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Ethiopian Awarded Full Membership of the ICAO TRAINAIR PLUS - 05 Jun, 2015

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Category: Latest Business Alerts

EALEthiopian Airlines is pleased to announce that Ethiopian Aviation Academy, the largest aviation academy in Africa, has been awarded full membership of the ICAO TRAINAIR PLUS from May 20, 2015.

Last Updated on 09 June 2015
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Ethiopian Bank Announces 630 Million Birr Profit

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Category: Banking and Finance

Dashen Bank Share Company announced a profit of more than 630 million birr in 2010/11 fiscal year. The announcement was made at the 17th regular meeting of the bank on Tuesday in Addis Ababa, Ethiopia.

The Bank paid 179 million birr in profit tax to the government from its profit according to Teklu Haile Chairperson of the Board of Directors.

Last Updated on 14 August 2013
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Ethiopian Bank Approves 1.5bln birr Loan to Habesha Cement

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Category: Latest Business Alerts

The Development Bank of Ethiopia (DBE) approved last Tuesday a 1.52 billion birr loan to Habesha Cement.

The company had sought from the bank 70 percent of the fund it need for setting up a cement factory in the country.

The bank is currently drafting the loan agreement and it is expected that the parties will sign the deal next week.

The annual production capacity of Habesha’s first factory is projected to be 1.4 million tonnes of cement a year, according to Mesfin Abi, CEO of the company.

Last Updated on 14 August 2013
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Ethiopian Bank Introduces Swift Cheque Value Transfer

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Category: Banking and Finance

The National Bank of Ethiopia (NBE) introduced to banks on September 19, 2011a Swift Cheque Value Transfer, an interbank payment system, to ensure prompt exchange and transfer of cheques above 200, 000 birr.

The SWIFT cheque value transfer allows for the head offices of banks to use Real Time Gross Settlement (RTGS) in settling high value cheques within six hours.

“This is a good move on the part of NBE,” Anteneh Assefah, vice president of Abyssinia Bank, said. 

Last Updated on 14 August 2013
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Ethiopian Bank Launches Services for Union Card

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Category: Banking and Finance

Dashen Bank launched electronic banking services for Union Card holders this week. This service is aimed to serve the increasing numbers of Union Card holders including the growing number of Chinese citizens in Ethiopia according to Lulseged Teferi President of Dashen Bank.

Dashen Bank is the first Bank in Africa to sign a partnership agreement with UnionPay said Lulseged. It is expected that agreement with UnionPay, which has over 2.5 billion clients worldwide, will significantly influence the growth of Dashen he explained.

Last Updated on 14 August 2013
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