Jute Sack Plant Underway in Amhara, Oromia

Nov 23 , 2019


[ssba-buttons]

Chemically-treated jute sack manufacturing plants will be constructed in the Amhara and Oromia regional states with a capital investment of 800 million Br. One plant will lie on a 1.5ha plot of land in the Amhara Regional State and another on a 2.5ha plot of land in the Gelan town of the Oromia Regional State, located on the outskirts of Addis Abeba. Construction of the factories is planned to be completed in the coming two to three years. The plants will have the capacity to manufacture 500,000 jute bags annually upon completion. The bags are intended to reduce post-harvest waste of the produce, particularly during storage. "Grains, improved seeds and oil seeds are some of the products that are highly affected by pests after the harvest is collected and stored," said Tesfahun Mengiste, deputy director of  the Amhara Regional State's Agriculture Bureau.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...