Ethiopia's sole telecom services provider Ethio Telecom reported that it has collected $650 million (25.6 billion birr) till the end of December, during the half-year of the current fiscal year. This has shown a 12 percent rise in revenue compared to the previous year.
Mohsen Ramez, Managing Director of Pharmaceutical Companies of Johnson & Johnson, told Hirtu Zemene, Ethiopia's Ambassador to Belgium, Luxembourg, and EU institutions that he "understands the potential" of Ethiopia's market, and Janssen is already in the process of entering the Ethiopian market as it has begun the process of registering four of their medicinal products.
Ethiopia will be self-sufficient in wheat production and will no longer need to import the crop soon, the Ethiopian Ministry of Agriculture announced. This is pursuant to wheat irrigation projects carried out in the Amhara and Oromia regions.
The Ethiopian diaspora has sent $1.4 billion to the country in five months alone, Selamawit Dawit, Director-General of the Ethiopian Diaspora Agency announced. “We have done a lot of works in terms of promoting legal means and mobilizing legal means for the Diaspora to use it and to have the best possible performance on remittances,” she said.
NISK Capital disclosed that it is interested in operating in Ethiopia. Irene Ndikumwenayo, the East Africa Bureau head of the Washington-based financial institute with operations in Kenya and other African countries, said there is "ample opportunity" for his NISK Capital in Ethiopia.
Mr. Ndikumwenayo made the remark after conferring with Meles Alem, Ethiopia's Ambassador Extraordinary and Plenipotentiary to Kenya.
During their meeting, Ambassador Meles has briefed Mr. Dukumunayo on the ongoing economic reforms of Ethiopia, and how his company stands to benefit from these.
Irene Duquinium, for his part, said there is ample opportunity for NISK Capital to venture into Ethiopia.
NISK Capital is a boutique investment banking and advisory firm providing end-to-end services to Small and Medium sized Enterprises (SMEs) across the East African Community (EAC).
The construction of Dilla Industrial Park, constructed with over 400 million and resting on 20 hectares, located in Ethiopia's Southern Nations, Nationalities and Peoples' Region, is now complete, the region's Industrial Parks Development Corporation (IPDC) office disclosed. The other industrial park set to be opened in the region, Yirgachefe Industrial Park, is also nearing completion, it was disclosed.
The Turkish home and electric appliances manufacturer KUMTEL has opened an Ethiopian coffee house in Istanbul, Turkey, with its own packaging facility.
Ethiopian Ministry of Trade and Industry (MoTI) said it plans to collect $9 billion in the next ten years. The Ministry aims to achieve this mainly by increasing the export potential of Ethiopia's manufacturing industry. The Ministry also announced that it aims to make Ethiopia in the top 50 countries in ease of doing business.
Ethiopia and the World Bank have inked a $100 million financing agreement to help support entrepreneurship.
Signing the agreement were Yasmin Wohabrebi, Ethiopia's State Minister of Finance, and Ousmane Dione, World Bank Country Director for Ethiopia, Sudan, South Sudan, and Eritrea.
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Ethiopia's Ministry of Trade and Industry announced Ethiopia has obtained $1.33 billion from exports during the past five months. This stands at 94% of the $1.41-billion-target set for the period.
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