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




Ministry Partners with Private Co. to Provide Improved Seeds

Mar 2 , 2024


[ssba-buttons]

Nearly 4,000 farmers in the drought and conflict-affected areas of Amhara and Tigray regional states are set to get improved seeds as German chemical manufacturing giant BASF has joined forces with SNV Netherlands Development Organisation and the Ministry of Agriculture.

Envisaged to cover nearly 371hct of land, the seeds will be delivered through SNV's extensive network of farmer field schools in 147 Weredas across the country.

Ben Depraetere, country head of BASF's vegetable seeds business in Ethiopia, highlighted the necessity to reinstate regular farming practices in the two regional states, which have faced disruptions due to escalating conflicts and prolonged drought. BASF has been operating in Ethiopia since 1966, maintaining a trade representative office in Addis Abeba to coordinate customer needs across various industry segments. Its affiliate, Nuneheim, initiated seed exports from high-tech greenhouses in Amhara Regional State three years ago.

Ben commended the success of SNV's 2,000 farmer field schools, noting a 34pc increase in yield and a 43pc rise in household income for nearly 80,000 farmers.

Julie Graham, SNV Ethiopia's country director, stressed the significance of providing seeds with extended shelf lives, disease resistance, and enhanced marketability to put forth substantial improvements in agricultural livelihoods. This collaborative effort aims to contribute to the recovery and development of the affected regions, fostering resilience in the face of challenging environmental and socio-economic conditions.


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...