Business Info ETH

2021-10-11 09:43:25 Tadu Teshome Nare Sweep Six Victories at Spar Race with a Promising Future

Ethiopian middle-distance runner Tadu Nare has been crowned this year’s Spar Grand Prix champion with her win in 32 minutes and 33 seconds at Nelson Mandela Bay University in Gqeberha, Eastern Cape; the 20-year-old completed a clean sweep of six victories.

https://cutt.ly/VE8sc0R

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2021-10-11 09:18:00 To give you some context…
Response Plus Holding (RPM) Set Eyes on Ethiopian Market

Last month, the UAE-based Response Plus Holdings PJSC has signed a trilateral MoU with the Ministry of Health and Job Creation Commission (JCC) of Ethiopia to boost employment opportunities for Ethiopian medical professionals in the UAE.

• In addition, the RPM management disclosed investment plans in Ethiopia to carry out medical emergency services operation and management of medical transfer services. The investment financial and business plan is currently under review by the RPM board.
• Further, the company is also looking at options to work closely with the existing private healthcare providers in Ethiopia.

RPM, which provides medical support for the oil and gas sector, was listed last month with share capital of $54.4 million.

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2021-10-10 07:57:02 The Opening of the Telecommunications Sector to the Private Sector in #Ethiopia: A Positive Trend

According to the World Bank, Sub-Saharan Africa (SSA) exits recession in 2021 but recovery still vulnerable. It is set to emerge from the 2020 recession sparked by the COVID-19 pandemic with growth expected to expand by 3.3 percent in 2021.

A positive trend, according to the report authors, is following the act of several countries on necessary structural reforms, such as the opening of the telecommunications sector to the private sector in Ethiopia, the unification of exchange rates in Sudan, and fuel subsidy reform in Nigeria.

(World Bank)

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2021-10-07 08:48:16 #Ethiopian Airlines Customers Can Now Access AccesRails’ Wide Rail Destinations on a Single Ticket

Ethiopian Airlines has signed a codeshare and interline agreement with AccessRail to ease connectivity options for its passengers destined to Western Europe, United Kingdom, Scandinavian, Japan and Canada.

This partnership will allow passengers to access AccesRails’ wide rail destinations on single Ethiopian airlines ticket and also offers agents as well as consumers’ new options to book Ethiopian Airlines journeys which include surface sectors by a single process and workflow.

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2021-10-05 09:34:51 #Ethiopia Plans to Increase Government Revenue to Birr 600.9 Billion in the 2014 Fiscal year

On the opening ceremony of the House of Peoples' Representatives and the House of Federation, H.E. FDRE President Sahle Work Zewde has said that Ethiopia has planned to increase the government's revenue to Birr 600.9 billion in the 2014 fiscal year.

83% of the planned revenue will be collected through taxes. H.E. said that the total trade revenue will also reach $5.25 billion.

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2021-10-04 10:54:05 The National Bank of Ethiopia (NBE) Amends Recent Loan Regulation

The NBE is to ease the recently placed loan regulations, against lending on mobile assets and indebted banks for indefinite loans, while also loans approved under the directive have also been banned. It has announced that banks can now approve 5 types of loans, taking into account the recent restrictions on access to credit:

• For buyers who wish to buy auctioned assets listed by the bank, to repay debts
• Transaction between second and third parties on areas that the NBE now allows loans
• Emergency loans to bank employees
• Requests for loans from trusted and approved organizations, and employees who meet the requirements to purchase houses
• For sesame growers in Gonder area, considering the season

(The Reporter Ethiopia)

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2021-10-04 10:52:28 Ramis Bank Founding Conference

On October 02, 2021, Ramis Bank held its founders rally program at Elilly hotel. It is learned that 13 board members were elected at the conference. the interest-free service bank has a paid-up capital of over Birr 700 million.

(Capital Newspaper)

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2021-10-03 16:06:15 If you prefer LinkedIn over Telegram, you can join our 20,000 followers via the below link

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2021-10-03 15:51:45 AmCham Urges Policy Makers Not to Revoke AGOA

The American Chamber of Commerce in Ethiopia (AmCham Ethiopia) has asked the US and Ethiopian governments and policymakers not to rush to revoke Ethiopia form the list of African Growth and Opportunity Act (AGOA) privileged countries.

Data showed that despite Ethiopia not fully benefiting from the AGOA platform, businesses have exported over USD 114 million worth of commodities just in the 2020/2021 fiscal years through the AGOA. AGOA eligible countries have 30 percent more advantage when exporting to the US than non-eligible countries.

The US government announced that it is going to announce its decision before November 1, 2021, whether Ethiopia will be part of the AGOA or not. Companies that are currently investing in Ethiopia have created close to 230,000 job opportunities, largely women.

(https://www.thereporterethiopia.com/article/amcham-urges-policy-makers-not-revoke-agoa-privilege)

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2021-10-03 11:30:11 Ethiopia to Host the World Telecommunication Development Conference (WTDC)

The WTDC held every four years the 8th conference will be hosted by the government of Ethiopia from 6-15 June 2022 in Addis Ababa, marking the first WTDC conference ever hosted in Africa. “Ethiopia is diligently working to make the World Telecommunication Development Conference to be hosted by Ethiopia, successful and truly African” said the chairperson of the national steering committee, State Minister for Ministry of Innovation and Technology, Dr. Ahmedin Mohammed.

The national steering committee has been established to lead and oversee the conference preparation and coordinate the 11 sub-committees comprised of different federal institutions, and the held its meeting on October 01, 2021 to evaluate the overall preparation.

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