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

US Renews National Emergency, Sanctions on Ethiopia

The United States has extended the national emergency and sanctions on Ethiopia for another year under the African Growth & Opportunity Act (AGOA). Signed by President Donald J. Trump, the measure was first declared on September 17, 2021, through an executive order citing the conflict in northern region of the country as an "unusual and extraordinary" threat to U.S. national security and foreign policy. The extension, effective until September 17, 2026, keeps in place restrictions targeti...


Radar

Rockefeller Pitches Clean Cooking to Curb School Meal Emissions

A recent study has revealed the staggering environmental toll of school feeding programs. A single school serving 400 students can burn through the equivalent of 56 hectares of forest each year to fuel cooking. The Rockefeller Foundation flagged the health risks too, with most cooks, predominantly women, breathing smoke levels ten times higher than the World Health Organisation's safe limit. "If every school meal transitioned to clean cooking with electricity and solar, the emissions saved wo...


Radar

Sun-Powered Grid Brings Light to Qunbi District

A new 600KW solar mini-grid in East Hararge'sQunbi district has connected 2,200 households to electricity, marking a milestone in the recent rural electrification push. Ethiopian Electric Utility (EEU) laid seven kilometres of medium-voltage and 10 kilometres of low-voltage lines, installing four transformers to reach communities long cut off from power. Customers cover only meter and installation costs before accessing the service. The project is part of the national strategy to expand energ...