Tekeze Hydropower Dam – New Business Ethiopia

Energy

Ethiopia’s Tekeze Dam recommences generating 150 megawatts

Two turbines of Tekeze Hydropower Dam of Ethiopia have started generating 150 megawatts of electricity this week after several months of disfunction.

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.

Finance

Ethiopia tax revenue increases by $1 billion

May 12, 2020May 12, 2020 newbusinessethiopia

Ethiopia’s tax revenue has increased by over one billion dollar this year compared to the previous year. The Ministry of Revenue of Ethiopia has collected close to 198.5 billion birr (about $5.9 billion at the current exchange rate) during the first ten months of the current budget year started July 8, 2019.

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.

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.

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.

Crime

Ethiopia sentences Bereket Simon to six years imprisonment

May 8, 2020May 8, 2020 newbusinessethiopia

The Supreme Court of Amhara Region of Ethiopia today sentenced former TIRET Corporate board members, Bereket Simon and Tadesse Kassa to six and eight years imprisonment, respectively for corruption.

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Ethiopia’s Tekeze Dam recommences generating 150 megawatts

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