2merkato

Ethiopia has generated over USD 1 billion from gold exports in the past five months, a record-breaking achievement, according to the Ministry of Trade and Regional Integration.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 31 December 2024.

ZamZam Bank announced a pre-tax profit of Birr 148 million for the 2023/24 fiscal year. The bank’s total income for the year exceeded Birr 850 million.

Industrial Parks Development Corporation (IPDC) has announced the transfer of over 90% of its 177 manufacturing sheds across 13 industrial parks to investors, contributing to job creation and economic growth.

South Ethiopia Regional State is gearing up to export banana products to the Middle East, announced Haliemariam Tesfaye, Head of the State’s Agricultural Bureau. Preparations are underway to supply bananas to Middle Eastern markets while also expanding exports to neighboring countries such as Sudan, Somalia, and Djibouti.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 30 December 2024.

The Documents Authentication and Registration Service (DARS) announced that it processed 443,147 cases and served 719,073 users from July to December 23, 2024, generating Birr 1.25 billion in revenue.

The Commercial Bank of Ethiopia (CBE) revealed that its total assets reached Birr 1.9 trillion. The bank’s President, Abe Sano, attributed this achievement to the macroeconomic reforms implemented across the country, which have shifted CBE from a state of existential crisis to a trajectory of robust growth.

Ethiopia’s Livestock Development Institute has announced that the country generated USD 43 million from the export of animal products over the past five months. The revenue marks a 60% increase compared to the same period last year, highlighting the growing significance of the sector in the country's foreign exchange earnings.

In the upcoming fiscal year, the National Bank of Ethiopia (NBE) is expected to revise its policy rate, commonly referred to as the National Bank Rate (NBR). The current rate, set at 15 percent, was established at the start of the fiscal year and is part of the NBE’s shift to an interest-rate-based monetary policy framework. This transition represents a significant step toward aligning with global best practices in monetary policy, aimed at improving the effectiveness of policy communication and influencing the broader economic landscape, particularly in monetary and credit markets.