Coffee Exports Hit Record $1b Mark

May 14 , 2022

Coffee export revenues have topped one billion dollars for the first time. Over 300,000tn of the cash crop has been shipped abroad over the first 10 months of the financial year. Officials say China has grown to become the leading export destination for Ethiopian coffee, while Germany, the US, and Saudi Arabia remain large buyers. Coffee remains the country's most valuable export commodity, regularly bringing in double the revenue generated by the export of other agricultural products such as cut flowers and khat. Nearly 250,000tn of coffee was shipped abroad last year, generating a little over 900 million dollars. An estimated 15 million people in Ethiopia depend on coffee farming and trade to make a living.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...