Gov't Avails $85m for Cement Factories

Aug 29 , 2020


The government has availed 85 million dollars in foreign currencies for cement manufacturers, which have been challenged by the forex crunch, to import spare parts. Melaku Alebel, minister of Trade & Industry, announced this last Tuesday, August 25, 2020. The Minister stated the intervention is expected to boost the production capacity of the 12 cement factories, which are performing at an average of 63pc of their total capacity. The current capacity of the companies is expected to increase to 85pc in the coming three months, according to Melaku, who added that in the meantime the Ministry will allow the importation of cement to match the current need. Currently, cement demand in the country stands at 11.5 million tonnes a year, while the actual production is a little over eight million tonnes. The Ministry, in a series of moves, also removed the price ceiling it had placed on retailers in addition to allowing wholesalers or agents, grade-one contractors and megaprojects to engage with the distribution of cement again.


Radar

ARCANE MARKERS

Hamere Berhan' at the old post office prints books using ancient paper made from animal skin called 'Birana'.  It is part of the Ethiopian Orthodox Tewahdo Church which has had scribes for close to two millennia. The shortage of paper is evident with close to 10 companies operating in the paper conversion industry and a single paper mill in the country. Local players have seen their market share drop over the years and are looking to regain it. ...


Radar

GREEN SHIFT

A palm tree is moved to a new location for replanting around Meskel square. The global effort to battle man-made climate change has gained steam over the last few years. African countries have shifted gears in trying to unlock climate financing from the global north. With debt-to-GDP ratios averaging around 62pc continent-wide, many countries are utilizing the climate narrative to get debt structuring. This was one of the appeals of the Prime Minister of Ethiopia when he addressed the AU summit...


Radar

STRUCTURAL MAKEOVER

The area around Ambassador, famous for its souvenir shops, is getting demolished for real estate development. The Addis Abeba City Administration has ramped up efforts to remodel the city's architecture over the last few months. The capital was established by Emperor Menelik 137 years ago. He also introduced the first telephone, car, hotel, and hospital to the country. A construction project headed by the mega projects office to commemorate his victory over the Italians at Adwa is 70pc complete...