ECX Inaugurates Third Online Trading Centre

Jun 15 , 2019


[ssba-buttons]

The Ethiopian Commodity Exchange (ECX) has inaugurated the third electronic trading centre in Humera, west of Tigray Regional State. The centre was inaugurated in the presence of Abraham Tekeste (PhD), vice president of the Tigray Regional State, and Fetlework G. Egziabher, minister of Trade & Industry. ECX has invested 10.4 million Br for the centre, of which 7.2 million Br was spent on construction. The remaining was invested in information technology equipment and stationary materials. The European Union has covered half of the budget, while the remaining was contributed from the ECX’s coffers. Lying on 2,000Sqm of land secured from the City Administration for a lease free, the centre has been in a trial phase since April 5, 2019, when it transacted 1,431tn of sesame valued at 86 million Br. ECX is also in the process of constructing a warehouse that can store up to 15,200tn of commodities at Humera with an estimated cost of 40 million Br. There are two more trading centres in Addis Abeba and Hawassa, the capital of the Southern Nations, Nationalities, & Peoples’ Regional State.


Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...