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.


Radar

Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Radar

Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Radar

Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...


Back
WhatsApp
Telegram
Email