Business

Spanish Pharmaceutical Reig Jofre Keen To Invest In Ethiopia

Spanish Pharmaceutical Reig Jofre Keen To Invest In Ethiopia

This was revealed during a meeting held between representatives of the company and CEO of Ethiopian Industrial Parks Development Corporation (IPDC), Sandokan Debebe, on Friday. The two sides discussed ways to set up the Reig Jofre manufacturing plant inside Kilinto Industrial Park. During the discussion, the Sandokan briefed the company officials about options and incentives that the government offers to companies keen to invest in industrial parks. Glocare Pharma’s $5mln Pharmaceuticals Factory Inaugurated The Ethiopian government is availing industrial parks that meet international standards for interested investors, he said pledging the Corporation’s support to the company’s proposed investment venture. Company…
Read More
Int’l Investment Banks, Companies Desirous to Participate in Ethiopian Securities Exchange

Int’l Investment Banks, Companies Desirous to Participate in Ethiopian Securities Exchange

National Bank of Ethiopia disclosed that investment banks from across the globe and companies are expressing interest to take part in the Ethiopian Securities Exchange (ESX). Macroeconomic Advisor at the Ethiopian National Bank, Melese Minale told ENA that approval of the capital market is a big step in order to regulate and supervise the capital market as well as to detect, mitigate, and prevent systemic risk. He added that the National Bank has been undertaking various efforts to realize the aspired capital market in the country. Ethiopian Securities Exchange is similar to stock exchanges found in other countries, Melese stated,…
Read More
Upcoming proclamation to unlock foreign digital finance

Upcoming proclamation to unlock foreign digital finance

Foreign mobile money operators or digital financial service givers will be allowed to operate in Ethiopia even before the revising of banking proclamation is done as digital payment proclamation is under preparation for the first time.The Digital Payment Proclamation bill will allow foreign investors to offer mobile money services, boosting firms such as Safaricom- Ethiopia that are seeking to start operations in the country this year.“Revising the banking proclamation and allowing mobile money operators is different,” said Yinager Dessie, governor of the National Bank.A he explained the mobile money operators will be liaising with the local banks, as opposed to…
Read More
5 firms sign to use Tele’s modular data center

5 firms sign to use Tele’s modular data center

Ethio telecom signs agreement with five institutions to lease its newly launched modular data center. Previously, Amhara bank inked agreements with the telecommunications firm to use the center.On Friday May 20, 2022 the company signed the agreement with Zemen Bank, Rays Micro Finance, ZamZam Bank, Hijira Bank and Websprix to enable these institutions gain access to the data center.The modular data center is said to be of high capacity with world class standards having more than five direction fiber connectivity with an automatic switch over functionality to ensure service reliability. Moreover, it is equipped with extensive security and compliance system…
Read More
Gov’t permits foreign-owned manufacturers to supply to local market

Gov’t permits foreign-owned manufacturers to supply to local market

NEWSBut they are required to pay taxes to import inputs and forgo incentives Foreign-owned manufacturers operating in Ethiopia can supply their products to the local market if they are willing to forgo the incentives they enjoyed as a licensed exporter, the Ministry of Industry said. The departure from the law, which dictates foreign-owned producers to only supply their products to the international market, is intended to help the country substitute its growing imports, which are valued at USD 14 billion dollars in the last fiscal year. “If producers want to sell their products to local suppliers, they are also required…
Read More
Ethio telecom, Ethiopian Airlines reach deal over safety of 5G

Ethio telecom, Ethiopian Airlines reach deal over safety of 5G

Ethio telecom says an agreement with Ethiopian Airlines over the installation of 5G technology around Bole International Airport has been reached. The agreement was made after Ethiopian cautioned the telecom company that the deployment of a 5G network close to the airport might interfere with the landing of aircrafts. It is a concern shared by safety experts, who warn that 5G networks might interfere with aircraft radio altimeter, which could prevent engine and braking systems from transitioning into a landing mode. An official with ethio telecom told The Reporter that a series of check-ups have been done by experts to see if…
Read More
Ethiopia, World Bank Sign $300 Million Financing Deal

Ethiopia, World Bank Sign $300 Million Financing Deal

Ethiopia and the World Bank signed a grant agreement amounting to $300 million that supports of the reconstruction and recovery of conflict-hit communities in the East African nation. The agreement was signed between Finance Minister Ahmed Shide and the Bank’s country director Ousmane Dione in Addis Ababa on Monday. The singing took place a month after the World Bank approved the $300 million grant to support the recovery of conflict-Affected communities in Ethiopia. The grant will particularly finance a Response-Recovery-Resilience for Conflict-Affected Communities in Ethiopia Project. The project, which targets more than five million people, will prioritizes support to selected woredas of…
Read More
Tiger Woods’ son is good at golf, but video poses wider questions

Tiger Woods’ son is good at golf, but video poses wider questions

Simply sit, stand or lie in a comfortable position and close your eyes. Take in a deep breath, inhaling slowly and all the way into your belly. Hold your breath for a moment, then exhale slowly. Repeat for however long you like. Short or long, meditation has the power to change your mood, your day, and even your life. If you’ve never tried a short meditation, why not do it today? You might be amazed at what happens. Several people on Twitter and other theatre kid-dominated social media platforms have responded to these offensive, misguided reviews of The Lightning Thief by demanding…
Read More
There’s a new obstacle to landing a job after college

There’s a new obstacle to landing a job after college

Here are lives at the intersection of fun and scary. One of my companions summed the whole experience up perfectly. He leaned back in his chair at dinner that night, shrimp taco in hand, “These are the kinds of experiences that give something back to you. They show you who you are in a whole new way.” These eight shots crystallize the hard work moms put into keeping their kids alive, happy, and healthy. They might give you the inspiration you need for filling out that card—or stand-alone for your mom’s interpretation.Bob Dyalon At the bottom of the mountain, my legs shaky,…
Read More
Presenting the top 5 most expensive cars in the world

Presenting the top 5 most expensive cars in the world

Here are lives at the intersection of fun and scary. One of my companions summed the whole experience up perfectly. He leaned back in his chair at dinner that night, shrimp taco in hand, “These are the kinds of experiences that give something back to you. They show you who you are in a whole new way.” These eight shots crystallize the hard work moms put into keeping their kids alive, happy, and healthy. They might give you the inspiration you need for filling out that card—or stand-alone for your mom’s interpretation.Bob Dyalon At the bottom of the mountain, my legs shaky,…
Read More