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Annual innovation competition kicks off

SOLVE IT, a nationwide annual innovation competition, was launched at the compound of the United States Embassy on Thursday in an effort to embrace the “realm of tech entrepreneurship” among Ethiopian youth, and provide needed training in software, hardware and marketing for start-ups.

Massive state loans threaten CBE

The more than 400 billion birr loans the Commercial Bank of Ethiopia (CBE) extended to state enterprises and the government in the past years has posed a threat to the biggest bank in Ethiopia.

Reviving mortgage financing

On December 2014, a newly found trading company called Ziway Share company shocked Ethiopia with a whopping offer 350,000 birr (USD 12,000 at current exchange rate) for one square meter of land in the heart of Merkato, the busiest commercial district in Ethiopia.

New bank prepares to join sector

A new bank, Amhara Bank S.C, is on the horizon of formation as the supervising committee readies itself to sell shares to the public, The Reporter has learnt.

Gov’t reconsiders Yayu Fertilizer JV

A year after the government distanced the scandal-hit Metal and Engineering Corporation (MetEC) from the delayed construction of Yayu Fertilizer, three overseas companies have shown interest to resume the construction of the factory and commence with the production of fertilizer on a Joint Venture (JV) scheme.

Islamic finance taking shape

Merkato, once proclaimed to be the single largest open-market place in Africa, seemed to be evolving overtime. In the past decade alone, Merkato has undergone a significant level of transformation.