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The National Mining Corporation plc announced that it discovered gold and base metal reserves in Ethiopia. The Ethiopian mineral discoveries were made in Oromia and Tigray regional states.

The mining corporation estimates that the 550,000 kg gold reserve at Dawa Okote, in Oromia Regional State is worth more than 4 billion US dollars according to Melaku Beza General Manager of National Mining.

The gold reserves discovered at Werri, Tigray Regional State have estimated gold reserves of 18,000 kg expected to be worth 792 million US dollars explained Melaku.

The National Oil Corporation (NOC), in collaboration with Q8Aviation, has expanded its aviation activities in Ethiopia by launching jet fuel services at Gambella and Assosa airports.

The new operations at Gambella and Assosa airports are an important step in NOC’s long term plans to expand its aviation business according to Shisema Shewaneka, Chief Operation Officer of NOC.

The National Bank of Ethiopia concluded contract with Afcor PLC. local vendor for the supply of IBM equipments and database solutions for worthing USD one million. Six months ago, NBE has contracted the Indian company Polaris to replace its old CORE Banking system for USD 3.4 million.

Twelve companies bought bid documents, and three has submitted offers for the international tender floated in December 2012. Other than Afcor; United System Integrators (USI), which supplies Hewlett Packard (HP) hardware, and Boston Consulting, supplier of Oracle, also participated.

The National Bank of Ethiopia (NBE) has drafted a directive which sets priorities and establishes the “first come, first served” rule which should be observed by banks when allotting foreign currency, according to The Reporter.

The National Bank of Ethiopia have awarded Oberthur Technologies, a French currency printing company,  printing contract of five Birr notes worth three billion Ethiopian Birr, Fortune reported.

The Central Bank selected  the company three weeks ago, out of five companies which participated in the bid. The German-based, Gieseck & Devrient; Switzerland’s, Swiss Crane; the Swedish, EnSKEDE and the UK’s, De La Rue, responded to the tender, along with Oberthur Technologies.