2merkato

National Cement S.C (NCSC), located in Dire Dawa, Ethiopia, has started exporting cement to neighboring Djibouti and Somaliland.

National Cement, the previously state owned Dire Dawa Cement Factory, commenced export after it began production with its full capacity following completion of   expansion at a cost of 2 billion Ethiopian birr.

The National ID program has officially launched the “Fayda App,” offering a one-stop platform for all Fayda services. The app, available for both Android and iOS, enables users to retrieve their Fayda number, access digital ID services, and select between a physical or digital ID card. Additional features include card printing options, customer support access, and a feedback system.

The National Insurance Company of Ethiopia registered 25.2 million in profit before taxes for the previous financial year. The profits recorded by the insurer have increased four times over in the last twenty years according to sources.

The company’s before tax returns had been no more than 5 million birr in the past years according to Tewdros Bogale, Deputy General Manager of Corporate Affairs with the NICE.

The insurance company’s net profit after taxes was nearly 18 million birr enabling it distribute 1096 birr per share to its shareholders.

The National Mining Corporation announced that it has 128 tons of gold ready to be mined in Ethiopia. The Gold is to be found at the Okote project operated by National Mining.

It is expected that the reserve will translate into a significant mine with little exploitative work and an appropriate definitive feasibility study claimed the corporation in the statement it released.

The overall reserves of the Okote concession to be found in Oromia Regional state are estimated to total 454 tons of Gold elaborated the statement. The site could potentially produce about 10 tons annually effectively doubling the gold output of Ethiopia explained a statement from National last March.

National Mining Corporation announced the discovery of gold deposits in Southern Ethiopia estimated at 10 metric tons a year, nearly double of the current national output.

The Okote site has shown to have more than 550 tons of gold with 73 tons expected to be ready for extraction in 2 years said Melaku Beza, Chief Executive Officer of National Mining.

The company is planning to invest 150 million US dollars to initiate the first phase of the production he said.