Ethio Chamber Embarks on Market Link Project

Jan 19 , 2024


A project that aims to create a market link for avocado, onion and soybean producers was unveiled last week. Ethiopia Chamber of Commerce & Sectoral Association aims to strengthen the capacity of Agri-Business associations in Amhara, Oromia and Sidama regional states through over half a million euros financed by GIZ. Launched at Inter Luxury Hotel, Tito St. the Agri-Business capacity-building project initiative is hoped to have a potential impact on agriculture focusing on value chains to stabilise the market. According to Melaku Azezew, president of the Association, the year-long project aims to provide training and market research to help the producers explore the international market avenue. He said they plan to conduct research and discussions and put forth proposals to the policymakers.


Radar

Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


Radar

Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


Radar

Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


Back
WhatsApp
Telegram
Email