Hundreds of Khat Exporters See Licenses Revoked

May 28 , 2022


[ssba-buttons]

Officials at the Ministry of Trade & Regional Integration have revoked the licenses of 830 khat exporters. They claim they took the measure following an assessment that uncovered illicit trading activity. Khat cultivation and distribution have increased rapidly despite official reluctance to promote marketing and consumption. Over the past decade, annual harvests increased three-fold, registering a little more than three million quintals last year. The cash crop has been one of the top-five revenue-generating export commodities since the early 2000s. Earnings from khat exports accounted for 11pc (402.5 million dollars) of the total 3.6 billion dollars generated last year, representing 24pc higher than khat export revenues recorded in the previous year Close to a quarter of khat produced last year was exported to major markets such as Djibouti and Somalia. Consumers in these countries bought 710,000qtl of khat last year, close to 80pc going to the latter. Last month, officials at the Trade Ministry doubled the price threshold for khat exports to Somalia to 10 dollars for a kilo.


Radar

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...