Addis Alemayehou Appointed to KEFI Gold and Copper PLC Board

Addis Alemayehou Appointed to KEFI Gold and Copper PLC Board KEFI Gold and Copper PLC (AIM: KEFI, OTC: KFFLF) has appointed Addis Alemayehou as an independent non-executive director, marking a significant addition to their board. Alemayehou, based in Ethiopia, brings a wealth of experience and a distinguished track record in business and media ventures. He serves as the chairman of Kazana Group, a prominent investment firm known for its diverse portfolio and strategic investments in Ethiopia and beyond. Alemayehou’s entrepreneurial spirit is evident through his pivotal role in establishing Kana TV, Ethiopia’s pioneering dubbed television station, which has transformed the country’s media landscape. Additionally, his leadership extends to Afro FM, Ethiopia’s first English-language radio station, and 251 Communications, further solidifying his influence in the media sector. Beyond media, Alemayehou holds a pivotal position on the board of Dangote Industries in Ethiopia, a key player in Africa’s cement production sector. His involvement underscores his deep-rooted connections within Ethiopia’s business community and his understanding of local dynamics. Harry Adams, executive chairman of KEFI, expressed his enthusiasm for Alemayehou’s appointment, emphasizing the strategic importance of his local expertise and relationships. Adams highlighted that Alemayehou’s insights will be instrumental in advancing KEFI’s flagship project, the Tulu Kapi Gold Project. This appointment reaffirms KEFI’s commitment to fostering local participation across all levels of management and financing within their operations. Alemayehou is slated to officially join the board following the upcoming Annual General Meeting scheduled for 22 July. His appointment is expected to bolster KEFI’s strategic initiatives and enhance their presence in Ethiopia’s evolving economic landscape.

Ethiopian Fuel Prices Soar: New Rates Announced by Ministry

Ethiopian Fuel Prices Soar: New Rates Announced by Ministry Addis Ababa, Ethiopia – The Ministry of Trade and Regional Affairs has announced a significant adjustment in the retail prices of various fuel products, which will take effect starting today, July 3, 2016, at 1:00 PM. This adjustment excludes jet fuel and is driven by the recent increase in fuel prices on the global market. The revised retail prices for fuel products in Addis Ababa are as follows: Gasoline: Birr 82.60 per liter White Diesel: Birr 83.74 per liter Kerosene: Birr 83.74 per liter Airplane Fuel: Birr 70.83 per liter Light Black Diesel: Birr 65.48 per liter Heavy Black Diesel: Birr 64.22 per liter The Ministry emphasized that the adjustments are necessary to align with the rising costs of fuel on the world market. This price change is expected to impact various sectors, including transportation and logistics, which heavily depend on fuel. Businesses and consumers in Addis Ababa should prepare for the financial implications of these new rates, which could influence the cost of goods and services across the board. The Ministry advises all stakeholders to adjust their budgets accordingly and remain informed about potential future changes in fuel pricing. For further information and updates on fuel pricing, please visit the Ministry of Trade and Regional Affairs website or contact their office directly. Contact:Ministry of Trade and Regional AffairsWebsite: www.mot.gov.etPhone: +251-11-123-4567 1 COMMENT Hundera Abdisa Segni July 20, 2024 At 7:52 am Plse notify me new update Plse notify me new update Comments are closed.

Ethio Telecom Surpasses Expectations with 21.79 Billion ETB Profit and Major Network Expansion

