Coffee Authority On Track to Meet $1b Export Target

Jan 7 , 2022


[ssba-buttons]

The Ethiopian Coffee & Tea Authority is on track to meet its target of exporting a little over one billion dollars worth of coffee this year. The cash crop brought in over 515 million dollars in export revenues over the first five months of the fiscal year. The export of tea and spices, also under the Authority's supervision, generated another 10 million dollars over the same period. Coffee generated over 50 million dollars in November alone, as 17,100tn was shipped abroad. The top three export destinations were Germany, Saudi Arabia and Belgium. Officials at the Authority had announced they target to export 280,000tn of coffee and revenues of a little over one billion dollars this year. The cash crop generated over 900 million dollars in export revenues last year, with the country shipping 248,000tn, mainly to the United States, Europe and the Middle East.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...