Trade Ministry Targets Five Billion Dollar Export Revenue


[ssba-buttons]

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.


Radar

New Directive Tightens Rules for Foreign Employment Agencies

The Ministry of Labour & Skills has issued a directive under the Ethiopian foreign employment framework, setting clear standards for agency size, capital, and operations. Depending on their level, newly established agencies can serve between 10 and over 100 workers a day. Office space requirements range from 100sqm to 700sqm, tied to operational scale. Level-one agencies must hold a paid-up capital of 20 million Br and place a security deposit of 250,000 dollars or its birr equivalent...


Radar

Audit Findings Expose Deepening Gaps in Accountability

A new study reveals that audit irregularities in Ethiopia have continued to rise year after year, driven by weak enforcement and unresolved legacy problems. The finding, commissioned by the Office of the Federal Auditor General (OFAG) and conducted by independent researchers from Addis Abeba University, examined audit reports covering 2009–2023. The study attributes the persistent irregularities to limited accountability, poor follow-up, and reduced audit coverage during political transitio...


Radar

Africa Maritime Conference Sets Sights on Seafaring Innovation

The Ministry of Transport & Logistics has launched the first-ever Africa Maritime Conference, marking a bold move to position landlocked Ethiopia as a continental hub for seafaring innovation at a time of global talent shortages. At a pre-conference briefing, Frans Joubert, CEO of YCF Manning Ltd, underscored Africa's untapped potential in the maritime sector. Of the 1.9 million seafarers worldwide, only four percent are African—despite the continent hosting around 150 maritime academie...