Year Kicks Off with $339m in Exports

Aug 28 , 2021


Exports continue to grow, with the last month seeing a 23pc increase in comparison to the figure from last year. Close to 340 million dollars worth of goods have been exported over the first month of the fiscal year, helping authorities to achieve over 110pc of the target for the reporting period. A quarter of a billion in export proceeds have been secured from agricultural items, including coffee, sesame and oilseeds. Industrial products and minerals brought in around 38 million dollars each. Last year, over 3.6 billion dollars was secured from the exports of goods. This is a significant improvement from the performance registered over the last decade, when export proceeds averaged nearly three billion dollars, making it the lowest source of forex for the country compared to remittance, foreign direct investment and external loans.


Radar

Ministry Ponders Tax Waivers for Rural Energy Solutions

Tax exemptions for off-grid energy technologies like solar pumps and mini-grids are under discussion, spearheaded by the Ministry of Water & Energy. Commonly used by rural households, officials disclose their simultaneous plan to develop 300 mini-grids in the next six years. According to Birhanu Weldu, the lead executive of rural energy technology development, the initiative tackles the country's low electrification rate and reliance on charcoal and firewood. Charcoal, fuel wood, and...


Radar

Rural Land Proclamation Comes to Light

A landmark legislation that grants title holders in rural areas the right to use the property as collateral was unanimously ratified by Parliament last week. It primarily focuses on extending access to finance for farmers and pastoralists, through a structured land title system. It also introduces criminal penalties for the illegal transfer of property. Replacing the 18-year-old proclamation for rural land management, the law sentences individuals engaging in land invasions and unauthoris...


Radar

Ethiopian Unveils $50m Domestic Terminal Renovation

With a rising demand for domestic travel, Ethiopian Airlines has renovated its terminal at Addis Abeba Bole International Airport with 50 million dollars to handle customers. The expanded terminal has doubled its previous size to 25,750Sqm and accommodates 200 daily flights to and from 22 domestic destinations. It includes four contact gates, 10 remote departure gates, 22 check-in counters with automated baggage screening systems, shops and restaurants. The terminal also features a dedica...


Back
WhatsApp
Telegram
Email