Policy Bank Allows Machine Rentals

The Development Bank of Ethiopia lifted the ban on the rental of leased farm machinery to third parties for agricultural mechanisation. The system enables borrowers to own the machines when they complete paying the loan. But borrowers have not been allowed to rent the machines to a third party before. “This procedure is now changed,” said Teshome Alemayehu, vice president of the Small & Medium Enterprises Financing at DBE. “In order to boost the agriculture mechanization, the Bank lifted the ban.” Currently, the borrowers are mainly farmers unions. “The bank facilitates lease financing for individuals who want to rent or buy the machines,” said Teshome. “We have full capacity to deliver service to those who want the lease finances.”



Street vendors around the Shola area take a rest in the shades of the capital's newly planted trees. Upon reporting on its 10-month performance before Parliament, the Agriculture Minister, Girma Amentie indicated that up to 43pc of the arable land in the country has been rendered acidic. This requires large amounts of limestone to be imported from abroad; the tight forex crunch has not allowed the Ministry of Finance to fund the endeavour easily. Following the rallying call of the Prime Minister...



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Vendors put traditional beauty products from the Somali Regional State for sale around Mexico area. In November of last year, the Ministry of Finance banned imported goods under 38 categories, including cosmetics, packed foods, and furniture, from accessing letters of credit. The move resulted in the tripling of costs for cosmetic items like lipstick and nail polish. As Ethiopia ran a 14 billion dollar merchandise trade deficit last year due to import bills hiking by 26pc , a tight clampdown on...