American Leather Manufacturer Lands Space in Capital

Oct 1 , 2022


Parker Clay Plc has inaugurated a leather products manufacturing facility in Addis Abeba Industrial Village. The development comes two months after the company received a 1,150sqm plot in the Village from the Industrial Parks Development Corporation (IPDC). The US-based firm retails leather products made in Ethiopia. It started operations a few years ago with a small space and a few employees. It has since seen its workforce grow to more than 200, 80pc of whom are women. The company retails leather bags for as much as 350 dollars on its website. The inauguration comes as the leather industry continues to underperform. Exports from finished leather goods plunged 72pc in 2020/21 from three years prior. Though no figures are yet available for the most recent performance, the export of leather goods accounted for a tiny fraction of revenues.


Radar

Ethiopia Buys Time, Not Relief as Creditors Stall on Debt Write-Off

Ethiopia's official creditors expect to finalise a draft restructuring of the country's debt in the coming months, granting the government more time to repay its obligations while avoiding a direct reduction to the initial debt amount. Ethiopia defaulted on its external debt in December 2023, before its leaders announced a preliminary deal in March with its Official Creditor Committee to reorganise 8.4 billion dollars, an essential step in moving beyond sovereign default. Under the agreement...


Radar

Road Injuries Increase by 35pc, with Pedestrians Most Affected

Addis Abeba's streets continue to present fatal risks for pedestrians, who account for 86pc of all traffic fatalities reported in 2023/24. Megenagna emerged as a particularly hazardous area, logging the highest number of fatalities, including 13 deaths. While the number of pedestrian deaths has dipped slightly, overall injuries have surged by 35pc since 2020/21, with eight out of 10 injuries involving those on foot. The Addis Abeba City Administration revised its 13-year road safety strate...


Radar

Awash Insurance Customer Week Discount

Awash Insurance Company(AIC), serving for over 30 years, gives a 25pc discount on Mortgage Redemption Insurance (MRI), Individual Life Insurance, Education Insurance, Workers' Compensation Insurance, and Fire & Lightning Insurance. This was announced during the celebration of Customer Week at their headquarters, on April 7,2025. Jibat Alemneh, CEO of the company said, Vehicles owners that purchased thier cars with full insurance coverage will receive enhanced benefits at no extra cost at...