Dashen Bank has contracted for the construction of two branches in the Ethiopian towns of Gondar and Dire Dawa. The 
construction projects are expected to cost a total of 103.5 million birr.
The construction of the Dashen branch in the Northern town of Gondar will be carried out by Orbit Engineering plc. The contractor won the project for 37.5 million birr and took charge of the building site last week.
Dashen Brewery Share Company’s second plant built in Amhara Regional State of Ethiopia was inaugurated on November 15, 2015, Fana Broadcasting Corporate reported.
The Development Bank of Ethiopia has pulled out of a 1.52 Billion Birr Loan agreement made with Habesha Cement according to sources.
The bank had approved the loan which was expected to cover more than 70 percent of the funding of the proposed cement factory more than a year ago.
The bank pulled out of the argument it had endorsed in September 2011 on the basis of its inability to disburse money at this time.
Debre Birhan city announced that it was working to enable 24 industries start production within the second half of the current fiscal year. The city made the same announcement in November last year.
Debub Global Bank is set to enter the banking sector in Ethiopia as the 15th private bank after receiving a license from the National bank and a trade permit from the Addis Ababa Trade Bureau at the end of the month.
The bank expects to launch operations in July with two branches in Addis Ababa and one each in Hosanna and Hawassa according to Workku Lemma President of Debub. It is currently in the process of setting up offices, seeking companies to provide IT services and CORE banking solutions in particular as well as hiring staff.
The bank will require a commencement letter from the central bank which will conduct a field inspection to affirm that it is ready to begin operations.
