Afar Gets Iodized Salt Plant

Aug 24 , 2019


[ssba-buttons]

An iodized salt plant built by Ethiopian and Turkish investors for 14.7 million dollars was inaugurated in Semera, Afar Regional State on August 19, 2019. About 66pc of the construction cost of the plant was covered by Ethiopians and the remaining 33.4pc was covered by Turkish Investors. The plant, which has a capacity to produce 450,000ql of iodized salt a month, will create 700 permanent and 200 temporary jobs. Construction of another plant, which has a capacity to produce 750,000ql a month, is also underway in Afdera, also in the Afar Regional State, with an investment of 31 million dollars. The plant is expected to commence production after six months and create 1,400 jobs. The major players in Afar Regional State’s salt processing market are Afar Salt Production, Dobby and SVS.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...