Gonder Gears up for Electronic Trading Centre


Gonder Gears up for Electronic Trading Centre

The Ethiopian Commodity Exchange (ECX) announced that it would be opening up its fourth electronic trading centre in Gonder, Amhara Regional State. In addition to its head office in Addis Abeba, it provided electronic trading services in Hawassa, Humera and Neqemt. Similar facilities are also under construction in Mizan Teferi and Tepi in the country's southern part. In its half-year report, ECX reported that it had traded 320,000tn of commodities worth 19.8 billion Br. The figure is 11pc higher than what it had targeted for the first half of the fiscal year and over 13pc higher than what it traded during the same period last year. However, ECX fell slightly short of its goals in terms of quantity traded over the past six months, with a five percent decline compared to the same period last year. With the inclusion of speckled beans, white pigeon peas and pinto beans onto the trading platform, the number of commodities traded at ECX has reached 12. ECX also announced that it is currently conducting preliminary studies to introduce nine new commodities to its trading floors, including cotton and various spices.


Radar

Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement an...


Radar

Central Bank Keeps Lending Lid Tight as Inflation Squeezes Economy

The Central Bank has reaffirmed its decision to maintain an 18pc cap on credit growth, reinforcing a commitment to tighter monetary policy during persistent inflation and economic uncertainty. The National Bank of Ethiopia's (NBE) monetary policy committee cited ongoing concerns over inflation, which stood at 19.9pc year-on-year (YoY), and liquidity imbalances as reasons to uphold the restriction on lending. Bankers and analysts interpret this move as evidence of regulators' determination to...


Radar

Ethio Telecom Expands Services with DStv Streaming

Ethio telecom enters the entertainment pool with bundled DStv streaming services through high-speed broadband internet and mobile data packages. The partnership with MultiChoice Ethiopia aspires to merge the telecom's fiber broadband and mobile network with DStv's content. Subscribers can access DStv channels through mobile data or fiber broadband bundles, with discounts of up to 35pc through Telebirr or My Ethiotel (*999#) and up to 26.5pc at sales centers for fiber broadband bundles. Acc...