2merkato

An International Monetary Fund (IMF) team and Ethiopian authorities have reached a staff-level agreement on the first review of Ethiopia’s four-year USD 3.4 billion Extended Credit Facility (ECF) program. Upon approval by the IMF Executive Board, Ethiopia will gain access to USD 345 million in financing.

The Ministry of Mines (MoM) announced that the construction of three gold mining factories was progressing rapidly, with the aim of generating USD 800 million from the sector this fiscal year.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 26 September 2024.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 25 September 2024.

Ethio Telecom officially launched its "Copper Switch-Off Initiative," which aims to migrate 100,000 customers from the existing copper network to high-speed fiber optic infrastructure by the end of this fiscal year.

Kenya’s electricity imports from neighboring Ethiopia have surged by 88% in the first half of 2024, according to a report released by the Kenya National Bureau of Statistics (KNBS). This increase marks a major shift in Kenya’s energy import strategy as the country seeks to meet rising electricity demand.

The Ministry of Mines has announced that the third MINTEX Mining and Technology Expo will be held in Addis Ababa at the Millennium Hall from November 23-26, 2024. The four-day event will bring together international companies and stakeholders in the mining and technology sectors.

Zemen Bank has announced that it successfully mobilized over USD 500 million in foreign currency during the last fiscal year. This accomplishment marks a significant milestone for the bank, which has been serving the Ethiopian market for 16 years.

Ethiopia's tea industry has experienced a growth spurt in the 2023/24 fiscal year, with exports exceeding 1,142 tons and generating over USD 2 million in revenue. This represents a substantial increase of 292 tons compared to the previous year.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 24 September 2024.