Efforts will be exerted to enable Mugher Cement Factory to produce cement with full capacity, increasing its production volume and market share, Ethiopia's Minister of Mines and Petroleum Takele Uma remarked.
Nasa Garment PLC has become the first Ethiopian company to export its products to Canada. Founded in 2019 and located in the Hawassa Industrial Park, Nasa Garment has made exports of 21,000 units of apparel, including shirts, trousers, activewear, and sweaters to Canada on April 8. Abebe Abebayehu, Commissioner of the Ethiopian Investment Commission (EIC) has congratulated the company in a tweet.
Ethiopia's National Bank has announced that it is implementing a new monetary policy that will double the statutory reserve requirement, from 5 to 10 percent, effective September 11, 2021, the first day of the Ethiopian new year.
The National Bank of Ethiopia (NBE) issued a directive limiting the amount of cash individuals are allowed to keep at home or elsewhere, putting the cap at 1.5 million birr.
The National Bank of Ethiopia (NBE) has ordered all commercial banks in Ethiopia to temporarily suspend lending via a directive issued. The temporary suspension has been made to prevent what NBE officials described as "economic sabotage".
