Privatize SugarEthiopian Ministry of Finance announced today that six sugar projects will be privatized in the first quarter of 2020. 

Finance State Minister of Ethiopia, Eyob Tekalign told journalists that the country is conducting technical assessment, validation of factories and social impact assessment for all the thirteen sugar projects, of which the 6 will be privatized in the stated period.

The assessments on the projects are expected to be completed by the end of next month, he added.

According to Eyob, useful information has been gathered from potential buyers in order to commence the first phase of privatization.

“We will announce open, transparent and competitive bid process for these sugar projects as the government has encouraged the participation of the private sector and inflow of private capital into the economy,” the state minister explained.

He admitted that the effort to expand sugar factories has brought no result, except  accumulated debt burden, despite the huge investment made by the government.

The privatization of this sub-sector will help exploit the country’s potential for sugar production, Eyob said, adding that the transfer of means of production “will increase produce  of factories to meet growing local demands as well as export sugar to regional and international markets.”

Ethiopian Sugar Corporation CEO, Weyo Roba said on his part a well-designed policy and regulatory framework has been put in place to protect the domestic industry from distorted international price.

The regulation will create different price regime between domestic and export markets and ensure equitable export obligations among producers, he revealed.

According to ENA, the state news agency, the one-day Consultation on Ethiopian Sugar Industry Reform was aimed at reviewing and enriching a draft sugar policy and proclamation to reform the sugar industry in Ethiopia.

Source:- https://africabusinessnetworking.com/ethiopia-to-privatize-sugar-projects-in-first-quarter-of-2020/

Second EthiopianThe second edition of the Ethiopian International Mining Conference and Exhibition (EIMC 2019) opened in Addis Ababa. The two-day event is being held under the theme “transforming potential into production by creating an attractive mining investment framework.” It brought together policy makers, investors, industry experts, development partners and other key stakeholders in the Ethiopia’s mining sector. EIMC 2019 was organized by the Ministry of Mines and Petroleum of Ethiopia, in association with the UK based AME Trade Ltd.

Source:- https://fanabc.com/english/2019/11/second-ethiopian-intl-mining-conference-opens-in-addis-ababa/

World Export Development Forum Opens in EthiopiaThe World Export Development Forum (WEDF) was opened in Addis Ababa today under the theme “Trade and Invest in One Africa.”

Co-hosted by the International Trade Centre (ITC) and the Ethiopian Ministry of Trade and Industry, the forum was officially opened in the presence of high ranking government officials including President Sahle-Work Zewde.

The event attracted business leaders, policymakers, entrepreneurs, trade development officials, representatives of international organizations, trade and investment promotion agencies and business associations across the world.

The Forum is timed to contribute to Africa Industrialization Week, intended to help business make the most of the newly ratified African Continental Free Trade Area (AfCFTA) agreement with a special focus on the role of women and youth and to address international business competitiveness issues and profile international investment in Ethiopia and beyond.

During the event, a business-to-business matchmaking platform that aims to create new business deals in agribusiness was also organized in partnership with the Ethiopian Chamber of Commerce and Sectoral Associations, according to African Business Networking. 

Source:- https://africabusinessnetworking.com/world-export-development-forum-opens-in-ethiopia/

Ethiopia Attracts 700 Mln FDI in First QuarterNation attracted 700 Million Foreign Direct Investments (FDI) during the first quarter of the on-going fiscal year, according Ethiopian Investment Commission report.

In its report to the House of Peoples’ Representatives Trade and Industry Standing Committee, the Commission said the country has achieved 70 percent of the plan which was projected to bring over a billion U.S. dollar investments during the stated period.

The country attracted the investments from close to 100 new foreign companies being operational in various sectors, the report showed.

Ethiopian Investment Commissioner, Abebe Abebayehu, stated that the achievement has shown a 13 percent progress compared to in the same period of the last budget year.

Acknowledging that Ethiopia has still not been earning the expected foreign currency from its manufacturing products,  lack of peace and stability, repeated power break, inadequate infrastructure around the industrial parks are among the major challenges for the sector, the commissioner  revealed.

He particularly noted that the recent instability of the country is affecting the investment flow saying “Ethiopia has lost 300 million USD due to the disruption in different part of the country.”

Noting that attracting the highly qualified investors has been a top priority of the nation, the commission has licensed the best global firms during the last three months unlike the past experience in this regard, he underscored.

 After hearing the report, the standing committee urged the commission to focus on export oriented products, job creation and technology transfer.

The country has secured some 47 million USD from the manufactured products, which is the least achievement of the targeted plan in first three months, according to the report.

Source:- https://www.ena.et/en/?p=10849

Farm Africa launches project targeting 130000 forest coffee producers in Ethiopia

Farm Africa has launched a new project to help more than 130,000 forest coffee producers in Ethiopia’s Oromia regional state improve their livelihoods by increasing the sustainable production of high-quality coffee.

Funded by High Water Global, the Sustainable Forest Coffee Value Chain Development project will use the participatory forest management (PFM) approach, which Farm Africa has been developing for more than 20 years.

PFM brings together local communities and local government to share responsibility for developing sustainable plans for the forests. In return for protecting precious biodiversity, communities are allowed to harvest wild coffee from the forest in a sustainable way.

Project staff will work with seven existing participatory forest management cooperatives in the Chora woreda in Buno-Bedele zone, offering training in the production and handling of quality coffee and support to build links to national and international markets and increase their bargaining ability.

Read More at:-https://africabusinessnetworking.com/farm-africa-launches-project-targeting-130000-forest-coffee-producers-in-ethiopia/