Gold Export Figures at Odds

Jun 1 , 2024


[ssba-buttons]

A conflicting set of data emerges on gold exports in the nine months of the current fiscal year. According to the Ministry of Mines report 274 million dollars was earned during the period which showed a 83pc increase from the same period last year. However, data from the National Bank of Ethiopia indicates that gold exports generated around 546 million dollars in 2022/23, nearly twice the amount earned during the first nine months. Minister Habtamu Tegegn said they achieved the results by overcoming contraband trade and illegal transactions. He reported that close to 2.4tns were obtained from gold mining companies and an additional 0.6tns from artisanal miners. While the Ministry signalled growth in the gold mining sector during its report to the Standing Committee for Industrial & Mining Development Affairs in a span of a few weeks, some regional states like Sidama and Oromia met only 1.87pc and 24.13pc of their target. Habtamu said security issues had made conducting exploration activities challenging for some of the companies. "Contraband trade and security issues remain a problem," he said. According to the Minister, input shortages had also been difficult for steel production, with companies meeting only 29pc of their targets. He said foreign investors would be invited following feasibility studies on iron ores extraction to meet the troubled sector's demands.


Radar

US Renews National Emergency, Sanctions on Ethiopia

The United States has extended the national emergency and sanctions on Ethiopia for another year under the African Growth & Opportunity Act (AGOA). Signed by President Donald J. Trump, the measure was first declared on September 17, 2021, through an executive order citing the conflict in northern region of the country as an "unusual and extraordinary" threat to U.S. national security and foreign policy. The extension, effective until September 17, 2026, keeps in place restrictions targeti...


Radar

Rockefeller Pitches Clean Cooking to Curb School Meal Emissions

A recent study has revealed the staggering environmental toll of school feeding programs. A single school serving 400 students can burn through the equivalent of 56 hectares of forest each year to fuel cooking. The Rockefeller Foundation flagged the health risks too, with most cooks, predominantly women, breathing smoke levels ten times higher than the World Health Organisation's safe limit. "If every school meal transitioned to clean cooking with electricity and solar, the emissions saved wo...


Radar

Sun-Powered Grid Brings Light to Qunbi District

A new 600KW solar mini-grid in East Hararge'sQunbi district has connected 2,200 households to electricity, marking a milestone in the recent rural electrification push. Ethiopian Electric Utility (EEU) laid seven kilometres of medium-voltage and 10 kilometres of low-voltage lines, installing four transformers to reach communities long cut off from power. Customers cover only meter and installation costs before accessing the service. The project is part of the national strategy to expand energ...