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Oct 31 , 2022

Industrial Park Corp Changes Guard

It was a notable couple of years for Sandokan Debebe, serving as the head of the Industrial Parks Development Corporation (IPDC). Last week, he stepped on the ladder as the State Minister for Planning & Development. Having a background in food science and nutrition, Sandokan feels he leaves b...

May 27 , 2023

HEFTY GREEN

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 a staggering six billion seedlings were planted during the year, bringing the total number planted...


May 27 , 2023

DAMP DENIMS

Residents of communal houses around the Weji area hang their clothes on the fences outside. Textile manufacturing accounts for 87pc of Ethiopia's products from industrial parks. Expulsion from the African Growth & Opportunity Act (AGOA) due to the war in the North resulted in Ethiopia being expelled from the preferential trade act. Most companies choosing to rent sheds within the industrial parks do so out of a desire to access the duty-free privileges provided for African countries. Ethiopia's expulsion has resulted in a 24pc decline in the exports from the industrial parks this year. The...


May 27 , 2023

PRICY PLEASURES

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 foreign currency access has become its modus operandi. The Finance Minister, Ahmed Shide, recently i...

May 27 , 2023

Climate Change Conference Stipulates Resillience

A conference focused on agro-innovation to improve the livelihoods of smallholder farmers in the face of a changing climate was held last week. The discussion focussed on integrating digital agricultural data with climate information services to give out better forecasts amidst a climate crisis. The project has provided support to 240,032 individuals, of which 35pc are women. According to Dawit Solomon (PhD), the program leader for the AICCRA project in East and Southern Africa,  AICCRA's quality of products, tools, and services exceeded the 75pc target, demonstrating its commitment to...

May 27 , 2023

Ministry Endeavours to Privatise Sugar Enterprises

In an effort to privatise the eight sugar enterprises, interested bidders were invited to submit proposals By the Ministry of Finance and Ethiopian Investment Holdings. The enterprises up for grabs which were hitherto managed by the Holding are Omo Kuraz 1, 2, 3, 5, Kesem, Arjo Dedesa, Tanabeles, and Tendaho. Officials believe issuing a Request for Proposal (RFP) will demonstrate the government's commitment to a competitive and liberalised market structure. The RFP comprehends bid submission procedures, detailed information about the manner of assessments, the scope of privatisation, and e...


May 27 , 2023

Ukrainian Foreign Policy Eyes Africa

A bilateral Trade Commission between Ethiopia and Ukraine may see the light of day, Ukrainian Foreign Minister Dmytro Kuleba revealed.  He met Prime Minister Abiy Ahmed last week with the aim of lobbying for "mutual respect, interest and benefit". He cited pharmaceutical advancements, agricultural products, digital infrastructure and cyber security as areas of strength Ethiopia could benefit from Ukraine. The Minister is the first diplomat from Ukraine to visit Ethiopia. He said the current administration led by Volodymyr Zelenskyy wished to "reinvigorate" a relationship citing that...

May 27 , 2023

French Funded GI Project to Boost the County's Exports

A brand creation based on geographical indication aimed at boosting export earnings was availed to stakeholders last week. Geographical Indication (GI) is a 400,000 euros project funded by the Agence Francaise de Development fund. The project is expected to focus on Origin-linked Products in Ethiopia (GOPE), particularly coffee which accounted for 43.7pc of exports this year. The project will be part of the GI support fund totalling 6.3 million euros in 11 African countries. The Head of the Ethiopian Coffee & Tea Authority, Adugna Debela (PhD), believes that GIs coupled with more fun...


Radar

May 27 , 2023

University Autonomy Proclamation Endorsed by Parliament

The autonomy of universities which was a hot topic amongst Parliamentarians for months was ratified with only four opposing votes and 13 abstentions last week. With Addis Abeba University leading t...

May 27 , 2023

Digital Transactions to Repose the Construction Industry

The groundwork to digitise cement transactions is underway by the Ministry of Trade & Regional Integration (MoTRI) as officials revealed their intentions to create a favourable environment in the...

