German Multinational Reaps First Fruits

Jun 19 , 2021


[ssba-buttons]

BASF, a German agri-chem firm, has introduced the first seeds grown in its agricultural production facility in Amhara Regional State to the global market. The firm has done so through Nunhems Ethiopia Plc, which is the domestic entity representing BASF's vegetable seeds division. The eight million euro facility lies on 15ht of land in the Minjar Shenkora Woreda. Two greenhouses sit on two hectares while the rest is used for open field seed production facilities and other infrastructure. The company has around 60 permanent employees and provides job opportunities to over 100 temporary workers. BASF acquired the vegetable seed business from Bayer, a reputed German chemical manufacturer, for 7.6 billion euros in 2018.


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...


Radar

Export Recovery Gains Ground, Industry Still Lags Potential

The Ministry of Industry (MoI) has reported a modest rebound in Ethiopia's manufacturing exports, with revenues climbing eight percent in the 2025 fiscal year to reach 318 million dollars. Minister Melaku Alebel attributed the growth to a gradual sectoral recovery but acknowledged the figures remain well below the country's industrial potential. Speaking at a forum held with 60 top-performing manufacturers, Melaku said the ministry is working to unlock bottlenecks and improve coordination. Th...