Ethiopia: Latest News

  • Indian Company Inks Deat To Modernize Banking System In Ethiopia

    By Ann Brown, 3:00 pm

    From Business Standard Polaris Financial Technology Limited, an Indian financial solutions provider, is set to complete installing a $3.4 million Centralized, Online, Real-time, Electronic (CORE) banking solution at the National Bank of Ethiopia (NBE) by month-end, an official said. Though this has been delayed by two months because of the long process of deploying technical […]

  • Ethiopian Airlines Gets Major Loan From PTA Bank

    By Ann Brown, 11:00 am

    From NBE Ethiopian Airlines secures a total of $40 million loan from the Eastern and Southern African Trade and Development Bank (PTA) to finance housing project of its employees. The two sides signed a $ 22 million loan agreement  on  September 9,2013  here in Addis Ababa at Capital. According to the agreement, the loan will go to financing […]

  • Survey: 40,000 New Hotel Rooms Planned In Africa

    By Dana Sanchez, 11:52 am

    Forty-thousand new hotel rooms are planned in Africa as multinational and local hoteliers rush to meet the hospitality needs of business travelers. “We have a very bullish feel for these markets and we are very excited about the opportunity Africa presents,” said Patrick Fitzgibbon, senior vice-president of development for Hilton Worldwide. “I think that for the next 20 years we are going to have our hands full with opportunity.”

  • China to Takeover African Media?

    By Makula Dunbar, 3:12 pm

    When one of South Africa’s biggest newspaper chains was sold last month, an odd name was buried in the list of new owners: China International Television Corp. A major stake in a South African newspaper group might seem an unusual acquisition for Chinese state television, but it was no mystery to anyone who has watched the rapid expansion of China’s media empire across Africa.

  • Editorial: Africa’s Franc Zone Lacks Major Chinese Investment

    By Dana Sanchez, 11:24 am

    Neither France’s near-total control of money and credit, nor its strong influence over politics and security, is wholly responsible for keeping franc-zone countries mired in poverty and instability, said Senegalese investment banker and author Sanou Mbaye. By misappropriating public funds for personal use, franc-zone leaders serve as accomplices to France’s institutionalized exploitation of African Financial Community countries and citizens.

  • $63 Million Housing Fund to Create Affordable Options for Sub-Saharan, South Africa

    By Makula Dunbar, 5:33 pm

    The International Finance Corporation (IFC), the largest global development institution, said on Tuesday it had invested more than $63m in a housing solutions fund for the support and development of affordable housing in South Africa and sub-Saharan Africa. The International Housing Solutions (IHS) Fund II aims to address the need for housing across the continent and the lack of affordable housing.

  • U.S., Europe, Hustle To Sign Trade Deals With Emerging African Economies

    By Frank Mutulu, 11:00 am

    Africa’s growing middle class and purchasing power have attracted the U.S. and Europe to offer lucrative trade deals in a reciprocal arrangement. The most popular products entering the U.S. market from Africa include canned fruits and juices, leather, apparel and textiles. Volume of exports from the U.S. to Africa increased from $ 6.1 billion in 2001 to $ 22.6 billion in 2012.

  • IT Solutions Provider CSM Signs Mega Deal With Ethiopian Government

    By Ann Brown, 1:00 pm

    From Business Standard City based IT solutions provider CSM Technologies has signed an ETB (Ethiopian Birr) 3.6 million (or $0.19 million) agreement with the Federal Ethics and Anti-corruption Commission (FEACC) under the Ministry of Justice (MoJ), Ethiopia, to develop a wealth registration software. The project, Asset Disclosure Management Information System (ADMIS) funded by the World […]

  • IBM Plans To Boost Ethiopia’s Trade And Streamline Governance

    By Ann Brown, 10:00 am

    From BizTech Africa IBM experts have recommended strategies for strengthening Ethiopia’s livestock industry — the primary source of income for the majority of citizens — and making government more efficient. Making the recommendations was a twelve – person IBM team hailing from 8 countries that spent 30 days in Ethiopia working with three government ministries […]

  • 47 Africa Countries To Co-Ordinate 2015 Switchover To Digital

    By Dana Sanchez, 4:20 pm

    Forty-seven sub-Saharan African countries have agreed on frequency coordination for digital switchover in 2015. Africa will be the first region globally to be in a position – by 2015 – to allocate so-called digital dividend spectrum to mobile services in both the 700MHz and 800MHz bands.

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