The Ethiopian Ministry of Industry launched its second phase private-sector capacity building project through the Ethiopian Competitiveness Facility (ECF). The project is have 4 million pounds budget financed by the UK Department for International Development (DFID).
Ethiopia's Ministry of Labor and Social Affairs has amended its directive to increase the minimum wage paid to Ethiopians traveling to the Middle East for job. The directive has increased minimum wage from 180 U.S dollars to USD 250.
Many Ethiopians travel to the Middle East for a meager salary of USD 180 to provide unskilled labor services, while Indonesian and Filipino domestic workers wage ranges from USD 450 to USD 500 with more favorable working conditions.
Amole, Ethiopia’s largest mobile eWallet platform, and Visa (NYSE: V), the global leader in digital payments, announced a strategic partnership and the launch of the Amole eCommerce Gateway, using Visa CyberSource infrastructure which supports digital payments for merchants and banks. Dashen Bank will be the first bank to use the Amole eCommerce Gateway making it the first Ethiopian bank to acquire all three major international cards (Visa, Mastercard, and American Express).
Moody’s report on the credit analysis of Ethiopia on Friday, May 29, 2015 reads that Ethiopia’s favorable growth and debt burden prospects and low debt burden supported its B1 rating, MoFA reported.
A delegation of about 30 Indian companies led by Karuturi, the world's largest flower producer, last week expressed interest in investing in the agro business sector in Ethiopia.
Indian companies have so far invested about 5.5 billion dollars and Karuturi said that the newly coming Indian investors would significantly push up the figure.
Karuturi is currently engaged in farming flower, palm oil, rice and maize on 100,000 hectares of land in the Gambella Regional State and Bako in the Eastern Wollega Zone of Oromia Region.
