2merkato

Oromia International Bank (OIB), one of the private banks in Ethiopia, made 248 million Birr profit in the last fiscal year. The profit is 12 percent higher than the bank’s performance during 2015/2016.

Africa’s largest airline group, Ethiopian Airlines, is pleased to announce that it has been awarded Africa Best Employer Brand and Business Leadership Excellence Awards at the 3rd Edition of AFRICA BEST EMPLOYER BRAND AWARDS ceremony held in Mauritius on December 06, 2016.

500 investment projects with a total capital of 5.3 billion Birr were licensed in the first quarter of the current fiscal year by Amhara State, Ethiopia. Among these projects 24 of them have gone operational and they have created job opportunities for more than 2000 people.

The contractors of Genale Dawa III hydroelectric power project brought in new tunnel boring machine (TBN) to enhance drilling work of headrace tunnels. The machine is going to replace explosives, which the project is using now.

According Central Statistics Agency (CSA), Ethiopia’s year on year inflation has rose to 7 percent in November. The inflation rate in the October was 5.6 percent.

Addis Ababa City Beautification and Administration Agency made a purchase of 20 dry waste loading trucks at an outlay of 105 million Birr. 10 of these trucks are going to be used for compacting and transporting 100 meter cubic dry waste while the other 10 will clean Ethiopia’s capital asphalt roads during the night time.

Tanzanian power utility disclosed that it anticipates to start importing electricity from Ethiopia by 2019.

The Indonesian pharmaceutical company, Sanbe Farma Company, is aiming to invest in pharmaceuticals industry of Ethiopia. Such was disclosed by the company’s president, Dr. Jahja Santose.

Delegation team from Ethiopia attended African Investments and Business Forum held in Algiers, Algeria. The forum was held from December 3 to 5, 2016 under the theme of “Towards a new dynamic”.

U.S. Embassy Chargé d'Affaires Peter Vrooman and Commissioner of the Ethiopian Investment Commission Fitsum Arega joined the board of the newly established American Chamber of Commerce in Ethiopia to mark the organization’s official launch.