Business

Diageo consents to sell Meta Abo Brewery to BGI

The Ethiopian Competition Commission, subject to approval, is expected to complete the sale during the first quarter of 2022. Diageo acquired Meta Abo Brewery in January 2012 for US$225m and, since then, has invested US$344m into its expansion to transform the brewing industry in Ethiopia and supported local communities through the provision of clean water.

January 25, 2022 • By Addis Insight

Business

How Ethiopia’s removal from AGOA be a blessing in disguise for the AfCFTA  

By Bekan Bekele The Biden administration’s decision to remove Ethiopia from AGOA under the preconceived notion of the human rights violation that has ensued in and around the northern part of the country has caused waves to Ethiopians living in Ethiopia and around the world. After stating the eligibility requirements, outlined in section 104 of

January 20, 2022 • By Addis Insight

Business

Ethiopian diasporas replete with industrial investment opportunities

Ethiopia’s economy has been on a continuous and high growth trajectory since the turn of the millennium, registering an average annual growth of over ten pc. It’s about double the average growth rate recorded for sub-Saharan Africa over much the same period. 13 industrial parks in work sectors, including pharmaceutical, agro processing, and textile and

January 17, 2022 • By Addis Insight

Business

Ermias Amelega to bring Alibaba in six months

Alibaba the breakthrough e-commerce company will enter Ethiopia’s digital economy within the next six months. The e-commerce venture that is about to be launched is the result of a partnership between Chinese e-commerce giant Alibaba and Ethiopian business tycoon Ermias Amerga, who has extensive experience in banking, technology and real estate. .. Has appeared. “It

January 15, 2022 • By Addis Insight

Business

Ethio Telecom to sell mobile phones on credit with National Identity Guarantee

Ethio Telecom announced that it is preparing to sell smart phones on credit by using national ID as a guarantee.   He said the company has been selling mobile phones to insured employees for the past one year and has so far sold more than 10,000 phones.   Ethio Telecom’s Head of Sales, Mohamed Haji,

January 15, 2022 • By Addis Insight

Business

Ethio Telecom to sell mobile phones on credit with National Identity Guarantee

Ethio Telecom announced that it is preparing to sell smart phones on credit by using national ID as a guarantee. He said the company has been selling mobile phones to insured employees for the past one year and has so far sold more than 10,000 phones. Ethio Telecom’s Head of Sales, Mohamed Haji, said that

January 15, 2022 • By Addis Insight

Business

Hibret Bank head office building at a cost of over 2.7 billion birr inaugurated

The construction of the Hibret Bank head office building, which cost more than 2.7 billion birr, was completed in the presence of the President of the Federal Democratic Republic of Ethiopia, Sahlework Zewde. The 37-storey Hibret Bank headquarters is also known as the Union Tower. The inauguration ceremony was attended by FDRE President Woro Sahlework

January 15, 2022 • By Addis Insight

Business

Oromia Cooperative Bank introduces a new digital platform for loans

In collaboration with Payment Financial Technologies, Oromia Cooperative Bank has introduced a new digital platform called “Mechu” to provide loans without collateral. It is believed to be the first convenient loan service for small and medium enterprises that cannot access credit. It is a conventional loan and recovery application that you can use by downloading

January 13, 2022 • By Addis Insight

Business

Ethiopia-Djibouti railway records 37.5% increase in revenue

THE Ethiopia-Djibouti railway, which runs from Addis Ababa to the port in Djibouti City, recorded $US 86.13m in revenue in 2021, a 37.5% increase on 2020. The line was used by 449 passenger trains and 1469 freight trains over the year, transporting 77,357 TEUs. The company also improved the efficiency of operation, with the time to

January 12, 2022 • By Addis Insight

Business

Ethiopian Cargo launches new booking system

Africa’s largest cargo service provider Ethiopian Cargo and Logistics Services has launched a new air cargo booking platform. The new online system enables the airline’s customers to check flight schedules, space availability, loadability of freight, and make real-time bookings. “We are committed to start walking the long walk of taking out paper from the entire

January 12, 2022 • By Addis Insight