NIB International Bank nets
75.6 million birr
By Addis Mulugeta
NIB International Bank S.C held its 8th annual ordinary
and 9th extraordinary general meetings of shareholders at the
Sheraton Hotel on Saturday, November 24, 2007.
Ato Lemma Haile Giorgis, chairman of the board of directors, stated
to the shareholders during the meeting that the profit of NIB
International Bank before and after tax stood at birr 105.4 million
and 75.6 million respectively.
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Investment bottleneck
in Sendafa
Five star hotel, real-estate investments
on hold for 2 years
By Andualem Sisay
After obtaining a license to invest on a five star hotel and real-estate
in Sendafa, Oromia Region two years ago, investors claim they are
still struggling to acquire the plots to launch their project.
“By now, we would have completed over 50 percent of our project
if we had been given the plot we requested for on time,” says
Etsegenet Taye, Manager of Blue Nile Ethiopia Trading Share Company
who still believes that it is possible for the company to realize
both projects within three years from now.
 MORE
DH GEDA to enter cement production
By Andualem Sisay
A joint venture company comprising of foreigners and an Ethiopian
investors, the Duguma Hunde (DH GEDA) family, are to construct a
cement factory, which will have an initial production capacity of
250 tons per day.
The joint venture which is registered as Anbessa Cement Factory
is expecting a plot for the construction of the factory in Tatek,
Oromia region. ‘The cement factory that will be constructed
with an investment capital of 80 mln birr plans to increase its
production capacity to 500 tons per day after six months,’
told to Capital, Duguma Hunde, Managing Director of Anbessa Cement
Factory.
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