DBE Second Thoughts on Else Foreclosure


The Development Bank of Ethiopia (DBE) is reviewing its selling price for the foreclosed textile company, Else Addis Industrial Development Plc. The bank had foreclosed on Else with the negotiation…


Debub’s Profit Up, Raises Dividend

Debub Global Bank continues to earn record profits as its earnings from operations accelerated by an average 75pc. The bank’s results were presented during the company’s fourth annual meeting, held…


Zebidar Enters Hot Local Beer Market

Beer lovers have a new choice as Zebidar Brewery officially enters the Ethiopian beverage scene with 1.3 billion Br investment, becoming the seventh beer factory in the market. The company,…


A Year of Success for Zemen Bank

Zemen Bank S.C. reported a 203 million Br net profit last fiscal year which is 32pc higher than the previous fiscal year. In the latest annual meeting held at the…


Nib Insurance Hit by Industry Downturn

Nib Insurance S.C. has posted a profit decline for the second year in a row as operational income dipped. The 14-year-old company declared a 25pc fall in its profits to…


Proposed Shipping CEO Loses Position

The PM office has shifted Yacob Yalla from his proposed position as the CEO of Ethiopian Shipping Lines & Logistics Service Enterprise (ESLLSE) to the directorship of the Ethiopian Horticulture…


Addis Prefab Home Buyers Take Action

Close to 200 Addis Prefab Home buyers assembled in early morning of December 31, 2016 to discuss ways to demand a speedy administrative decision after what they claim is a…


Gov’t Plans Industrial Park for Pharmaceuticals

Ethiopian officials have disclosed their plan to establish industrial parks dedicated to the pharmaceuticals industry during a closed meeting held at the Hilton Hotel last week with local pharmaceutical producers…


Awash Winery Fully in Private Hands

The protracted privatization process of Awash Winery came to a conclusion after the Ministry of Public Enterprises (MPE) fully transferred shares to – Blue Nile Investment. After several failed auctions,…


Second Time Not Nice for Deputy CEO

Tedros Bogale, the long serving deputy CEO of the National Insurance Company Of Ethiopia S.C (NICE), is being forced out of his position effective January 7, 2017. His resignation was…


Ethiopia Straining to Help Drought Victims

The Ethiopian Humanitarian Fund (EHF) has allocated 17 million dollars to renewed drought efforts, with major funding expected to come in next year. The Allocation Plan for the fund is…


Another Textile Factory Folds

After repeated attempts to transfer the ownership of troubled multimillion Br textile company Saygin Dima, the Commercial Bank of Ethiopia (CBE) has taken control of the company. The bank is…


Dam If You Do, Dam If You Don’t

Gibe III dam takes hydroelectric power to a stratosphere level. A decade under construction and few months in to producing energy, it was officially inaugurated in the presence of Prime…


Soft Drinks Lose Fizz as Gov’t Shuts Down Factories

In an unprecedented move, a government agency has ordered the shutting down of two soft drink bottling plants and ordered the recall of the products. The Ministry of Trade has…


Factory Owners Skip Town, Investors Cry Foul

The foreign owners of Else Addis Industrial Development Plc have abandoned their factory and left the country to escape unpaid loans, taxes and customer payments amounting to one billion Birr,…


Plunging Profits at Cooperative Bank Raise Alarm

The Cooperative Bank of Oromia (CBO) has reported an eightfold decline in its profit, from 312 million Br to below 40 million Br. This kind of a slide is rare…


Editorial

Ethiopia is in the midst of a state of emergency. At a press conference...


Agenda

Holidays are mostly considered by the Banks to be a peak season when it...


Fineline

Addis Abeba is in a bizarre mood lately. And for a...


Commentary

Over the past decade or so, Ethiopia has been in the limelight of globa...


Viewpoint

Over two-thirds of Africa’s people lack access to electricity. Approx...


Opinion

Karl Marx was not such a naive man, as some would be forgiven to think,...


View From Arada

Our subscribers to the print edition are entitled to get a bonus in a f...


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