Trade Ministry Pulls ECX into Contract Farming Procedures

Oct 1 , 2022

A new directive issued by officials at the Ministry of Trade & Regional Integration instructs that all cash crops produced under investment or contract farming schemes go through the Ethiopian Commodity Exchange (ECX) for weighing. Investors engaged in contract farming are compelled to weigh their cash crops at the Exchange before having them registered by the Trade Ministry and made ready for market. They retain the privilege to sell their commodities on the ECX trading floor. The ECX is mandated to validate the weight of oilseeds and cereals produced through the two schemes, conduct measurements while the commodities are still loaded on trucks, and provide the information to the Ministry. A couple of months ago, Trade officials added six commodities under the contract farming scheme, including niger seeds, groundnut and chickpeas.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...