Niger Seed Joins ECX Floor

Dec 14 , 2019


[ssba-buttons]

Niger seed joins the trading floor of the Ethiopia Commodity Exchange (ECX) as the 10th agricultural commodity. Eight of the ECX's branches, Addis Abeba, Saris, Bure, Nekemte, Gonder, Kombolcha, Assosa and Pawi are ready to receive Niger seed, according to a statement from the ECX. "The addition of Niger Seed in the modern trading system can help to reduce the illegal transactions and foster the country’s export trade," reads a statement from the ECX. In November the ECX traded 60,825tn of commodities worth 2.8 billion Br. From the traded commodities, sesame took the lion's share in volume, accounting for 29,300tn, followed by coffee with 21,704tn. Green mung beans, white pea beans and soya beans were next in line with 5,428tn, 3,310tn and 1,083tn, respectively.


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...