ZayRide Avails Company Shares to Public


ZayRide Avails Company Shares to Public

The first taxi-hailing company, ZayRide made a total of 300 million Br worth of shares available to the public. The company offers a minimum of 25,000 Br worth of shares for drivers while 75,000 Br is set as a minimum for other interested shareholders. The ceiling is set for 5,000 shares at five million Birr. Under Habtamu Tadesse, the first taxi-hailing company has won a two-year court battle with its contender RIDE which had its accounts frozen by court injection, nine months ago. ZayRide has expanded its service to five cities since then, with 16,000 drivers under its fleet. "We'll be starting services in Tigray Regional State in the next couple of weeks," said Habtamu, during a press conference held at the headquarters on Snap Plaza, on Africa Avenue (Bole Road).

[ssba-buttons]

Radar

Dangote, EIH Break Ground on Mega Fertilizer Plant in Somali Region

Ethiopian Investment Holdings (EIH), the state's sovereign investment arm, has struck a deal with Dangote Group to build one of the world's largest urea fertiliser complexes in Gode, Somali Regional State. The 2.5 billion dollars project will see EIH hold a 40pc stake while Dangote keeps 60pc. With agriculture employing over 70pc of Ethiopians, the government hopes the factory will cut fertiliser costs, create jobs, and boost crop yields while positioning the country as a regional hub. Design...


Radar

CBE Capital Joins Nib Bank for Market Expansion

Nib International Bank has partnered with CBE Capital, the investment arm of the Commercial Bank of Ethiopia (CBE), to expand investment banking services and shore up its finances. The deal covers advisory services, seeking to strengthen Nib's balance sheet, attracting capital, and positioning the bank in a modernising financial sector. The partnership follows a difficult year for Nib, where net profit dropped 36pc to 957.9 million Br and deposits shrank, despite paid-up capital climbing to ...


Radar

Credit Cap Nears Lift-Off

The National Bank of Ethiopia (NBE) is preparing to lift its long-standing credit cap by September, unlocking 1.3 trillion Br in bank lending. The move, flagged by board member and State Minister of Finance Eyob Tekalegn (PhD), follows years of complaints from businesses that borrowing limits choked large-scale projects. Eyob told a local radio station the reform reflects rising investor appetite and improved economic conditions, though he admitted "financing has been the biggest bottleneck for...