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Ethiopia Investment Summit to Showcase Opportunities in the World's Third ... - MarketWatch (press r
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 EthioSports |
Ethiopia generates $137 million from manufacturing exports
Addis Ababa, Ethiopia –The Ministry of Industry said that over $137 million was obtained from the export of manufactured goods alone in the first half of the budget year. Communication Corporate Director with the Ministry, Melaku Taye, ...
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Ethiopia predicts 11 per cent economic growth for 2012
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Ethiopia's Annual Inflation Rate Declined to 32% in January
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Ethiopian Inflation Slowed to 32% in January; May Drop Below 10% by July
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WTO Chief-Ethiopia Must Take Its Time in Joining
Provoked by the economic crises in the rich world since 2008, two shadows are cast on the multilateral trading system, institutionalised as the World Trade Organisation (WTO). Rich countries have increasingly become protectionist, while at the same time opting for regional trade agreements with binding and reciprocal international pacts over the movement of goods and services. In between are least developed countries (LDCs) that are lined up to become members of this Organisation, which Director General Pascal Lamy argues is the norm rather than the exception. Lamy was here last week attending the African Union (AU) Summit and met Prime Minister Meles Zenawi. In an exclusive interview, he told Tamrat G. Giorgis, managing editor, about the functioning relationship he has developed with Meles.
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Tigray Drills 40.5 Metres of 3.24% Copper, 1.2 g/t Gold, 25 g/t Silver and ... - MarketWatch (press
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Ethiopia to Export Cement - 2merkato - Ethiopian Business Portal
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Ethiopia to Export Cement
2merkato - Ethiopian Business Portal
The Ethiopian Ministry of Industry has approved a request by Mugher Cement Enterprise to export cement from Ethiopia to neighboring countries. The approval letter is soon expected to be delivered to the enterprise signed by Mekonnen Mayazewal Minister ...
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Ethiopia's Custom Authority Meets with Merkato Business People - 2merkato - Ethiopian Business Porta
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Ethiopia's Custom Authority Meets with Merkato Business People
2merkato - Ethiopian Business Portal
The Ethiopian Revenue and Customs authority held talks with business people from the Merkato area, center for business activity in Ethiopia. The meeting was held at the National Lottery Administration Hall last week. The meeting was expected to relax ...
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Ethiopia Sale of State Assets Would Raise $7.6 Billion
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 Addis Fortune |
Ethiopia's Climate Resilient Green Economy (CRGE) Initiative in the African ... - Addis Fortune
It was proposed that the GCF have 24 board members, and equivalent number of alternate members, wherein developing and developed countries will be represented equally. Its assets will be managed by trustees that the World Bank Group (WBG) and there ...
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Economic Growth Corridors Plan to Pave Future
The first phase of a study for the development of a national framework for Economic Growth Corridors (EGCs) in Ethiopia conducted by Ernst & Young (EY) is to be presented on Friday, December 23, 2011, at the Hilton Hotel.
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Institute secures 27.2 mln USD revenue
The Textile Development Institute said it has secured 27.2 million USD from the export of textile in the first quarter of 2004 Ethiopian fiscal year. According to the press statement from the institute the revenue exceeded by 87 percent that of the set target during the reported period. It also surpassed by 18.6 million USD that of the same period obtained the previous year. The statement said yarn, garments and weaving products have the top shares in generating the revenue respectively. The institute said the Kombolcha Textile Share Company and Ayka Addis Textile Factories contributed for the increased revenue in September.
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Habesha-Mart in the making
A major merger between two state owned enterprises is expected to create a huge retail market.
The Ethiopian Fruit and Vegetable Marketing Enterprise (EtFruit) and Merchandise Wholesale and Import Trade Enterprise (MEWIT) are to become a corporation and expand their services.
Following a high level government delegation visit to India two months ago, discussion began about the possibility of creating a large retail corporation.
Now both enterprises have been requested to submit a breakdown of their resources and financial status. According to sources, the government is working to consolidate these two public enterprises under one corporation.
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HDI puts Ethiopia 14th from bottom
The United Nations Development Program’s (UNDP) annual flagship publication, the Human Development Index (HDI) for 2011, puts Ethiopia fourteenth from bottom in its HDI ranking of 187 countries. That is the most countries it has ranked in their over two decades of publication. Ethiopia ranked 174 out of 187 surpassing only 13 countries amid the huge investment the Ethiopian government and its development partners have made so far. The HDI placed Norway at the throne of human development while it put DR of Congo at its tail.
What a disparity, many would say. One of the richest countries
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Inflation eases but food price skyrockets
The overall, monthly rate of inflation decreased slightly in September, thanks to a reduction in non food prices. However the price of food continues to skyrocket, accounting for 57 percent of the average Ethiopian’s monthly budget.
In fact the annual food inflation in September was 51.3 percent, a two year high, the CSA’s CPI revealed. The annual food inflation rate was at 49.9 percent in August. It climbed to 51.3 percent the following month. Cereals, pulses, coffee, pepper are some of the major food items whose price went up in September.
