ECX Introduces Five Commodities to Trading Floor

Feb 26 , 2022


[ssba-buttons]

The Ethiopian Commodity Exchange (ECX) introduced five agricultural items to its trading floor last week. The addition of black pepper, fenugreek, black cumin seeds, Indian peas, and coriander brings the commodities traded at the Exchange to 16. The Exchange's officials say the move will improve the production and marketing systems associated with the spice trade and reduce high transaction costs brought on by the heavy involvement of intermediaries. More than half a million smallholder farmers cultivate spices on an average holding of less than half a hectare, producing over 240,000tn of 50 varieties of spices each year. The majority of the production comes from the Oromia and Amhara regional states.


Radar

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...


Radar

City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...


Radar

Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...