Ethiopia: Nyota's License Got Slashed
Nyota Minerals disclosed a significant reduction in renewed license has been made by the Ministry of Mines with regard to the miner’s gold exploration concession in western Ethiopia.
Ethiopia: Oda Solar Power Project Inaugurated in Oromia
The Oda Solar Power Project, a 370-kilowatt solar energy facility built at a cost of Birr 195 million, was officially inaugurated in Medewelabu Woreda, East Borena Zone, Oromia Regional State.
Ethiopia: Off-Grid Energy Challenge Awards 11 African Energy Entrepreneurs
GE Africa, the U.S. African Development Foundation (USADF) and the U.S. Agency for International Development (USAID) on Monday, August 10, 2015, disclosed that an additional USD 1.1 million has been awarded to 11 companies across Ethiopia, Tanzania, Kenya, Nigeria and Ghana.
Ethiopia: OIB Bagged 248 Million Birr Profit
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.
Ethiopia: OIB Reported 71.9% Rise in Annual Profit
Oromia International Bank (OIB) posted a 71.9 percent rise in annual profit. The bank's profit for the year ended on June 30, 2013 totaled 77.5 million birr, Fortune reported.
The Bank’s return on average equities rose to 17.34 percent from 14.8 percent. The bank also managed to mobilize a total deposit of close to 3.1 billion birr, a 44 percent rise from earlier a year, Fortune reported citing the bank's annual audited report.
