DBE Moves on Latest Round of Lease Financing

May 14 , 2022

The Development Bank of Ethiopia (DBE) has approved 14 billion Br in lease-financing for 1,200 small and medium enterprises. The state-owned Bank conducted a large-scale training programme on agricultural mechanisation, construction, agro-processing, manufacturing, and tourism in 20 towns (including Addis Abeba) last week. Last year, the DBE moved to amend its lease-financing policy in the areas of the time of commencement of interest, time of relief, and working capital. The Bank provides lease-financing services to qualified enterprises in the agriculture, agro-processing, manufacturing, tour, construction and mining sectors. An enterprise has to employ at least six people to be eligible for financing, amounting to anywhere between half a million Birr and 7.5 million Br.


Industrial Park Garners $10m from Free Trade Zone

A report from the Industrial Parks Development Corporation (IPDC) has revealed that over 10.7 million dollars (half a billion Birr) has been gained from the Dire Dewa Free Trade Zone in the last fiscal year. The development of FTZs is one of the major economic initiatives set as part of Ethiopia's 10-year perspective development plan. Officials disclosed that efforts to bring logistics and trade sectors into the free trade zone are in the pipeline. Located 445Km east of the capital, Dire D...


Chinese Institution Covets Bamboo Development

Ethiopia aspires to develop the bamboo industry through technology, research, and training partnering with China's Nanjing Forestry University last week. Officials at the Ethiopian Forestry Development said that the industry remains underdeveloped considering the large resources available with 1.47 million hectares of bamboo forest. Average exports of bamboo products only accounted for 0.02pc of global exports, proving that the country has not used it even to its minimal potential. Accordi...


Fuel Prices Go High

Officials at the Ministry of Trade & Regional Integration have made an average three percent increase on the price of fuel, effective September 29, 2023. After only a month since the last adjustments were made, the statement from the Ministry indicates the price twig was necessary following an international oil market change. Following the adjustment, a litre of Benzine is 77.65 Br, up by 2.8 Br; a litte of Diesel goes for 79.75 Br,  while Kerosine is sold at 79.75 Br which increased by...