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Tanarmu Chemical Acquires Bromine Mining License

Jul 11 , 2021

Tanarmu Chemical Industrial Plc, a Chinese-owned company, has acquired a license to mine for bromine in Afdera, Afar Regional State. Previous surface and subsurface exploration discovered significant bromine deposits in the area. The company is gearing up to extract bromine, a component of fertilisers, pesticides and phramaceutical products, in the form of hydrobromic acid. It plans to export the bromine to China. The Ministry of Mines & Petroleum expects to earn an income of 45 million dollars annually, based on Tanarmu's feasibility study. The Ministry has permitted tax-free privileges for the company's import of machinery and chemicals until the start of production.

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Ethio Telecom Launches New Marketplace with Cash-Back Guarantee

Ethio Telecom has launched Zemen Gebeya, a nationwide digital marketplace integrated into the telebirr SuperApp, offering a secure platform for consumers and businesses to trade goods and services. The platform includes a built-in escrow service, allowing payments to be held temporarily until the buyer confirms delivery. If a product is not delivered or the buyer is dissatisfied, the payment is returned—creating a cash-back guarantee model designed to build trust in online transactions. Lau...

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Ethiopia-Israel Business Forum Opens Doors to Investment Opportunities

The Ethiopia-Israel Business Forum took place last week at the Hyatt Regency Addis Abeba, bringing together Ethiopian government officials and investors from Israel. Officials presented a range of investment opportunities, while Israeli investors expressed interest in entering the market. The forum opened with remarks from the foreign ministers. Gedion Timotheos, Ethiopia's Minister of Foreign Affairs, used his address to extend a formal invitation to the Israeli business community, stressing...

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National Bank Injects Millions Through Foreign Currency Auction

The National Bank of Ethiopia (NBE) is continuing its push to stabilise the foreign exchange market, injecting millions of dollarss into the economy through a series of currency auctions. According to official data, the latest auction was held on May 7, 2025, during which 60 million dollars was supplied to 16 participating banks at an average exchange rate of 132.9643 Br per dollar. In the previous month, the NBE held two auctions: 70 million dollars was offered on April 16 to 26 banks at an...

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