Ethiopian Chamber Makes Comeback with New Leadership

Jul 21 , 2024


Ethiopian Chamber of Commerce & Sectoral Associations' (ECCSA) long-awaited general assembly elected Sebsib Abafira from the Oromia Chamber and Aynalem Abayneh (PhD), a former board member from the Southern Ethiopia Chamber, as president and vice president respectively. Nine board members were also selected from across the country's diverse chambers. For four years, the Ethiopian Chamber was not able to elect its leaders. The last one that brought Melaku Ezezew from the Amhara Chamber, was held in 2018 and regional conflicts and bureaucratic hurdles prevented a new leadership from taking the helm. This all changed last week at the 10th General Assembly. Established to champion trade and investment, the Chamber has seen its influence wane in recent years. However, with newfound leaders, a full board and a commitment to serving its members, it is expected to reclaim its role as an advocate for Ethiopia's business community. The Chamber boasts a rich history of supporting its members. From training programs on leadership and strategic planning to establishing an arbitration centre for trade disputes, it has consistently provided valuable resources. The inclusion of four new members from emerging regions – Central Ethiopia, Sidama, South West, and Southern Ethiopia – is expected to further strengthen its reach.


Radar

Sovereign Fund Reviews Mid-Year Performance of Line Companies, Calls for Strategic Improvements

Ethiopian Investment Holdings (EIH) launched its mid-year performance review for its portfolio companies, displaying mixed results for the first half of the fiscal year. Ethiopian Sugar Industry Group (ESIG) reached 95.3pc of its sales goal, selling 64,190tn of sugar for 6.1 billion Br—a 132pc year-on-year growth—despite capacity and supply issues. The Ethiopian Petroleum Supply Enterprise (EPSE) met 92pc and 97pc of its purchase and sales targets, respectively, stating it has benefitt...


Radar

Digital Pay Uptake Booms Among SMEs, Visa Study Finds

Over 80pc of surveyed small- and medium-sized Enterprises (SMEs) have started accepting digital payments in the last two years, according to a new Visa report titled, ‘Value of Acceptance: Understanding the Digital Payment Landscape in Ethiopia'. Citing increased convenience, the report indicates reduced fraud risk and improved efficiency as factors in the uptake. A substantial 66pc of these SMEs believe that investing in digital payment technologies will support future business growth. The...


Radar

ILO Tackles Agricultural Wage Gap

The International Labour Organization (ILO) launched the Setting Adequate Wages in Agriculture (SAW-A) Project last week, with support from the German Federal Ministry for Economic Cooperation & Development (BMZ), seeking to promote fair wage policies, enhance collective bargaining, and support the establishment of minimum wage mechanisms to improve the livelihoods of agricultural workers. The sector employs over 80pc of Ethiopia's workforce, making it the country's largest employment sec...