Trade Ministry Pulls ECX into Contract Farming Procedures

Oct 1 , 2022


[ssba-buttons]

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.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...