FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Ethiopia's Wheat Dream Soars with $83m Boost

Aug 5 , 2023


[ssba-buttons]

A grant that aims to scale up the capacity of smallholder wheat farmers for the next five years is underway with projects focused on climate, finance, production and market linkages. The African Development Fund indited the 84.3 million dollar agreement with Ahmed Shide, minister of Finance and Abdul Kamara, deputy director general of East African Region at ADB last week. Nearly 52.1 million quintals of wheat were harvested from 1.6 million hectares of land during the Meher season, falling significantly short of the country’s annual demand of 97 million quintals. According to the announcement made by the Ministry, the project envelops climate smart wheat production, market linkage infrastructure and agri-finance project coordination and management. The grant incorporates 54 million dollars from the ADF and 20 million dollars from the government of the Netherlands with the remaining 10.3 million dollars coming from the African OCP and Global Center for Adaptation (GCA).


Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...