Shoa Breaks Tie with Wheat Subsidy Scheme

Apr 20 , 2019


Shoa Bakery has terminated its agreement with the government to sell bread at prices set by the government. Shoa, which has 16 branches in Addis Abeba, had to abide by prices set by the government, because it was buying subsidised wheat from the government. Now that the company is buying wheat in the open market, it is free to set the price of its products. The price of 100 grams of bread at the Bakery has risen from 1.3 Br to 2.5 Br, a 92.3pc increase. The decision was made, because the wheat the government supplied is not adequate and deliveries are delayed, according to Grima Tadesse, production and technique administration officer at the Bakery. “A baking machine (oven) worth 40 million Br has been forced to sit idle because of problems in supply,” he added. The government respects the company’s decision, as Shoa has discovered that buying from the market is more profitable for its business, stated the Ministry of Trade and Industry Communications Director Wondimu Filate.


Radar

Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


Radar

AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Radar

Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...


Back
WhatsApp
Telegram
Email