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May 9 , 2020

Coca-Cola Foundation Donates 3.3m Br

The Coca-Cola Foundation donated 3.3 million Br to the Ethiopian Red Cross Society on May 6, 2020, to support the organisation's effort to fight the Novel Coronavirus (COVID-19). The donation will...

May 9 , 2020

United Bank Cuts Loan Interest Rate by 25pc

United Bank has cut lending interest rates by 25pc for severely affected sectors including floriculture and hotel and tour operators due to the COVID-19 pandemic, effective May 16, 2020. The slashe...

May 9 , 2020

Zemen Slashes Lending Rate Across Three Sectors

Zemen Bank has cut interest rates on commercial loans for borrowers in three sectors that have been hit hard by the Novel Coronavirus (COVID-19) pandemic. The hotel, tourism and manufacturing industri...

May 9 , 2020

DBE Receives Massive Capital Injection

The Council of Ministers has approved a bill that will boost the paid-up capital of the state policy bank, the Development Bank of Ethiopia (DBE), to 28.5 billion Br. After receiving the capital in...

May 9 , 2020

Supreme Court Prolongs Partial Closure

The Federal Supreme Court extended the partial closure of federal courts for an additional 22 working days as a precaution to prevent the spread of COVID-19. Prior to that, the federal courts in th...

May 2 , 2020

Ethiopia Expects Two New Telecom Companies by September

By September, three full telecommunications service providers are expected to be licensed by the Ethiopian Communications Authority, the newly formed organ in charge of regulating telecom and radio fr...

May 2 , 2020

MIDROC's Longest-Serving CEO Tenders Resignation

Arega Yirdaw (PhD), the longest-serving CEO of MIDROC Technology Group, tendered his resignation late last week on April 25, 2020. The CEO, in his letter to Mohammed Hussien Ali Al-Amoudi (Shiekh)...

May 2 , 2020

FILLING UP

Different businesses and individuals have thrown their hats into the effort to fight against the spread of the Novel Coronavirus (COVID-19) in Ethiopia. One of these is Horizon Tyres, which can be see...

May 2 , 2020

SKELETAL BILLBOARD

Only the skeleton of a structure for hanging billboards remains outside the gates of the main campus of Addis Abeba University (AAU). It is instead serving other purposes. Clothing hangs from two of i...

May 2 , 2020

NON-DISTANCING

A metal cutout billboard in the style of three people standing two metres from each other is found in front of Menelik Square in Arada District. It was put in place with the aim of creating awareness...

May 2 , 2020

HiLCoE Switches to Online Courses

HiLCoE, a school of computer science and technology, has fully switched to online classes as a precautionary measure against the spread of the Novel Coronavirus (COVID-19). The School, with more th...

May 2 , 2020

CANAL+ Continues Expanding in Ethiopia

CANAL+ Group, a French audiovisual media company and pay-TV operator, has expanded its services in Ethiopia by signing three more agreements with local media companies. The company has signed new a...

May 2 , 2020

ECX Trades 30.4b Br Worth of Commodities

The Ethiopian Commodity Exchange (ECX) traded 602,823tn of agricultural commodities worth 30.4 billion Br in the last nine months, achieving 97pc of its target. The commodity market has traded 231...

May 2 , 2020

Project Hope Donates N95 Masks

Project HOPE, a United States-based non-governmental organisation (NGO), has sent 56,000 N95 protective masks to Ethiopia to support the response to COVID-19. Dawit Abraham, Project HOPE's country...

May 2 , 2020

Kush Bank Starts Selling Shares

Kush Bank, a new under-formation investment bank, has started selling shares after getting a green light from the National Bank of Ethiopia (NBE). The under-formation Bank secured the green light f...

May 2 , 2020

Standing Committee to Review Election Postponement Bill

The Legal, Justice & Administration Affairs Standing Committee is set to review a bill for the postponement of the upcoming national election. The bill was directed to the standing committee wi...


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