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

ETHEREAL SOLACE

The recently unveiled statue of the late singer  Ali Birra glistens in the foggy weather around the Haile Garment area. Art in all its forms has been intimately weaved into the tapestry of Ethiopian history since the advent of Axumite civilisation. Be it paintings etched into the walls of churches across the country or the endemic pentatonic musical scale, art has provided an escape in times of war, drought and strife. As Ethiopia ventures into a new year haunted by inflation, conflicts and uns...


Radar

PRICKLY FIGS

Bundles of sticks and figs are sold for 40 Br around the Gofa area, as urbanites prepare for Mesqel celebrations. Soaring prices of everyday amenities in the capital as conflict resurges in Ethiopia's north has Addis Abeba residents haggling fervently in this holiday season. As the price of a quintal of teff stabilised above 10,000 Br mark this year and a kilogram of onions soared past 100 Br, city dwellers have been counting pennies trying to stretch their holiday budget. The capital's trade bu...


Radar

BEATIFIC SPARKS

Mesqel Square fills with smoke as thousands gather to mark the eve of the eponymous holiday by lighting ritual bonfires. Followers of the Orthodox Tewahdo Church celebrate the day each year that marks the rediscovery of the "True Cross" in the 4th century. The evening is set against a backdrop of hymns by choirs armed with unique Ethiopian church instruments. Mesqel celebrations take place two weeks into the Ethiopian New Year weaving into the early months a festive spirit rarely seen throughout...


Back
WhatsApp
Telegram
Email