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Jan 18 , 2020

Speaker, Deputy Mayor Talk

Takele Uma (centre-right), deputy mayor of Addis Abeba, and city council members held a discussion at parliament with MPs, including Tagesse Chafo (far-right), speaker of the House, on January 13, 20...

Jan 18 , 2020

Agency Bags 305m Br in Revenues

The Documents Registration & Authentication Agency (DARA) generated 305 million Br in revenue during the first half of this fiscal year. The Agency generated the revenue from the 521,769 cases...

Jan 18 , 2020

EEP Hires Spanish Consultancy Firms

Ethiopian Electric Power (EEP) hired two overseas firms to provide consultancy services in the areas of expense reduction and increasing revenues. For the service that is expected to last for one y...

Jan 18 , 2020

New UN Resident Coordinator Takes Helm

Catherine Sozi (MD) has been assigned as the new United Nations Resident and Humanitarian Coordinator, the highest official and the chief of the UN diplomatic mission in Ethiopia. Sozi, from Uganda...

Jan 18 , 2020

Awash Opens Three Full-fledged IFB Branches

Awash Bank has opened three new full-fledged interest-free banking branches, pushing the total number to four. Bole Michael, Sebategna and Berbere Tera are the new branches that will offer exclusiv...

Jan 18 , 2020

Zemen, ECX Tee Up for Transactions

Zemen Bank became the last existing bank to partner with the Ethiopian Commodity Exchange (ECX) for payment transactions. Wondimagegn Negera, CEO of ECX, and Dereje Zebene, CEO of Zemen Bank, signe...

Jan 18 , 2020

Property Disposal Generates 32.7m Br

The Public Procurement & Property Disposal Service (PPPDS) generated 32.7 million Br in revenues from the disposal of used items in the past six months. Tsewaye Muluneh, director-general of the...

Jan 18 , 2020

Ethio telecom Settles 148m Debt in First Half

Ethio telecom, the state telecom giant, settled 148.2 million dollars in debt in the first half of this fiscal year. The value is 41pc of the 362 million dollars debts the company paid last year, m...

Jan 18 , 2020

Ministry Slashes Excise Tax on Cars, Bottled Water

The Ministry of Finance slashed the proposed excise tax on brand new vehicles with engine capacities below 1,300cc from 35pc to five percent. The new revision also reduced the 15pc excise tax on bo...

Jan 11 , 2020

Inconvenient Construction

Similar to the rest of Addis Abeba, this road along Mount Entoto is undergoing major construction work. This is causing soil erosion and inconveniences for both pedestrians and drivers. Large concrete...

Jan 11 , 2020

Watering Hayat

Routine watering of the central island of one of the roundabouts in Addis. This roundabout is located in Hayat, and the area is informally named after it, known as Hayat Adebabay in Amharic. It has fo...

Jan 11 , 2020

Food and Land

A panel discussion was held on the strategy dubbed the New Food and Land Use Economy, which was developed by The Food & Land Use Coalition, on January 9, 2020, at the Hilton Hotel. This particular...

Jan 11 , 2020

Cost of Living Ticks Down Slightly

Headline inflation, the indicator of the cost of living, reached 19.5pc last month, showing a slight fall from the previous month. In November the rate hit 20.8pc, the highest figure in five years...

Jan 11 , 2020

Vandalism Costs Ethio telecom 100m Br

In the first half of the current fiscal year, Ethio telecom incurred an estimated 100 million Br in losses due to damages caused by a total of 547 cases of vandalism to its infrastructure. The find...

Jan 11 , 2020

Sesame Overpowers Coffee Transactions

Sesame leapt above coffee transactions last month on the floor of the Ethiopia Commodity Exchange (ECX), which transacted a total of 101,948tn of agricultural commodities worth more than 5.1 billion B...

Jan 11 , 2020

Development Bank Approves 3b Br Loan

The Development Bank of Ethiopia (DBE) approved 3.1 billion Br in loans during the first five months of the current fiscal year. Out of the total, 58.8pc of it is for the manufacturing sector while...


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