Horticulture Exports Hit $628m Despite Hurdles

Oct 1 , 2022

The export of horticultural products brought in 628 million dollars in revenues last year, according to the Ministry of Trade & Regional Integration. Cut flowers accounted for the vast majority at 541 million dollars, retaining the industry's place as one of the top three export earners next to coffee and khat. Horticultural exports made up a little over 15pc of record-high total export revenues last year. The performance comes despite complaints from flower exporters, who were vocal about disruptions brought about by foreign currency shortages and regulatory changes. In April, the regulators at the National Bank of Ethiopia (NBE) set a threshold price for the exports of fresh-cut flowers to the dismay of the companies and their managers, who warn that higher floor prices could imperil competitiveness in the global market. The move exacerbated misgivings that flower growers had following the central bank's revision of forex retention rules a few months prior.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...