Amhara Bank Leads Charge in Exchange Investment


Amhara Bank Leads Charge in Exchange Investment

Amhara Bank has emerged as a major player in the development of the stock exchange, acquiring a significant stake worth 90.6 million Br. This investment marks the largest holding among commercial banks, surpassing Awash Bank's 70 million Br. Chanyalew Demisse, Amhara Bank's interim president inked the agreement last week with Tilahun Kassahun, CEO of ESX, joining Zemen, Siinqee, Global Ethiopia, Awash, and Hibret banks. The government established the ESX to raise a total of 625 million Br from the private sector. The ESX has secured a substantial portion of its target funding with 275 million Br sourced from four state-owned enterprises under Ethiopia's Investment Holdings and FSD Africa. It is expected to launch next year and is positioned to play a transformative role in Ethiopia's economy.

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Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


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Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

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Jimma University Signs Sports Science Agreement to Strengthen National Programmes

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