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Hibert Bank and ZamZam Bank signed a Memorandum of Understanding at Hibert Bank’s Head Office to strengthen strategic partnership between the two banks.

During the last nine months of the Ethiopian Fiscal Year, Ethiopia has witnessed a significant increase in digital payments, with transactions exceeding Birr 1.2 trillion, according to Fitsum Aseffa, the Minister of Planning and Development. The amount transferred through digital payment in nine months has increased by 169 percent compared to the previous fiscal year.

Ethiopia is set to issue an international tender in June to license a third telecom operator. The Ethiopian Communication Authority’s (ECA) Director-General, Balcha Reba, confirmed that the Authority was finalizing preparations to award the license. Balcha noted that promotional activities had been carried out to attract companies to explore opportunities in Ethiopia, and the introduction of various incentives and the revision of investment laws had increased investor interest.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 23 May 2023.

Huajian Group, a Chinese footwear company, revealed its plans to expand its investment in Ethiopia and establish the country as a major manufacturing hub in Eastern Africa.

Ethiopia amassed USD 3.06 billion from the tourism sector in the past nine months. During the aforementioned period, more than 774,000 foreign tourists visited Ethiopia.

Kim Young-han, CEO of Jeju Coffee Farm who is renowned as the "Coffee Virtuoso" of Jeju Island, has expressed interest in expanding research on Ethiopia's coffee beans. He aims to add value to the beans by producing beverages like "wine" and creating cosmetics from them.

Ethiopia earned USD 550 million between July and March of the current fiscal year from the export of horticultural products.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 22 May 2023.

Domestic products substituted import goods worth USD 1.9 billion during the past nine months of the fiscal year. Commenting on the achievement, the Ministry of Agriculture, the Ministry of Revenues, and the Ministry of Industry stated that they would be able to achieve their plan for the current fiscal year.