economy

BonelliErede appoints two partners in Ethiopia – etbaba.com

BonelliErede, an Italian legal firm covering all areas of business and corporate criminal law, in partnership with Ethiopian law firm Tameru Wondm Agegnehu, appoints two local partners in Ethiopia. The two young and energetic Ethiopian lawyers appointed to serve BonelliErede are Seble Geberegiorgis Baraki and Weynalem Weldesenbet, according to the statement from the company. The …

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Cepheus Capital invests in Lion Brands of Ethiopia – etbaba.com

Cepheus Growth Capital Partners (Cepheus Capital) announces an investment into East African Lion Brands Manufacturing Share Company (Lion Brands), one of Ethiopia’s leading domestic manufacturers of fast moving consumer goods (FMCG) products in the home care, personal care and food segments. With this investment, Cepheus Capital will hold a significant minority ownership stake and provide …

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Abay to boost Ethiopia’s cement by 2.5 million tons – etbaba.com

With an investment of 8.8 million birr (about $262 million), Abay Cement Factory is set to boost Ethiopia’s annul cement production capacity by 2.5 million tons. The construction of Abay Cement Factory, is completed 60% and is set to commence operation next year, according to Mr. Samuel Halala, Director of Ethiopian Chemical and Construction Inputs …

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U.S. provides $230 million development aid to Ethiopia – etbaba.com

The United States, through the U.S. Agency for International Development (USAID), and the Federal Ministry of Finance signed a new development partnership agreement this week worth more than $230 million. The agreement underscores the American people’s continued commitment to investing in improving health, education, agriculture, economic growth, good governance, and strengthened resilience of Ethiopians. …

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Ethiopian Airlines embarks on ventilator production – etbaba.com

As part of the national effort to combat COVID-19 pandemic and diversify its revenue streams, Ethiopian Airlines Group his set to launch production of ventilators that can be used in hospitals to treat patients. Fully owned by the Government of Ethiopia, Ethiopian Airlines Group, has recently made a deal with a Chinese company to start …

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Ethiopia – Al Amoudi fires MIDROC CEO Dr. Arega – etbaba.com

Sheikh Mohammed Hussein Ali Al Amoudi, the Ethiopian born Saudi billionaire today fired Dr. Arega Yirdaw, CEO of the biggest investment group in Ethiopia, Mohammed International Development Research and Organization Companies (MIDROC) Technology. Dr. Arega has been running MIDROC Technology Group of Sheikh Al Amoudi, the biggest investment in Ethiopia owning over two dozens of …

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