Korea Extends U.S.$1 Million to Drought Victims

[Addis Fortune] The government of Korea has pledged one million dollars for humanitarian assistance in Ethiopia for people who are suffering from the effects of severe drought resulting from the negative Indian Ocean dipole. Currently, the number of pe…

[Addis Fortune] The government of Korea has pledged one million dollars for humanitarian assistance in Ethiopia for people who are suffering from the effects of severe drought resulting from the negative Indian Ocean dipole. Currently, the number of people who need the assistance has reached 8.5 million from 7.8 million in April 2017.

source: AllAfrica News: Ethiopia

IDA Targets to Commit U.S.$4.6 Billion to Ethiopia

[Addis Fortune] The International Development Association (IDA), a wing of the World Bank, has allocated a 4.6 billion dollar loan to Ethiopia for 2018. The Association’s priority areas will be water supply, sanitation, education, trade, logistics and …

[Addis Fortune] The International Development Association (IDA), a wing of the World Bank, has allocated a 4.6 billion dollar loan to Ethiopia for 2018. The Association's priority areas will be water supply, sanitation, education, trade, logistics and development of woman entrepreneurship.

source: AllAfrica News: Ethiopia

Coffee Dominates Commodity Trade

[Addis Fortune] The Ethiopian Commodity Exchange (ECX) has traded commodities worth 1.1 billion Br in the month of July. Among the commodities, coffee took the significant share, contributing 13,927tn or 70.96pc of the trading value.

[Addis Fortune] The Ethiopian Commodity Exchange (ECX) has traded commodities worth 1.1 billion Br in the month of July. Among the commodities, coffee took the significant share, contributing 13,927tn or 70.96pc of the trading value.

source: AllAfrica News: Ethiopia

Industry Premium Prod’n Hits Three-Year High Amid Price War

[Addis Fortune] Premium production across the insurance industry has risen at its strongest rate in three years to 7.4 billion Br during the just-ended fiscal year amid price war among insurers.

[Addis Fortune] Premium production across the insurance industry has risen at its strongest rate in three years to 7.4 billion Br during the just-ended fiscal year amid price war among insurers.

source: AllAfrica News: Ethiopia

Development Bank’s Profits Tumble, NPLS Expand

[Addis Fortune] The Development Bank of Ethiopia (DBE) has reported a 21.6pc decline in net profit to 323.8 million Br for the second year in a row as the Non-Performing Loans (NPLs) ratio of the Bank increased from 16pc to 25pc as of June, 2016/17. Th…

[Addis Fortune] The Development Bank of Ethiopia (DBE) has reported a 21.6pc decline in net profit to 323.8 million Br for the second year in a row as the Non-Performing Loans (NPLs) ratio of the Bank increased from 16pc to 25pc as of June, 2016/17. The state policy financier registered a profit that is three times lower than the target set to be achieved in the current fiscal year.

source: AllAfrica News: Ethiopia

Bidders Keep Showing Little Appetite for Auctioned Properties

[Addis Fortune] It is unfortunate for Shimelis Mulat to witness the three former owners of Dire Dawa Textile Company failing to keep the company afloat in the past decade since its privatisation. None of them has succeeded to either take the company to…

[Addis Fortune] It is unfortunate for Shimelis Mulat to witness the three former owners of Dire Dawa Textile Company failing to keep the company afloat in the past decade since its privatisation. None of them has succeeded to either take the company to the next level or achieve break-even.

source: AllAfrica News: Ethiopia

Fine Hygienic Agent Cries Foul Over Alleged Forgery

[Addis Fortune] Three businesspeople who are suspected of selling and retailing a forged product of a well-known tissue paper, Fine, were released with bail rights on August 12, 2017.

[Addis Fortune] Three businesspeople who are suspected of selling and retailing a forged product of a well-known tissue paper, Fine, were released with bail rights on August 12, 2017.

source: AllAfrica News: Ethiopia

Commercial Farmers Cherish Return of Farms

[Addis Fortune] Following the order from the Office of the Prime Minister, Gambella Regional State has started returning the farmlands of 186 commercial farmers who were evicted from their leased properties after being accused of underutilization of th…

[Addis Fortune] Following the order from the Office of the Prime Minister, Gambella Regional State has started returning the farmlands of 186 commercial farmers who were evicted from their leased properties after being accused of underutilization of the farms.

source: AllAfrica News: Ethiopia

Corruption Arrests Take Dozens By Storm

[Addis Fortune] The number of individuals arrested in relation to the recent high-level corruption case has reached 55 after the recent arrest of Samson Wondimu, communications director of the Ethiopian Roads Authority (ERA), on August 11, 2017.

[Addis Fortune] The number of individuals arrested in relation to the recent high-level corruption case has reached 55 after the recent arrest of Samson Wondimu, communications director of the Ethiopian Roads Authority (ERA), on August 11, 2017.

source: AllAfrica News: Ethiopia

City Collects 2.4 Billion Br Tax in a Month

[Addis Fortune] The Ethiopian Revenues & Customs Authority (ERCA) Addis Ababa Branch Office has collected 2.4 billion Br in tax during the first month of the new fiscal year, meeting 85.7pc of the target.

[Addis Fortune] The Ethiopian Revenues & Customs Authority (ERCA) Addis Ababa Branch Office has collected 2.4 billion Br in tax during the first month of the new fiscal year, meeting 85.7pc of the target.

source: AllAfrica News: Ethiopia