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Pandemic-induced container shortage pressures freight rates in Ethiopia
Spread the NewsThe Ethiopian Shipping and Logistics Services Enterprise (ESLSE) has disclosed that the global shortage of shipping containers, primarily caused by the Covid-19 pandemic and that of the three million containers stranded in different destinations have led to 15% gap in global shipping lines business. Roba Megersa, CEO of ESLSE told Ethio Trade and…

Finance expert urges ‘holistic approach’ to curtail thriving currency exchange in parallel market
Spread the NewsBy Yared Nigussie A financial expert urged the government to implement a holistic approach to control the thriving foreign exchange in the parallel market. Reports claim that the gap between Ethiopian currency’s official and parallel-market exchange rates widened. The Birr traded as high as 116 a dollar on the parallel market (commonly known…

Ethio Sugar plans to launch trial production in four years
Spread the NewsEthiopia Sugar Manufacturing Industry Share Company announced that it has a plan to launch a trial production after four years. The factory will also start producing and exporting sugar in five years. Bitew Alemu, CEO of Ethio Sugar Manufacturing Industry Share Company said in a press conference Tuesday at Sheraton Addis that once…

Study recommends boosting fruits export earnings by solving challenges
Spread the NewsA survey commissioned by Addis Chamber of Commerce and Sectoral Associations (AACCSA) has recommended boosting Ethiopia’s fruits export earnings through resolving the challenges in the sector. Fruits production and processing sector has been challenged by various problems, which have lagged the sector’s performance behind its potential compared to other countries. AACCSA has organized…

Over 3.85 mln Birr tax paid via Telebirr
Spread the NewsEthio telecom announced Tuesday that more than 3.85 million Birr tax has been paid through Telebirr, a mobile money service as of July 8, 2022. Accordingly, so far, 679 Category C tax payers have settled their annual income tax of 2014 Ethiopian budget year digitally via Telebirr. More than 300,000 tax payers are…

United Capital Group keen to invest in Ethiopia’s natural gas
Spread the NewsUnited Capital Group has expressed its interest to invest in Ethiopia’s natural gas exploration and development sector. Takele Uma, Minister of Mines announced that discussion has been held with United Capital Group delegates led by Prince Abbas bin Ali bin Nayef of Jordan pertaining to investments in natural gas on Tuesday at the…