Here is the daily commodity trade data from Ethiopia Commodity Exchange (ECX) for items traded on 7 June 2022.Add a comment Add a comment
RIDE’s founder and CEO Samrawit Fikru said that her company was working with its drivers to change their cars with electric vehicles. According to the CEO, the transition of the vehicles of more than 40,000 drivers of RIDE from gas powered cars into electric cars will help the economy of the country by saving foreign exchange that is used to import oil.Add a comment Add a comment
Oromia Regional State signed a memorandum of understanding with the Ministry of Mines and 20 cement producing companies to regulate the price of cement products. The signing of the memorandum of understanding aimed to curb illegal actions in the market and production of cement.Add a comment Add a comment
The Council of Ministers unanimously approved a draft budget for the 2022/2023 Ethiopian fiscal year. The budget was prepared based on the 2022 - 2026 mid-term macroeconomic and fiscal framework. The budget was sent to the Parliament for a final approval. The approved draft budget is Birr 786.61 billion and it is aimed at meeting national goals, protecting national security, assisting displaced people, and reconstructing damage infrastructure and services.Add a comment Add a comment
Ethiopia grants license to Fortescue Future Industries (FFI) for the production of green hydrogen and ammonia. Ahmed Shide, Minister of Finance, noted that the company would increase Ethiopia’s access to green energy.
Fortescue’s CEO Julie Shuttleworth, on her part, stated that Ethiopia was suitable for green energy. FFI will export green energy after it commences production.
The Australian company is building a global portfolio of renewable green hydrogen and green ammonia projects to produce 15 million tonnes per year of green hydrogen in 2030.
Source (Including Image): Fana BC
Additional Source: Fortescue Future IndustriesAdd a comment Add a comment
French Development Agency (AFD) Africa stated that France’s assistance in the ongoing economic reforms and other development agendas of Ethiopia will continue. AFD Africa’s Director Christian Yoka revealed that the Agency was supporting the economic reforms of the country which were being executed by the Government. He also noted that the officials from the Ministry of Finance held discussions with the Agency on the Government’s development priorities.Add a comment Add a comment
The Ethiopian Investment Commission announced that it was working to stimulate foreign direct investment by implementing new strategies.
The Director of Foreign Direct Investment Promotion at the Ethiopian Investment Commission Aschalew Tadesse noted that the Commission focused on supporting those investors who were interested in investing in the country. It was also reported that there were activities to implement newly formulated promotion and incentive strategies.Add a comment Add a comment