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The African Union Commission (AUC), in collaboration with the United Nations Development Programme (UNDP) and key stakeholders, launched the Africa Blue Economy Week (ABEW-24) and the Commemoration of the Africa Day of Seas and Oceans today in Addis Ababa. The event is set to boost inclusive and sustainable blue growth across Africa. Africa’s vast coastline …

African Blue Economy Week Launched in Addis Ababa Read More »

A delegation from the Government of Malawi, accompanied by IOM staff, visited the Addis Ababa Bole International Airport to gain insight into how the Migration Information and Data Analysis System (MIDAS) developed by IOM operates. The purpose of the study tour was to equip Malawian officials with a comprehensive understanding of MIDAS for effective border …

Malawi Delegation Visits Bole Int’l Airport To Take Ethiopia’s Experience On MIDAS Read More »

Ethiopia’s Finance Minister Ahmed Shide emphasized the need for reinforcing transformative financial frameworks to the Sustainable Development Goals (SDGs) and undertaking comprehensive reform in the global financing system. The minister also called on all stakeholders to undertake comprehensive reform of the global financing system. A five-day opening session of the Preparatory Committee for the Fourth …

Ethiopia Demands Financing Progress On SDGs, Reform Of Global Financing System Read More »

The Ethiopian Industrial Parks Development Corporation (IPDC) disclosed that it attracted more than 500 million USD in capital investments during the 2023/24 Ethiopian fiscal year. Similarly, the corporation revealed that more than 237 million USD worth of import substitute products were supplied to the domestic market in the concluded fiscal year. The Corporation which is …

IPDC Attracts Over US$500M Investment Capital In Concluded FY Read More »

The Industrial Parks Development Corporation of Ethiopia (IPDC) revealed that over 237 million USD worth of import substitute products were successfully supplied to the domestic market during the last fiscal year. Notably, among the various import substitute products produced by Ethiopian industrial parks, beer malt and construction materials emerged as the primary inputs. Moreover, IPDC …

Over $237M Worth Of Import Substitute Products Supplied To Local Market In 2023/24 FY Read More »

Export revenue from industrial parks falls short of expectations in the 2023/24 fiscal year. The Ethiopian Investment Commission (EIC) reported a total export value of USD 115.2 million, 46% of the targeted amount. This shortfall is largely attributed to Ethiopia’s suspension from the African Growth and Opportunity Act (AGOA) in January 2022. AGOA, a key …

Ethiopia: Exports from Industrial Parks Decrease Read More »

In a significant development, the Ethiopian Chamber of Commerce and Sectoral Associations (ECCSA) elected a new president and leadership team during its general meeting on July 18, 2024. The meeting was held under the directive of the Ministry of Trade and Regional Integration. Sebsebe Abafira, former President of the Oromia Chamber of Commerce and Sectoral …

Ethiopian Chamber of Commerce Elects New President Read More »

Wegagen Bank has introduced a new digital loan service called “Efoita,” designed to benefit various segments of society. The service is primarily intended to support business expansion and provide working capital for entrepreneurs in micro, small, and medium enterprises. It also aims to offer emergency loans to salaried employees. The launch of this digital loan …

Ethiopia: Wegagen Bank Launches Digital Loan Service Read More »

The Addis Ababa City Council approved a Birr 230.39 billion budget for the city’s administration in the current fiscal year. This decision was reached after the council’s fourth regular meeting, which concluded yesterday with the approval of various appointments. The budget dedicates Birr 146.48 billion for capital expenditure, Birr 74.5 billion for regular expenditure, and …

Addis Ababa Approves Birr 230 Billion Budget for 2024/25 Read More »

Some 3.8 billion USD was earned from exports this Ethiopian Fiscal Year, according to the Ministry of Trade and Regional Integration. Performance evaluation of the 2016 Ethiopian Fiscal Year and the plan for this year of the ministry is underway in Jigjiga, Somali region. Speaking on the occasion, Trade and Regional Integration Minister Kasahun Gofe …

Nation Earns Close to 4 Billion USD from Export   Read More »