Coffee Export Generates $854m

Jul 18 , 2020

Ethiopia earned 854.2 million dollars during the last budget year, exporting close to 271,000tn of coffee to the global market, according to the Ethiopian Coffee & Tea Authority. The Authority has achieved 93pc of its target from the coffee export trade. Revenue from the export of coffee has also shown a 17.4pc increase compared to the preceding fiscal year, according to the Authority. The increases in revenue from the coffee export trade were attributed to the government authorities' assistance to the sector. Coffee farmers, growers and cooperative unions were provided with credit schemes, according to the Authority. Germany, Saudi Arabia, the United States, Japan, Belgium, South Korea, Italy, France and Sudan are the major markets for Ethiopian coffee exports. Ethiopia is the fifth-largest coffee producer and exporter in the world. The production of coffee in the country takes place over 650,000ha of cultivated land.


Premier Pushes Domestic Drug Production

A six-day domestic pharmaceutical production and innovation expo was inaugurated by Prime Minister Abiy Ahmed (PhD) last week. More than 110 local pharmaceutical manufacturers participated at the Millennium Hall on Airport Road. Recently appointed Minister of Health Meqdes Daba (MD), said local production of pharmaceuticals has become a cornerstone of health policy, which received approval from the Council of Ministers a month ago. However, a report from the Global Fund For Health last year r...


AFDB Lauds $8m for Solar Mini-Grid

Around half a million people foresee benefits from the pilot mini-grid built across nine sites in Amhara, Oromia, Sidama, and the Southern regional states. African Development Bank Group has approved eight million dollars in finance to support the project under the Distributed Renewable Energy & Agriculture Modalities (DREAM) program. The DREAM project, with a total budget of 20 million dollars through concessional loans, grants, and risk mitigation, will cover half of the mini-grid capital...


Parliament Approves $275m Loan for Urban Project

A  275 million dollar loan agreement was approved by Parliament last week, to support the second phase of the Urban Water Supply & Sanitation Project. Set to be implemented over the next three years, the project follows negotiations between Ethiopia and the International Development Association (IDA). The Chief Whip Tesfaye Beljige (PhD), presented details of the loan agreement to lawmakers and said that the project focuses on enhancing the supply of clean drinking water and improving sa...