Ethiopia's Oromia International Bank has acquired the 13-storey SA building located on Africa Avenue, Bole Road. The Bank bough the building for 210 million Ethiopian birr in June 2013.
SA building, inaugurated in 2006, lies on 1,192 square meter lot and its construction was estimated to have costed 50 million, according to Fortune.
Add a comment Add a commentThe Ethiopian Trade Enterprise is to open three wholesale stores in Addis Ababa, Fortune reported. The stores will be constructed in Nifas Silk Lafto and Akaki Kality sub-cities and the third store will be located on a property belonging to the Merchandise Wholesale & Import Trade Enterprise in Addis Ketema sub-city.
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The African Development Bank is to approve a USD 130 million loan request for the construction of a 120 KM long expressway spanning from Mojo to Zeway.
Lamin Barrow, resident representative of the banks Ethiopia country office, told The Reporter in an exclusive interview that the Bank will finance construction of the road’s first phase, with the board of directors set to approve the loan in October.
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Reykjavik Geothermal, the Icelandic geothermal development company has agreed to develop as much as 1,000 megawatts of geothermal projects in Ethiopia over the next 10 years, according to Bloomberg.
Reykjavik expects to start drilling test wells next year, Chairman Michael Philipp told Bloomberg in an interview on September 27, in New York.
Add a comment Add a commentThe Ethiopian Ministry of Industry announced its earning target from export of industrial products during the current Ethiopian Fiscal Year.
The Ministry unveiled its target of earning US$1.3 billion from the sector at a press briefing on the performance of the last Ethiopian Fiscal Year and action plan for the current fiscal year.
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