Chinese Construction Company Eyes Coffee Exports

Aug 12 , 2023


China Civil Engineering Construction Corporation (CCECC) plans to enter the coffee processing business at Jimma Industrial Park. Located 360Km from Addis Abeba, the Industrial Park houses several agro-processing investment projects on 5,500sqm land. The Company plans to process coffee beans and export them to international markets. Ethiopian coffee exports have quivered around a billion dollars reaching an all-time high last year at 1.4 billion dollars from 300,000tn. Last week, representatives of the company inked an agreement with Daniel Teresa, deputy head of the Ethiopian Investment Commission and Shiferaw Solomon, deputy CEO of the Industrial Parks Development Corporation (IPDC). The signing event was attended by Commissioner Lelise Neme from the Ethiopian Investment Commission and IPDC CEO Aklilu Tadesse.


Radar

Horn Initiative Boosts Regional Development Agenda

A total of 20 projects worth three billion dollars are currently being implemented in Ethiopia under the Horn of Africa Initiative, which held a performance review platform last week. This initiative, established in 2019, seeks to economically integrate Horn of Africa countries through development projects. Finance Minister Ahmed Shide accentuated the initiative's goals of enhancing infrastructure connectivity, strengthening trade and economic integration, building resilience to natural and man...


Radar

Budget Woes Plague Region

The Amhara Regional State's six-month performance review revealed substantial budget shortfalls, achieving only 28.27pc of its targeted revenue. Chief Administrator Arega Kebede reported to the regional council that of the planned 71.65 billion Br for the current fiscal year, only 20.26 billion Br was collected. Despite this, revenue did see a year-on-year increase of four billion Birr. The regional state's tax-to-GDP ratio stands at a low 2.82pc, far below the national average of 7.05pc. Arega...


Radar

Modern Farming Boosted with New Centre of Excellence

The Agricultural Mechanization Centre of Excellence, built in the Qaliti area with collaboration from South Korea was inaugurated last week. The centre was constructed in seven months at a project cost of 14.7 million dollars funded by the South Korean government. It is expected to serve as a hub for inspecting, controlling, researching, and repairing agricultural mechanization machinery while also providing vocational training to develop skilled personnel in the field. Minister of Agricultur...