkato, minister of Mines & Petroleum. A total of 56 companies have requested concessions to explore different minerals in Ethiopia, and those that have fulfilled the Ministry’s criteria are being awarded, according to Samuel. The Ministry also awarded mineral exploration concessions in the Amhara and Tigray regional states to six companies a week ago. Five of the companies will be engaged in the exploration of metals, while one will be exploring limestone. The mining industry has slumped in the past few years, with earnings from exports dropping to 130 million dollars last year from 600 million dollars seven years ago.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...