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Ethiopia could spend $6 bln annually if global oil price continue to hike
Spread the NewsEthiopian Petroleum Supply Enterprise (EPSE) announced that if the global oil and gas price continue to rise, the country needs to invest $6 billion in a year to purchase oil and gas for its consumption. Tadesse Hailemariam, CEO of EPSE told Ethio Trade and Investment Forum that “Ethiopia needs to invest $6 billion…

Ethiopia plans to garner $5.25 bln export income
Spread the NewsPresident Sahlewerq Zewdie said Monday that the government has planned to collect $5.25 billion export income in 2021/2022 budget year. “Reforming the trade system is among the priorities of the government,” Sahlewerq said. Ethiopia earned $3.6 billion from the export of commodities in 2020/2021 fiscal year, according to Ministry of Trade and Industry….

TNA aims to become preferred charter operator in East Africa
Spread the NewsBy Kaleyesus Bekele Trans Nation Airways (TNA) , a private charter flight operator based in Addis Ababa, Ethiopia, is aiming higher to become the preferred charter operator in East Africa region. Established in 2004 TNA operates two Dash8 aircraft and recently acquired a new King Air360 from Textron Beech Aircraft Company. The parent…

Ethiopia earns $1.28 bln in four months
Spread the NewsMinistry of Trade and Regional Integration announced Wednesday that Ethiopia has earned $1.28 billion from the export of different commodities in four months. The Ministry initially planned to secure $1.31 billion. Agriculture and manufacturing products and service sector activities generated an income of $904, $157 and $188 million, respectively, according to Gebremeskel Challa,…

Expert urges US to revisit strategy over revoking Ethiopia from AGOA
Spread the NewsZemedeneh Nigatu, Global Chairman, Fairfax Africa Fund urged that the United States needs to revisit its strategy over revoking Ethiopia from the African Growth and Opportunity Act (AGOA), a quota and duty free trade privilege to African countries. “Whatever policies and strategies the US is trying to achieve by imposing this kinds of…

E-commerce faces security challenges
Spread the NewsBusinesses said lack of security in Ethiopia has been adversely affecting the success of e-commerce platforms. Addis Abeba Chamber of Commerce and Sectoral Associations organized a consultation with businesses focused on “Challenges and Opportunities E-Commerce in Ethiopia”. Deficiency of infrastructural facilities has been mentioned as among bottlenecks for the e-commerce businesses. Mainly, lack…