Trade Ministry Targets Five Billion Dollar Export Revenue


The Ministry of Trade & Regional Integration has laid out a target of five billion dollars in export revenue for the coming new year in a bid to reel back the lacklustre performance of the ending budget year. Urgessa Baysa, head of Strategic Affairs at the Ministry, indicated that shifts in the management structure, stronger domestic trade linkages and export promotion will help meet the lofty target, which is 1.8 billion dollars higher than the amount attained this year. A sharp decline in the global price of coffee was indicated as the primary culprit by the Ministry's officials as they presented their 11-month report in June, while the flagship commodity still contributed 53pc of the 3.2 billion dollar amount. The price of coffee has been on a worldwide market dive, with a 43pc drop occurring within the past month as Brazil rebounds from a supply slump caused by climate hazards. Coffee exporters have expressed anxiety over the sudden dip in prices, with the Ethiopian Coffee Exporters Association dispatching a letter imploring its members to dispose of their inventory as quickly as possible.


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Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement an...


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Central Bank Keeps Lending Lid Tight as Inflation Squeezes Economy

The Central Bank has reaffirmed its decision to maintain an 18pc cap on credit growth, reinforcing a commitment to tighter monetary policy during persistent inflation and economic uncertainty. The National Bank of Ethiopia's (NBE) monetary policy committee cited ongoing concerns over inflation, which stood at 19.9pc year-on-year (YoY), and liquidity imbalances as reasons to uphold the restriction on lending. Bankers and analysts interpret this move as evidence of regulators' determination to...


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Ethio Telecom Expands Services with DStv Streaming

Ethio telecom enters the entertainment pool with bundled DStv streaming services through high-speed broadband internet and mobile data packages. The partnership with MultiChoice Ethiopia aspires to merge the telecom's fiber broadband and mobile network with DStv's content. Subscribers can access DStv channels through mobile data or fiber broadband bundles, with discounts of up to 35pc through Telebirr or My Ethiotel (*999#) and up to 26.5pc at sales centers for fiber broadband bundles. Acc...