Company News

The National Treasury can confirm that the Minister of Finance has approved the recommendation of the Registrar of Banks to place VBS Mutual Bank under curatorship in order to nurse the bank back to health.

Egyptian company Elsewedy has proposed establishing an Egyptian industrial zone in Addis Ababa worth $120 million in investments, along with a wind-powered electric station.

Shenzhen-based Huawei and Beijing-based Lenovo have sold 90,000 mobile tablets, worth 128 million U.S. dollars, to the Ethiopian Central Statistics Agency for the 4th Population Census which is expected to be held in February.

Gigawatt Global, a multinational renewable energy company (headquartered in Amsterdam) which works on the development of utility-scale solar fields in emerging markets, said it will invest 500 million USD in Ethiopia in renewable energy and human resource development.

According to Di Yuan Ceramics (Ethiopia) Plc., 100 brand stores will be setup in Ethiopia for 1000 beneficiary youths as part of the project.

THROUGH its Tigo Pesa money transfer service, has turned three Tanzanians into new multi-millionaires on the eve of the New Year. 'I have suddenly become a millionaire!' .

Nigeria’s manufacturing giant, Dangote Cement, has received legislative approval from the Liberian Senate for the production of cement in the West African country.

Stakeholders and businessmen in Cameroon’s economic sector, have been urged to promote innovation as a means of accelerating growth of small and medium sized companies in the country.

MTN Cameroon, has added two two new contact points; the Hilton Service Centre in Yaounde and Carrefour Market Service Centre in Douala, to the already 22 Service Centres in the country.