Over 1.6B Dollars Saved Through Shift to Locally Made Income Products


Over 1.6B Dollars Saved Through Shift to Locally Made Income Products

Ethiopia has saved over 1.6 billion dollars in the fiscal year by replacing imported income-generating products with local alternatives, while small and medium enterprises (SMEs) earned 54.5 million dollars through exports during the same period. According to Ethiopian Enterprise Development, which was established in 1942, the country had 12,751 small and medium manufacturing enterprises as of June 2023. These include 8,574 small and 4,177 medium-sized businesses, owned by 26,862 entrepreneurs. Together, these enterprises generate around two billion dollars in annual income and over 33 million dollars in export revenue, producing a wide range of goods including textiles, leather products, agro-processed items, handicrafts, and minerals, helping boost foreign exchange earnings and strengthen Ethiopia’s position in global markets. CEO Kelali W. Gebriel said the institute is working with 1,451 manufacturers on a plan to save an additional 881.7 million dollars in foreign currency by further reducing reliance on imports. He added that 357 SMEs had recently exported 31,760tns of goods, generating the 54.5 million dollars in export income. The institute said it will continue working with regional stakeholders and partners to expand support for SMEs, describing them as a key driver of the country’s industrial development.

[ssba-buttons]

Radar

Deposit Insurance Fund Grows to 15.1B Br, Signals Readiness for Crisis Response

Two years into its operations, the Ethiopian Deposit Insurance Fund (EDIF) has grown its asset base to 15.1B Br, reinforcing its role as a critical backstop for depositors and financial institutions alike. The Fund, established under a proclamation by the Council of Ministers, was designed to shield depositors in the event of bank or microfinance collapses. Since its inception, EDIF has focused on collecting premiums from member institutions, investing the funds, and building a system robust...


Radar

Rockefellers 100m Dollars Leap into Regenerative Lunches

As part of the UNFSS+4 High-Level Convening, a thematic session titled "Nourishing the Future through Regenerative School Meals" was held on July 26, 2025, at the Sheraton Addis on Taitu St. It brought together prominent figures including Ethiopia's former Prime Minister Hailemariam Desalegn, former First Lady Roman Tesfaye, and Kenya's First Lady Rachel Ruto. Organised by the Rockefeller Foundation, the event focused on overhauling child nutrition through regenerative agriculture. Sarah Farl...


Radar

Hijra Bank Backs Young Innovators with Awards, Loans

Hijra Bank has awarded five young Ethiopian innovators in the final round of its “Sirara” Creative Spark Awards, selected from over 27,000 applicants. The programme targets practical innovations in agriculture, sustainability, and appropriate technology. Top winner Milkias Ahmed (PhD) received a 300,000 Br prize and a 3 million Br interest-free loan for developing an organic soil conditioner from animal bones. Second and third prizes went to Yusuf Ali and Muhammad Juhar for a crop-harvest...