2merkato

Ethiopian Coffee and Tea Authority announced that Ethiopia gained USD 702 million in the past seven months by exporting 126,649 tons of coffee. The revenue is short of USD 165 from the initial target which aimed to collect USD 867 million from 181,323 tons of coffee export.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 24 February 2023.

Ethiopian Commodity Exchange (ECX) and Hijra Bank signed an agreement to partner on payment service systems. Hijra has become ECX’s 20th payment system partner. ECX is working to create modern and reliable payment system with a view to building a swift and advanced payment system. It also aims to make the payment system more accessible to traders including farmers, sellers, and buyers.

The Ethiopian Investment Commission and East African Holding have reached an agreement on an industrial park which will be built by East African in Bishoftu. The parties signed the agreement on February 24, 2023.

Shacman Group and BEAEKA General Business PLC collaborate to assemble heavy machineries and vehicles in Ethiopia. Based on the implementation agreement signed between the two companies, 1,500 heavy trucks including cassoni, lobed, sewage cargo vehicle, and hybed will be assembled within a year during the first implementation phase while 3,000 vehicles will be assembled annually when the second implementation phase commences.

Ethiopian Airlines, the largest network operating carrier in Africa, announced in a press release sent to 2merkato.com the resumption of its direct flights between Abidjan and New York John F. Kennedy Airport. The flights will resume as of 29 May 2023. Ethiopian first started serving New York from its main hub Addis Ababa via Abidjan in June 2019. However, the route was suspended in March 2020 due to COVID-19. Later, the flight resumed serving New York via Lomé starting in October 2020.

Debre Birhan city announced that it was working to enable 24 industries start production within the second half of the current fiscal year. The city made the same announcement in November last year.

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

Ethiopian Capital Market Authority (ECMA) announced that it was finalizing preparations to launch the Ethiopian Capital Market. The Authority has already issued 8 draft regulations and directives on the capital market for public consultation. It is also drafting other directives which will be enacted in the near future.

The first half of the current fiscal year saw the registration of 189,698 vehicles on Telebirr. According to the announcement of the Ministry of Trade and Regional Integration (MoTRI), the vehicles were registered on the digital cash platform to access fuel subsidies after the Government began implementing fuel supply reform measures and the Ministry and Ethio Telecom signed a memorandum of understanding.