Central Bank Ups Minimum Threshold Price for Flower Exports

Apr 2 , 2022

Regulators at the National Bank of Ethiopia (NBE) have increased the minimum price threshold for fresh-cut flowers destined for export. The changes add a few cents to the minimum prices the central bank had approved in 2020. Roses and summer flowers are classified based on the altitude of the regions they were grown in. The most expensive are summer flowers produced in lowlands, each kilo going for a minimum of 6.37 dollars. In contrast, a kilo of roses grown in highland areas is to be sold for no less than 4.26 dollars. The changes might provide a modicum of relief to horticulturalists, who say they have been hit hard by the central bank's updated forex retention rules. Players in the input-intensive industry say surrendering 70pc of their forex earnings to the NBE has made it difficult to cover costs to import raw materials and inputs from abroad.


Ministry Ponders Tax Waivers for Rural Energy Solutions

Tax exemptions for off-grid energy technologies like solar pumps and mini-grids are under discussion, spearheaded by the Ministry of Water & Energy. Commonly used by rural households, officials disclose their simultaneous plan to develop 300 mini-grids in the next six years. According to Birhanu Weldu, the lead executive of rural energy technology development, the initiative tackles the country's low electrification rate and reliance on charcoal and firewood. Charcoal, fuel wood, and...


Rural Land Proclamation Comes to Light

A landmark legislation that grants title holders in rural areas the right to use the property as collateral was unanimously ratified by Parliament last week. It primarily focuses on extending access to finance for farmers and pastoralists, through a structured land title system. It also introduces criminal penalties for the illegal transfer of property. Replacing the 18-year-old proclamation for rural land management, the law sentences individuals engaging in land invasions and unauthoris...


Ethiopian Unveils $50m Domestic Terminal Renovation

With a rising demand for domestic travel, Ethiopian Airlines has renovated its terminal at Addis Abeba Bole International Airport with 50 million dollars to handle customers. The expanded terminal has doubled its previous size to 25,750Sqm and accommodates 200 daily flights to and from 22 domestic destinations. It includes four contact gates, 10 remote departure gates, 22 check-in counters with automated baggage screening systems, shops and restaurants. The terminal also features a dedica...