Ethiopia: Trial for AALRT Commenced
Ethiopia’s first light railway tracks as well as railcar testing was undertaken on Sunday, February 1, 2014 in the aim of ensuring the system is up to the standards.
Ethiopia: Tribunal Dismissed Suit Against Heineken
Ethiopian Trade Practices & Consumer Protection Authority’s tribunal has dismissed a suit instigated by Meta Abo Brewery S.C. against Heineken Breweries. This was following both parties failed to appear for the second time.
Ethiopia: Truck Assembly Line Inaugurated
Truck assembly plant built by N.A Metal Industry and Engineering is a PLC, in Ethiopia’s capital, Addis Ababa, was inaugurated. The assembly plant was constructed at an outlay of 250 million Birr and according to the shareholder and managing director of the company, Nebiyou Assefa, explained his firm would assemble trailers, semi-trailers, Sino Trucks and fuel tankers.
Ethiopia: Tsedey Bank Says Its Total Asset is Birr 44 Billion
Tsedey Bank disclosed that it was working to have a total asset of Birr 65 billion in the coming five years during its 1st shareholders’ meeting which was held in Bahir Dar. Its current asset totals Birr 44 billion while its subscribed capital stands at Birr 11 billion.
Ethiopia: Tsedey Bank to Launch Services
Tsedey Bank announced that it would launch operations on Saturday with a subscribed capital of Birr 11 billion and a paid-up capital of Birr 7.8 billion. Tsedey has a total of Birr 46 billion in assets.
According to the CEO of the bank, Mekonnen Yelewmwessen, Tsedey Bank is equipped with modern technology. The bank will have 148 branch offices when it starts operation. Its aim is to open branches in all areas of the country.
Source (including image): Fana BC
