Niger Seed Joins ECX Floor

Dec 14 , 2019

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.


Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...