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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 »

A new joint report by the United Nations Development Programme (UNDP), the United Nations Economic Commission for Africa (UNECA), the African Development Bank (AfDB), and the African Union Commission (AUC) has found that Africa is off track to meet the majority of its sustainable development targets for 2030. The 2024 Africa Sustainable Development Report (ASDR), …

New Africa Sustainable Development Report Shows Critical Importance of Scaled-Up Dev’t Financing Read More »

Prime Minister Abiy’s “Dine for Ethiopia” initiative has made significant strides in developing the country’s tourism destinations, according to the Office of the Prime Minister (PMO). The office mentioned those tourist destinations built through the “Dine for Ethiopia” initiative such as Halala Kella, Chebera Churchura, Wonchi, and Gorgora, each highlighting the unique natural endowments of …

“Dine for Ethiopia” Initiative Makes Significant Strides in Developing Tourism Destinations: PMO Read More »