Awash Bank, Ethiopia's oldest and largest private bank, announced it has obtained a gross profit of over 5.58 billion birr during the 2020/21 fiscal year. The amount has shown an increase of 34 percent or 1.2 billion birr from last year, and is registered as the highest ever for private banks in Ethiopia.
Ethiopia's Awash Bank signed an agreement with Discover Global Network, a US-based e-commerce services partner with cardholders in over 200 countries and territories, to help extend merchant acceptance across Ethiopia. The agreement will enhance access of the Ethiopian business community to global payment card systems, it was learned.
Ethiopia's Awash Wine S.C announced that it has made over 90 million Ethiopian birr profit before tax in the concluded fiscal year. Rezene Hailu CEO of Awash Wine S.C made the announcement during the company's annual employees day.
Rezene said on the occasion that the company has earned 90.84 million birr profit before tax from the 6.4 million liters of wine produced in the budget year. The company’s profit before tax was only 1.5 million birr 15 years ago, he noted.
Bahir Dar Industrial Park, located in Ethiopia's Amhara region, has started exporting textiles. One of the 13 industrial parks in Ethiopia, Bahir Dar Industrial Park is fully dedicated to textile production.
The Beles-Jawi electric power transmission line project in Ethiopia's Amhara region was inaugurated yesterday. The project is built at a cost of built with a cost of 387 million birr and sports nine power transmission lines. Inaugurating the project were Seleshi Bekele, Ethiopia's Minister of Water, Irrigation and Energy, and Agegnehu Teshager, Chief Administrator of the Amhara region.
