MIDROC Management and Leadership Services

Investment

Saudi Arabia releases Ethiopia – Saudi billionaire

Saudi Arabia has released Ethiopia – Saudi billionaire Sheikh Mohammed Hussein Ali AL-Amoudi who has been in jail for corruption charges along other Saudi billionaires.

Finance

Zamzam Bank of Ethiopia sold over $18 million shares

May 25, 2020May 25, 2020 newbusinessethiopia

Zamzam Bank S.C., one of the Islamic banks under formation in Ethiopia has sold shares with a total value of 623,694,000 birr (about $18.34 million at current exchange rate). It will be the first Islamic bank in Ethiopia to start operation.

Finance

Ethiopia limits cash withdrawal from banks

May 19, 2020May 19, 2020 newbusinessethiopia

With the aim of fighting tax avoidance and illegal circulation of money, the National Bank of Ethiopia (NBE) today introduced a directive that limits cash withdrawal from banks.

Oil & Gas

Ethiopia launches study to process natural gas

April 28, 2020April 28, 2020 newbusinessethiopia

The Government of Ethiopia has awarded a yearlong study to a United States company to realize conversion of its natural gas deposit into liquid petroleum gas (LPG) and other petrochemicals.

Oil & Gas

Ethiopia reveals more info on petroleum test production

February 11, 2020February 12, 2020 NBE

The Government of Ethiopia reveals additional information on the recent petroleum test production in the eastern part of the country, near Hilala gas discovery site in Somali Region Ogaden area.

Politics

Ethiopia, Sudan agree to resume talks on Nile dam

May 22, 2020May 22, 2020 newbusinessethiopia

The Prime Minister of Ethiopia Abiy Ahmed and his high-level delegation held virtual talks with Sudanese Prime Minister Abdala Hamdok agreeing to continue discussions on the construction of Nile dam – Great Ethiopian Renaissance Dam (GERD).

Politics

Ethiopia briefs diplomats about its Nile dam

May 21, 2020May 22, 2020 newbusinessethiopia

The Government of Ethiopia through its Ministry of Foreign Affairs today briefed diplomats based in Addis Ababa, mainly Ambassadors from Asia Pacific and the Middle East Countries about the Great Ethiopian Reconnaissance Dam (GERD).

Health

Deaths from COVID-19 in Ethiopia increases

May 26, 2020May 26, 2020 newbusinessethiopia

The total number of death by coronavirus (COVID-19) has increased to six after one new death is reported this afternoon.

Health

Ethiopia reports largest daily coronavirus positive

May 25, 2020May 25, 2020 newbusinessethiopia

The number of people infected by coronavirus (COVID-19) has dramatically increased over the last two days increasing the total number of confirmed cases to 582 without including today;s result expected this afternoon.

Crime

Ethiopian customs seizes 230 pistols from arms smugglers

May 27, 2020May 27, 2020 newbusinessethiopia

Ethiopian Customs Commission seized 300 Turkish made pistols from arms smugglers at Bahir dar customs Seraba check point in Amhara Region of Ethiopia.

Crime

211 cars stolen in Addis Ababa

May 15, 2020May 15, 2020 newbusinessethiopia

Addis Ababa Police Commission recorded 211 car theft in the capital, Addis Ababa, Ethiopia in the nine months period of the current Ethiopian fiscal year started July 8, 2019.

Travel

Travel

Africa pleads wealthy nations to rescue its tourism, airlines

May 8, 2020May 8, 2020 newbusinessethiopia

Five international air transport and tourism bodies have launched an appeal to international financial institutions, country development partners and international donors to support Africa’s travel & tourism sector which employs some 24.6 million people on the African continent.

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Saudi Arabia releases Ethiopia – Saudi billionaire

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