Addis Bank Signs on for Mobile Money Transfer

Wednesday, 25 July 2012 Addis International Bank, Ethiopia signed an agreement with Re-wire ICT solutions plc for Mobile Money Transfer Services.
The Danish IT supplier will partner with the bank to provide the software to facilitate money transfer options from mobile phones including sending and receiving money, paying bills and buying airtime.

Petra Energyia Submits Proposal for Ethiopian Concession

Wednesday, 25 July 2012 Brazilian petroleum company, Petra Energiya, submitted a proposal for a concession in the Ogaden and Abay basins of Ethiopia according to sources.

The actual blocks that the company has submitted a proposal for are yet to be disclosed as the proposal is being evaluated by experts in the Petroleum Licensing and Administration Section of the Ministry of Mines.

The year on year inflation rate in Ethiopia falls to 20.9% in June

Monday, 09 July 2012 .The year on year inflation rate in Ethiopia fell to 20.9% in June from 25.5% in May showing a decrease for the fourth straight month according to the Central Statistics Agency.

Ethiopia to Build New International Airport

Monday, 09 July 2012 .Ethiopia is to build a new international airport between Meki and Modjo roads to address the growth of air traffic at Bole International Airport, Addis Ababa.