Ethiopian Business Portal

Nine Oil Exploration Companies Active in Ethiopia

Nine oil exploration companies are actively operating in Ethiopia with an estimated investment of 2.4 billion US dollars according to the Ministry of Mines.

The exploration companies are primarily operating in Afar, Gambella, Middle Abay, Rift Valley, South Omo Somali and Ogaden areas said Bacha Fuji, Director of Public Relations with the Ministry.

The companies are at different stages of the exploration process he said.

The Ministry has earned above 16.23 million birr from land rent, licensing, training and related activities noted Bacha.

Nirvana to Start Agro-Processing in Ethiopia

Bahir Dar Industrial Park

Nirvana Processing, an Indian Company, is set to commence agro-food processing in Ethiopia's Bahir Dar Industrial Park with a 5 million USD investment.

Nisir to Become Ethiopia's First Commercial Micro Finance Institution

Nisir Micro Finance Institution, currently under formation, is set to join Ethiopia's financial sector becoming the first commercial micro-finance institution. After three years preparation, Nisir is planning to go operational with a paid-up capital of 15 million Ethiopian birr in mid December 2013.

The company floated 15,000 shares with a face value of 1000 birr each. The huge gap between the supply and demand of financial services has driven Nisir's establishment, whose focus is providing a need-based and swift credit facility, Michael Addisu, Project Manager and Lead Promoter of Nisir told Fortune.

NISK Capital Eyes Ethiopian Market

nisk-amb-meles-meeting NISK Capital disclosed that it is interested in operating in Ethiopia. Irene Ndikumwenayo, the East Africa Bureau head of the Washington-based financial institute with operations in Kenya and other African countries, said there is "ample opportunity" for his NISK Capital in Ethiopia.

Mr. Ndikumwenayo made the remark after conferring with Meles Alem, Ethiopia's Ambassador Extraordinary and Plenipotentiary to Kenya.

During their meeting, Ambassador Meles has briefed Mr. Dukumunayo on the ongoing economic reforms of Ethiopia, and how his company stands to benefit from these.

Irene Duquinium, for his part, said there is ample opportunity for NISK Capital to venture into Ethiopia.

NISK Capital is a boutique investment banking and advisory firm providing end-to-end services to Small and Medium sized Enterprises (SMEs) across the East African Community (EAC).

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Source (Including Image): Ethiopian Embassy in Kenya - Facebook and NISK's website

NOC Inaugurates Blending Facility in Ethiopia

National Oil Company inaugurated the third ethanol and regular benzene blending plant in Ethiopia. The blending facility was established on 52 thousand square meters of land at a cost 45 million birr.

The NOC blending facility has the potential to blend 1000m3 of ethanol and regular benzene daily. The plant has three tanks able to store 3,200m3 of ethanol, regular benzene and diesel.

The facility is also equipped with an LPG storage and filling plant with the potential to fill 2,000 cylinders a day.

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