Zeleke Temesgen Assumes EIC Commissioner Role


Zeleke Temesgen Assumes EIC Commissioner Role

Zeleke Temesgen (PhD) has been appointed as the new commissioner of the Ethiopian Investment Commission (EIC) after previously serving as deputy commissioner. His predecessor, Hanna Arayaselassie, who also formerly led Ethio Post, was appointed as the new minister of Justice. Hanna navigated through different investment reforms in her brief tenure at the commission with the most notable being the opening of trade sectors, including export, import, wholesale and retail to foreign nationals. The new directive allowed foreign investors to participate in the trade of key commodities such as raw coffee, khat, oilseeds, pulses, hides and skins, forest products, and livestock. A few months ago, EIC announced over 3.8 billion dollars in foreign direct investment (FDI) in the past fiscal year, an 11.5pc growth year-on-year. The Commission unveiled a two-year strategic plan to improve logistics operations and rolled out competitive incentives to attract foreign investments. Prime Minister Abiy Ahmed (PhD) made a change to his cabinet two weeks ago, including the appointment of Gedion Timotheos (PhD), Hanna's spouse, as the new minister of Foreign Affairs. This appointment fills the vacancy created by the inauguration of former Minister Taye Asqeselassie as the country's president earlier this month.


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Coffee Exports Bring in $1.5B in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


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Central Bank Holds Fourth Exchange Auction

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City Registers 64,075 Births in Fiscal Year

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