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Ethiopia’s lower house, House of Peoples’ Representative, ratified 3 loans which will be used to finance 2 road construction projects in Addis Ababa and upgrading an electric grid system in the capital city. The move was done 2 weeks after MPs asked Budget and Finance Affairs Standing Committee to assess the nation’s debt repayment capacity. Before the loans were approved, the Committee explained to members of the house the loans will not burden the country and that the country has the capacity to repay the loans.

New aviation policy has been prepared by the Ethiopian Civil Aviation Authority (ECAA) and the document is said to encourage large scale investment from private investors.

ET Switch SC, company established by the banks in Ethiopia and the National Bank of Ethiopia, disclosed it completed transactions worth 1,175,089,410 Birr since it commenced service in May 2016. The company also noted its performance is challenged by high transaction decline rate of 40 percent per month due to connection failure and system failure in its member banks.

Algerian investors showed great interest in investing in Ethiopia. It was during a business forum held in Oran, Algeria that investors revealed their interest.

Construction of the road linking Ethiopia and Kenya, Turmi - Namrapuz, has been concluded and it is now open for traffic, Ethiopian Roads Authority (ERA) disclosed.

Ethiopia and Turkey concluded 5 agreements on Wednesday, December 28, 2016 in Addis Ababa. The agreements are made in the aim of facilitating more trade between the 2 countries.

Ethiopian Sugar Corporation is currently considering to join hands with investors from Ethiopia and abroad to build as well as manage sugar factories.

During the first 5 months of the current fiscal year, Ethiopia earned 211 million USD from the export of oilseeds and pulses. This was disclosed by Ministry of Trade.

Tigray State Trade and Industry Bureau disclosed the first phase construction of Mekelle Industrial Park, one of the industrial park projects being undertaken in Ethiopia, will be completed by the coming February.

Debub Global Bank S.C., one of the late entrants to the banking industry in Ethiopia, registered a 52 million Birr profit in the last fiscal year. The performance is a threefold compared to 2014/2015 fiscal year.