Coffee Export Generates $183.6m

Sep 21 , 2019

Coffee exports in the first two months of this fiscal year generated 183.6 million dollars. The value was obtained from the export of 52,300tn of coffee, 6,585tn higher than the same period last year. In terms of revenue, this year’s exports fetched nearly 6.1 million dollars above the previous year. Germany, Saudi Arabia and Japan were the three top Ethiopian coffee export destination countries. The United States, Belgium, South Korea, Italy, France, Sudan and Australia are among the countries to which Ethiopian coffee was exported. The country’s production of coffee is expected to rise to just under 7.4 million tonnes this fiscal year, a 1.4pc increase from the past fiscal year. Exports account for just over half of overall production and are forecast to grow 0.5pc in 2019/20 from the previous year to reach four million bags.


Abyssinia Bank Taps to Digital Loan Solution

The Bank of Abyssinia (BoA) is moving forward to provide banking solutions facilitating microloans. The Bank has hired an Indian-based tech vendor Newgen Software Company, that bagged the international bid on December 22, 2022. Over 10 companies have shown interest in the bid floated by the bank four months ago. The solution provider has committed to completing the project in six months with Yonas Daniel, regional manager for Newgen, and Menbereselassie Gebrekidan, procurement director at Aby...



Bank of Abyssinia rolls out banking services on a truck around Meskel square in the capital. With less than half of Ethiopian adults having access to bank accounts, financial inclusion is a major issue. The central bank revealed in August 2022 that 8,944 commercial bank branches exist in the country. The 30 commercial banks currently in operation offer credit services to less than 400,000 customers charging an average of 17pc interest on asset-backed loans...



Left) Elias Woldu and Mesnbet Shinkute sign a Memorandum of Understanding on behalf of the Ethio-American and Addis Abeba Chamber of Commerce & Sectoral Association, respectively. Some estimates put the number of Ethiopian diaspora living abroad at over two million people, larger than the population of several small nations. Continued economic and political deprivation has forced many to leave the country for better opportunities. While migration to other countries is still high, the number...