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News
National Bank Establishes Central Shari’ah Advisory Board to Strengthen Ethiopia’s Interest Free Banking Sector
2+ week, 6+ day ago (380+ words) The National Bank of Ethiopia (NBE) has announced plans to establish a central Shari’ah Advisory Board to strengthen governance and oversight of the country’s growing interest free banking sector. Frezer Ayalew, Director of Banking Supervision at the National Bank, said…...
Chinese Firms Dominate Shortlist for Ethiopia???s USD 12.5 Billion Airport Project
2+ week, 6+ day ago (346+ words) Chinese construction companies have emerged as leading contenders in the shortlist for the construction of Ethiopian Airlines’ planned new airport, as the airline moves closer to awarding major construction contracts for the USD 12.5 billion aviation project. The airport, which will…...
Ethiopia Moves Closer to Eurobond Debt Restructuring After Official Creditors Approve Preliminary Deal
2+ week, 6+ day ago (388+ words) Ethiopia has moved closer to completing the restructuring of its USD 1 billion Eurobond after official creditors approved a preliminary agreement reached between the government and private bondholders, the Ministry of Finance announced. The approval by Ethiopia’s Official Creditor Committee (OCC)…...
China’s Zijin Gold Acquires Stake in Allied Gold, Gaining Exposure to Ethiopia’s Kurmuk Project
3+ week, 3+ day ago (359+ words) China’s Zijin Gold International has acquired approximately 9.2 percent of Canadian mining company Allied Gold Corporation, giving the company indirect exposure to major gold assets including the Kurmuk project in western Ethiopia. Allied Gold announced that the transaction, valued at just…...