Ethiopia earns $318m from Horticulture Exports

Aug 31 , 2019


Ethiopia has earned 318 million dollars from the export of flowers and other horticulture products in the just concluded fiscal year. The nation generated 261 million dollars form the export of flowers, while the remaining 57 million dollars was secured from vegetables, fruit and herbs exporst, according to Ethiopian Investment Commission. Netherlands, Saudi Arabia, UK, USA, Japan, Norway, Germany, UAE, Belgium and Italy were the main export destinations of Ethiopian horticulture products. A year and a half ago the government made some policy changes to support the growers. It lowered the equity contribution of local horticulture investors to 15pc from 25pc to get a loan from the Development Bank of Ethiopia and extended tax holiday periods and duty-free privileges for both local and international investors. The horticulture sector, which includes, fruits, vegetables, flowers and herbs, employs around 200,000 people across the country, a fifth of whom belong to the flower industry.


Radar

ZamZam Bank Joins Commodity Exchange Payment System

The pioneering full-fledged interest-free commercial bank, ZamZam Bank, has become the 24th financial institution to join the Ethiopian Commodity Exchange's (ECX) payment system. CEO of the Exchange Wendemagegnehu Negera signed the deal with the President of the Bank Melika Bedri last week. According to the CEO, joining the platform which has around 11,000 accounts registered and has transacted over 386 billion Br so far, will allow a reliable mechanism whereby traders can be certain that pay...


Radar

AfDB, ADF to Chart Transformation Path at Diamond Jubilee

The African Development Bank (AfDB) and the African Development Fund (ADF) are gearing up for a major joint meeting in Nairobi, Kenya, expected to draw around 4,000 participants. The event, taking place at the Kenyatta International Conference Centre in late May, will focus on "Africa's Transformation," a theme reflecting the continent's ongoing pursuit of economic and social development. "Despite progress over the years, Africa's transformation remains incomplete," said Vincent O. Nmehielle...


Radar

Big Art Sale Returns to Addis

The annual Big Art Sale returns to Addis Abeba this weekend. Over 100 artists are expected to showcase their original works and prints at the Hilton Addis. What's Out Addis in partnership with the Hilton Hotel is behind the event that showcases the works of over 100 artists. Big Art Sale has been around for the past 18 years showcasing paints and prints. According to organisers, it offers a chance to meet the artists and enjoy a variety of art forms with a dedicated Kids' Corner and food and...


Back
WhatsApp
Telegram
Email