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Dangote Secures Gas Deal for Major Fertiliser Project


Dangote Secures Gas Deal for Major Fertiliser Project

Dangote Industries has signed a long-term natural gas supply agreement worth 4.2 billion dollars with China’s GCL Group to support a major fertiliser project. The 25-year deal will supply gas to a planned urea fertiliser plant in Gode, located in Somali Region. The facility is being developed by Dangote Group, which holds a 60pc stake, in partnership with Ethiopian Investment Holdings, which owns the remaining 40pc. The plant is expected to become operational by 2029 and is projected to be the largest fertiliser facility in East Africa once completed. The project is positioned as a strategic response to the country's persistent fertiliser shortage, which continues to constrain agricultural productivity. It aims to strengthen domestic supply, reduce reliance on imports, and support broader food security goals.

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Customs Authorities Intercept Major Alleged Contraband Shipment Worth 422 Million Br

The Customs Commission seized alleged contraband goods worth more than 422 million Br during inspections conducted between June 25 and June 30, 2026. The haul included clothing, electronics, ammunition, construction materials, coffee, vehicle spare parts, cosmetics, khat, narcotics, minerals, livestock and foreign currency. The Addis Abeba Airport, Moyale and Awash customs branches recorded the largest seizures, valued at 115 million Br, 93 million Br and 61 million Br, respectively. Authorit...


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Hijira Bank Posts Record Growth as Assets Reach 31.45 Billion Br

Hijira Bank posted 3.55 billion Br in income in 2025/26, exceeding its combined earnings over the previous four years, while gross profit reached 1.9 billion Br. Assets rose 115pc to 31.45 billion Br, deposits doubled to 24 billion Br, and capital increased 202pc to 7.45 billion Br. Digital transaction value surged 86pc to 41.72 billion Br, foreign currency earnings reached 158 million dollars, and total banking transactions hit 615.39 billion Br. The bank also disbursed 1.5 billion Br in col...


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Gadaa Bank Offers One Million Shares to Public Investors

Gadaa Bank has offered one million shares to the public at 1,050 Br per share following approval from the Ethiopian Securities Exchange (ESX) on June 22, 2026. The share sale keeks to expand the bank's capital base and strengthen shareholder value. The offering will run until September 17, 2026, and is open to existing shareholders and new investors who meet ESX requirements. It is open to existing shareholders and new investors who meet ESX requirements...