Fed Lifts Chinese Assembled Volkswagen Embargo


The ban on the import of electric Volkswagen (ID Series) cars assembled in China has been lifted. It was initially imposed after the Ministry of Transport & Logistics received a letter from the German automobile manufacturer headquartered in Wolfsburg following concerns with the battery's suitability for Ethiopia's weather. However, officials disclosed that a recent study conducted by Adama Science & Technology University contradicts the claims, revealing that the battery has no significant issues. The chain-assembled electric Volkswagen, known for its environmentally friendly features, is equipped with a battery designed to withstand temperatures up to 40 degrees Celsius. The number of vehicles in the capital has surpassed 714,000, with an estimated urban population of five million. The introduction of electric vehicles aligns with global efforts to reduce carbon emissions and promote sustainable transportation.


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Exchange Ponders Adding Salt to its Floor

The Ethiopian Commodity Exchange (ECX) is considering adding salt to its list as the 24th tradable commodity. Executives are currently conducting feasibility studies and preparing sales contracts. Last week, Ali Muhammed, deputy administrator of the Afar Regional State, and Ali Behani, Head of the Regional Mining Bureau, visited the ECX headquarters in the Mexico area. They said regional salt miners and processors are not adequately compensated for their production, with hopes that the EC...


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Public Service Sector Receives Data Privacy Training

Staff members from the National Bank of Ethiopia, the Ministry of Trade & Regional Integration and the Ministry of Revenues received a three-day training on data privacy and protection over the past week. The training aimed to equip participants with the skills of proper data breach notification procedures, minimising risk of exposure, and secure data transfer practices to safeguard personal data during transmission. It was given by the Business Environment and Investment Climate (BEI...


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Unleashing Millions for Micro-Entrepreneurs with Digital Loans

A 100 million-dollar program to scale up six financial institutions to facilitate digital non-collateral loans to micro, small and medium enterprises (MSMEs) was launched last week. Drawing experience from the first digital non-collateral lending platform dubbed Michu powered by Cooperative Bank of Oromia (COOP), the program coupled with Amhara, Bunna, Enat, Wegagen and ZamZam banks. Last year, Coop dispersed 946 million Br loans to farmers through cooperative unions and MSMEs, reaching m...


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