2merkato

The Ethiopian Sugar Corporation announced plans to raise national sugar production from 300 thousand to 2.25 million tonnes annually. The corporation has begun extensive efforts towards increased sugar production according to Yilma Tibebu Corporation Public Head.

Expansion projects have begun at Metehara, Wonji Shoa, Methera sugar factories to increase sugar production according to Yilma. The increase in production hopes to meet demands for sugar in the local market as well increasing exports to the global market.

The Ethiopian Textile Industry Development Institute announced that it has earned 27.2 Million US dollars from textile exports. The Institute earned this revenue in the first quarter of the current fiscal year.

The revenue is 87% more than the target set for this period according to a press statement made by the Institute. The revenue is also 18.6 million US dollars more than the amount earned in the same period last fiscal year.

Eyesuswork Zafu has retired from his 17 year tenure as Chief executive Officer of United Insurance. The CEO hass been seeking retirement for the last three years. 

The shareholders and the board of the insurance have decided the former CEO will continue on with the company in the capacity of an advisor.

Coffee exporters found in breach of the hoarding directive have been banned by the Ministry of Trade. Exporters found with stored Coffee in excess of the levels established in the directive will be severely punished according to Yacob Yala State Minister of Trade.

The Ministry of Trade has decided to place a ban on an estimated 50-55 exporters for failing to comply with the directive or for forging contractual agreement according to sources. This list includes many significant coffee exporters said the sources.