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Ethio telecom's Mobile Money business, Telebirr, had 34.3 million subscribers and a total transaction value of Birr 679.2 billion in the 2022/23 fiscal year. The company generated a total revenue of Birr 75.8 billion, achieving 101% of its target. The total number of subscribers reached 72 million, an increase of 8% from the previous year. Mobile voice subscribers were 69.5 million, data and internet users were 33.9 million, and fixed broadband subscribers were 618.3K.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 18 July 2023.

The Addis Ababa Chamber of Commerce and Sectorial Associations (AACCSA) has launched the Institute of Directors (IoD) in Ethiopia. The IoD, the first of its kind in Ethiopia, seeks to advance good governance by making effective use of resources, abiding by rules and regulations, promoting openness, and developing capacity.

The Investment Commission of the Tigray Regional State's Interim Administration has announced that 55 investors with registered capital exceeding Birr 20 billion in the Tigray Region have been granted investment permits.

These permits were granted to investors engaged in socially and economically beneficial fields, primarily in agro-processing, manufacturing, construction equipment supply, tourist accommodation, and mining, from January to June 2023, according to the Development Investment Management Division of the Commission.

The licensed investors are expected to create job opportunities for 10,000 young people when they launch their production and services next year. The Commission is also conducting a survey to determine the status of over nine thousand investors who were previously engaged in investment in the region before the Tigray war.

Source: Ethiopian News Agency

The Ethiopian Agricultural Authority (EAA) and the Netherlands Centre for the Promotion of Imports (CBI) have signed a Memorandum of Understanding which aims to increase the competitiveness of Ethiopian agricultural products on the international market. CBI is an agency of the Ministry of Foreign Affairs of the Netherlands that contributes to sustainable and inclusive economic development in developing countries by expanding exports from these countries to Europe.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 17 July 2023.

The Chinese Ambassador to Ethiopia, Zhao Xiuan, revealed that Chinese companies had created 560,000 job opportunities in Ethiopia. According to the Ambassador, 1,835 direct Chinese investment projects worth USD 4.8 billion have been invested in Ethiopia.

Ethiopian coffee exporters are benefiting from the growing demand for their product in China, as more Chinese consumers develop a taste for Ethiopian coffee. Over the past decade, China's yearly coffee consumption has increased by an impressive average of over 15%, in contrast to the global coffee consumption growth rate of just 2.2%.

The National Bank of Ethiopia (NBE) and the National ID Project have agreed to roll out a Digital ID for all financial institutions. The move is part of NBE’s plan which aims to modernize the financial industry while fostering financial inclusion and preserving market stability.

Woldu Yemmesel, Director General of the Ethiopian Intellectual Property Authority, headed a delegation from Ethiopia to the Sixty-Fourth Series of Meetings of the Assemblies of the Member States of the World Intellectual Property Organization (WIPO). The meeting is being held in Geneva, Switzerland, and will be closed on July 14, 2023.