Leather Association Embarks on a Trade Fair


Leather Association Embarks on a Trade Fair

A trade show that aspires to bring much-needed attention to the leather industry unfolded in the capital last week where over 200 exhibitors showcased their products. The organizers hope to utilize the ever impending AfCFTA agreement which allows for easier regional trade. Held at the Millenium Hall the three-day event was attended by industry players from 35 countries and ushered in a magazine produced by the industry along with the introduction of Ethiopian Highland Leather (EHL) to a wider audience. The trade fair has been hosted by different African countries since its launch back in 2008 while having to pause during the pandemic. The Ethiopian Leathers Industries Association partnered with the Industry and Trade & Regional Integration ministries and United Nations Industrial Development Organization (UNIDO) to launch the All African leather fair in Ethiopia this year with the tagline "the cradle of humankind and the origin of leather". The Association has 189 members and seeks to revitalize a sector that has been burdened with a forex crunch, the dismissal of Ethiopia from AGOA and spurs of regional conflict. Redman Bedada, president of the Association, announced the expo at a press event held at the Ambassador Hotel a couple of days before the event.


Radar

Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


Radar

Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


Radar

Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


Back
WhatsApp
Telegram
Email