Ministry Inks a $28m Deal to Boost Textile Industry


Ministry Inks a $28m Deal to Boost Textile Industry

A 28-million-dollar project to advance the textile and garments industry was signed between the Ministry of Finance and the United Nations Industrial Development Organisation (UNIDO) last week. The project is financed by the Global Environmental Facility (GEF) with UNIDO contributing three million dollars. It will be implemented in the next five years under the Ethiopian Textile Industries Development Institute, through the introduction of resource-efficient technologies. Recycling waste within the industry to minimise losses in the production process is an area of focus while the initiative aims to boost regulatory and institutional capacity within the sector. UNIDO has been actively engaged in Ethiopia's industrial development efforts, particularly in textile, leather, and agro-processing manufacturing with its flagship Program for Capacity Partnership project aiming to strengthen value chains, create value additions and drive economic transition efforts. According to Semereta Sewasew, state minister for Finance, the initiative aligns with the government's ongoing efforts to boost the manufacturing sector and reduce import dependency.


Radar

Parliament Reviews Bill Allowing Foreign Property Ownership

A draft proclamation that would allow foreigners to own or occupy immovable property in Ethiopia has been submitted to parliament by the Council of Ministers. Designed to attract foreign investment, the draft law plans to ensure that Ethiopian citizens retain their right to land ownership and use. According to a statement from the Prime Minister's Office, the draft was among six agenda items discussed and approved during the Council's regular session held on May 2, 2025. The proclamation is e...


Radar

Speeding in the Spotlight as New Safety Drive Begins

The Road Safety and Insurance Fund Service has stated that drivers are responsible for 68 percent of traffic accidents in Ethiopia, with the remainder mainly caused by pedestrians and road conditions. On this topic, the service launched a one-month mass media campaign on last week focused on raising awareness about speeding, the leading cause of traffic accidents. The campaign, under the motto "Slow Down, Speeding Ruins Lives," plans to shed light on the dangers of speeding. Yohannes Lemma, E...


Radar

Askari Metals Secures Five Gold Licenses in Untapped Adola Belt

Askari Metals has acquired 100pc of Rift Valley Metals, gaining five gold exploration licences covering 460sqkm in Ethiopia's Adola Greenstone Belt, part of the southern Arabian-Nubian Shield, a mineral-rich but underexplored region. "The exploration areas—Sakaro, Sakaro West, Lega Dembi South, Megado, and Wayu Boda—lie near Ethiopia's top gold mines, including Lega Dembi and Sakaro, which have produced over three million ounces of gold. The area is known for orogenic gold systems hosted...