Ethiopia-Djibouti railway records 37.5% increase in revenue

Ethiopia-Djibouti railway records 37.5% increase in revenue THE Ethiopia-Djibouti railway, which runs from Addis Ababa to the port in Djibouti City, recorded $US 86.13m in revenue in 2021, a 37.5% increase on 2020. The line was used by 449 passenger trains and 1469 freight trains over the year, transporting 77,357 TEUs. The company also improved the efficiency of operation, with the time to process a freight train at the Port of Doraleh in Djibouti reduced from three days to one-and-a-half days, while the loading and unloading time at the dry port of Modjo was reduced from 12 to seven hours. Safety improved with no accidents recorded in 2021. Ethiopia’s Somali Region, the largest region through which the Yaji Railway passes, also implemented the Regulation on Railway Safety Protection on August 25 2021. The railway carried 96 special trains of fertilizer and 13 special trains of wheat into Ethiopia, with the line targeting new markets such as cooking oil, small cars and chilled fruits and vegetables. To improve the localisation of operation, 34 Ethiopian locomotive drivers were awarded their certificates on May 4 2021, followed by 15 shunter drivers on July 29. The 752km electrified line opened in October 2016, with the $US 3.4bn project 70% financed by China’s Exim Bank and built by China Railway Group and China Civil Engineering Construction.

Ethiopian Cargo launches new booking system

Ethiopian Cargo launches new booking system Africa’s largest cargo service provider Ethiopian Cargo and Logistics Services has launched a new air cargo booking platform. The new online system enables the airline’s customers to check flight schedules, space availability, loadability of freight, and make real-time bookings. “We are committed to start walking the long walk of taking out paper from the entire air cargo process by digitalising the logistics value chain,” said Ethiopian Airlines’ GCEO Tewolde GebreMariam. “Taking out paper from our logistics value chain is not only convenient and hassle free for customers, but it delivers more efficient operational excellence and achieves long-term sustainability goals. “Our online booking platform will be crucial in empowering direct cargo customers and forwarders with reliable access to our cargo capacity inventory.” Tags ethiopia airlines cargo

An innovative event connecting Diaspora and Local Experts kicked off in Addis Ababa

An innovative event connecting Diaspora and Local Experts kicked off in Addis Ababa Addis Ababa, Ethiopia, January 12, 2022 – An innovative event dedicated to connecting and inspiring diaspora with home-based experts from all sectors has officially started in Addis Ababa today. The event held under the theme “Connecting diaspora and home-based professionals to make a lasting Impact” showcased the power of effective partnerships in today’s fast-paced, interconnected world to provide ground-breaking results. The two-days impactful event is organized in a way to tap into the collective knowledge of the diaspora and local experts to provide INNOVATIVE Solutions for Ethiopia’s current and future challenges. During the opening ceremony Huria Ali, State Minister at Ministry of Innovation and Technology Highlighted that the government is focusing and making efforts in building a digital economy that will be led by the private sector, also assuring that the government will support the diaspora and the private sector’s work in the sector. In addition to this, the State Minister called on the Diaspora to engage in activities that generate foreign currency, Job opportunities for the youth while taking into consideration the demand at the Global Market. Organized by R&D Group, RBD Consultancy, and ORTEC Sports along with team and partners, Prosource HR Solutions, CAWEE, 251communications, This year’s event comes at the most opportune moment of the GREAT ETHIOPIAN HOMECOMING call by our government. Digital Transformation Program Office Digital Ecosystem and Regulatory Unit Director at the Ministry of Innovation and Technology, Khalid Ahmed for his part remarked that “The Diaspora should share experience and best practices for the private sector to be successful in Ethiopia” The director also added that the government is developing communications portal for the diaspora to create engagement structurally. With the aim to innovate Dutch international, Partners for Change (P4C) was founded in 2011 by our mother company RBD in The Netherlands. P4C brings diverse players together to learn from each other and to explore new strategies for partnership based on our belief that we are stronger together! To this end, P4C hosted +20 strategic events to empower professionals from all sectors with the tools needed to be more effective sustainability leaders and change-makers in Ethiopia and The Netherlands. Rahel Boon the Managing Partner of R&D on her part said that “Ethiopia is filled with energetic youth and we can utilize that energy to make changes and use the public private partnerships with an impact driven people from local expertise and diaspora. Success can come from willingness of people who want to impact life.” she also called up on the diaspora and the local experts. To fulfil the need to develop actionable solutions, this event incorporated hands-on ‘’Hackathon for Change sessions on women leadership, outsourcing, sport for change, Skill and employment, digitization and social entrepreneurship where experts with the right skill set are brought together to work collectively on solving strategic challenges “presented by purpose-driven Ethiopian leaders. Closing remark was delivered by H.E Ato Nigusu Tilahun, State Minister of Labor and Skills Ethiopia stating how their office is always opened to partner up on change driven projects and public private partnership, help the youth as well to develop their skills to produce market based demanded employable force. Since the inception in 2010, R&D Group has been committed to develop future leaders of Ethiopia by connecting them to opportunities through digital jobs, talent development and entrepreneurship acceleration to mention few. Today’s hybrid event (simultaneously virtual as well as in person), brought together 200+ carefully selected individuals from the diaspora and home-based experts from various sectors. -Ends- R&D Group | Yobek Commercial Centre 13th floor | PO Box 41583 | Addis Ababa | Ethiopia | +251 11 557 7382 | [email protected] | www.randdethiopia.com Tags ethiopia business news how to license business in ethiopia

