Tullow Oil to Disclose Sabissa’s oil Exploration Results in Two Weeks

Tullow Oil exploration at the Sabissa site, a drilling location some 15 kilometres from Omorate town, are greatly anticipated to be disclosed in the coming two weeks. The first of the three... Read more »

Ethiopia’s Foreign Reserve Catching Up : IMF

Jan Mikkelsen, IMF Resident Representative to Ethiopia said, Ethiopia’s foreign reserve, which could cover less than two months of the country’s import bill as of last September, has now improved to cover... Read more »

Alstom Wins €250m Contract for Ethiopian hydro Dam

Alstom has bagged a €250m contract to develop the 6000MW hydro power plant at Grand Renaissance dam on Ethiopia’s Blue Nile. The deal with Metals & Engineering Corporation will see the French... Read more »

EthioTelecom to Start 4G LTE Service

According to ZDNet.com Ethiopian Telecom to start a 4G LTE service and to cover main cities in the country in the coming couple of years. Airtel Nigeria, one of the country’s GSM... Read more »

Ethiopia Permits Mobile Banking and Money Services

VOA News Ethiopia is one of the last countries in Africa to permit mobile banking. Mobile banking has proved to be profitable in the developing world, where many people still do not... Read more »

Ethiopia Seeks Bids for Coffee Farm, Other State-Owned Companies

(Bloomberg): Ethiopia’s government invited bids for six state-owned enterprises as part of a plan to raise 1 billion Ethiopian birr ($55.1 million) this fiscal year by selling assets to private investors. Among... Read more »

Ethiopia Growth to Slow Unless Private Sector Boosted, IMF Says

Ethiopia Growth to Slow Unless Private Sector Boosted, IMF Says By William Davison Oct. 2 (Bloomberg) — Ethiopia’s growth will slow to 6.5 percent this year and over the “medium term” unless... Read more »

Ethiopian Airlines Receives First Boeing B777 Freighter

Addis Ababa — The Ethiopian Airlines colourfully received its first ultra modern B777 freighter here yesterday which is billed another milestone in the African aviation industry. Speaking at the welcoming ceremony, CEO... Read more »

Mobile Subscribers Numbers in Ethiopia tops 17 million – EthioTelecom

Number of Mobile Subscribers in Ethiopia tops 17 million – Ethio-Telecom Source: telegeography.com State-run Ethio Telecom (formerly Ethiopia Telecom Corporation, ETC) has announced its operational and financial results for its fiscal year... Read more »

Ethiopias inflation rate stays high in July

ADDIS ABABA (Reuters) – Ethiopia’s annual inflation rate remained stubbornly high at 20 percent in July, data showed on Tuesday, though the pace of increase in food prices slowed marginally. Surges in... Read more »