The Ethiopian Deposit Insurance Fund (EDIF) has announced that it is considering increasing the maximum amount of insurance compensation paid to depositors when a bank or microfinance institution becomes insolvent.
Summit to introduce low hanging sector opportunities for local and foreign investors in Ethiopia.
Within the span of less than a decade, Ethiopia emerged as a global player in the cut flowers business ranking only second to Kenya. With a good mix of incentives and active facilitation, the Government of Ethiopia took a non-existing flower sector and developed it into a USD $200 million export sector with more than 85,000 jobs created. This was possible because Ethiopia enjoys an inherent comparative and competitive advantage in the production and delivery of flowers. While Ethiopia’s agro-climatic and altitude variety give it vast advantages in growing a wide variety of fruits and vegetables, its location affords it fast and cheaper transport and delivery potential. The country is now determined to repeat the flower miracle, this time to develop a robust export oriented fruits and vegetables sector.
“The potential this country has in fruits and vegetables is even more awesome,” said Ato Hailesilassie Tekie, Director General of the Ethiopian Horticulture Development Agency. “While there are plenty of opportunities for commercial farmers, there also exists significant opportunities in harnessing smaller holder farmers into outgrower schemes. The opportunities are endless. As the sector is very high on the priority of the Government of Ethiopia, we are preparing suitable land for investors, creating a better business operating environment, as well as facilitating adequate cold chain and logistics investments to ensure produce reaches regional and global markets in an efficient manner” he added.
National Bank of Ethiopia (NBE) announced Birr is devalued by 15 percent starting from October 11, 2017.
Ethiopia developed around 2.7 million hectares of land by irrigation in the just concluded fiscal year. This was disclosed by the Ministry of Farming and Natural Resources (FNR).
The Ethiopian Coffee and Tea Authority said it is developing a national umbrella coffee brand to the international coffee market.
