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Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 10 February 2023.

Somali Micro Finance, which is known for its mobile finance service called Hello Cash, transforms into a bank named Shabelle. The bank is formed with a capital of more than Birr 500 million.

Somali Micro Finance was established in 2011. It is the third micro finance institution in Ethiopia to evolve into a bank following Oromia Credit and Saving Institution and Amhara Credit and Saving Institution. Shabelle Bank conducts all its operations under the principles of Islamic Banking.

Source: Fana BC

Additional source: Shebelle Bank

Ethiopian Construction Works Corporation (ECWC) gained Birr 3.1 billion in revenue in the first six months of the 2022/2023 fiscal year from building, road and bridge, and water resource development projects. It also registered a gross profit of Birr 306.5 million during the same period.

Oromia Industrial Park Development Corporation (OIPDC) inked agreements with eight local and foreign companies that would join Bulbula Integrated Agro Industrial Park. The companies will be engaged in tomato processing and the production of avocado oil, animal fodder, and dairy products.

The Ministry of Finance made an invitation for the submission of proposal from interested parties to partially privatize Etho Telecom. According to the Ministry, companies that did not submit an expression of interest during the call to partially privatize the company in November last year are welcome to submit their proposals.

Pakistani investors who are engaged in the pharmaceutical industry express their interest to invest in Ethiopia. A delegation of representatives of companies based in Pakistan led by the President of Islamabad Chamber of Commerce and Industry Ahsan Zafar Bakhatawari held a meeting with Ethiopia’s Ambassador to Pakistan, Jemal Beker Abdula.

Southern Nations’, Nationalities’, and Peoples’ Region (SNNPR) licensed 96 investors who collectively had Birr 9.3 billion capital during the first half of the current fiscal year. The investors are currently engaged in agriculture, service, and industry sectors.

The Regional State was also able to create job opportunities for 200 thousand citizens. It is expected that the newly licensed 96 companies will employ 46 thousand citizens when they become fully operational.

Source: Ethiopian News Agency

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 9 February 2023.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 8 February 2023.

The Ministry of Industry announced that it was working to replace imported electric cables and transformers with locally produced products during a discussion forum with Ethiopian Electric Power (EEP), Ethiopian Electric Utility (EEU) and other stakeholders. The institutions have signed a memorandum of understanding which enables them to work together.