By Luc van Kemenade for newBusinessEthiopia.com With public purchasing power on the rise, Ethiopia’s small but emerging middle class yearns to cruise around Addis Ababa in style.
By Tesfu Telahoun To describe Ethiopia as a large country is to understate the sheer size of this truly vast nation of nations. Whether from the vantage of a bird’s … Read More
The Ethiopian Revenue and Customs Authority set to increase government revenue for the fiscal year 2009/10 (July 8, 2010 – July 7, 2011) by 52 percent from last year.
Since the dawn of civilization and up to the late 1960s, Ethiopia has played prominent even leading roles in the world history and loomed even larger on the African stage. … Read More
Oromia Insurance Company (OIC) is set to sign tomorrow a 21 million birr worth (around 1.6 million USD at today’s exchange rate) crop insurance plan with farmers tomorrow (July 24, … Read More
Ethiopia needs a national biotechnology policy in order to develop its capacity and apply the technology in agriculture, environment, health and energy sectors, say scientists.
The total profit of commercial banks in Ethiopia, grew by 24 percent this year as compared to the similar period last year. This is excluding the new private banks, which have … Read More
The United Nations Economic Commission for Africa (UNECA) officially launches this morning, June 21, 2010, the construction of new office facilities in the presence of Ethiopian Prime Minister Meles Zenawi.
The Ethiopian Ministry of Mines and Energy (EMoME) failed to meet national target of increasing reserve oil of the country to 588,000 cubic from it was at 130,000 cubic meters … Read More
Following approval received at shareholder meeting last week, Nyota Minerals Ltd. (NYO.AU) announced yesterday, June 14, 2010 that it acquires 80 percent interest in land package totaling over 4,500 km2 … Read More
Ethiopian Minister of Finance and Economic Development (MoFED) presented to the Parliament a 20 percent national budget increment (1.5 billion USD) for the coming fiscal year (July 8, 2010 to … Read More
Proras, Italian Engineering and Contracting company, which has been working in Ethiopia for the past nine years, invited Ethiopian Small and Micro Enterprises (SMEs) to follow Italian industrial development model … Read More
With the aim of expanding telephone and internet services, Ethiopian government is working to extend the current 7,000 kms of fiber-optics line to 10,000 kms in the coming three months.
Ethiopian government says country’s GDP per capita has now reached 217 USD from 164 USD five years ago.
Trade privileges from Europe’s Everything But Arms (EBA) and America’s African Growth Opportunity Act (AGOA) are not stopping Ethiopia from shifting its historic economic partnership with the West to the … Read More
Continuing its investment in power projects, Ethiopia inaugurated today (May 14, 2010) the Beles hydroelectric power generation plant, which cost a total of 7.1 billion birr (around 500 million USD).
Ardent Energy Group Inc, a Nevada Corporation with a branch in Ethiopia engaged in a biodiesel fuel development announced that it is going to outsource its farming project in Ethiopia … Read More
Researchers at the Ethiopian Economic Association (EEA) advised Ethiopian policy makers to revise the existing national energy policy to overcome the current energy crises.
The United States government has advised Ethiopia to liberalize its telecommunications, banking and insurance sectors to attract broad foreign investment.
Saudi Star Agricultural Development Plc, which is currently engaged in commercial rice farming in Ethiopia, is to construct rice processing factory with an investment capital of 125 million birr (around … Read More
The number of airports in Ethiopia increased to 15 after the capital city of Benishangul-Gumuz Reginal State, Assosa, gets a new airport this week.
Ethiopia’s export to its neighbors (Somalia, Sudan and Djibouti) has increased over the past two years, while import declines.
Ethiopia’s foreign currency spending on fertilizer import has almost tripled in December 2009 as compared to the previous month.
Oromia Insurance Company, which joined Ethiopian insurance business a year ago, announced that its total asset has grown by 43 percent.