Expo Hopes to Revive Overlooked Agricultural Subsectors


Expo Hopes to Revive Overlooked Agricultural Subsectors

  A three-day agricultural exhibition assembling traders from the poultry, aqua & apiculture and the African Livestock Congress is set to kick off at Millenium Hall on Airport Road. Organised by Prana Events, the exhibition aims to promote commercial production, increase productivity and enhance the use of technology across all the agricultural subsectors by bringing international and local traders together. According to a recent FAO report, population growth, urbanisation and gains in real per capita income have resulted in an increased demand for livestock products. Livestock contributes to 19pc of the country's GDP, and also plays a significant role in foreign exchange earnings, accounting for 19pc. Additionally, the sector provides employment to over 30pc of the agricultural labour force.


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Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


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Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


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Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


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