The Petroleum and Energy Authority has announced that fuel tankers engaged in illegal activities, such as hoarding fuel under the pretense of price revisions or intending to sell it on the black market, will be suspended from operation for three months.
Gada Special Economic Zone Development Corporation (GSEZDC) has signed a memorandum of understanding (MoU) with China Civil Engineering Construction Corporation (CCECC) to construct a logistics and export processing center which will be built on 1,000 hectares of land over the coming five years.
Gadaa Bank, in partnership with Santim Pay Financial Solutions S.C., has launched a new QR Code payment system. The service will enable contactless digital transactions across various sectors, including hotels, cafes, shops, and online platforms.
Gadaa Bank announced that it had started operation with Birr 552 million paid-up capital and Birr 1.1 billion subscribed capital. The bank has more than 28 thousand shareholders.
The bank held its first subscribers’ meeting last year in the presence of the President of Oromia Regional State, Shimels Abdissa, and other officials after it raised a paid-up capital of Birr 600 million. According to Addis Fortune, one of the largest English Newspapers in Ethiopia, enterprises and companies based in Oromia Regional State hold a large stake in the bank.
Source: Fana BC and Addis Fortune
Image source: Fana BC
The Gambella Regional Mineral and Energy Resources Agency has announced the delivery of over 27 quintals (2,747 kilograms) of gold to the National Bank of Ethiopia within the past six months.
