Ministry Inaugurates Airport Duty Free Shop

The opining of the duty-free shop aims at promoting Ethiopian leather products and boosting export earnings from the sector.


Ministry Inaugurates Airport Duty Free Shop

The Ministry of Industry (Mo) officially inaugurated a duty-free store that displays leather products inside Bole International Airport terminal. In the past two months, the store sold leather products valued at 200,000 dollars. The management of Ethiopian Airlines Group availed 200sqm area at the airport’s terminal for the duty-free shop while Japan International Cooperation Agency (JICA) provided financial and technical support. The opining of the duty-free shop aims at promoting Ethiopian leather products and boosting export earnings from the sector. The leather industry has so far not managed to maximize its gains by manufacturing value-added products although the country possesses the largest livestock population on the continent with over 123 million heads of cattle, sheep, and goats. The scarcity of foreign currency gravely affected the industry's export earnings; generating close to 40 million dollars last year. The export revenue from the leather sector accounts for less than one percent of the annual export revenue. Last year, the country earned 4.1 billion dollars from the export sector, 14pc higher than the previous year’s earnings.

[ssba-buttons]

Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...