Ethiopia’s export revenue from oil seeds, pulses and spices took another hit for a third consecutive year as global price falls. The export revenue suffered from the consistent global prices fall which the Ministry of Trade (MoT) and commodity exports plan to avert it by expanding export volume and meeting export targets.
Omo Bank announced that it was able to collect a revenue of Birr 1.5 billion during the 2021/2022 fiscal year. The bank also distributed loans which total Birr 3.5 billion. In addition, its total assets have reached Birr 12 billion.
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.
