Local Coffee Exporter Partners with American Firm

Apr 17 , 2021

A family-owned business with an average annual coffee export volume of around 2,500tn, is now a country representative for GrainPro Africa, a subsidiary of US-based GrainPro Inc, after the two signed a partnership agreement last week. Nardos Coffee Export will be the official and sole distributor of GrainPro's hermetic packaging products in Ethiopia. Hermetic packaging products are plastic airtight and waterproof bags used to protect and preserve agricultural products during storage and shipping. The partnership with GrainPro, founded in 1992 in Concord, Massachusetts, aims to address challenges faced by smallholder farmers in post-harvest storage and exporters of the coffee beans during shipping.


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

A financial education program targeting youth and Medium & Small Enterprises (MSMEs) was launched by the National Bank of Ethiopia (NBE) last week. It aims to equip interested trainees with personal and professional knowledge through experts from banks and microfinance institutions who will provide comprehensive training. The training modules, developed in collaboration with The First Consult and BRIDGE, cover several angles of financial literacy, including deposits, digital financial servic...


ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...