Latest Business Alerts

Ethiopian Cement Factories Request a Stop to Cement Imports

Ethiopian cement factories, Mugar and Messobo, have requested that the government halt cement imports in letters to the Ministry of Finance and Economic Development. The cement factories claimed that they can produce enough to meet local demand.

The cement factories have excess stock according to an anonymous official at Mughar. The two factories have increased their annual production by a total of 1.7 million tons following expansion projects.

Add a comment Add a comment
Read more...

Ethiopian Manufacturers Compete to Produce Standard Packaging for Flower Exports

Five Ethiopian packaging manufacturers applied for quality certification to produce the standard boxes for flower exports. The standard packaging was established by the Ethiopian Conformity Assessment Enterprise.

The five companies requiring certification for the production of the packaging are Addis Ahadu packaging plc, Balaji Packaging plc, Burayu Development plc, DA packaging plc and Ethio pulp and paper SC.

The companies have presented sample boxes manufactured according to the specifications set and which are undergoing testing by the ECAE. The ECAE is expected to announce the results of the testing in two weeks time.

Add a comment Add a comment
Read more...

Ethiopian Ministry Bans 16 Coffee Exporters

The Ethiopian Ministry of trade banned 16 coffee exporters from trading on the Ethiopian Commodity Exchange (ECX) this month. The exporters were banned for failing to have their stock audited by the ministry.  

The banned traders are said to include some known for high volumes of trade on the exchange according to MOT officials.

The Ministry of Trade sent a letter to the Ethiopian Commodity Exchange Authority prohibiting the traders from selling or buying on the trading floor for an unlimited length of time. The ban only prohibits trading in coffee and has no limits on other commodities. 

Add a comment Add a comment
Read more...

Ethiopia Launches Climate Resilient Green Economy

Ethiopia launched a green economic growth strategy estimated at 150 billion US dollars over 20 years. The program aims to develop Ethiopia into a middle income economy by 2025 without an increase in greenhouse gas emissions.

The strategy is the first of its kind to be implemented in Africa but could be duplicated in other countries said Dr. Ababa Haile-Gabriel, Director of the African Union, Rural Economy and Agriculture Department.

Add a comment Add a comment
Read more...

Ethiopian Capital to Construct Two New Water Reservoirs

The city administration of Addis Ababa is going ahead with plans to build new water dams to meet the increasing water demands of the Ethiopian capital. The dams are expected to cost an estimated 8 billion birr.

The water reservoirs are expected to incorporate water treatment plants and supply 688,500 cubic meters of water a day increasing the water supply to Addis Ababa substantially.

Add a comment Add a comment
Read more...

Exchange Rates

Selling
Buying
USD 38.2492  37.4992 
GBP 47.6142  46.6806 
EUR 45.2488  44.3616 
CHF 40.2335  39.4446 
CAD 26.2875  25.7721 
AED 9.4230  9.2382