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Ethio Telecom, Djibouti Telecom, and Sudatel Telecom Group have signed a Memorandum of Understanding (MoU) for the Horizon Fiber Initiative. This transformative project aims to enhance digital connectivity across Africa, linking the Horn of Africa to Europe and Asia through a high-capacity, redundant terrestrial fiber optic network.

The Ethiopian Investment Commission (EIC) announced today that 10 of the country's industrial parks have been promoted to Special Economic Zones (SEZs) under a new initiative to attract Foreign Direct Investment (FDI), boost job creation, and enhance trade and productivity.

The International Monetary Fund (IMF) has announced a staff-level agreement with Ethiopia, marking a progress in the second review of the country’s four-year Extended Credit Facility (ECF) arrangement. Pending formal approval, Ethiopia will gain access to an additional USD 251 million, aimed at stabilizing the economy and fostering sustainable growth.

Sidama Bank recorded a net profit of Birr 71.6 million for the previous fiscal year, surpassing its initial profit target by 58 percent. The announcement was made during the bank's third regular and third emergency general meeting of shareholders, held in Hawassa.

In a move to boost the operational capabilities of Ethiopia's Dire Dawa Free Trade Zone, a formal cooperation agreement has been signed with Azerbaijan’s Alat Free Trade Zone. The agreement was reached during a recent visit by a high-level delegation of Ethiopian government officials to the Alat Free Economic Zone in Azerbaijan.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 02 December 2024.

The Addis Ababa Investment Commission (AAIC) announced that 612 investors registered a combined capital of Birr 2.93 billion in the first quarter of the fiscal year, reflecting a 13% growth compared to the same period last year.

The Addis Ababa Investment Commission (AAIC) announced that 612 investors registered a combined capital of Birr 2.93 billion in the first quarter of the fiscal year, reflecting a 13% growth compared to the same period last year.

The Ministry of Water and Energy (MoWE) has announced that the country’s energy generation capacity has exceeded 6,000MW.

Kurmuk Gold Mine PLC has announced its gold mining plant will begin commissioning by the end of 2025, with full-scale commercial production starting in 2026. The project, located in Benishangul-Gumuz State, is Ethiopia’s largest mining initiative and a key player in the region’s mining industry.