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Government to Issue a Birr 900 Billion Bond to Cover Unpaid Loans from Commercial Bank of Ethiopia
The Ethiopian government is preparing to issue a bond worth Birr 900 billion to address unpaid loans provided by the Commercial Bank of Ethiopia (CBE) to government development organizations. The bond ...
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National Bank of Ethiopia Mandates a Unified QR Code Standard for Digital Payments
The National Bank of Ethiopia (NBE) has announced that starting December 1, 2024, all payment service providers in the country must adopt standardized QR codes for digital payments. This move aims to ...
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Ethiopia: Hibret Insurance Achieves a 60% Profit Increase
Hibret Insurance's total premium income for the year reached Birr 1.96 billion, with non-life insurance products contributing Birr 1.7 billion. The company’s paid-up capital rose to Birr 1 billion, ...
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House of People's Representatives Approves Ethiopia-South Sudan Loan Agreement
In its fourth regular session, Ethiopia's House of Peoples' Representatives (HPR) examined and unanimously approved a loan agreement between Ethiopia and South Sudan, aiming to bolster regional ...
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IMF Raises Ethiopia’s Reserve Target Amid Economic Reforms and Debt Restructuring Efforts
The International Monetary Fund (IMF) has raised Ethiopia's net international reserves target to help the country meet upcoming foreign currency payments. This follows Ethiopia’s USD 3.4 billion, four ...
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Ethiopia: Lemi National Cement Factory Begins Offering Products to Market
Lemi National Cement Factory, located in Ethiopia's Amhara Regional State, Ensaro Woreda, has started offering its cement ...
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Ethiopian Airlines Strengthens Global Reach with Advanced Airbus Fleet and New Dhaka Route
The A350-1000’s enhanced capacity is believed to be well-suited to Ethiopian’s busiest routes, helping meet rising global demand with improved efficiency. Airbus reports that the aircraft’s innovative ...
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Unilever to Reduce Global Workforce, Impacting Ethiopia and Other Markets
British-Dutch consumer goods giant Unilever has announced plans to reduce its global workforce, starting next month, in a bid to increase profitability. Operating in over 190 countries, including ...
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Ethiopia Secures Birr 180 Billion in Revenue
The Ministry of Planning and Development (MoPD) announced that Ethiopia secured Birr 180 billion in revenue and attracted USD ...
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Ethiopia's Industrial Parks Development Corporation Attracts USD 300 Million in Investments
The Industrial Parks Development Corporation (IPDC) reported that it had attracted USD 300 million in investments and generated over USD 26 million in export revenue in the first quarter of the ...
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Ethiopia: Cooperative Bank of Oromia Launches 200 "Smart" Branches
The Cooperative Bank of Oromia has launched over 200 "Smart" branches across various locations. These branches are designed to provide customers with seamless, paperless banking services using tablet ...