Ethio Telecom Surpasses Expectations with 21.79 Billion ETB Profit and Major Network Expansion Addis Ababa, July 10, 2024 (Addis Walta) – Ethio Telecom has announced a remarkable annual profit of 21.79 billion Birr for the 2023/24 fiscal year, reflecting a 108.7% performance. The telecom giant also reported generating a gross income of 93.7 billion Birr, which is 103.6% of its planned target for the year. Subscriber Growth and Service Expansion By the end of the fiscal year, Ethio Telecom boasted an impressive subscriber base of over 78.3 million. Of these, 75 million are voice service users, and 40.4 million are internet users. This growth is attributed to the company’s continuous efforts to enhance service quality and expand its reach across the nation. Financial Contributions In terms of financial contributions, Ethio Telecom has significantly bolstered the national treasury by paying 29.76 billion Birr in income tax. This substantial tax contribution underscores the company’s pivotal role in the Ethiopian economy and its commitment to national development. Network Expansion and Technological Advancements Ethio Telecom has made significant strides in expanding its network infrastructure. The company announced that 124 towns across Ethiopia now have access to 4G network services, providing faster and more reliable internet connectivity to a wider population. Moreover, five towns have been upgraded to 5G services, positioning Ethiopia as a burgeoning hub for advanced telecommunications technology in Africa. Strategic Initiatives and Future Plans Ethio Telecom’s CEO, Frehiwot Tamiru, highlighted several strategic initiatives that have contributed to this year’s success. These include aggressive marketing campaigns, improved customer service, and strategic partnerships with global tech companies. The company has also invested heavily in modernizing its infrastructure and enhancing cybersecurity measures to ensure robust and secure communication services. Looking ahead, Ethio Telecom plans to continue its expansion efforts with a focus on rural areas, aiming to bridge the digital divide and provide equitable access to telecommunications services for all Ethiopians. The company is also exploring new revenue streams through value-added services and digital solutions, aligning with global trends in the telecom industry. Corporate Social Responsibility In addition to its financial and operational achievements, Ethio Telecom remains committed to its corporate social responsibility initiatives. The company has launched various community development programs, focusing on education, health, and environmental sustainability. These initiatives are designed to uplift communities and support the government’s development agenda. Ethio Telecom’s stellar performance in the 2023/24 fiscal year showcases its resilience and adaptability in a rapidly evolving industry. With continued investments in technology and a strong customer focus, the company is well-positioned to maintain its leadership in the Ethiopian telecommunications market and drive further growth in the coming years.

The National Bank of Ethiopia Launches New Monetary Policy Framework

The National Bank of Ethiopia Launches New Monetary Policy Framework July 9, 2024 | Addis Ababa, Ethiopia In a significant move to stabilize the country’s economy, the National Bank of Ethiopia (NBE) has unveiled a comprehensive new monetary policy framework aimed at ensuring low and stable inflation. This initiative follows extensive preparatory work aligned with the NBE’s Medium-term Strategy Plan, which included defining the bank’s mandate to prioritize price stability and enhancing its technical capabilities to adopt modern monetary policy tools. Key Measures Announced: Interest-Rate Based Policy: NBE will now use an interest-rate based regime, with the newly introduced National Bank Rate (NBR) serving as the primary tool for signaling its policy stance. The initial NBR is set at 15 percent, reflective of current macroeconomic conditions. Policy Rate Implementation: The NBR aims to influence broader monetary and credit conditions. It is set close to current interbank lending rates, with commercial bank lending rates ranging between 16-20 percent. Open Market Operations (OMO): Starting July 11, 2024, the NBE will conduct bi-weekly OMO auctions to manage liquidity in the banking system, ensuring interbank market rates align with the NBR. Standing Facilities: An Overnight Lending Facility and an Overnight Deposit Facility will be introduced, allowing banks to manage their liquidity over a one-day horizon at the NBR rate plus or minus 3 percent. Electronic Interbank Money Market: A new electronic platform will facilitate continuous lending and borrowing among banks, enhancing liquidity management without central bank intervention. Supplementary Tools: While transitioning, the NBE will retain quantitative measures as supplementary tools to ensure effective monetary management. Conclusion: These reforms mark a historic shift in Ethiopia’s monetary policy, aligning NBE’s practices with global standards. By establishing a benchmark policy rate and introducing various liquidity management tools, NBE aims to address long-standing macroeconomic and banking sector challenges, ensuring price stability and fostering economic growth. The NBE calls for the cooperation of all stakeholders to ensure the successful implementation of these measures, benefiting the entire economy.

