New Gold Mining Ventures Set Foot in Konso

Apr 30 , 2022


Two gold mining sites spread across eight hectares of land in the Konso Zone of the Southern Regional State have commenced work. Two cooperative unions comprising around 100 unemployed youth have begun digging in small-scale mines opened last week. Officials say the sites also hold granite deposits and precious metals in addition to gold. Close to 4,500tn of gold was shipped abroad over the first half of the fiscal year, generating 272 million dollars. The figure is slightly less than gold export revenues from the same period last year. A little under three tonnes of the exports was sourced from artisanal miners. A total of 283 million dollars was generated from the export of minerals over the six-month period.


Radar

Customs Commission Sets Another Franco Valuta Deadline

The Ethiopian Customs Commission has given importers who used the franco valuta system up to December 26 to finalize the import of their goods. This pertains only to importers who purchased the merchandise and registered their import documents to the Commission before November 7. The Ministry of Finance had previously offered a two-week window for merchandise imports made through the scheme to finalise customs procedures. It is to be recalled that the government banned merchandise imports under...


Radar

National ID Strides Further to Mandatory Field

The National Bank of Ethiopia issued a notice to all banks mandating the use of the National ID for new bank account openings starting January 1, 2025, for branches in Addis Abeba while the same will apply for branches in major cities on July 1, 2025. All branches nationwide must comply starting January 1, 2026, while existing account holders are required to present their National ID by December 2026. The Central Bank stated its objectives for the move are to enhance the security of the financi...


Radar

Hibret Climbs Further Profit Heights

Hibret Bank posted a surge in net profits to reach 2.3 billion Br, traversing economic adversities. The Bank grew its revenues to 13.23 billion Br—an increase of 28.1pc from the previous year. Total assets were registered at 96.58 billion Br, exhibiting a 16pc increase, while total deposits rose by 15.6pc to reach 74.65 billion Br. With loans and advances sitting at 68.89 billion Br, Earnings Per Share (EPS) stood at 383 Br. The Bank opened 26 new branches during the year to reach a total o...


Back
WhatsApp
Telegram
Email