FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers New TRADE AFRICA New

Fortune Logo



Chinese Textile Manufacturer Joins Adama Industrial Park

Sep 24 , 2022

[ssba-buttons]

A Chinese textile manufacturer has signed a 216 million Br deal for a lease at Adama Industrial Park. The managers of Lighthouse Garment Manufacturing Plc say they expect to invest close to one billion Birr into their new venture and create over 600 job opportunities. The company produces textile fabrics with plans to supply local markets and export a third of its products to buyers in Singapore, Sudan, Tanzania, and Angola. Lighthouse Garment Manufacturing has been in the manufacturing business for over 20 years. The deal last week bucks the trend the Industrial Parks Development Corporation (IPDC) has been witnessing in the textile industry over the past year. Hawassa Industrial Park, its textile hub, has seen its biggest tenants abandon projects or slim workforces and cut production following Ethiopia's debarment from a preferential trade regime with the United States.

Radar

Revenue Drive Intensifies Following 900 Billion Br Milestone

The Minister of Revenue announced plans to collect 1.28 trillion Br in the upcoming fiscal year. This announcement was made during a discussion forum organised by the Ministry of Revenue (MoR) and the Customs Commission, which included senior leaders, employees, and relevant stakeholders. The event, themed "We will achieve our mission through coordinated leadership and active participation of employees," served as the platform for this important announcement. According to the ministry, they s...

Read more >>

Radar

Parliament Endorses Electoral Law Change Tying Party Support to Member Contributions

Federal legislators have ratified a contentious amendment to the Ethiopian Electoral, Political Parties' Registration, and Elections Code of Conduct Proclamation, revising the criteria political parties must meet to access government funding. The revised proclamation requires political parties to secure at least 20pc of their income from membership contributions in order to qualify for government grants. The clause passed with a majority vote in parliament, with two votes against and four abs...

Read more >>

Radar

City Unveils Major School Expansion Across 11 Districts

Addis Abeba City Administration has launched 150 education projects valued at over 5.2 billion Br ahead of the 2026 academic year. Spread across the capital's 11 districts, the rollout includes 14 newly built schools and upgrades to 64 existing facilities, adding 1,655 classrooms alongside ICT labs, libraries, and sports fields. City officials say the investment is part of efforts to improve access and quality of education, with infrastructure designed to accommodate students with disabilitie...

Read more >>