Steely RMI, Century Mall Donate 26.2m Br

Apr 17 , 2020


[ssba-buttons]

Century Mall, Steely RMI and its subsidiaries have given 26.2 million Br in cash and in-kind donations to take part in the nation's initiative to ward off the potential spread of the Novel Coronavirus (COVID-19). The companies donated 150tn of wheat flour worth 3.3 million Br for the city administrations of Addis Abeba and Bishoftu. The management and employees of the companies have also donated half a million Birr in cash. They made 200,000 Br and one million Birr cash donations to the Ethiopian Customs Commission and the national task force that was formed to mobilise financial and non-financial aid for emergency preparedness against COVID-19, respectively. Century Mall also cut the rental fees by half for 226 business that rent spaces inside the mall for three months. By reducing the rental cost by half, the company loses a total of 16.2 million Br. It also committed a four-storey building that has 52 rooms and could generate 5.5 million Br a year in rental fees to serve as a quarantine centre.


Radar

Central Bank, Global Alliance Partner to Enhance Sustainable

The National Bank of Ethiopia (NBE) recently hosted a high-level meeting with representatives from the Global Alliance for Banking on Values (GABV) and selected member banks in anticipation of the 17th GABV Annual Meeting scheduled in Uganda. The meeting convened commercial bank representatives from Ethiopia, alongside a delegation comprising six GABV members, including Centenary Bank and Opportunity Bank Uganda, Amalgamated Bank, Sunrise Banks, City First Bank, and Merkur Cooperative Bank. G...


Radar

Commercial Bank of Ethiopia Adjusts Loan Interest Rates Amid Market Reforms

Commercial Bank of Ethiopia (CBE) has announced adjustments to its loan interest rates, effective March 7, 2025. Bank executives cited rising deposit mobilisation costs and the need to align with market standards as key factors influencing the decision, despite successful internal reforms that have reduced operational expenses. Executives noted that these adjustments are crucial for maintaining its competitive edge and ensuring the continued delivery of efficient services to its clientele. ...


Radar

Chemical Corp Posts Substantial Revenue, Profit Growth in 1Q

The state-owned Chemical Industry Corporation recorded a revenue of 2.53 billion Br in the first half of the 2024/2025 financial year. The Corporation reported a profit before tax of over half a billion Birr, which marks a considerable 182.6pc increase compared to the same period last year. Company officials attributed the growth result to enhanced market reach, effective cost-cutting measures, and optimisation of plant capacity utilisation. Year-on-year revenue growth was noted across variou...