2merkato

Ethiopia will develop a secondary market in government and corporate bonds in the coming Ethiopian Fiscal Year to expand the country’s fundraising choices, Bloomberg reported.

The Ethiopian Planning and Development Commission said it is preparing Ethiopia’s first-ever ten-year Perspective Development Plan. The plan, when finalized by June 2020, will encompass the period from July 2020 to 2030. This will enable it to line up with the Sustainable Development Goals (SDGs).

Ethiopia’s Ministry of Mines, Petroleum and Natural Gas gave license for Circum Mineral Potash Private Limited Company for the extraction and development of potash in Dalol, Afar State.

During the first nine months of the current Ethiopian fiscal year, the country granted investment licenses for 15 foreign and 29 domestic companies that would participate in the development, exploration, and production of minerals.

Ethiopia lifted the almost year long ban on the export of raw cotton in view of the increase in production this year according to sources.

The decision was passed after a meeting between Mekonnen Manyazewal, Minister of Industry and Tefera Derbew, Minister of Agriculture and representatives from the textile industry last week.

The meeting followed a complaint received by the government from cotton growers who pointed out to excess cotton stored in their warehouses with textile factories purchasing less than the expected quantities.