Chinese Companies to Source Ethiopian Coffee

Jan 9 , 2021


[ssba-buttons]

Two Chinese Companies signed an agreement to purchase Ethiopian coffee beans earlier this week. The companies pledged to buy 2,000tn of coffee annually between 2021 and 2023, according to the agreement. The Strategic Cooperation Framework Agreement, signed at the Ethiopian embassy in Beijing, was attended by representatives of the two companies: Jinyi Guo, (PhD), chairperson and CEO of Luckin Coffee; Jerrity Chen, Regional CEO of Louis Dreyfus Company for North Asia; and Teshome Toga, Ethiopian ambassador to China. Luckin, a Chinese coffee company and coffeehouse chain, was founded in Beijing in 2017, while Louis Dreyfus Company (LDC) is a global merchant and processor of agricultural goods established in 1851. Just last month, Luckin had agreed to a 180-million-dollar settlement after defrauding investors by the United States Securities & Exchange Commission. Its stock was subsequently delisted from the Nasdaq Stock Market.


Radar

AMG Holdings Breaks Ground on Industrial Rail Link to Ethio-Djibouti Railway

AMG Holdings has launched construction on a 2.5-kilometer railway connecting its Sheger Industrial Park to the Ethio-Djibouti Railway's Endode Station. The Ethiopian-led project comprises 1.7 Kms of main track and 800 meters of side rail. Chief Project Manager Engineer Nigist Hailu said the line is expected to be completed within six months, facilitating the transport of raw materials and finished goods to Djibouti's port. More than 100 local workers have already joined the project, with addi...


Radar

Ethiopian Deposit Insurance Fund Achieves Full Q1 Collection Target

The Ethiopian Deposit Insurance Fund collected 2.08 billion Br in the first quarter of 2025. This meets 100 percent of the target and represents a 26.83 percent increase compared with the same period last year. The rise in premiums was attributed to higher deposits from member financial institutions. To date, the fund has collected a total of 15.93 billion Br in premiums from member institutions, with 14.51 billion Br coming from regular deposits and 1.42 billion Br from interest-free depo...


Radar

Oromia Bank, Ethiopian Airlines Introduce Fly Now, Pay Later via Milkii Digital App

Oromia Bank's Milkii Digital App, launched on May 3, 2025, has introduced a “Fly Now, Pay Later” service that lets customers book Ethiopian Airlines tickets using digital loans, with payments spread over six months after travel with 16.5 interest rate and allows customers to book flights upto 300,000 Br. Developed in collaboration with Ethiopian Airlines, the platform is part of a broader effort to expand digital finance and simplify access to services. The initiative seeks to enhance conven...