Oxford Economics – New Business Ethiopia

East Africa offers highest rewards for investors

Investment

Ethiopia, Tanzania, Kenya, Uganda best for investors

Ethiopia, Tanzania, Kenya and Uganda offer investors a reward score above the African continent’s average, according to the 2018 Africa Risk-Reward Index from Control Risks and Oxford Economics.

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

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.

Health

U.S. CDC supports public health labs in Ethiopia

May 22, 2020May 22, 2020 newbusinessethiopia

United States Centers for Disease Control and Prevention (CDC) supports public health laboratories in Ethiopia to bolster the COVID-19 response.

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.

Crime

Ethiopia intelligence intercepts $110 million cyber fraud

May 11, 2020May 11, 2020 newbusinessethiopia

The National Intelligence and Security Service (NISS) of Ethiopia said it has captured six criminals involving one Nigerian, who tried to steal $110 million from an American citizen using wire transfer.

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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Ethiopia, Tanzania, Kenya, Uganda best for investors

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