European Lab Sets Foot in Hawassa

Dec 7 , 2019


SGS, a multinational company headquartered in Switzerland, has opened a fabric and garment testing laboratory in Hawassa Industrial Park. The laboratory provides tailor-made testing services to local businesses, assuring compliance with international regulations and requirements. SGS's presence in Ethiopia will contribute to and strengthen the local apparel industry’s ability to meet the requirements of global standards and international markets, according to a statement from the company. Their quality inspection, compliance audits, factory assessment, and loading supervision bring to Ethiopia a one-stop service for the country’s textile industry. SGS has over 97,000 employees worldwide and operates a network of more than 2,600 offices and laboratories. More than 65 textile investment projects have been launched in Ethiopia by foreign investors in the last six years. In 2018, the revenue generated from the export of the textile products was 110 million dollars, only 46pc of the target set for the sector. Shortages of cotton, lack of trained employees and instability in some parts of the country were identified as the main causes of the shortfall.


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