2merkato

SINOMA International, a Chinese company, disclosed that it would like to explore investment opportunities in Ethiopia during a discussion with Ethiopia’s Ambassador to China, Tefera Derbew. The company is keen to engage in cement manufacturing in the country.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 10 April 2023.

Ethiopian Commodity Exchange (ECX) started trading rice digitally on April 6, 2023 by trading grade one rice entered by ECX’s Bure branch for Birr 6,400 per quintal. A total of 60 quintals of rice were traded for Birr 383,232 on the same date.

The Ministry of Labour and Skills penned an agreement with Orient International Holdings, a Chinese company, to provide training to Ethiopian professionals who are in the textile industry and prepare them for the international market.

The Commercial Bank of Ethiopia (CBE) launched an international remittance service phone application called CashGo in collaboration with Golden Coffee Roastery PLC. The app will allow customers of CBE to remit money from countries such as Canada, Israel, America, Italy, South Africa, Sweden, UAE, England, and Saudi Arabia using their mobile phones via MasterCard and Visa Card.

Kefta gave training to 20 women-owned micro and small enterprises (MSE’s) in collaboration with Care Ethiopia.

The training focused on how the enterprises could use the services of Kefta and win tenders/bids, and promote their businesses, services and products. The enterprises have access to the Kefta package thanks to the opportunity availed to them by Care Ethiopia.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 7 April 2023.

Mastercard and EthSwitch have signed a Memorandum of Understanding (MoU) to enhance the adoption and usage of digital payment systems of financial institutions. The agreement will enable Mastercard and EthSwitch to work together on enabling transfer of funds through a mobile phone application. It will also allow customers of the financial institutions to access a secured and swift transaction system.

Ethiopia saved USD 60 million by locally producing security personnel outfit. In the process of substituting imported security personnel uniforms with locally produced outfits 18 factories were involved and 18,000 job opportunities were created.

Domestic products substituted import goods worth USD 1.1 billion during the first half of the 2022/2023 fiscal year. The data of the Ministry of Industry shows that 663 manufacturing industries became operational in the first five months of the current fiscal year creating employment opportunities for 9,600 individuals.

Source: Fana BC and 2Merkato Archives

Investors totaling 3,600 with a total capital of Birr 186.4 billion were licensed during the last 10 months of the current fiscal year by Oromia Regional State. The investment projects are expected to create job opportunities for 679,700 people.