Latest T-bill Auction Raises 19b Br


Latest T-bill Auction Raises 19b Br

The central bank's latest auction of treasury bills (T-bills) saw a total of 19 billion Br worth of bids. The government-guaranteed bonds are auctioned off bi-monthly to financial institutions, pensioners funds and individuals. Of the total sum, 13 billion Br was raised in a non-competitive bid committed by commercial banks. A few weeks ago, the National Bank of Ethiopia (NBE) had obligated banks to commit returns from Development Bank of Ethiopia (DBE) bonds to buying T-bills. The average yield of T-bills with a maturity of 28 days declined to 7.8pc from 8.2pc during the previous auction last month. Similarly, the yield of 182-day and 365-day T-bills showed a slight decline from last month. As of the end of the last fiscal year, the federal government owed 120 billion Br to the central bank for the returns of T-bills.

[ssba-buttons]

Radar

State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...


Radar

MIDROC Cocoa Drive, Local Production Focus on Value Addition

MIDROC Investment Group is placing a bold wager on cocoa in the lowlands of Sheka. Building on extensive trials at the Bebeka Coffee State Farm, the company has introduced globally prized Forastero, Trinitario, and Criollo varieties alongside coffee. "The results are astonishing," said General Manager Beshada Worku, pointing to international prices that range from 8,200 to 14,000 dollars a ton. The project's first phase covers 50 hectares, with 44,000 seedlings already planted. Expansion to ...


Radar

Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...