Commentaries | May 21,2022
On the eve of the Ethiopian Christmas (Genna), January 6, 2020, a Suzuki truck stood at the entrance of Shola Market with a vendor shouting at the top of his lungs about merchandise with a special discount. The truck was stocked full of chickens, each going for the price of 200 Br and brought straight from the Wolaita Zone of Southern Regional State.
His friend stayed in the truck with the chickens in order to fetch one whenever a customer approached. But the day was long, and business was slow. He spent it in the truck’s shade from the sun, idling on his phone.
It was not a different story inside the market or in many of the others across the city. Holidays, once characterised by commotion, were for Genna more silent and slow.
"There would be no time to stand around and talk about how there's no business," said one vendor in Mercato, surprised that he was not haggling with customers on an Ethiopian holiday.
Even the livestock and dairy markets were largely depressed. Sheep sold for a little over 3,000 Br; chicken could be bought for as low as 170 Br; and eggs stayed around six Birr each.
That prices for goods were not on the increase, especially after the New Year Holiday four months ago, would be a good thing under normal circumstances. Part of it may be explained with lack of hoarding, price hiking and early distribution of items to consumer cooperative unions, according to the Addis Abeba Trade Bureau.
But experts worry that this is not the case. It is not that supply has improved, as the activities in markets portend, it is a depression in aggregate demand.
The main exhibit is headline inflation, which stood at 18.2pc, though it was 0.8 percentage points lower than the month before. Coupled with a currency fast depreciating over the past year – the Birr lost a third of its value against a basket of major currencies – there is a dampened demand.
"The air is dead," is how the vendor, who brought chickens from Wolaita, summed up the Genna market.
You can read the full story here
PUBLISHED ON
Jan 09,2021 [ VOL
21 , NO
1080]
Commentaries | May 21,2022
Fortune News | Jul 11,2021
Fortune News | Dec 19,2021
Radar | Sep 10,2021
Radar | Aug 28,2021
Featured | Oct 02,2021
Fortune News | Oct 23,2021
Fortune News | Jul 11,2021
Radar | Sep 10,2021
Sponsored Contents | Apr 04,2022
Dec 22 , 2024 . By TIZITA SHEWAFERAW
Charged with transforming colossal state-owned enterprises into modern and competitiv...
Aug 18 , 2024 . By AKSAH ITALO
Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...
Jul 28 , 2024 . By TIZITA SHEWAFERAW
Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently swit...
Jul 13 , 2024 . By AKSAH ITALO
Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...
Sep 13 , 2025
At its launch in Nairobi two years ago, the Africa Climate Summit was billed as the f...
Sep 6 , 2025
The dawn of a new year is more than a simple turning of the calendar. It is a moment...
Aug 30 , 2025
For Germans, Otto von Bismarck is first remembered as the architect of a unified nati...
Aug 23 , 2025
Banks have a new obsession. After decades chasing deposits and, more recently, digita...
Loading your updates...