Swedish Group Invests in Retail Shops

Aug 17 , 2019


[ssba-buttons]

Swedish International Development Cooperation (SIDA) has partnered with East African Holdings Group and Wise, a nongovernmental organisation, for the construction of 200 shops at a cost of 20 million Br. The programme, which will benefit around 2,800 women, will see the construction of shops that will exclusively wholesale and retail a select group of 19 East Africa products. “The programme allows us to shorten the market chain and is part of our social responsibility,” said Fitsum Nigusse, marketing and corporate communications director at East Africa. East Africa has 6,000 permanent and temporary employees and produces over 100 different products. The other partner in the programme, Wise, will give training and assistance to the women. The project launched by SIDA is part of a five-year programme dubbed Livelihoods Improvement for Women & Youth (Li-Way). The programme aims to contribute to sustainable poverty reduction and social stability through improved livelihoods in Addis Abeba.


Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...