Mohammed Al-Amoudi to Return to Ethiopia with Grand Rolls-Royce Spectre Welcome

Mohammed Al-Amoudi to Return to Ethiopia with Grand Rolls-Royce Spectre Welcome The Anticipation and Grandeur Surrounding a Homecoming After seven years, Saudi-Ethiopian billionaire Mohammed Al-Amoudi is set to return to Ethiopia. Al-Amoudi, known for his extensive investments in the Ethiopian economy, is scheduled to arrive during the first week of Ethiopia’s upcoming new year to attend a family wedding. A Welcome Fit for a Billionaire In preparation for his return, the Sheraton Addis hotel has made significant arrangements. The hotel has purchased and transported the first electric Rolls-Royce model, the Rolls-Royce Spectre, to Addis Ababa. The Spectre, known for its advanced technology and luxurious features, represents a milestone in the adoption of electric vehicles. This vehicle, costing $600,000, symbolizes the high-profile nature of Al-Amoudi’s return and the progress MIDROC is making in embracing new technologies. Al-Amoudi’s Influence and Contributions Mohammed Al-Amoudi has had a notable impact on Ethiopia through his investments in sectors such as agriculture, mining, real estate, and hospitality. He is recognized for his role in developing the Sheraton Addis, which has become a landmark of luxury in Ethiopia. Al-Amoudi’s return is seen as a significant event for the country, reflecting the strong connections he maintains with Ethiopia despite his extended absence. The Context of His Absence Al-Amoudi’s return follows his release from detention in Saudi Arabia. In January 2019, he was freed after being detained for over a year during Saudi Arabia’s anti-corruption crackdown. His detention had raised concerns among his business associates and the Ethiopian public due to his significant investments and contributions to the country’s development. During his absence, there were changes within his Ethiopian investment group, MIDROC. In June 2020, Abnet G. Meskel was appointed as CEO of MIDROC Ethiopia. His tenure ended under unclear circumstances, leading to a leadership change. Jemal Ahmed, known for his experience with Al-Amoudi’s enterprises, succeeded him, bringing a new direction to the company. Al-Amoudi’s Wealth and Forbes Ranking According to the latest Forbes ranking, Mohammed Al-Amoudi’s wealth is estimated at $8.1 billion, making him one of the wealthiest individuals of African descent. His diverse portfolio of investments has continued to thrive despite his absence.

Second Cohort Of Promising Startups Join the Venture Meda Acceleration Program

Second Cohort Of Promising Startups Join the Venture Meda Acceleration Program Addis Ababa, Ethiopia – Venture Meda: Job Creation through Incubation and Acceleration in Ethiopia, launched in partnership with Mastercard Foundation in partnership, the Ministry of  Innovation and Technology and iceaddis, seeks to address employment and economic growth goals in Ethiopia. Through incubation and acceleration initiatives, it aims to create 100 e-commerce start-ups, benefitting young individuals with direct job opportunities and assisting 3,240 small businesses as online third-party marketplace sellers. Additionally, it works towards the broader aim to foster sustainable job creation and expand digital entrepreneurship in Ethiopia. The accelerator program particularly focuses on aiding existing digital entrepreneurs’ growth and enhancing the capabilities of local actors such as MSMEs to engage in digital entrepreneurship and creating connections with local and international investors and key ecosystem players. Building on a successful track record, the program’s previous cohort demonstrably bridged the gap between startups, investors, and established entrepreneurs. This fostered a dynamic environment where local MSMEs and digital entrepreneurs received the support and connections needed to not only participate in the digital economy but also achieve significant growth. The program has announced the selection of seven promising startups for its second accelerator cohort. Marking their onboarding session, these innovative businesses will take ship on a transformative journey designed to help them scale their ventures and march towards success. “We are incredibly excited to welcome the new group of startups to Venture Meda,” says Lensa Kebede, project lead at Venture Meda. “Their innovative ideas and dedication to addressing important challenges are truly inspiring. We are confident that our program will equip them with the resources and guidance they need to thrive.” Participating companies will gain access to mentorship from seasoned industry experts, potential funding opportunities, and intensive workshops covering essential aspects of business development and marketing. Comprising the second Venture Meda acceleration cohort are seven exciting startups: Arada Mart: a membership-based retail and e-commerce platform offering a wide range of high-quality products at competitive prices. ●Website ● Linkedin Betty’s Organics:is a vegetable and fruits delivery  business that strives to get fresh and clean vegetables from small farmers at the outskirts of Addis Ababa. ● Facebook Buy2go: is a platform that is mainly focusing to automate the distribution channel in FMCG industry using the E-commerce B2B platform. ● Website ● Facebook Blu Delivery: Is the pioneering and sole food delivery Service in eastern Ethiopia that is currently operating in the Dire Dawa region. ● Website ●Linkedin JEMLA: is a platform that empowers informal retailers (“Souqs”) by connecting them directly with manufacturers and importers for affordable goods, while also offering access to digital financial services. ● Website ● Linkedin Muyalogy: is an innovative full-service learning platform that offers a comprehensive suite of online courses in a number of different areas. ● Website ● Facebook Kabba Transport: is a transportation company that uses a technological platform to manage demand-based route planning, scheduling, and booking. ● Website ● Facebook

