Ethiopian Business Daily

EthiopiaBudget With a whopping 325.6 billion Br in domestic borrowing, the federal government's 2024/25 budget is raising eyebrows. High investments in urban projects like the "corridor development" might look fancy, but the agrarian economy is left wanting. Health funding has dropped drastically since 2022/23. Read More Source: addisfortune @Ethiopianbusinessdaily

የነዳጅ  መሸጫ  ዋጋ ላይ መጠነኛ ማስተካከያ ተደረገ ከትናንት ከሐምሌ 3 ቀን 2016 ዓ.ም ከምሽቱ 1፡00 ሰዓት ጀምሮ ከአውሮፕላን ነዳጅ በስተቀር በቤንዚን፣ በኬሮሲን፣ በነጭ ናፍጣ፣ በቀላል ጥቁር ናፍጣ እና በከባድ ጥቁር ናፍጣ የችርቻሮ መሸጫ ዋጋ ላይ ማስተካከያ ተደርጓል። በዓለም ገበያ ላይ እየታየ ያለውን የነዳጅ ዋጋ ጭማሪ መሠረት በማድረግ መጠነኛ የመሸጫ ዋጋ ማስተካከያ ማድረግ አስፈላጊ ሆኖ ተገኝቷል ተብሏል ፡፡ በዚህም መሠረት ከሐምሌ 3 ቀን 2016 ዓ.ም ከምሽቱ 1፡00 ሰዓት ጀምሮ በአዲስ አበባ ከተማ ሥራ ላይ የሚውለው የነዳጅ ውጤቶች የችርቻሮ መሸጫ ዋጋ ፡- ቤንዚን …………………………… ብር 82.60 በሊትር ነጭ ናፍጣ……………………… ብር 83.74 በሊትር ኬሮሲን ……………………………. ብር 83.74 በሊትር የአውሮፕላን ነዳጅ ………………… ብር 70.83 በሊትር ቀላል ጥቁር ናፍጣ………………… ብር 65.48 በሊትር ከባድ ጥቁር ናፍጣ…………………. ብር 64.22 በሊትር መሆኑን የንግድና ቀጣናዊ ትስስር ሚኒስቴር  አስታውቋል፡፡ Source: fidelpostnews @Ethiopianbusinessdaily

Ahadu Bank posts impressive profit amidst challenging conditions Ahadu Bank, one of Ethiopia’s fastest-growing financial institutions, has announced exceptional financial results for the fiscal year ending June 30, 2024. Despite a challenging domestic and global business environment, the bank recorded a remarkable profit of over 175 million Birr before tax and other deductibles. Our performance is astonishing given the challenging business environment,” said Sealem Liben, CEO of Ahadu Bank. “In a particularly difficult fiscal year, we remained committed to delivering exceptional financial products with excellent customer service, which paid off remarkably. Read More Source: capitalethiopia @Ethiopianbusinessdaily

Amref launches IHSS project to benefit over five million people across five regions Amref Health Africa has announced the launch of a $28 million Integrated Health System Strengthening (IHSS) project in partnership with the Ministry of Health (MoH) and the Bill & Melinda Gates Foundation. The project aims to benefit more than five million people across five regions in Ethiopia. The IHSS project will integrate interventions at the provincial levels to address critical bottlenecks in primary health care facilities. Dr. Addis Tamire, Senior Director for Health System Investments at Amref Health Africa in Ethiopia, described the project as “a trailblazer for evidence-based health system transformation,” emphasizing its potential to revolutionize health service delivery at the grassroots level. Read More Source: capitalethiopia @Ethiopianbusinessdaily

EthioTelecom's unaudited net profit for the 2023–2024 budget year was 21.8 billion birr, based on 93.7 billion birr in total revenue. In comparison to the same period in the previous year, the net profit increased by 21% this year, reaching 109 percent of the target. The company's CEO, Ferehiwot Tameru, reports that the profit margin is at 23.3 percent. Through the company's mobile finance scheme, 1.8 trillion birr worth of transactions have been made in relation to the telebirr service in a single year. Source: capitalethiopia @Ethiopianbusinessdaily

