Miners say they are able to save money to buy cars and houses thanks to government’s focus on safety and health issues. The Ethiopian highlands are often called “the roof of Africa”. It’s a rugged, breathtakingly beautiful landscape and a discovery in recent years has got precious gem experts around the world excited: opals. Ethiopia’s
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By William Davison (Bloomberg) — Ethiopia will develop a secondary market in government and corporate bonds next fiscal year to expand the country’s fundraising options, a central bank official said. The National Bank of Ethiopia will create the market in the year ending July 7, 2016, Yohannes Ayalew, vice governor of monetary stability, said
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Tadesse Tilahun, the chief executive of National Oil Ethiopia By Wendell Roelf CAPE TOWN (Reuters) – Ethiopia’s leading private oil marketer plans to build a $5 billion refinery within ten years to meet the growing demand for refined products in a region experiencing fast economic growth. A refinery could compete with imports from India, the
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Tadesse Tilahun, the chief executive of National Oil Ethiopia By Wendell Roelf CAPE TOWN (Reuters) – Ethiopia’s leading private oil marketer plans to build a $5 billion refinery within ten years to meet the growing demand for refined products in a region experiencing fast economic growth. A refinery could compete with imports from India, the
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ADDIS ABABA (Reuters) – Ethiopia’s inflation rose to 7.7 percent year-on-year in January from 7.1 percent in the previous month, the statistics office said on Friday. The Central Statistics Agency attributed the jump to higher prices of food and non-food items. Prices for such items as meat, dairy products, vegetables and fruit increased 7.1 percent
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By Edmund Blair ADDIS ABABA, Feb 4 (Reuters) – Ethiopian banks and microfinance firms are launching mobile money services, helping reach swathes of the population that now have little access to branches or services, the mobile technology providers and banks said. The launch of the services, which allow customers to make payments or receive money
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ADDIS ABABA- Reuters: Ethiopia’s ambition to become a manufacturing hub may hinge on Khalid Bomba’s ability to transform small-scale farming just as much as it relies on new railways, roads and other more obvious signs of change in a nation once brought to its knees by famine. The 46-year-old one-time investment banker is now chief
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NAIROBI (Reuters) – Private equity firm Ascent Capital wants to increase its east Africa fund to $60 million by mid-2015 from $50 million it has raised so far and plans to announce completion of its first investment in about two weeks, a partner said on Monday. Ascent is one of several private equity firms to
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By Simona Foltyn Low wages have attracted foreign players to the poor African country, but labourers are hoping for better salaries. Within a few years foreign companies have helped build up Ethiopia’s nascent industry [Simona Foltyn/Al Jazeera] Addis Ababa, Ethiopia – Lunch break is over at the Huajian shoe factory and workers assemble in perfectly
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A public bank branch to open in EthiopiaISTANBUL — In accordance with Turkey’s African Expansion Strategy, a Djibouti and Ethiopian Trade and Engineering Committee was established under Economy Minister Nihat Zeybekci. Speaking at the Ethiopia-Turkey Business Forum, Zeybekci announced that the expansion strategy will be maintained and cooperation with Djibouti and Ethiopia, which are the
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