Agriculture Ministry Inks Djibouti Port Deal for Livestock Exports

Jul 17 , 2022


Oumer Hussein, minister of Agriculture, last week signed a memorandum of understanding with his counterpart in Djibouti to use the latter's Doraleh Port as a terminal for the Ethiopian livestock export industry. The Ministry is responsible for issuing export permits, which abattoirs are required to renew every year. Though there are 12 registered export abattoirs in the country, only nine are actively involved in export. Over the last decade, annual export revenues from meat have rarely surpassed the 100 million dollar mark. Last year, 16,625tn of meat were exported from Ethiopia, earning it 75.3 million dollars. An all-time high volume of meat, 20,547tn, was exported in 2018, generating 103.3 million dollars. Sheep and goat meat account for the largest share. The biggest buyers are the United Arab Emirates (UAE) and Saudi Arabia, which account for nearly 90pc.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email