Kombolcha Park Registers $3m in Export Earnings

Apr 2 , 2022

Kombolcha Industrial Park generated more than three million dollars from exports since tenants there resumed operations earlier this year following stagnancy due to the militarised conflict in the country's north, according to the Industrial Parks Development Corporation (IPDC). Located in the Amhara Regional State, the Park, one of 13 under the purview of the corporation, was inoperative for over two months due to the fighting. Officials say it sustained half a billion birr' worth of damage as a result of the conflict. Its tenants resumed export activities in February 2022, producing and shipping abroad synthetic textile products mainly to markets in Europe. Officials expect its exports to generate a total of 13 million dollars this financial year. It has thus far managed 7.7 million dollars.


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...