Omo Bank secured a gross profit of Birr 77 million during the past six months. The bank got approval from the National Bank of Ethiopia to transition from a micro finance institution to a bank in June last year.
Omo Bank has announced that it had reached a capital of one billion birr, enabling it to provide comprehensive banking services.
Omo Kuraz I Sugar Factory, one of the sugar factories built by Ethiopia, has started production after finishing its trail stage.
Omo Kuraz II, one of the sugar production projects Ethiopia is undertaking under Omo Kuraz sugar development projects, has started trial production this month. The company started crashing sugarcane on March 23, 2017 and sugar production 4 days after that.
Omo Kuraz II, part of the Omo Kuraz sugar development project being undertaken by the Government of Ethiopia, has commenced regular production. It was after conducting a successful trial production starting from March that the company shifted to regular production with only half of its installed capacity.
