Ethiopia's so-far sole telecom services provider Ethio Telecom announced it has collected a revenue of $1.29 billion (56.5 billion birr), which shows an 18.4 percent rise compared to the previous year. The earning exceeds the target the company set for the period.
Ethiopia’s export to the US under AGOA, African Growth and Opportunity Act, has risen by 62 per cent in just one year. If this trend continues, Ethiopia is poised to be the second or third largest exporter in East Africa under AGOA, USAID, US Agency for International Development, states.
Ethiopia's trade performance over the past nine months showed positive signs, though falling short of initial targets. The country aimed to achieve USD 3.562 billion in foreign trade revenue, but only reached USD 2.541 billion, representing 71.34% of the goal.
The Ministry of Labor and Skills has announced that 51,000 of the 179,000 enterprises established in the country since the government adopted a new policy on family businesses are family-owned.
The Ethiopian Investment Commission (EIC) announced that Ethiopia has attracted foreign direct investment (FDI) amounting to $3.9 billion during the fiscal year that ended on July 7, 2021. Compared to the previous year, the figure has shown an increase of almost a billion dollars, by over 34 percent.
