Films Review | Mar 14,2020
Fist bumps were in order late last week between Eyob Takalign (PhD) (left), state minister for Finance, and Takele Uma, minister of Mines & Petroleum and head of the institution that oversees the mining sector, which has been a boom for federal treasuries over the past year. The occasion was the renovation of the Ministry’s headquarters in the neighbourhood commonly known as Wessen, as part of a revamping of federal agencies.
Takele gave a tour of the headquarters to members of the media and federal officials, including Motuma Mekassa (centre), former minister of Mines & Petroleum. The occasion was rounded off with recognition for the federal agency employees and blood donation by Takele for the National Defense Forces, a familiar sight these days, mainly by government officials.
The Ministry also released a sector report, showing a surprisingly impressive performance over the past two years. While mining remains heavily traditional and inefficient, with artisanal workers accounting for nearly all mined gold, the government has succeeded in formalising part of it. Within two years, exports from mining grew by around 2,000pc to account for a sixth of the 3.6 billion dollars in export revenues. In the first month of this fiscal year, the sector secured 38.5 million dollars, a third higher than the 29 million dollars from mining for the entirety of 2019.
The Ministry would like to see this success replicated and more. The strategies it has identified are facilitating a market for mining products on the Ethiopian Commodities Exchange (ECX) and developing industrial mining. The major roadblocks are the civil war in the north, particularly in Tigray Regional State, one of three top gold producers, and alarming levels of political instability across the country. Poor infrastructure and stubborn levels of informality are not helping either.
PUBLISHED ON
Sep 02,2021 [ VOL
22 , NO
1114]
Films Review | Mar 14,2020
Radar | Jul 24,2021
Viewpoints | Dec 19,2021
Fortune News | Jul 24,2021
Commentaries | May 23,2021
View From Arada | May 21,2022
Obituary | Feb 19,2022
Radar | May 07,2022
Commentaries | May 21,2022
Radar | Nov 27,2021
Dec 22 , 2024 . By TIZITA SHEWAFERAW
Charged with transforming colossal state-owned enterprises into modern and competitiv...
Aug 18 , 2024 . By AKSAH ITALO
Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...
Jul 28 , 2024 . By TIZITA SHEWAFERAW
Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently swit...
Jul 13 , 2024 . By AKSAH ITALO
Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...
Jan 25 , 2025
Grand ambitions have long driven Ethiopia's successive leaders, but they remain weigh...
Jan 18 , 2025
Adanech Abebie, the mayor of Addis Abeba, addressed last week a warm-up session for h...
A severe cash shortage squeezes the economy, and the deposit-to-loan ratio has slumpe...
Jan 4 , 2025
Time seldom passes without prompting reflection, and the dawn of 2025 should nudge Et...
Loading your updates...