Debub Global Bank S.C., one of the last entrants to Ethiopia’s banking industry, postponed its share auction for at least a week period. The shares to be auctioned are ones that are returned by foreign nationals.
The Ministry of Trade and Regional Integration (MoTRI) announced that the Government would no longer involve in the Ethiopian cement market. According to the Ministry, cement will be sold in a free market starting from today.
Ethiopian National Defense Construction Enterprise and Construction Materials Manufacturing Enterprise has joined hands with Legendary MegaCrop, an infrastructure development firm from the United States (US), to establish a company that will produce modern construction materials. The company will be established in Ethiopia and the US based firm will have an initial investment of 10 million USD.
East Africa’s first denim factory, Kanoria African Textiles Spinning, commenced trial production in Ethiopia.
Ethiopia’s Prime Minister has appointed a new board chairman for Metals and Engineering Corporation (MeTEC), Demeke Mekonnen. Deputy Prime Minister. Demeke replaced Siraj Fergessa, Minister of Defense.