May 20 , 2023

Coffee Export Revenue on a Downward Trajectory

Export earnings from coffee have declined by close to 32pc from last year, with exporters unable to keep up with the loss and looking to turn a corner. According to the statement from Sofia Kassa ...

May 20 , 2023

Ministerial Forum Cites Stymies of Construction Investment

Hundreds of international and local exhibitors, 600 industry players and 19,0000 visitors gathered to attend the three-day Exhibition held at the Millennium Hall last week. A ministerial forum betw...

May 20 , 2023

Geographical Indicators Promising Brand Recognition

A sign used on products with a specific geographical origin that translates to qualities or a reputation was presented as a viable tool for enhancing brand recognition and garnering higher profit for...

May 20 , 2023

Ahadu Bank Enter the Digital Financing Market

Ahadu Bank partners with financial technology service providers to develop digital payment gateways. The Bank sealed a partnership agreement with Chapa and Trusted Tech financial technology compani...

May 20 , 2023

Tech Innovation Competition Comes to Life

A project that aims to energise the business community launched a competition to spotlight young startups with innovative ideas last week. It strives to register over 1,800 people from Addis Abeba...

May 20 , 2023

Veteran, Novice Financial Institutions Forge Alliance

An alliance that aims to transfer knowledge and enhance domestic capacity in fintech was made between Hibret and ZamZam banks. According to Melaku Kebede, president of Hibret Bank, such kind of par...

May 13 , 2023

Ethipia Strives to Liberalise Continental Air Transport Market

Africa accounts for one percent of the global air service market, despite 23 years since the Yamoussoukro Decision that called for full liberalization of intra-African air transport services regarding...

May 13 , 2023

Telebirr Surpasses 1b Br Mark in Digital Fuel Payment

Over one billion Birr fuel transactions have been made through Telebirr since the mandatory cashless transaction began two weeks ago. The Ministry of Trade & Regional Integration has announced...

May 13 , 2023

UNOCHA Suspends Food Aid Distribution Pending Invesigations

A temporary pause of food dispatch and distributions in the Tigray Regional State has been decided in response to the reports of its diversion to the local market, according to the United Nations Offi...

May 13 , 2023

Suspected Outbreak Grips Afar Regional State

Over 1,000 suspected Dengue cases in Mile and Adar towns of Afar Regional State have been estimated in late April. Emerging phenomena in the region include a Dengue Fever outbreak, which requires a...

May 13 , 2023

Industry Players Counter the Chambers' Proposed Reform

The national and city chambers and sectoral associations pleaded their case on the proposed amendment of the bill for their re-establishment which has been in the making for the past three years. T...

May 13 , 2023

Transport Associations Bewildered Amid Reestablishment

Reestablishing transport associations under commercial entities has created confusion among the associations over the implementation. The Ministry of Transport & Logistics put forth a proclamat...

May 6 , 2023

KALEIDOSCOPIC POLAROIDS

Youth draped in colourful embroidery marched the streets of the Arat Kilo area during Patriots' Day celebrations. The day commemorates the victory of Ethiopians over Italian forces for the second time...

May 6 , 2023

WHO Director Declares Covid-19 a Non-Emergency Threat

The Covid-19 pandemic is no longer a global emergency threat, according to Tewodros Adhanom (PhD), director general of the World Health Organization. The director, however, warned countries not to...


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Banks Ride the Waves of Change Grappling with Growth, Risk


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Banks Ride the Waves of Change Grappling with Growth, Risk

Tauted as a somnolent giant, Ethiopia's financial scene now stirs, roused by favourable de...

Editorial | May 27 , 2023

Persistent Price Increase Strangles Holiday Consumers

Abdulkarim Murad, 23, vehemently bargains the price of sandals with the vibrant vendor tha...

Featured | Apr 22 , 2023 . By BEMNET TAFESSE

Moving Woes

In the bustling streets of Addis Abeba, an undercurrent of unease shadows the necessary ac...

Agenda | May 27 , 2023 . By BEMNET TAFESSE

ZEMEN'S SKYWARD AMBITION

In a triumph over the trials of the pandemic, a rising tide of construction costs and infl...

Fortune News | May 27 , 2023