Chamber Bill Proposes Name Change

Jan 9 , 2021


The amended draft proclamation of the Ethiopian Chamber of Commerce & Sectoral Associations has proposed a change to its name. The draft, presented at a panel discussion last week, would rename the organisation the Chamber of Commerce & Industry. The proposed change caused a split in interest at the meeting attended by all 18 member associations and four of its former presidents. Members from the industry and manufacturing sectors welcomed the change, while others raised concerns on the exclusion of sectors like tourism and ICT in the name. The need for the Chamber to expand its activities, in issuing permits for bazaars and exhibitions, was also raised in the discussion. The service, currently provided by the Ministry of Trade & Industry and regional trade offices, can be conferred by the Ministry to the Chamber by law. Members of the Association suggested this push in order to control the quality of bazaars and exhibitions as well as expand the Chamber's means of income through service fees. The draft law is intended to go through a series of discussions before being tabled to the Ministry, as the Association's first proclamation in 2003 had caused disagreements between members, according to Melaku Ezezew, president of the Chamber.


Radar

Ethiopias Capital Market Sets Sights on Talent Strategy

A new strategy to strengthen the human capital foundation of Ethiopia's emerging capital market is taking shape. Led by FSD Ethiopia in partnership with iCapital Africa Institute and the Nairobi Securities Exchange, the initiative is focused on building the skills, expertise, and institutional capacity needed to support the Ethiopian Capital Market Authority (ECMA). The second round of consultations took place on April 23 at Best Western Hotel, drawing key stakeholders including ECMA Director...


Radar

National Bank Upgrades Core Financial System to Global Standard

The National Bank of Ethiopia (NBE) has officially upgraded the Ethiopian Automated Transfer System (EATS), the country's Real-Time Gross Settlement (RTGS) platform, to align with the ISO 20022 messaging standard, effective March 29, 2025. Handling more than 3.5 million transactions a year worth over five trillion Br, EATS is a critical component of the country's financial ecosystem. It enables real-time, high-value settlements among 35 financial institutions, including commercial banks and m...


Radar

Spice Supply Hits 41,000tns in Nine Months

The South West Ethiopia Coffee, Tea, and Spices Authority has announced that over 41,000tns of spices were supplied to the central market in the first nine months of the current fiscal year, reflecting the region's growing role in the country's spice economy. The region is cultivating spices on more than 90,000 hectares of land, with major contributions coming from turmeric, cardamom, ginger, and black pepper. For the full fiscal year, the authority aims to supply more than 56,000tns of spice...