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May 21 , 2022

Corporation Calls on Suppliers for 200,000tn Sugar Procurement radar

Executives of the Ethiopian Sugar Corporation have taken steps to procure 200,000tn of sugar from international suppliers. The Corporation had invited shortlisted companies to submit offers, after an attempt to procure the sugar through an international tender went awry. However, officials at the...

May 21 , 2022

Ethiopia's Internal Displacement Tops Global List: Report Reveals

Ethiopia recorded the highest number of internally displaced people (IDPs) of any country in 2021, according to a report published by the Internal Displacement Monitoring Centre. The armed conflict gripping the country's north since November 2020, and rising insecurity in other regions triggered the displacement of 5.1 million people, according to the report. It is three time higher than the number of IDPs recorded in 2020, and the highest annual figure ever recorded for a single country. The Centre estimates over 59 million people had been internally displaced in 2021 globally. Sub-Saha...

May 21 , 2022

Launches Water Payment Services in Major Towns

Residents of seven regional towns now have the option to settle their water utility payments through Ethio telecom's Telebirr mobile money platform. The state-owned operator has availed the services in Arba Minch, Harar, Bahir Dar, Finote Selam, Injibara, Dessie, and Combolcha after reaching agreements with the respective administrations. The Information Network Security Agency's Derash integrated payment platform is a crucial cog in the payment scheme. Officials hope the service will enhance the efficiency of water and sewerage service providers. Customers will be able to settle their b...


May 21 , 2022

Discrepancies Force Health Ministry to Cancel $30m Bid

The Ministry of Health has cut short a 30 million dollar tender for the procurement of mosquito nets following allegations of discrepancies in the integrity of the bidding process. Floated through the Ethiopian Pharmaceutical Supply Agency, the international tender was in the final evaluation stages when the Public Procurement & Disposal Service and the Federal Ethics & Anti-Corruption Commission raised alarms over participants' eligibility. Their investigations allege some bidders were participating with invalid licenses, while other did not meet criteria set in the bid document...

May 21 , 2022

Wealth Fund Gains Access to International Forum

Ethiopian Investment Holdings has been approved as an associate member of the International Forum of Sovereign Wealth Funds, a global network of sovereign wealth funds from over 40 countries. It includes some of the world's largest sovereign wealth funds such as the China Investment Corporation, and the Kuwait and Abu Dhabi investment authorities. Ethiopian Investment Holdings was formed earlier this year with an approved capital of 100 billion Br. In February, Mamo Mihretu was chosen to lead the fund as chief executive officer (CEO). It sources funding from a pool of state-owned asse...


Radar

May 21 , 2022

Financial Institutions to Lease Data Centres from State Telco

Four financial institutions have signed a memorandum of understanding with the state-owned Ethio telecom to lease space at its data centre in the Gola area of Addis Abeba. Zemen Bank, the fully-fle...

May 14 , 2022

Zemen Bank Rolls Out Cash Deposit ATMs

Zemen Bank has deployed automated teller machines (ATM) that enable clients to deposit cash. The two machines are installed at the Bank's main branch on Tito Street in the Casanchis and its banking...

May 14 , 2022

Artisinal Miners in Gambella Extract Gold Worth $59m

Artisanal miners from the Gambella Regional State have sold over a tonne of gold to the central bank over the first 10 months of the financial year. Regulators estimate the gold can generate 59.4 mill...

May 14 , 2022

DBE Moves on Latest Round of Lease Financing

The Development Bank of Ethiopia (DBE) has approved 14 billion Br in lease-financing for 1,200 small and medium enterprises. The state-owned Bank conducted a large-scale training programme on agric...

May 14 , 2022

Coffee Exports Hit Record $1b Mark

Coffee export revenues have topped one billion dollars for the first time. Over 300,000tn of the cash crop has been shipped abroad over the first 10 months of the financial year. Officials say Chin...

May 14 , 2022

Beverage, Food Exports Generate $83m

The export of food and beverage items brought in 83 million dollars over the first three quarters of the financial year, according to the Ministry of Industry. The figure is four million dollars lo...

May 14 , 2022

Dashen Brewery Inaugurates 1.7b Br Expansion Projects

Dashen Brewery S.C. has inaugurated a 1.7 billion Br project to expand its plants in Gonder and Debre Birhan in the Amhara Regional State. The brewer began operations at its plant in Gonder, 750Km...

May 7 , 2022

Eka General Hospital Sees Off Sole COVID-19 Patient

For the first time since the early days of the pandemic in 2020, the wards of Eka Kotebe General Hospital have no patients admitted for COVID-19 treatment. The final patient left the Hospital on Ma...

May 7 , 2022

Amhara Bank Opens Maiden Branch, Awaits Operational License

Amhara Bank has opened its first branch in the Arat Kilo area of Addis Abeba while its promoters await an operational license from regulators at the central bank. The Bank is looking to join the in...

May 7 , 2022

Retail Prices at Pumping Stations Surge

Prices for benzene and diesel will go up beginning May 8, 2022. Officials at the Ministry of Trade & Regional Integration have set the price for a litre of benzene at 36.87 Br, a 16pc jump. It...

May 7 , 2022

State Telco Ready to Launch 5G

The state-owned Ethio telecom is to launch a 5G network on May 9, 2022. Executives says they have completed all necessary preparations for the launch, which has been in the making for over a year i...

May 7 , 2022

Fed Eyes 7.2m Housing Units Erected in Decade

Federal officials say they want to see up to 7.2 million housing units erected over the coming decade. Officials at the Ministry of Urban Development & Infrastructure have announced plans to ha...

May 7 , 2022

T-bill Auction Sees 15.7b Br Bids

The central bank's latest auction of treasury bills (T-bills) saw a total of 15.7 billion Br worth of bids. The government-guaranteed bonds are auctioned off bi-monthly to financial institutions, pens...

May 7 , 2022

Afar Revenues Authorities Report 1.5b Br Collected

Tax officials in the Afar Regional State say they have collected 1.5 billion Br in revenues over the past nine months. It represents a growth of over 300 million Br compared to the same period last...

April 30 , 2022

Donors Pledge $1.4b for Drought Response

Donors have pledged 1.39 billion dollars for humanitarian and development response to the drought in the Horn of Africa that has left more than 15 million people severely food insecure across Ethiopia...

April 30 , 2022

Export Revenues Edge Closer to $3b

Over 2.95 billion dollars' worth of goods and services were shipped abroad over the first nine months of the financial year, according to the Ministry of Trade & Regional Integration. Agricultu...


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