Sales of new motor vehicles dropped marginally in the nine months ended September, with the slowdown linked to the economic uncertainty in the context of the recent General Election. Formal …
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Eastern Africa
- AfricaBusinessEconomyEthiopiaFinance & ServicesKenya NewsSafaricom
Safaricom Consortia To spend Sh36.3 Billion Annually In Safaricom Ethiopia
Safaricom consortia will spend Sh36.3 billion ($300 million) annually in Safaricom Ethiopia. Safaricom Chief Executive Officer (CEO) Peter Ndegwa said the amount will be invested every year. This comes at …
- Banking, Finance & InvestmentBusinessEconomyEthiopia
Government expects saving of 100 million dollar per year from the ban selected import items
The central bank of Ethiopia expects saving close to 100 million dollar per year, from the ban imposed on selected import items. In a circular written on October 14, 2022, …
- BusinessEconomyEthiopiaTransportation & Logisitics
Railway demurrage suffocates exporters and importers for small delays
Exporters, importers, and logistics companies are irked by the Ethio-Djibouti Railway’s (EDR) exorbitant demurrage charges for small delays. As an alternative to railway transportation, a significant number of businesses are …
Tea farmers selling their produce to KTDA-managed factories recorded improved earnings in the July to mid-October period as volumes sold increased. Average prices for teas from KTDA-managed factories increased to …
- BusinessEastern AfricaEconomy
Ruto-Led Meeting With KRA to collect Sh3 Trillion by December to fund the country’s development budget.
The government is betting on the Kenya Revenue Authority (KRA) to collect Sh3trillion by the end of the year to fund the country’s development budget. Speaking during a meeting in …
- BusinessEconomyEthiopiaSafaricomTelecommunications
Safaricom launches a commercial service in Addis as Ethiopia telecom to face stiff competition
Safaricom Ethiopia launches commercial services in Addis Ababa, ending the half-century old telecom monopoly that was under the control of Ethiopia telecom. At a press briefing held at the Hayatt …
- Banking, Finance & InvestmentBusinessEconomyEthiopia
Central Bank of Ethiopia freezes accounts of 392 currency dealers
The National Bank of Ethiopia ordered banks to freeze the accounts of over 392 individuals accused of trading foreign currencies in the parallel market. Yinager Dessie (PhD), governor of the …
- AgricultureBusinessEconomyEthiopiaUncategorized
Amhara Region seeks one million daily laborers to harvest 6.9million quintals
One million daily laborers are required by the West Gondar Zone, which is a part of the Amhara Region, to harvest 6.9 million quintals this month. The call comes as …
- Banking, Finance & InvestmentEthiopiaInsurance
Independent regulatory body to set free insurers from central bank’s shadow
The Insurance Supervision Directorate at the National Bank of Ethiopia (NBE) is set to become an independent insurance regulatory body separate from the central bank. It will evolve into a …