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Nib Insurance Company, which was established in 2002, hired China Communications Construction Company (CCCC) to construct its head office. The agreement will cost Nib Birr 812 million.

The insurance company pays Birr 15 million annual rent for its current headquarter which is located in Dembel City Center. Zufan Abebe, CEO of Nib, said, “Our current offices are not convenient for our daily tasks, and the rent price is increasing from time to time.” The company’s headquarter, which will have 23 storeys, including four basements and a mezzanine, will be built beside Mega Building, on Africa Avenue.

Addis Ababa Education Bureau and China Jiangsu International signed a contract to build two schools in the Ethiopian capital, Addis Ababa. The China-Africa Friendship Schools Project will cost 60 million Chinese yuan (US$9.6 million).

Signing the contract, Xie Wei, deputy general manager of China Jiangsu International, said his company will complete the project within 20 months. The China-Africa Friendship School Project "is another landmark for the relations between China and Ethiopia. We will carry out the project strictly as per the agreement to make our contribution to deepen the friendship," Xie said.

Delegation team led by China Poly Group Chairman, Yu Baodong, met with President Mulatu Teshome to discuss on the progress of the oil and gas project in Ethiopia.,

China said it is going to finance one trillion USD for 65 countries over the next decade, Ethiopian News Agency reported.

Chinese manufacturing giant Huajian Group has signed a USD 100 million investment agreement to launch operations in Ethiopia’s Gada Special Economic Zone, focusing on solar energy production and exports.