Ethiopian to Locally Source Ingredients for Inflight Meals

Oct 17 , 2020


The United States government signed a memorandum of understanding (MoU)with the Ethiopian Airlines Group to assist in sourcing locally-grown and produced ingredients for in-flight meals. The agreement, made through USAID, was signed by Tewolde GebreMariam, CEO of Ethiopian Airlines Group, and Michael Raynor, US Ambassador to Ethiopia. The new partnership will run until December 2022 and provide farmers and producers with technical assistance and access to funds. It will also work on ensuring that the products meet the standard of quality and volume requirements to serve passengers. This business web between farmers and local agribusinesses is expected to open doors to a market with increased total annual revenues as high as 10 million dollars. This will reduce the airline's expenditure for importing supplies and processed foods. The USAID loan facility extends to identifying local suppliers for the list of catering materials that the airline might need in addition to providing support to cooperative unions, youth and women's groups, and other businesses. This support comes through the Feed the Future programme, an initiative launched in 2010 by the Obama Administration to address global hunger and food insecurity.


Radar

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


Back
WhatsApp
Telegram
Email