42 percent of telecom users own a smartphone. 42 percent of the 81.8 million linked devices, according to the mammoth telecom company Ethio Telecom, are smartphones, which are essential to the realisation of the digital economy. To now, the company has 78.3 million customers, meeting 100% of the goal. This places the enterprise as the 17th largest in the world and the second largest in Africa. A year ago, it was 72 million. There are now 40 million and 75.6 million mobile broadband and voice customers, respectively. Source: capitalethiopia @Ethiopianbusinessdaily

Ethio Telecom partners with EagleLion to Launch Ethiopia’s first online cinema Ethio Telecom has signed an agreement with EagleLion System Technology, a company renowned for its technological advancements, to develop Ethiopia’s first online cinema platform. Ethio Telecom announced that it is implementing various digital systems to modernize lifestyles, and this new initiative will revolutionize the entertainment sector. Movie enthusiasts will soon be able to watch films from around the world on their mobile phones, tablets, smart TVs, and computers. Read More Source: capitalethiopia @Ethiopianbusinessdaily

NICE partners with ARIMA to modernize insurance services National Insurance Company of Ethiopia S.C. (NICE), Ethiopia’s leading insurance company, has entered into an agreement with ARIMA, a global provider of insurance software based in Bahrain. This collaboration will enable NICE to upgrade its current system with the latest technology, significantly enhancing its service delivery. Under this agreement, NICE will transform its existing system into a modern, technologically advanced platform. This upgrade will allow customers to apply for insurance from anywhere, whether in person or remotely, and streamline the claims process in the event of an accident. Read More Source: capitalethiopia @Ethiopianbusinessdaily

Ethiopian Airlines is eyeing untapped skies on five intra-continental and 10 international routes across Africa. A recent Airbus study unveiled that the Airline could transform travel by introducing nonstop flights on these underserved paths. Despite its vast market share, Ethiopian’s direct engagement remains limited. Direct flights from Addis Abeba to North America could unlock without those tedious layovers in Europe or West Africa. Read More Source: addisfortune @Ethiopianbusinessdaily

ባንኮች የገንዘብ እጥረት ላጋጠማቸው ባንኮች ማበደር ይችላሉ - የኢትዮጵያ ብሔራዊ ባንክ የኢትዮጵያ ብሔራዊ ባንክ ይፋ ካደረገው አዲሱ የገንዘብ ፖሊሲ ማዕቀፍ ከወሰዳቸው እርምጃዎች አንዱ ፦ የኢትዮጵያ ብሔራዊ ባንክ ባንኮች እርስ በርስ የሚበዳደሩበትን የተነቃቃ የገንዘብ ገበያ ለመመሥረት የሚያስችል የኤሌክትሮኒክ ግብይት ሥርዓት በቅርቡ ለመዘርጋት ዝግጅቱን አጠናቋል፡፡ የገንዘብ ገበያው በኤሌክትሮኒክ የግብይት ሥርዓት ላይ ተመሥርቶ በሚገባ ሥራ ላይ ሲውል ትርፍ ገንዘብ ያላቸው ባንኮች የገንዘብ እጥረት ላጋጠማቸው ባንኮች ማበደር ይችላሉ፡፡ በመሆኑም፣ ባንኮች የገንዘብ እጥረት ሲገጥማቸው ወይም ትርፍ ገንዘብ ሲኖራቸው እርስ በርስ የመገበያየት ዕድል ይኖራቸዋል፡፡ ከዚህ በተጨማሪ፣ ይህ አሠራር ሥራ ላይ ሲውል የባንክ ለባንክ የወለድ ተመን ከማዕከላዊ ባንኩ የፖሊሲ-ነከ የወለድ መጣኔ ጋር የሚጣጣም ሲሆን፣ ይህ ካልሆነ ግን ብሔራዊ ባንኩ ሁኔታውን ለማስተካከል ከባንኮች ጋር የግብይት ጨረታን ይጠቀማል፡፡ Source: tikvahethiopia @Ethiopianbusinessdaily