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May 21 , 2022 . By BERSABEH GEBRE

Capital Market Launch Unlikely Before Two Years

Efforts to form the country's first-ever capital market took a meaningful step last week, but there is a long way to realise an initiative floating around since the Imperial Era. A trading floor of the Ethiopian Securities Exchange will likely not be opened for another two years. Despite lawmake...

May 21 , 2022 . By TSION HAILEMICHAEL

Exporters Face Ship or Lose Ultimatum, Again

Trade regulators have warned exporters to immediately ship oilseeds and cash crops they claim to have discovered stored at warehouses in Addis Abeba and other states. The authorities are pushing for the export of 235,000tns of cash crops, which they say were found in warehouses belonging to 162 traders and exporters. It is not the first time for them to issue stern warnings. In March this year, they announced discovering 60,000tn of cash crops at warehouses owned by 105 exporters following investigations in Addis Abeba and Adama. Oilseeds account for two-thirds of the latest batch...


May 21 , 2022 . By TSION HAILEMICHAEL

Federal Warehouse Receipt Credit Scheme Ramps Up

Federal officials are moving forward with a belated initiative to form a regulatory body tasked with supervising a national credit scheme that facilitates loans for farmers, unions, and agro-processors using receipts for commodities they keep at warehouses. It has been 17 years since laws were introduced to regulate a warehouse receipt system and nearly two years since a bill that governs the scheme's implementation was legislated. Nonetheless, the initiative has remained on the back burner. Two months ago, a team from the Ministry of Trade & Regional Integration (MTRI) laun...


May 21 , 2022 . By TSION HAILEMICHAEL

Agrochemical Importers Plead for Credit Extensions, Blame Logistics Disruptions

A consortium of agrochemical importers has pleaded with central bank authorities for an extension of waivers on commission fees paid to prolong letters of credit (LCs) and cash against documents (CAD) agreements for the third time in a year. The pleas come following months of uncertainty due to a global shortage of shipping containers. Lockdowns and travel restrictions have caused a slowdown in loading and unloading processes, creating disruptive shortfalls. CropLife Ethiopia Agrochemical Association, formed in 1998 by six pesticide importers, represents multinational manufacturers and two...

Fortune News

May 21 , 2022

License Plate Shortage Haunts Car Owners, Dealerships

Car buyers face a shortage of license plates as the federal agency responsible for manufacturing the plates ran out of raw materials earlier this month. The shortage of private (Code-2) plates is d...

May 21 , 2022

Manufacturer Leases Shed at Adama Park for Novel Recycling Venture

Plastic waste can be recycled into construction materials when a manufacturer starts production in Adama Industrial Park. A US-based plastic manufacturer has leased a shed in the park, planning to...

May 21 , 2022

Finance Ministry Grants Grace Period to Vehicle Assembler, Taxi Drivers Left in Limbo

Federal authorities have granted a domestic vehicle assembler a grace period before the seizure of knocked-down parts that have been stored at three customs bonded warehouses for four months. Eyob...

May 14 , 2022

Prodigious Budget Appetite Confronts Thrifty Finance Ministers

The mismatch is apparent. Federal budget planners want to slash expenditures for the next fiscal year, but they are met with a bloated appetite from agencies which submitted their respective proposals...

May 14 , 2022

Regional Court Awards Disgruntled Tendaho Sugar Employees 94m Br in Settlement

Thousands of employees of a sputtering state-owned sugar estate have received a settlement for months of unpaid wages following a ruling from a labour case division of the Afar Regional State's High C...

Policy Surfaces to Revamp Infamous Commercial Farming Initiative

The federal government is to introduce an arrangement that would allow investors and smallholder farmers to engage in commercial farming under joint venture agreements. The arrangement comes follow...

May 14 , 2022

Central Bank Cautions Insurers on Investment, Reinsurance Non-Compliance

Regulators at the National Bank of Ethiopia (NBE) have issued a stern warning to several insurance firms for violating rules set to mitigate risks and ensure investments made from insurance funds are...

May 14 , 2022

Fed to Expand $180m Refugee Welfare Project

Federal officials inch closer to securing 180 million dollars in funding from the World Bank to expand a welfare programme designed to bring refugees back to the workforce while in host countries. The...

May 14 , 2022

Enat Bank Sees Credit Boost to Women Powered by Partners

Enat Bank is moving ahead with a financing scheme that targets financially vulnerable women, partnering with Eziti Information Service Plc, a subsidiary of the Kenya-based digital marketing services p...

May 14 , 2022

Board to Zoom-in on Corporates for Financial Report Compliance

The federal agency responsible for audit standards and practices is set to resume financial report evaluations next year after a year-long regulatory capacity building program funded by the World Bank...

May 7 , 2022

UNFRUITFUL UNDERTAKINGS

It has been a disheartening couple of weeks for tomato growers trying to sell their produce in Addis Abeba's markets. A surplus has seen retail prices halved from the 30 Br a kilogramme that consumers...

May 8 , 2022

Retail Prices at Gas Stations Jump

Prices for benzene and diesel will go up beginning today, May 8, 2022. A litre of benzene is set at 36.87 Br, increasing by 16pc. It is an increase of a little over five Birr from what gas stations...

May 10 , 2022

Bill Pushes Cluster Farming Expansion to Hundreds of Weredas

Farming practice by smallholder farmers to grow crops in rhythm on adjacent plots will be legalised, hoping to stir agricultural productivity. A bill legalising the practice and allowing its commercia...

May 7 , 2022

Freight Associations Hit With Wheat, Fertiliser Transport Quota

The federal government has assigned mandatory quotas to cross-border freight transport associations to ferry fertiliser and wheat from ports in Djibouti. The decision comes following discussions he...

May 7 , 2022

International Firms Vie for Contract to Develop Fishery Master Plan

Three international firms are vying to win a contract to develop a master plan for the productivity and commercialisation of the fishery sector. Consulting firms from Spain, Italy and Uganda have subm...

May 7 , 2022

Shipping Enterprise Seeks CBE Defers $67m in Loans

Executives of the Ethiopian Shipping & Logistics Services Enterprise (ESLSE) plan to apply for loan deferment for two years in their effort to acquire two more vessels. Loan deferment allows them...


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There was a great deal of handshaking and patting each other on the back at the Hyatt Rege...

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Agenda | May 21 , 2022 . By RUTH TAYE

Capital Market Launch Unlikely Before Two Years

Efforts to form the country's first-ever capital market took a meaningful step last week...

Fortune News | May 21 , 2022 . By BERSABEH GEBRE