German Boost for Agriculture, Small Business Growth


German Boost for Agriculture, Small Business Growth

Ethiopia and Germany have signed grant agreements totaling approximately 33 million dollars to support two initiatives: "Increasing Productivity through Innovation in Agriculture II" and "Promotion of Ethiopian Private Sector II." The agricultural initiative, in its second phase, focuses on financing options to import advanced machinery like tractors and harvesters, aiming to boost productivity and economic growth in the sector. The second initiative targets improved financial access for micro, small, and medium enterprises (MSMEs), especially those owned by women and youth, to promote job creation and inclusive growth. Semereta Sewasew, state minister of Finance, held a signing ceremony last week with KfW Development Bank CFO Bernd Loewen. The Bank has invested over 1.1 billion dollars in Ethiopia to support various development initiatives, including reforestation, conservation, and vocational education. It stated that over 100,000 people have benefited from investments in vocational schools and teacher training.


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Coffee Exports Bring in $1.5B in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


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Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...


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City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...