The International Finance Corporation (IFC), a member of the World Bank Group, has financially backed Soufflet Malt Ethiopia – a subsidiary of the French-based Gruope Soufflet – with EUR 20 million to help expand the company’s malt production and for its role involving some 40,000 smallholder farmers in the value chain.

ADDIS ABABA: Wuxi No. 1 Cotton Ethiopia Textile Plc., a Chinese textile manufacturer, has opened its textile factory in Dire Dawa’s Industrial Park. Found inside 52 hectares of land with over USD 220 million spent, it has, so far, created more than 1500 local jobs in the area and is expected to reach 3500 once it’s fully operational.

Ethiopian consulting firm,based in Kigali, Rwanda, is working on creating a Pan-African business platform that linksboth Rwandan and Ethiopian businesses.

Control Risk Consultancy, a consulting firm headquartered in London, England, in consortium with the Oxford Economics, has placed Ethiopia at the top of the chart in Africa Risk-Reward Index, which ranks countries depending on the risks and rewards for investors there.

• Affirmed Ethiopia's rating of B1

Moody's Investors Service ("Moody's") has affirmed Ethiopia's B1 long-term issuer and senior unsecured ratings changing the outlook on the Government of Ethiopia to negative from stable on September 20, 2019.

The Dubai Chamber of Commerce and Industry plans to enter the Ethiopian market with a primary focus of engaging in the tourism as well as the real estate sectors, while facilitating conditions that would enable Ethiopian businesses introduce their products to the United Arab Emirates (UAE).

El-Taxi Trading has become the latest company to enter the taxi hailing app business in which taxi owners’ associations are members along with the management of the company. It has been four months since the establishment of the company.

The \Ministry of Finance unveiled what it called a “Home-Grown economic Reform” this week, spearheaded by the Office of the Prime Minister with the involvement of various policy institutions including the National Bank of Ethiopia (NBE), at an event held on Wednesday, August 28, 2019, at Sheraton Addis Hotel in Addis Ababa.

A development and environmental scholar, Atkyelesh G.M. Persson has found out that foreign large-scale firms engaged in the Ethiopian agricultural sector have failed to deliver on productions and argued that most of the companies studied have been found to meet the minimum standards of a “responsible investors”, The Reporter has learnt.

A Spanish firm, CRAU, has partnered with an Australian mining firm, MEGADO, to prospect for gold ore in Southern Oromia region.