Nyala Insurance S.C., one of the privately owned insurance firms in Ethiopia, declared a gross profit of 77 million Birr for 2015/2016 fiscal year. The performance is 24.2 percent lower than the preceding fiscal year.
KEFI Minerals announced it bought out Tulu Kapi license in Ethiopia from Nyota Minerals for 1.5 Million Euro in cash and shares. KEFI had already bought 75 percent earlier and now it has acquired the rest 25%
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.
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.
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.
