Agricultural Corporation Avoids Anticipated Loss

Dec 12 , 2020


[ssba-buttons]

The Ethiopian Agricultural Business Corporation has managed to surpass its initial earnings target by 125pc. The firm brought in 724.8 million Br in revenues in the first quarter of this fiscal year. The Corporation expected to incur a 27-million-Br quarterly loss but instead earned 24 million Br, according to a recent assessment of its first quarter evaluation reports. The Corporation had a productive quarter due to increased agricultural production growth. It saw profits from a surplus of soil fertiliser and chemicals sales and an unprecedented boost from improved seeds and forest product sales. In contrast, the Ethiopian Sugar Corporation showed a 69pc success rate, earning 300 million Br less than the planned 2.5 billion Br. The earnings came from sugar, ethanol and molasses sales. Reform activities, above-average cultivation of cane plantations, and nearly complete maintenance of field equipment during the rainy season were also reported. Both corporations are under the supervision of the Public Enterprises Holding & Administration Agency.


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...