Ethiopia earns $318m from Horticulture Exports

Aug 31 , 2019


[ssba-buttons]

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

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...