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Ethiopia penned a trade agreement with Pakistan with a view to strengthening its trade relationship with the Asian country. Kassahun Gofe, State Minister of the Ministry of Trade and Regional Integration, said, “I strongly believe that the signing of this trade agreement is a good platform to establish a joint trade committee meeting and consult on measures that ensure the development of the two countries and reduce trade barriers”.

A delegation of Chamber of Commerce of Djibouti led by the Chamber’s President Yesuf Mussa Dewaleh is in Ethiopia to strengthen trade and investment relations between Djibouti and Ethiopia. The delegation visited Kilinto and Bole Lemi Industrial Parks.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 14 February 2023.

Ethiopian Cargo & Logistics Services, Africa’s largest network operator, has started two weekly freighter flights today connecting Xiamen with São Paulo and Santiago via Addis Ababa. Ethiopian also plans to commence two weekly freighter flights between Shenzhen and Liège as of February 17, 2023. Ethiopian will deploy B777 Freighter on the new cargo routes.

The sixth Africa Business Forum will be held in Addis Ababa on February 20, 2023, under the theme “Making Carbon Markets Work for Africa”. It is expected that African political leaders, representatives of the African Union Commission, private sector companies interested in the development of carbon markets, civil society organizations, international finance organizations, and development partners will participate in the forum.

Ethiopia is prepared to ink agreements which total USD 200 million to supply wheat to non-governmental organizations including the World Food Program. Agreements to sell 3 million quintals of wheat have already been signed with six countries including Kenya and Sudan.

The Ministry of Trade and Regional Integration announced that Ethiopia was able to gain USD 1.75 billion from exports during the first half of the 2022/2023 fiscal year.

Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 13 February 2023.

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

Somali Micro Finance, which is known for its mobile finance service called Hello Cash, transforms into a bank named Shabelle. The bank is formed with a capital of more than Birr 500 million.

Somali Micro Finance was established in 2011. It is the third micro finance institution in Ethiopia to evolve into a bank following Oromia Credit and Saving Institution and Amhara Credit and Saving Institution. Shabelle Bank conducts all its operations under the principles of Islamic Banking.

Source: Fana BC

Additional source: Shebelle Bank