Ethiopia is ranked as the top hydropower producer in Africa by the International Hydropower Association (IHA). Ethiopia is first with 3,822 MW installed capacity. South Africa and Egypt follow with 3595 MW and 2,844 MWs respectively while DR Congo is ranked fourth with 2,593 MW.
Ethiopia fixed the price of cotton at 29 birr to 32 birr a kilogram to allow cotton growers to dispose of accumulated stock estimated at 106,000 tons.
The price was fixed by a committee of cotton and textile industry players with government oversight. The committee met with Tadesse Haile, State Minister for Industry and included representatives of textile manufacturers, the Ethiopian Textile Development Institute and cotton growers.
The government of Ethiopia has floated an international tender to buy 70,000 tons of milling wheat, according to European traders.
In a dramatic departure from its longstanding economic policies, the National Bank of Ethiopia (NBE) has introduced sweeping reforms to its foreign exchange regime. The move, aimed at stimulating growth and attracting foreign investment, is expected to have far-reaching implications for the country's economy.
Ethiopia is expected to return to double digit economic growth this fiscal year, driven by a reform program supported by the International Monetary Fund (IMF) that has eased foreign exchange constraints, boosted exports, and improved macroeconomic stability.
