Ethiopia's Cooperative Bank of Oromia S.C. has reported earning of 263.75 million Ethiopian birr Gross profit in the 2012/13 fiscal year.
At a meeting held on Saturday August 10, 2013 at Saro-Maria hotel, the executives of the Bank stated that this year’s performance has shown an increase of 88.70 percent compared to the previous year’s performance, which was 139.8 million birr.
Ethiopia’s mega dam on the Nile River, the Grand Ethiopian Renaissance Dam (GERD) will be completed in four years, by 2022, a senior official said.
The GERD, which was originally scheduled to be completed and go operational in 2017, was launched in April 2011. This comes at least four years behind schedule, which is mainly due to defects with the hydro electrical plant’s equipment.
In the past five years, Ethiopians and foreign nationals of Ethiopian descent have sent an average of USD 4.5 billion back to Ethiopia annually. This significant financial contribution highlights the growing engagement of the diaspora.
Dire Dawa Industrial Park, located in eastern Ethiopia, announced it has generated over $7.8 million in revenues from export items in its first year of operations.
Abraham Belay (Ph.D.), Ethiopia's Minister of Innovation and Technology, said that Ethiopia's e-commerce potential market size exceeds 300 billion birr (over $6.64 billion), computed based on performance during the Ethiopian fiscal year ended on July 7, 2021.
