ECX Opens New Branch in Metu

Apr 6 , 2019

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.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...