The recent shift to a market-driven foreign exchange (FX) system in Ethiopia has sparked both opportunities and risks for the banking sector, according to industry experts. While the flow of forex from outside increased following macroeconomic reforms, the anticipated growth in foreign exchange transactions has not materialized as expected.
Since July 29, 2024, commodities such as gold and coffee, which were previously traded on the black market, have begun to be processed through banks. However, experts indicate that the development in this area over the past three months has fallen short of expectations.
Tewodros Hailu, Director of Awash Bank's Banking Transformation Directorate, commented on the implications of the government's reforms on the financial sector. "Foreign exchange has brought risk to banks," he stated. "We were previously focused on local currency, but now FX exchange has become...
In a recent interview with Capital’s Groum Abate, Francis Agbonlahor, Managing Director of Inchcape Africa and the Motor & Engineering Company of Ethiopia Limited (MOENCO), shared insights into the company's six-decade legacy in Ethiopia's automotive industry. As a subsidiary of Inchcape PLC, a prominent global player in premium automotive distribution, MOENCO has navigated various challenges, particularly in the face...
Teresa Clarke, Chair, CEO, and Executive Editor of Africa.com, interviewed Paulin Basinga on advancing public health initiatives in Africa.
In an era where global narratives about Africa often oscillate between despair and paternalism, Dr Paulin Basinga the newly appointed leader of the Bill & Melinda Gates Foundation in Africa, spoke of a vision of philanthropy that prioritizes dignity and partnership...
The Somali Regional State Urban Development and Construction Bureau invites all interested bidders and eligible bidders for the procurement and supply & installment of the following office equipment and furniture for the Somali Regional State Eleven (11) Zonal Administration Offices; Item/ Equipment and FurnitureTables: Managerial Tables(as per the Specification);
Chairs: Managerial Chairs Guest Chair,(as per the Specification);And Others based on the Detail Specification on the Biding Document 1. Interested bidders should provide copies of relevant and valid documents with renewed trade license. In land revenue for the year 2017, VAT and TIN registration certificate and evidence indicating that the bidder has performed taxpaying obligations from Federal & Regional inland revenue. 2. All eligible bidders shall to submit sealed bids containing one Originaland copy of technical and financial proposals separately each. 3. Bid shall be valid for 21 days starting from the day published on Capital. 4. The bid security validity period shall be 90 days after bid opening and the bidders must be accompanied by bid security (conditional bank guarantee) or CPO not less than 2% for total price, they shall be delivered to the above office on or before closing date @ 09:00 AM morning, late bids will be rejected. If there will be public holiday and weekend on this date, the closing and opening of the bid will...
Somali Regional State Urban Development and Construction Bureau
The Somali Regional State Urban Development and Construction Bureau invites all interested and eligible bidders for this Two projects:
1.Gode Soccer Field, Artificial Football Field, Fense, Around Dich with Fense And Light Work Project
2. Degahbur Soccer Field, Artificial Football Field, Fense, Around Dich with Fense And Light Work Project
Requirements for Bidders:
Bidders must provide copies of the following valid and renewed documents:Trade license for the year 2017 (Ethiopian Calendar).
VAT and TIN registration certificates. o Evidence of tax payment obligations fulfilled from Federal and Regional Inland Revenue authorities.
All bids must be submitted in sealed envelopes, containing one original and one copy of both technical and financial proposals in separate envelopes.
Important Details:
Interest bidders Should have to Provide
1. Category Specialized for Foot Ball
2. Fifa Certified Standard Certificate
Bid Validity: 21 days starting from the date of publication in Capital newspaper.
Bid Security: Valid for 90 days after bid opening. Must be in the form of a conditional bank guarantee or CPO amounting to not less than 2% of the total bid price.
Submission Deadline:
Bids must be delivered to the address below on or before 9:00 AM on the closing date.
Late bids will be rejected.
If the closing date falls on a public holiday or weekend, the bid opening will take place on the next working day at the same...
On November 30, 2024, Negussie Tefera (PhD) celebrated the inauguration of his 438-page autobiography, "Zore Beya Sayew," at the National Theatre Hall. A passionate reader since childhood, Tefera reflects on his journey from radio to a leadership role in the Prime Minister's Office, detailing his experiences through significant political transitions. With multiple accolades and a rich publishing history, Tefera's...
The vibrant Wynwood Art District is set to host the launch of Ethiopian artist Prince Merid Tafesse’s latest book, ‘LI’ILIT|PRINCESS: Homage to Mother’, co-curated by renowned artist and philanthropist Rita Marley. The event will take place on Sunday, December 1, and will also be accessible via Zoom.
Rita Marley, wife of reggae legend Bob Marley, has long been a champion...
South Africa’s Minister of Mineral and Petroleum Resources, Mr Gwede Mantashe has committed to attend the four-day AOW energy event (https://AOWEnergy.com/) in Cape Town from 7 – 10 October.
AOW: Investing in African Energy brings together industry leaders to develop policy, share discoveries, secure investment, and shape Africa’s energy future. This year’s event will feature more than 1 600 senior delegates, 80 ministers and officials from 70+ countries and representatives of more than 760 companies.
Announcing Mantashe’s confirmed attendance, Chief Executive Officer of Sankofa Events, Paul Sinclair...
On the back of major investments from multilateral finance institution the African Development Bank, The Gambia is poised to increase its electrification rate to 70% – 50% in rural areas – by the end of the year. In the wake of the country’s burgeoning energy sector, The Gambia’s Minister of Petroleum and Energy Nani Juwara will participate as a speaker at this year’s African Energy Week (AEW): Invest in African Energy 2024 conference, which takes place in Cape Town from November 4-8.
The Gambia represents...