Coffee, Tea Export Yields 200m Dollars

December 5 , 2018


Coffee, Tea Export Yields 200m Dollars

Over 200 million dollars was generated from 84,000tn of commodities in the first quarter of the fiscal year, including coffee, tea and spices. The boost is attributed to the measures taken to improve quality by the newly-formed national committee to oversee the entire product chain, according to Adugna Debela (PhD), director general at the Ethiopian Coffee & Tea Authority. In addition, the Authority has been working with agriculture extension workers in introducing seeds that suit the ecology of the country to enhance productivity. There are challenges with regard to quality and implementation of guidelines that the authority has to tackle in the coming seasons, according to Hussien Agraw, president of the Ethiopian Coffee Exporters Association. Ethiopia plans to export 300,000tn of coffee, tea and spices in the current fiscal year.


Radar

Ministry Revokes Hundreds of Mining Concessions

The Ministry of Mines has revoked the licenses of 972 for alleged non-compliance with the terms of their exploration and production permits, and involvement in illicit trade.  Among those on the receiving end of the measure is Kefi Gold, a firm that has been conducting gold exploration in the Western Wellega Zone of the Oromia Regional State for over a decade. The 2,000hct exploration area is estimated to hold deposits of close to 50,000Kg of gold. Last week, the National Bank of Ethiopia ap...


Radar

World Bank, Fed Agree on $715m in Funds to Fight Food Insecurity

The World Bank Group and the Ministry of Finance have signed an agreement for 715 million dollars to go towards fighting food insecurity. Most of the financing (600 million dollars) is earmarked for the implementation of a Food Systems Resilience Programme. A third of the amount is in the form of grants, while the balance is credit. An additional 115 million dollars is pledged for improving access to financial services and bolstering economic activity in pastoralist areas. The areas target...


Radar

DISRUPTION HOPEFULS

Youths checkout a booth at the AddisRupt Expo 2022, which was hosted at Safari Hotel on June 25, 2022. The expo focused on technological and entrepreneurial work, showcasing over 20 startups to visitors. The promoters of the expo aimed at connecting startups with investors and was organized by firms such as LinkUp Addis, Profit Marketing and Afromile Trading...