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The five sugar factories under the Omo Kuraz Sugar Development Project in southern Ethiopia have consumed over 65 billion Birr (USD 1.1 billion) in investment, but are still not operating at full capacity according to officials. The five sugar factories are designed to crush 60,000 tons of sugarcane per day when working at full potential.

Applicants seeking to operate a special economic zone in Ethiopia must commit a minimum of USD 75 million in funding over time, according to a new proclamation passed by Parliament. The capital contribution can come from equity, debt financing, or a combination of the two. The Ethiopian Parliament has approved a new proclamation outlining regulations

The Ethiopian government has established an inter-ministerial committee to spearhead the liberalization of its trade policies. In announcing its formation, Ethiopian Investment Commission (EIC) Commissioner Hana Arayaselassie reveals that the Trade Liberalization Committee will include representatives from key agencies. Members are drawn from the EIC, the Ministry of Trade & Regional Integration, Ministry of Industry,

Addis Ababa Water and Sewerage Authority (AAWSA) has introduced new rules to regulate groundwater use, as the Ethiopian capital grapples with a severe water shortage. Addis Ababa, home to over five million people, relies on surface water from dams located outside city limits. However, the supply falls far short of meeting demand. Most residents now

The IMF’s new World Economic Outlook publication estimates that while Ethiopia’s economy will continue outperforming global averages, high inflation threatens its macroeconomic stability. For Ethiopia, the Fund forecast GDP growth of 6.2 percent in 2024 and 6.5 percent in 2025, lower than the government’s projection of 7.5 percent growth. However, Ethiopia’s growth is predicted by

In a bid to attract more business to its newly constructed Lamu port, the Kenya Ports Authority (KPA) plans to lower tariffs next month. This comes as Kenya aims to entice landlocked Ethiopia’s substantial cargo volumes away from the Port of Djibouti, which currently serves as Ethiopia’s primary trade gateway.  The move also comes as

The Bahamas will host a key summit seeking to deepen trade links between Africa and the Caribbean. On April 11, 2024, the Government of the Commonwealth of The Bahamas inked an agreement with the African Export-Import Bank (Afreximbank) in which it committed to welcoming key international gatherings next year. The third AfriCaribbean Trade and Investment

The National Bank of Ethiopia’s inaugural Financial Stability Report sheds light on an alarming degree of loan concentration among a powerful few. A mere 10 borrowers collectively account for nearly a quarter of all bank loans. The report found these top ten borrowers from the banking industry monopolized 23.5 percent of total credit as of

While Ethiopia’s banking sector continues expanding, its growth is lagging behind the rapid increases in GDP, according to the National Bank of Ethiopia. Total bank deposits reached 2.2 trillion birr (38.6 billion dollars) by the end of June 2023, an increase of 24.6 percent from the previous year, the central bank reported. Loans and bonds