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Central Bank Gives Green Light to Two New Banks

The National Bank of Ethiopia (NBE), a federal agency responsible to regulate the financial sector, has given a green light for promoters of two commercial banks under formation, Oromia International Bank and Access Bank. When they become fully operational, these banks will be additions to the eight private banks active in the market today.

Manufacturing

Fashion Radar Picks Up Ethiopian Leather

The Ethiopian leather industry has been manufacturing mainly wet blue leather for the last 10 to 15 years. It is a typical feature of developing countries, as wet blue is the first stage of the leather value chain.

Construction

Brick Product Share Company

The Brick Product Share Company is located in Addis Ababa, with two branches, Ethio-Brick Product and Burayu Brick Products. The company has a total area of 186,780 m2 of land at Burayu and 170,250 m2 at Ethio-Brick'

Feel the Vibe, Literally

Agriculture

Ethiopia Agriculture 50% of GDP

The economy of Ethiopia is based on agriculture, which accounts for half of gross domestic product (GDP), 60% of exports, and 80% of total employment

At 2 A.M., Dark Humor Meets the Camera Lights

Microeconomics

Intra-household Distribution of Expenditures in Rural Ethiopia

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Hotel

Government owned hotels are all slated for privatization.

Government owned and operated hotels, a legacy of the socialist past, are, under the new government, are all slated for privatization.

Tourism

Growth Depends on Overcoming Negative Images

In 2006, travel and tourism in Ethiopia accounted for 5.5% of the country's GDP. The government is proving its commitment and willingness to develop tourism through a number of initiatives.

Mining Sector

Little of Ethiopia's expected mineral potential has been exploited

Mining and quarrying accounted for less than 1% of GDP, which grew by 7.9% in 2001, 5.4% in 2000, and 6.3% in 1999, and was expected to grow a further 5.8% and 6% in the following two fiscal years.