New Report Shows Slight Improvement in Logistics Efficiency

Jul 11 , 2021


The Logistic Transformation Office under the Ministry of Transport has released its annual transformation performance review, showing that the country's logistics sector has improved slightly. In the self-assessment report, the efficiency of customs clearance services was found to be the best performer while institutional responsiveness and timeliness in trade logistics were identified as the weakest links. The performance review considers efficiency in customs clearance, tracking and tracing, timeliness, logistics competence, quality of infrastructure, and competitive shipping prices. In the World Bank's 2016 logistics performance index, which is published every other year, Ethiopia was ranked 126 out of 167 countries with an average score of 2.38. The 2020 assessment report, which was conducted by an independent consultant, pegged the country's performance at 2.51, a slight improvement.


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Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


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Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


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Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


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