Wednesday, February 21, 2024

Tag: Forex

Dangote’s new PP bag factory unable to roll due to forex shortage

The PP bag manufacturing plant built by Dangote Cement Ethiopia at a cost of USD 20 million is unable to start rolling due to shortage of foreign currency required to import raw materials.

Gov’t plans to alleviate forex crunch

The Government of Ethiopia (GoE) is preparing a three-year financial program to overcome the country’s daunting financial challenges, Eyob Tekalign (PhD), State Minister of Finance, said at the fifth Annual Private Equity in East Africa Conference held at Sheraton Addis Hotel on June 13, 2019.

Forex strapped Eritrea blocks airlines funds

International Airlines flying to the Eritrean capital Asmara are unable to repatriate their funds to their home countries.

Central Bank directive frustrates oil companies

A directive issued by the National Bank of Ethiopia (NBE) requesting foreign oil companies engaged in oil and gas exploration and development projects in Ethiopia to open a foreign currency bank account in Ethiopia has frustrated international oil companies. 

Forex crunch stirs lubricants shortage

A critical shortage of motor oil and grease is enraging motorists in the country, it was learnt.