Infinix Mobile Celebrates Emerging Talent at the Grand Finale of the Student Talent Contest in Partnership with Addis Ababa University Culture Center

Infinix Mobile Celebrates Emerging Talent at the Grand Finale of the Student Talent Contest in Partnership with Addis Ababa University Culture Center Addis Ababa, Ethiopia — April 29, 2024 — Infinix Mobile, a global leader in mobile technology, proudly announces the successful conclusion of the week-long student talent contest in partnership with the renowned Addis Ababa University (AAU) Culture Center. The event, which showcased the remarkable abilities of young student artists and performers, exemplifying Infinix’s commitment to empowering youth worldwide. The talent contest, held over the past week, featured students competing in singing, poetry, and theater categories. Participants from diverse backgrounds demonstrated their creativity, passion, and dedication, making it a celebration of artistic expression and cultural diversity. The AAU Culture Center provided an ideal platform for these emerging talents to shine and connect with a wider audience. The closing event, held at the Addis Ababa University Culture Center auditorium, was attended by esteemed guests, including senior representatives from the university, local influencers, celebrities, and thousands of enthusiastic students. The winners of each category were awarded the sleek and powerful Infinix HOT 40 Pro smartphones. These cutting-edge devices symbolize not only victory but also the promise of limitless possibilities. Our distinguished guest of honor personally handed over the HOT 40 phones, inspiring the winners to continue pursuing their passions. As part of its commitment to youth empowerment, Infinix Mobile plans to continue supporting initiatives that provide opportunities for emerging artists and performers. The success of this talent contest reinforces the brand’s belief in the transformative power of creativity. Globally, Infinix has recently launched HOT 40 Pro, a smartphone that features a 6.78-inch FHD+ IPS display, 120Hz refresh rate, a 6nm MediaTek Helio G99 processor, 8GB of RAM which is expandable to 16GB, and 128GB of ROM. The device has a 108 MP lens paired with a 2 MP macro lens, and a 32 MP selfie camera. It also comes with a side-mounted finger sensor, a 5000mAh battery, a 33W fast charger and available in Palm Blue, Horizon Gold, and Starlit Black color. Infinix Mobility is a rapidly emerging technology brand that designs, manufactures and markets an expanding portfolio of smart devices worldwide under the Infinix brand, which was founded in 2013. Targeting today’s youth with first in class technology, Infinix creates trendy, powerful and attainably priced smart devices that bring the latest technology on the market to users around the world at a time when they need it at a price that they want. =ENDS=

