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Info and Insights on Ethiopia's Economy!

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@Businessinfoeth : Ministry of Transport and DP World signed strategic partnership agreement Dagmawit Moges, Minister of Transport and Sultan Ahmed bin Sulayem, the Group Chairman and CEO of DP World, have signed the agreement in Addis Ababa. @Businessinfoeth

@Businessinfoeth : #Ethiopia gets 2.5 billion dollars from foreign direct investment in the last nine months of the current fiscal year, according to Lelise Neme, Commissioner of Ethiopian Investment Commission @Businessinfoeth

@Businessinfoeth : Melinda French Gates Now A Billionaire After Stock Transfer From Bill Gates Bill’s investment vehicle, Cascade Investment, transferred $1.8 billion in securities to Melinda on Monday, May 3, the same day the pair announced their surprise divorce, according to SEC filings. Even after the ten-figure transfer, the Microsoft cofounder remains the fourth-richest person in the world. Bill’s net worth, which fell to an estimated $128.6 billion, from $130.4 billion. (Forbes) @Businessinfoeth

@Businessinfoeth : Ethio-Djibouti Railway Share Company opened its trackless station at the Eastern Industrial Park. @Businessinfoeth

@Businessinfoeth : Ethiopian PE firm Cepheus Capital backs textile maker in third deal Ethiopian private equity firm Cepheus Growth Capital Partners has inked its third deal from its debut fund, making an investment in yarn dyed fabric maker JP Textile. JP Textile is located in Hawassa Industry Park, about 340 km from Addis Ababa, the capital of Ethiopia. (The Capital Quest) @Businessinfoeth

@Businessinfoeth : MINT, Visa and Shega partner to drive digitization in Ethiopia Ethiopia’s Ministry of Innovation and Technology (MInT), global payment tech firm VISA, and Addis Ababa based Shega Media and Technology plc, have signed a Memorandum of Understanding (MoU) to promote and drive digitization and support fintechs through awareness of the Visa Everywhere Initiative (VEI) 2021. (Ethiopian Monitor) @Businessinfoeth

@Businessinfoeth : በሚያዚያ ወር የነበረው የነዳጅ ምርቶች የመሸጫ ዋጋ የግንቦት ወር የመሸጫ ዋጋ ሆኖ እንዲቀጥል ተወሰነ @Businessinfoeth

@Businessinfoeth : MICE Ethiopia (Ethiopian Convention Bureau) officialy become a member of ICCA (the International Congress and Convention Association). ICCA is the global association leader for the international meetings industry and specializes in the international association meetings sector, offering unrivaled data, education, communication channels, and business development and networking opportunities. MICE Ethiopia will be benefited from the association on winning association meetings business, gaining

@Businessinfoeth : Mayors, business community discuss private sector prospects Mayor of several cities and representatives of the business community are discussion prospects of the private sector. The discussion underway under the title “Role of Cities for Trade Expansion: Realities in Ethiopia” is involving participation of high ranking government officials including mayors, scholars and several stakeholders with global experiences, among others. In her opening remarks at the session, the Urban Development and

@Businessinfoeth : Did You Know? Ethiopia’s T-Bill auctions volume worth a net of Birr 57bn after accounting for redemptions in 2020 and T-Bill issuance has reached Birr 95bn, i.e., 3% of GDP. Ethiopia’s T-Bill auctions were set up in December 2019. T-Bills now make up 9% of government domestic debt and T-Bills make up roughly 4% of their total lending for private banks in 2020, according to CEPHEUS. The effective cost of borrowing for Government (from T-Bills) is now 6.5%. @Businessinfoeth