Export Revenues Edge Closer to $3b

Apr 30 , 2022


Over 2.95 billion dollars' worth of goods and services were shipped abroad over the first nine months of the financial year, according to the Ministry of Trade & Regional Integration. Agricultural commodities remain the primary earners, accounting for 69pc of revenues. Coffee has brought in over 750 million dollars, while cut flowers and khat have also contributed significantly. The mining sector, mainly gold, accounts for 15pc of export revenues thus far. The troubled manufacturing sector brought in close to 390 million dollars from the export of manufactured products. Despite the performance, players in the manufacturing sector continue to decry challenges in accessing foreign currency for the import of inputs, a lack of sufficient infrastructure, shortages in skilled manpower, and other financial troubles. The issues have forced nearly 400 manufacturing plants across five regions to cease operations.


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Parliament Reviews Bill Allowing Foreign Property Ownership

A draft proclamation that would allow foreigners to own or occupy immovable property in Ethiopia has been submitted to parliament by the Council of Ministers. Designed to attract foreign investment, the draft law plans to ensure that Ethiopian citizens retain their right to land ownership and use. According to a statement from the Prime Minister's Office, the draft was among six agenda items discussed and approved during the Council's regular session held on May 2, 2025. The proclamation is e...


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Speeding in the Spotlight as New Safety Drive Begins

The Road Safety and Insurance Fund Service has stated that drivers are responsible for 68 percent of traffic accidents in Ethiopia, with the remainder mainly caused by pedestrians and road conditions. On this topic, the service launched a one-month mass media campaign on last week focused on raising awareness about speeding, the leading cause of traffic accidents. The campaign, under the motto "Slow Down, Speeding Ruins Lives," plans to shed light on the dangers of speeding. Yohannes Lemma, E...


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Askari Metals Secures Five Gold Licenses in Untapped Adola Belt

Askari Metals has acquired 100pc of Rift Valley Metals, gaining five gold exploration licences covering 460sqkm in Ethiopia's Adola Greenstone Belt, part of the southern Arabian-Nubian Shield, a mineral-rich but underexplored region. "The exploration areas—Sakaro, Sakaro West, Lega Dembi South, Megado, and Wayu Boda—lie near Ethiopia's top gold mines, including Lega Dembi and Sakaro, which have produced over three million ounces of gold. The area is known for orogenic gold systems hosted...