Dodai Sets New Standards for Electric Mobility at a Spectacular Launch Event

Dodai Sets New Standards for Electric Mobility at a Spectacular Launch Event Dodai, a pioneering Ethiopian electric mobility startup, conducted a historic launch ceremony, marking a watershed moment in the country’s transport sector. The ceremony, held today 8/4/2024, was attended by renowned guests such as His Excellency Melaku Alebel, Minister of Industry, His. Excellency. Mr. SHIBATA Hironori, Ambassador-Designate of Japan to Ethiopia, and other dignitaries. The highly anticipated launch ceremony demonstrated Dodai’s dedication to changing the way Ethiopians travel while also encouraging sustainability and environmental awareness. Dodai’s unique electric mobility solutions seek to address significant urban transportation issues such as congestion, pollution, and reliance on fossil fuels. Today’s special event is evidence of a catchment basin moment for Ethiopia, clearing the way for a cleaner, more sustainable future, beginning with E-motorbikes in Addis Ababa. During the event, Dodai presented its cutting-edge electric motorcycles models, each meticulously developed to meet the unique requirements of Ethiopian commuters and enterprises. The featured motorcycles proved the company’s commitment to great performance, dependability, and affordability, resulting in a smooth and joyful travel experience for all. In his introductory remarks, Minister Melaku Alebel emphasized the need for sustainable transport solutions in promoting Ethiopia’s economic growth and environmental protection. He praised Today’s vision and dedication to expanding electric mobility in the country, emphasizing the opportunity for job development and decreased carbon emissions. In addition, The Minister stated that “we have promised Dodai that the government will always be on Dodai’s side, supporting the company’s goal and mission.” In his speech, the Japanese Ambassador to Ethiopia praised Dodai’s collaboration with Japanese enterprises for facilitating the transfer of technological skills and the development of sustainable transportation solutions. He emphasized how this engagement will benefit both countries by promoting economic growth and boosting bilateral relations. Dodai’s inaugural event also included compelling presentations and interactive demonstrations, giving participants firsthand experience with the company’s cutting-edge electric motorcycle. Guests were able to explore innovative technologies such as the new electric motorcycles, intelligent charging infrastructure, smart communication possibilities, and improved safety systems. “Everyone said why Ethiopia and my answer for them is always why not Ethiopia” said founder and CEO, Yuma Sasaki , Dodai. “Our mission is to make e-mobility accessible for everyone in Africa” Dodai’s inaugural ceremony demonstrated the company’s commitment to innovation, sustainability, and societal improvement. Dodai’s innovative electric mobility solutions are poised to revolutionize Ethiopia’s transportation environment and inspire other countries to embrace clean and efficient transportation alternatives. About Dodai Dodai Manufacturing Plc (Dodai) is an innovative electric vehicle manufacturer committed to creating a sustainable future for Ethiopia and its youth. Dodai Manufacturing Plc was recently established as a foreign venture in Addis Ababa, Ethiopia, on August 1, 2023. Dodai has raised over $6.2 million from notable Japanese investors, exhibiting strong international support for the company’s concept and Ethiopia’s potential for e-mobility adoption. Dodai has expanded quickly in recent months, with a purpose to make e-mobility accessible to everyone in Africa through innovative products and services. Dodai provides unique e-motorbikes by assembling them in Addis Ababa and wants to spread to important regional cities in Ethiopia by the end of 2024.

251 Communications Unveils Its Bold Rebrand

251 Communications Unveils Its Bold Rebrand Embracing “The Now-The Future” of Marketing Addis Ababa, Ethiopia (March 28, 2024) – 251 Communications, a leading Ethiopian communications and marketing agency, is thrilled to announce its dynamic rebrand strategy designed to propel it into the future of marketing. For over a decade, 251 Communications has been a trusted partner for businesses, crafting effective communication strategies under the Kazana Group umbrella. Now, the agency embarks on a bold transformation, realigning its identity with the ever-evolving marketing landscape. This strategic move reflects a commitment to resonate with today’s clients and their aspirations. The new brand identity embraces the concept of “The Now/The Future,” signifying continuous innovation while staying grounded in present needs. “Our rebrand is about injecting new energy and excitement into our identity,” says Addis Alemayehu, Founder of Kazana Groups. “We’re deepening our connection with the community, fostering genuine relationships, and providing extraordinary experiences.” 251 Communications plans to leverage a strategic mix of digital marketing and public relations to amplify their rebranding efforts. Their website will serve as a central hub, showcasing their new identity and generating excitement among clients and partners. Fantawork Samuel, CEO of 251 Communications, emphasizes, “This rebrand aims to solidify our position as an industry leader by exceeding client expectations and fostering stronger connections.” The rebranding project is meticulously managed in-house, ensuring a seamless execution aligned with the overall vision. While acknowledging potential challenges, the team remains confident in their well-planned strategy. “The rebrand extends far beyond a visual refresh. 251 Communications pledges to deliver cutting-edge features and a revolutionary, customer-centric approach that challenges norms and pushes marketing boundaries” says John Kimani, Creative Director of 251 Communications. 251 Communications anticipates a multi-faceted impact. The agency expects significant financial and team-capability growth, solidifying their leadership position through improved competitive advantages and client interactions. “Clients and partners can expect a revitalized and innovative approach to marketing,” says Fantawork. “We’re excited to unveil our new brand identity and achieve exceptional outcomes in the dynamic world of communications.” About 251 Communications: 251 Communications is a prominent Ethiopian communications and marketing agency, renowned for their unique ideas and client-focused solutions. With a team of industry experts, they offer a diverse range of services tailored to each client’s specific needs. Visit https://www.251communications.com/ to learn more about the rebranding journey. About Kazana Group Kazana Holding Group, established in 2022, boasts a diverse portfolio of over 13 companies across various industries, including marketing, communications, advertisement, fintech, telecom, manufacturing, logistics, technologies, investment, management & advisory