2merkato

A letter urging Ethiopian private banks to purchase new Treasury bills was sent out by the National Bank. The new bills will be charged to the banks’ Payment and Settlement Accounts (PSAs) at the NBE.

An agreement in regards to the purchase of the new bills was made between the Ethiopian Bankers Association and National Bank officials stated Yohannes Ayalew, Chief Economist and Vice Governor of Monetary Stability at the NBE, in his letter to the banks.

Private Banks will purchase T-bills to the value of the money in their PSAs, which approximates 3% of their total deposit according to the agreement mentioned in the letter.

International Finance Cooperation (IFC), member of the World Bank Group, disclosed it will loan 90 million Euros to Afriflora Group, a large-scale rose grower and distributor based in Ethiopia.

According to the statement issued, IFC said the funding for Afriflora is targeted to increase production by 60 percent, install water recycling systems and increase employment up to 50 percent.

The assistance is significant for Ethiopia’s horticulture sector by enhancing export capacity and increase employment opportunity, said German Vegarra, IFC Head of manufacturing, agribusiness and services in Africa.

Afriflora Group, which is founded in 2004, is a manufacturer and marketer of cut-rose products with a large scale production farm based in Ethiopia. The company’s main growing facility is situated in Ziway, Ethiopia. It is one of the largest single rose growing facilities in the world.

Source: Ethiopian News Agency

Ethiopian Airlines, the fastest growing and most profitable airline in Africa, wishes to extend its appreciation to its esteemed customers for their vote of confidence, which has enabled the airline to become for the first time in its 69 years history the largest African carrier with revenue topping 2.3 billion $ in 2013 and profit, according to the airlines ranking of the International Air Transport Association (IATA) published in the 58th edition of World Air Transport Statistics.

Ethiopian Airlines Group, Africa’s leading airline, has become the first African airline to conduct a trial of IATA Travel Pass, a digital travel mobile app to enhance efficiency in testing or vaccine verifications. In a statement sent to 2merkato.com, Ethiopian noted IATA Travel Pass initiative helps verify the authenticity of test information presented by travelers which is essential for ensuring the safety of passengers while complying with entry requirements of countries.

Ethiopian Airlines announced that it has started direct flight to Tokyo's Narita International Airport, effective today, February 15, 2022.