Category: Business

Awash bank in lawsuit over unpaid bills

Awash International Bank S.C. (AIB), one of the biggest private commercial banks in Ethiopia, found itself on the wrong side of the fence with accusation of unpaid bill. A lawsuit was brought at the Federal Higher Court by Giga Construction…
Ethiopia looks to boost textile export to Europe

Ethiopia’s burgeoning textile sector is hoping for European market access as eight manufactures showcased their products at the Texworld/Apparel Sourcing Paris that took place from 11 February until 14 February, 2018 in Le Bourget, Paris. The eight manufactures, Almeda Textile…
Indian farm conglomerate closes operations

Karuturi Global Ltd., the Indian farm conglomerate that has been active in Ethiopia for the past seven years after acquiring more than 100,000 ha to produce food for foreign markets halted its investment activity and left country, the CEO Ramakrishna…
The Amhara National Democratic Movement’s business empire

The head of the immense state-owned holding company Tiret (Endeavours), Tadesse Kassa ketema (a.k.a Tinkishu), is at the centre of an action to acquire a controlling stake in two national textile companies, Bahir Dar Textile S.C, and Kombolcha Textile S.C.…