FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Local Company Introduces American Chemical for Farmers

Nov 19 , 2022


[ssba-buttons]

An organic agricultural soil-enhancing chemical dubbed Apex 10 will be commercially available in the local market.  A private company, Jigra Chemicals, introduced the chemical last week at the Hilton Addis, with JSH International, a bio-environmental company headquartered in New Jersey, United States. The launch followed the signing of a deal between the two companies a year ago, allowing the Ethiopian company to have the exclusive right to distribute and sell Apex-10. Promotors promised the newly introduced product would enhance fertilizer and water efficiency by increasing the crop chlorophyll levels and accelerating the crop's metabolism. It helps the crops to move water quickly. Fiona Evans, US Embassy's deputy chief of mission, Kevin Mulvihill, CEO of JSH and Assebe Hailu, Jigra Chemicals' CEO, joined Sileshi Getahun, special advisor for the Ministry of Agriculture. According to Evans, Apex-10 has been proven to reduce the need for fertilizer and water while improving yields. This is especially important in the face of regional droughts, changing climates, and supply chain disruptions affecting the availability of both food and fertilizer. It is intended to support Ethiopian food security. For the past eight years, Apex 10 has been used in many African countries, such as Egypt, Ghana, Nigeria and Kenya. "It has helped increase productivity by 30pc to 40pc," said King Asomaning, a Ghanaian farmer, who attended the launching ceremony virtually. The product is a bio-simulant and soil amendment made of active, complex organic materials and peat extract. It can fertilize one hectare of land with 9.1 litres. According to Kevin, Apex 10 has been tasted in three continents: Africa, Asia & SouthAmerica. The product is currently at various stages of market penetration in 20 countries across three continents and expanding, said Kevin.


Radar

Prime Capital Joins ESX, Seeks Securities Dealership Licence

Prime Capital has secured trading membership on the Ethiopian Securities Exchange (ESX) and is pursuing a securities dealership licence to expand its brokerage and investment banking services, according to Head of Business Development and Marketing Fikremarkos. The firm received its trading membership after obtaining an investment banking licence from the Ethiopian Capital Market Authority (ECMA) and meeting all ESX requirements. The licence authorises Prime Capital to execute securities tran...


Radar

Parliament Ratifies Tax Amendment, Assigns PMO to Lead Conciliation, Imposes 10pc Penalty on Late Evidence

The Prime Minister's Office will appoint independent tax conciliators while taxpayers face a 10pc penalty for late evidence under the Federal Tax Administration Amendment ratified by Parliament last week. By shifting the selection of “conciliators” from the tax authority to the PMO, authorities aim to establish a neutral dispute-resolution system to speed up out-of-court settlements. Experts describe the move as a high-stakes reform with notable institutional risks. The legislation, pa...


Radar

ZamZam Bank Registers Shares, Eyes Capital Market Debut

ZamZam Bank has secured approval from the Ethiopian Capital Market Authority (ECMA) to register its shares, becoming the first fully interest-free bank to complete the regulatory process for public trading. The approval covers five million existing shares worth five billion Br and one million bonus shares valued at one billion Br, paving the way for the Bank's future participation in Ethiopia's capital market. ZamZam plans to raise its capital to 15 billion Br and introduce Sharia-compliant i...