Global Bank Ethiopia announced that its paid-up capital has reached Birr 5 billion during the 2024/25 fiscal year. The Bank noted that its paid-up capital in the 2023/24 fiscal year was Birr 2.4 billion, reflecting a growth of more than 100 percent within one year.
The Global Geospatial Data Infrastructure and Africa GIS Conference opened in Addis Ababa, Ethiopia on Monday.
The theme of the event is titled as "Spatial Enablement in Support of Economic Development and Poverty Reduction".
Ethiopian Prime Minister Abiy Ahmed, writing on Financial Times (FT), pointed out “there is a major flaw” in how the world is dealing with the coronavirus pandemic, while the wealthy rush to stimulate their economies without similar meaningful interventions in Africa. If the virus is not defeated in Africa, PM Abiy argues, “It will only bounce back to the rest of the world.” He also called on the G20 to launch a global fund to prevent health systems in Africa from collapsing.
Goda Bottle and Glass Share Company is going to construct bottle and glass factory in Adigrat with 600 million Birr cost, according to Fana Broadcasting Corporate.
Gold production by artisan miners in Ethiopia has been 37% less than projected output in the just concluded financial year.
The artisan miners produced 8327 kilograms of gold as opposed to the 13,200 kilograms anticipated by the Ministry of mines.
The revenue earned from the export of gold however was only 17% below the projected revenue due to the increased price of gold on the international market. Consequently the revenue was just 88 million US dollars short of the 528 million US dollars projected by the ministry noted a report from the MoM.
The performance registered in the reporting period, however, exceed that of the previous year with the total amount exported (6,515 kilograms) surpassing what was exported last year (5250 kilograms).
