2merkato

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

Three manufacturing companies which are engaged in pharmaceutical packaging, oxygen and nitrogen production, and printing signed an agreement with Industrial Parks Development Corporation (IPDC) to start production at Jimma town, Kilinto Industrial Park, and Addis Industrial Village.

Th companies have a capital of Birr 11 billion and are expected to create employment opportunities for 600 citizens.

Source (including image): IPDC

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 21 December 2022.

Ethiopian Coffee and Tea Authority (ECTA) announced that Ethiopia earned USD 615 million between July and November this year by exporting 109,000 tons of coffee. The revenue surpasses last year’s gain from coffee during the same period by USD 100 million.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 20 December 2022.