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Feb 8 , 2020

Cost of Living Dips for Third Month

Headline inflation, a measurement of the cost of living, dipped for the third consecutive month, reaching 18.7pc last month, according to the Central Statistical Agency (CSA). The rate showed a 0....

Feb 8 , 2020

Diaspora Trust Fund Finances Five Projects

The Ethiopian Diaspora Trust Fund (EDTF) has pledged its first-ever grant for five projects with a total investment of close to nine million Birr. More than 400 projects were tabled to the Fund, an...

Feb 1 , 2020

Parliament Legislates Investment Law

Parliament approved a new investment law, which is expected to relax the investment environment in the country, on January 30, 2020. Drafted by the Ethiopian Investment Commission law revision task...

Feb 1 , 2020

TAF Inaugurates Aviation Depot

TAF Oil Plc has inaugurated a semi-automatic, jet-A1 fuel storage depot and filling facility. The depot was built for 380 million Br in the compound of Ethiopian Airlines on January 28, 2020. The d...

Feb 1 , 2020

Ethiopia Seeks $1b for Humanitarian Aid

Seven million people need humanitarian aid including emergency food assistance, according to the National Disaster Risk Management Commission (NDRMC). The Commission conducted an assessment beginni...

Feb 1 , 2020

ECX Transacts 17.5b Br in Six Months

Ethiopia Commodity Exchange (ECX) traded 338,253tn of commodities worth 17.5 billion Br in the first half of this fiscal year. The amount exceeds the target set for the period by five percent and h...

Feb 1 , 2020

Enterprise Generates 1.2b Br Gross Profit

The Ethiopian Shipping & Logistics Service Enterprise (ESLSE) grossed more than 1.2 billion Br in profit in the past six months of the current fiscal year. The profit represents 104pc of the En...

Feb 1 , 2020

Emergency Service Provider Joins Market

KECH, a roadside emergency firm, has launched a service that provides fuel delivery, battery jump starts, and flat tire changing for vehicles that breakdown on roadsides. The company also provides...

Feb 1 , 2020

IMF Recommends CBE’s Asset Quality Review

The latest staff report of the International Monetary Fund (IMF) recommends the asset quality review of the Commercial Bank of Ethiopia (CBE) due to tight liquidity. CBE's liquidity ratio dropped l...

Feb 1 , 2020

Electric Utility Employs ERP for $59m

Ethiopian Electric Utility (EEU) has purchased SAP's enterprise resource planning (ERP) software for 59 million dollars. The system was launched on Saturday, February 1, 2020, in the presence of Sh...

Jan 25 , 2020

Red Cross Gets 268m Br in Six Months

The Ethiopia Red Cross Society has gained a total of 268 million Br in the past six months of the current fiscal year. Out of the total, 135 million Br was secured from rental income, project incom...

Jan 25 , 2020

Ministry Collects 127.5b Br in Tax Revenue

The Ministry of Revenues has collected 127.5 billion Br in taxes in the past six months of the current fiscal year. The figure is 101pc of the Ministry's target. Comparing the result with the same...

Jan 25 , 2020

Pump, Engine Testing Centre Breaks Ground

The National Pump & Engine Testing Centre, which tests and certifies locally produced and imported small-scale irrigation pumps and engines, was launched last week. Built for 19.1 million Br fi...

Jan 25 , 2020

State Bank Mobilises 31.8b Br in Deposits

The Commercial Bank of Ethiopia (CBE) mobilised 31.8 billion Br in deposits in the past six months of the current fiscal year. The Bank has mobilised 24.6 billion Br from the private sector in the...

Jan 25 , 2020

COWASH Project Secures 1.3b Br

The Clean Water & Health Care (COWASH) project, which is being implemented in five regional states, secured 1.3 billion Br in financing. The governments of Ethiopia and Finland have agreed to c...

Jan 25 , 2020

Eagle Hills Avails Residential Tower for Sale

Eagle Hills launched the first residential tower for sale at its La Gare Eagle Hills development. The company launched the residential units at an event held at Hyatt Regency Hotel and attended by...


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