2merkato

Ethiopia’s state owned Construction and Business Bank S.C. disclosed it intends to raise the deposit amount to 28 billion Birr which will be a 30 percent increment by the end of the second Growth and Transformation Plan (GTP II). In addition to this, it plans to raise loan mobilization to 8.5 billion Birr and bring down non performing loans to 1.3 percent. With regard to number of branches, the bank’s intention is to increase the number to 175 across the entire country.

The Addis Ababa City Administration Construction and Housing Development Bureau (ACHDB) has temporarily suspended issuing license for new contractors and consultants, according to Capital.

The road which was built to connect Dolobay and Dolado in Somali Region with Birr 405 million had started its operation, according to Ethiopian Road Authority (ERA).

Dichoto – Galafi – Elidar – Bolho road’s construction, which is being undertaken by Defense Construction Enterprise, has been started.

The state-owned Ethiopian Railways Corporation (ERC) disclosed the construction of the new railway academy will commence by the coming September. The academy is planned to be constructed in Bishoftu city, Oromia State, on a 151 hectares of land.