European countries have become the major importers of Ethiopian commodities during the Ethiopian budget year concluded July 7, 2020, according to a new analysis by Cepheus Investment Advisory, a private equity firm.
The analysis conducted by the firm shows that European Union markets, rather than the US or China, are driving Ethiopia’s export growth.
The Netherlands became the biggest buyer of Ethiopian exports in FY 2019-20, absorbing 308 million USD or 10 percent of total exports.
Together with Switzerland and Germany, these three European nations increased their purchases of Ethiopian goods by over 300 million USD last year, equivalent to the entire export increase (from 2.66 Billion USD to 2.99 billion USD) in the same period,” said the paper, entitled, ‘Ethiopia’s Recent Trade Performance: A Data Pack and some observations’.
“By contrast, demand from the US and China fell sharply in 2019-20, by more than 25 percent in each case, though both had been the no. 1 buyer of Ethiopian exports in recent years,” it said.
Meanwhile, the paper stated that China remains to be the leading origin for Ethiopia’s imports as has been the case for the last 18 years.
Ethiopian Airlines (Ethiopian), Africa’s most successful carrier, will start cargo service to Mauritius effective from 2 October.
Ethiopian has a developed pan-African passenger and cargo network. It also serves 127 other international destinations across five continents with a fleet which includes modern and environmentally-friendly aircraft.
Mauritius’ imports grew by eight per cent to $5.6 billion in 2018. The Indian Ocean island nation imports mineral fuels, oils and distillation products.
Other major Mauritian imports include machinery such as vehicles, nuclear reactors, boilers, electrical and electronic equipment, as well as fish including crustaceans, molluscs and aquatic invertebrates.
Mauritius currently imports more than it exports. Its main exports are apparel, meat, fish, seafood and either cane or beet sugar.
Tourism is the small island nation’s biggest revenue generator.
Ethiopian Ministry of Finance revealed today that it will issue invitation for bid to international telecom companies to award two bidders that take over 40 percent stakes of Ethio Telecom in October 2020.
The ministry held a consultative meeting today with private, financial and IT sectors to get their feedback on the privatization process, particularly in the telecom sector during the past two years.
Senior Advisor at Ministry of Finance, Brook Taye told ENA that the bid will be announced and all interested bidders can get information within the coming 20-25 days.
According to Brook, the government has been working in telecom reform to prepare a new proclamation during the last 24 months.
The bid document for the two new licenses will allow the winners to build, own and operate telecommunications network, he added.
Finance Minister Ahmed Shide on his part said at the consultative meeting that Ethiopia has been conducting a sizable and impactful reform in the telecom sector which enables the country to accelerate its digital economy.
Ethiopian Investment Commission (EIC) has signed a memorandum of understanding (MoU) with First Consult on Monday in order to implement the digitization of the labour supply and matching database for factories within seven industrial parks in Ethiopia.
The MoU was signed today by EIC Commissioner, Lelise Neme, and, the BRIDGES Program Project Manager Michael Addisu.
The partnership between First Consult, which is implementing the BRIDGES Programme, an initiative supported by the Mastercard Foundation’s Young Africa Worksin Ethiopia strategy and the Ethiopian Investment Commission (EIC), will lead to a series of job creation and employment interventions across several industrial parks (IPs) throughout the country.
The seven Industrial Parks participating in the utilization of the IP labour database include: Adama IP, Debre Berhan IP, Dire Dawa IP, Bahir Dar IP, Hawassa IP, Mekelle IP, and Kombolcha IP.
The BRIDGES Programme, which is a five-year initiative, will support the creation of close to 600,000 jobs for young people (80% women) and 15,000 micro, small, and medium enterprises (MSMEs). Furthermore, the BRIDGES Programme will train 300,000 unemployed young people through industrial park job creation initiatives, and market linkage between industrial parks and MSMEs.
The creation of a digital industrial park labour database will unlock the potential for job creation within industrial parks, as well as their surrounding ecosystem. Additionally, it will promote local value addition and domestic linkage between large investors and local suppliers. The IP labour database will also be used as a major instrument for optimal, reliable, and predictable labour market information for policy makers and industrial parks.
The expected impact of the digital IP labour database includes facilitating the matching of labour supply and demand to support an estimated 100,000 jobs within two years as well as supporting 30,000 industrial park workers to obtain soft-skill training and awareness of the industry for better comprehension and career development planning.
The BRIDGES Programme, which is a part of the Mastercard Foundation’s Young Africa Works initiative, intends to facilitate and provide technical assistance toward the development of the digital labour database. In Ethiopia, the Mastercard Foundation, through its Young Africa Works strategy, aims to create 10 million dignified and fulfilling jobs and employment opportunities for young people by 2030.
The Ethiopian Investment Commission will take the lead in supervising the development of the IP labour database and manage its data collection and aggregation of information from all participating industrial parks. The EIC will also work to ensure proper buy-in and utilization of the database by stakeholders and investors.
Work on the digital IP labour database will begin in mid-September 2020 and continue throughout the implementation and scale up to additional industrial parks. Full development of the database and transfer of ownership to the Ethiopian Investment Commission will be completed by 2023.