The National Bank of Ethiopia (NBE) has announced that it will grant licenses to five foreign banks to operate in Ethiopia. The aim is to bring foreign banks into the country while also supporting the development of local financial institutions.
Ethiopia is in the process of finalizing preparations to offer 24 hour power supply for manufacturing industries in Addis Ababa said
Miheret Debebe, Chief Executive of the Ethiopian Electric Power Corporation.
The country currently has the installed potential to produce almost 3000 MW of electricity of which more than 40% is allocated to the industrial sector and 30% goes to the service sector it was said at a consultative deliberation held between representatives of major industries and experts from the Ministry of Water and Energy and the Ethiopian Electric Power Corporation.
Ministry of Foreign Affairs announced a medical zone is going to be established by Ethiopian North American Health Professionals Association (ENAHPA).
Ismael Toure Business PLC along with other shareholders is going to set up a new factory dubbed Pure Wood Pulp Paper and Packing PLC, which will manufacture pulp, paper and packaging materials. The factory is going be in Dukem Eastern Industry Zone and it is the second of its kind in Ethiopia.
Bekas chemicals PLC and Lushan Wintone Machinery Co. Ltd concluded an agreement on June 17, 2015 to construct vegetable oil plant in Adama City, Oromia Regional State, Ethiopian Herald reported.
