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Ministry of Urban and Infrastructure announced that a regulation which would help resolve problems in the construction sector was drafted. Corruption, compromised quality, and delay in completing projects are some of the problems seen in the construction sector.

The Commercial Bank of Ethiopia (CBE) and Seregela PLC inked an agreement to collaborate on payment systems. The agreement will enable customers of Seregela to effect payment using CBE card, mobile banking, or CBE Birr.

A company that assembles electric cars will begin operation in Debre Birhan after three months. The car assembly company, which is owned by Belayneh Kinde, will assemble one thousand cars annually once it becomes fully operational. It is also expected to create employment opportunities for 500 individuals.

Akobo Minerals, a Norway based gold exploration and mining company, will start production after three months. The company is expected to generate USD 100 million annually once it becomes fully operational.

Ethiopia earned USD 32.61 million from five months’ electricity export to Sudan and Djibouti. The country sold 580 million KW to the neighboring countries. However, the revenue gained during the past five months showed a USD 6.2 million decrease when compared to the same period in the 2021/2022 fiscal year.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 12 January 2023.

Ethio Telecom earned a revenue of Birr 33.8 billion during the first half of the current fiscal year while increasing the number of its subscribers to 70 million. Out of the 70 million subscribers, 67.7 million are users of the Company’s mobile voice service. The number of subscribers for data and internet has reached 31.3 million.

Hawassa is hosting the National Micro, Small and Medium Enterprises’ Exhibition and Bazaar for the first time. The city was chosen to host the exhibition, among other reasons, to enhance Regional States’ capacity and experience in preparing national exhibitions. 

The exhibition is expected to stimulate the economy of Hawassa. It will see the participation of 224 micro and small enterprises and 22 small and medium manufacturing industries. In addition, it is anticipated that the exhibition will welcome more than 35 thousand visitors.  

Source (including image): Fana BC

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 11 January 2023.

Ethiopian Airlines, the leading airline in Africa, announced in a press release sent to 2merkato.com that the frequency of its flights to Chinese cities would increase as of 6 February 2023. The frequency will ultimately return to the pre-COVID19 levels on 1 March 2023 following the lifting of restrictions by the Government of China. As of 6 February 2023, Ethiopian Airlines will operate daily flights to Guangzhou while increasing its weekly flights to Beijing and Shanghai to four each and maintains the trice weekly operation to Chengdu.