ECX Opens New Branch in Metu

Apr 6 , 2019


[ssba-buttons]

The Ethiopian Commodity Exchange (ECX) will open a new warehouse and branch office at Metu in Oromia Regional State at a cost of 65.6 million Br. The ECX was given a 3,200Sqm plot of land free of lease by the municipal government of Metu. Construction of the modern warehouse will cost 33 million Br. The construction of a sample-taking shed, branch office and fencing will cost an additional 32 million Br, according to Wendmagegnehu Negera, CEO of ECX. Construction of the new branch is expected to take nine months to a year, but in the meantime, the ECX has rented an office and a warehouse space and is ready to begin operations in Metu. The decade-old ECX trades commodities such as coffee, sesame and maize.


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hilton Hotel Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...