Food on average accounts for more than 57
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Ethiopia’s export earnings fall short of projected targets despite export increases
Ethiopia earned 753 million US dollars from export in the first three months of the 2011/12 fiscal year, an increase of more than 33 percent from the previous earning at the same period last fiscal year.
However, this result falls short by 16.3 percent from the government’s target of a little more than 901 million birr; Ethiopia’s export earnings from the same period last fiscal year increased by 189.6 million dollars.
Ethiopia earned this revenue from the export of 275,611 tones of produce to about 94 countries, with almost 80 million dollars or just over 11 percent of it
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EMERGING TO BRICs
Prime Minister Meles Zenawi has perhaps been a lone politician in Africa in publicly going against ideologies of the West. His preference of a developmental state over the neo-liberal approaches of the west has been in the making for the past decade, albeit guardedly. While he held that belief, there were indications that his government gave way to the notion that the private sector could play a significant role in the economic development of the country. However, his belief seems to have solidified, leaving the latter option behind and his public statements bolder. His speech at the Sixth African Economic Conference, organized by UNECA, African Development Bank and the UNDP, under the theme “Towards Green Economy” showed how far he had come in that line of thought.
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TESTING LIMITS-PM disregards advice to slow down growth
Ever so adamant in his stance that having an ambitious five year economic plan is not necessarily a bad thing; Prime Minister Meles Zenawi was of the opinion that testing the limits is the path to growth in his address to the Parliament on Thursday, October 20, 201
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Ethiopia to sign Agreement with Djibouti to use Port for Coal Import
Ethiopia is to sign an agreement with Djibouti next month for the use of its Port to ship in and unload coal that the Ethiopian Petroleum Enterprise (EPE) plans to import to be used as fuel for cement factories.
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Bumpy Economy,Stretching Means
Estimates of the future population size and growth rate of Ethiopia with an assumption of moderate fertility decline indicate a substantial increase in the coming years. Though the growth rate declines gradually, the population is expected to increase from 80.4 million to 94.5 million in 2015 reaching 106 million in 2020, according to world population prospects published by the United Nation in 2010. Even if the economy grows by 11pc on average for the next ten years, it is inadequate to ease or overcome the deficits accrued in past decades, or bring the country into sustainable resource-population equilibrium as the result of the unbalanced growth in nominal GDP and per capita income due to high population growth rate. For the next ten years, GDP and per capita income is expected to increase by 91pc and 45pc, respectively.Find Out More.
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Tax Authority Hunts for More Back Taxes
Continuing its investigation into oil companies, the Ethiopian Revenues & Customs Authority (ERCA) has found that it is owed millions in unpaid back taxes. It has identified unpaid taxes by Total Ethiopia and National Oil Company (NOC), sources disclosed to Fortune.
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August Export performance astonishes!
Exports from the manufacturing industry in Ethiopia in the second month of the budget year have recorded an astonishing performance exceeding all previous historical results.
The one month report that was organized by the Ministry of Industry (MoT) for manufacturing exports indicated that the performance has met 97.2% of the target. The August export target was to earn 29.65 million dollars, while the actual export recorded was 28.81 million dollars.
Based on the last export projection and the real earned amount, this record is a historical performance for the manufacturing export sector.
The past year’s the export earnings from
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Ethiopia: the fastest growing economy next to Ghana
The 2011 African Economic Outlook Report (AEOR) ranked Ethiopia the second fastest growing economy in Africa. The report declared Ghana as the first fastest growing economy in the continent at a rate of 12 percent this European year.
The AEOR is an annual report that combines expertise of the African Development Bank, OECD Development Center, United Nation Development Program and the United Nations Development Economic Commission for Africa.
The report identifies Ghana, Ethiopia, Democratic Republic of Congo, Zimbabwe, Mozambique, Angola, Liberia, Nigeria, Tanzania, and Botswana as the top ten fastest growing economies in the year. It also rates Tunisia,
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Construction: More local, less foreign
The Construction Contractors Association of Ethiopia (CCAE) has opposed foreign based contractors’ involvement in medium and small construction projects as it is affecting local contractors’ activity, including its financial and capacity growth.
The management of the association, which is the biggest and the oldest association in the sector, has said that the involvement of foreign contractors in small construction projects create more disadvantages than benefits for the country.
“One disadvantage of contracts being given to foreign companies is that Ethiopia then has to pay in the corresponding foreign currency, which is a big disadvantage. But the scarcity of local contractors
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VAT’s share in total tax revenue at 41pct
A study conducted by the Addis Ababa Chamber of Commerce and Sectoral Association’s (AACCSA) Private Sector Development Hub on the impact of tax reform on private sector development reveled that the share of direct tax in total revenue has decreased while that of indirect tax has increased.
Explaining how the proportion of revenue from indirect tax has increased, the study revealed that the share of direct tax has decreased from 36.5 percent in 2002/03 Ethiopian Fiscal Year (EFY) to 29 percent in 2007/08 EFY while that of indirect tax has increased from 63 percent in 2002/03 EFY to 70.5 percent
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