Ethiopia has earned US$281 million from the manufacturing sector during the concluded fiscal year, the Ministry of Industry said.
Corporate Communication Director with the Ministry, Melaku Taye told Ethiopian News Agency over the weekend that the stated sum secured during the reported period is 52 percent of the US$542.4 million target set by the ministry. Add a comment Add a comment
Ethiopia's Cooperative Bank of Oromia S.C. has reported earning of 263.75 million Ethiopian birr Gross profit in the 2012/13 fiscal year.
At a meeting held on Saturday August 10, 2013 at Saro-Maria hotel, the executives of the Bank stated that this year’s performance has shown an increase of 88.70 percent compared to the previous year’s performance, which was 139.8 million birr.
Add a comment Add a commentThe Ethiopian Petroleum Supply Enterprise announced the resumption of importing benzene from Sudan as of August 12, 2013 after four months suspension.
According to a letter written to all the nine oil retailers operating in Ethiopia, the enterprise announced that all dealers should mobilize their trucks to import fuel from Nile Petroleum Depot located in Al Shagara, near Khartoum. Add a comment Add a comment
Ethiopia's Nyala Motors S.C, exlusive distributor of motor vehicles and equipments announced plans to establish assembly plant for Nissan vehicles in Ethiopia. Abraham Abegaz, CEO of Nyala Motors, said the plan might take up to five years.
The Ethiopian Ministry of Mines is to reduce the validity duration of artisanal mining license from nine years to a maximum of two years, Fortune reported. The provision is said to be included under the draft mining proclamation which also include numerous amendments to the 2010 mining proclamation.
Under the current law, artisanal mining license can be renewed twice for three years. Additional amendment under the draft proclamation include provision which reduced royalty from the sale of gemstones from the current 8 percent to 7 percent. Add a comment Add a commentThe Ethiopian Chapter of Women Entrepreneurs was launched on the eve of the 12th African Growth and Opportunity Act (AGOA) forum, which took place from 9-12 August, 2013, in Addis Ababa, Ethiopia.
The Ethiopian Chapter of Women Entrepreneurs was founded by fifty Ethiopian women entrepreneurs gathered at the headquarters of Enat Bank. Samrawit Moges, current president of the Alliance for Women Entrepreneurs Ethiopia Chapter, told The Reporter that the launching coincided with the summit to increase promotion and communications. Add a comment Add a commentThe National Bank of Ethiopia has extended the launch of its CORE banking solutions by two months, Ethiopia's weekly business paper Fortune reported. NBE has contracted Polaris Financial Technology Ltd., an Indian company for US$3.4 million to replace its outdated Bank Master system with a new CORE banking system called Intellect. 
The Ethiopian Commodity Exchange (ECX) said it transacted 2.65 million metric tons of commodities over the past five years. According to a statement posted on its website, the total sum of all commodities traded at the ECX has reached 90 billion Ethiopian birr. 
Ethiopia's privately owned Awash International Bank has reported a 639 million Ethiopian birr unaudited gross profit in the 2012/13 fiscal year. Tsehay Shiferaw, President of AIB, told journalists at a press conference held on Friday August 2 at the Addis Ababa Hilton Hotel, that the bank's profit has grown by 180.6 million birr (18%) compared to the previous fiscal year.
