Zemen Bank disclosed it made a gross profit of 165 Million Birr and a net profit of 128 Million Birr during the last fiscal year. This figure is 36 percent higher than the Bank’s 2012/2013 fiscal year performance which saw 123.8 Million Birr before tax profit.
Zemen Bank SC, one of the private banks in Ethiopia, disclosed it has registered a net profit of 263.8 million Birr in the last fiscal year. This is a 30.5 percent increase compared to the previous fiscal year’s performance.
The Chinese telecom company ZTE concluded installation work for 1,234 kilometers of optical ground wire, also known as OPGW lines, in Ethiopia. The contract for the installation, which was worth 37 million USD, was signed on May 2013 between the Chinese telecom giant and Ethiopian Electric Power.
Ethiopia’s under construction electrified railway project, Awash-Kombolcha-Woldia Hara Gebeya, has reached 57 percent completion rate. The project reached this stage in 2 years time.
Addis Ababa City Roads Authority (AACRA) concluded three contracts with local contractors for the execution of road projects that will cost 139 Million Birr.
