Ministry Urges Businesses Prioritise Quality

Sep 1 , 2024


[ssba-buttons]

The crucial role of exceeding consumer expectations through high-quality production in reducing import reliance and enhancing exported goods was underlined at a recent panel discussion at the Ministry of Trade & Regional Integration. The discussion underscored the need for businesses to invest in training, improve infrastructure, and prioritise customer satisfaction. The government's "Let Ethiopia Produce" initiative, launched two years ago, aims to substitute imports with locally produced goods. However, challenges such as substandard quality, limited awareness, and non-conformity to environmental standards hinder the growth of local suppliers. Minister Kassahun Goffe accentuated the importance of prioritising quality for the success of the initiative. He called on manufacturers to invest in quality control measures and meet international standards. An exhibition held last week showcased locally produced goods and encouraged consumers to support domestic businesses. The event was attended by high-level government officials, including Minister Kassahun Goffe, Tewodros Mebrat, CEO of the Ethiopian Quality Award Organisation, and Mesfin Tasew, CEO of Ethiopian Airlines who shared the Airlines' experience in providing high-quality customer service, emphasising the importance of safety, punctuality, and meeting customer expectations.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...