Tuskys of Kenya Plans to Open Stores in Ethiopia
Tuskys, Kenya’s second-biggest supermarket chain plans to expand in to Ethiopia, according to Bloomberg.
TV Show on Finance, Business to be Launched in Ethiopia
New Television show to enhance Ethiopians finance and business literacy is to begin soon, according to Capital.
Two Banks under Formation in Ethiopia Opt for Dissolution
Two Banks under formation in Ethiopia, Noah International Bank and Tsehay International Bank, submitted letters to the National Bank requesting the dissolution and release of equity raised by shareholders and placed in blocked accounts with the central bank.
Promoters of both banks cited the recent directive from the central bank that raised the required capital for banks from 75 million to 500 million as the reason behind the decision for dissolution.
Noah Bank had raised 80 million birr and Tsehay Bank 100 million, which was previously adequate but far from the current requirements of 500 million. Promoters of the two banks claimed that the banks did not have the ability to raise the required levels of capital.
Two Companies in Ethiopia Join Hands to Organize International Exhibition
I.G. Entertainment Plc. in association with Wubshet Import & Export has organized an international exhibition for the first time in four European countries, Addis Fortune reported.
Two More Cement Factories for Ethiopia by October
Chemicals and Construction Materials Development Institute announced two more cement factories will commence production in four months time. The factories are Ethio Cement and Dangote.