Dangdang criticize Luckin coffee monopolizing over Hambella coffee

Dangdang criticize Luckin coffee monopolizing over Hambella coffee Recently, Dangdang, a Chinese electronic commerce company, criticized Luckin coffee’s purchase of nearly half of the available Hambell coffee beans, suggesting that the transaction may constitute a masked monopoly in the upstream supply chain. The METAD Agricultural Development PLC owns Hambella coffee, a family-run business, distinctive in that it comes from a single estate in Ethiopia located in the Oromia region, Guji Zone. Hambella coffee is from many smaller farms from around the region is processed and sold as a lot. The majority of coffees sourced from the areas are from washing stations or cooperatives. More than 90 tons of Hambella coffee beans were won by overseas bidding from the market share. Founder Li Guoqing believes that it is good enough to mix coffee beans for a coffee chain, and buying Hambella coffee beans will make those who make fine coffees have no beans supply or cause the price of fine coffee beans to increase substantially. Tags Dangdang Hambella coffee Luckin coffee

News Alert:  Central Bank Lifts Restrictions Placed on Bank Transfers

News Alert:  Central Bank Lifts Restrictions Placed on Bank Transfers The National Bank of Ethiopia lifts the limit placed on bank transfers. It was a rule introduced to discourage players in the informal exchange market. Customers of banks were not allowed to make more than five bank transfers a week since the beginning of last year. Frezer Ayalew, Director of Banking Supervision at the National Bank of Ethiopia, confirmed to the Reporter that the limit has been lifted now, effective as of January 05, 2022. “The transfer limit is now fully lifted with a directive,” Frezer told the Reporter. However, he affirmed that other restrictions, including the withdrawal limit introduced last year, are still applicable. Tags central bank of ethiopia

National Bank of Ethiopia Lifts Restrictions Weekly Bank Transfer Limit

National Bank of Ethiopia Lifts Restrictions Weekly Bank Transfer Limit The National Bank of Ethiopia lifts the weekly transfer limit placed on bank transfers. The restriction was imposed restrain & discourage agents who are engaged in the black market. Bank customers were not allowed to make more than five bank transfers a week since the beginning of last year. Frezer Ayalew, Director of Banking Supervision at the National Bank of Ethiopia, confirmed that the limit has been lifted now, effective as of January 05, 2022. However, he affirmed that other restrictions, including the withdrawal limit introduced last year, are still applicable. Tags CBE national bank of ethiopia telebirr

Ethiopian Airlines to Return to Argentina

Ethiopian Airlines to Return to Argentina On January 8, Ethiopian Airlines is said to return to Buenos Aires/Ezeiza (EZE), Argentina. Seven months have passed since Argentina restricted airline operations due to the rise of COVID-19 cases in Africa. Although other South American countries have suspended the return of any African airlines (due to the Omicron variant), Ethiopian Airlines’ return was originally planned for December 13. Ethiopian Airlines is scheduled to have three weekly flights from Addis Ababa (ADD), Ethiopia, with a stopover in Sao Paulo/Guarulhos (GRU), Brazil, in Boeing 787-8 aircraft (which has a capacity for 270 passengers). Following Qatar Airways and Emirates ceased operations in Argentina, Ethiopian Airlines is one of the most widely used airlines connecting to Southeast Asia, Africa, and Europe. Between January and July last year, it gave service to 3,545 passengers; in addition to its landing in 2018, it has carried 174,52 travelers. The value of Ethiopian Airlines can’t be understated to reach Argentina for numerous countries. Tags ethiopian airlines

Ethiopia’s birr black-market booms as diaspora influx

Ethiopia’s birr black-market booms as diaspora influx The conflict in Northern Ethiopia that took place in November 2020 has an indefinite economic crisis. with instability in most parts of the country, and it’s said to be one of the factors contributing to the skyrocketing exchange rate of the dollar in the past year. Presumably, the PM’s call for Diaspora is expected to inflow forex into the country. Most hotels, service givers, and different business sectors are opening a wide door for diaspora investment to encourage the dollar flow at a high rate. Since PM Abiy Ahmed came into power three years ago, the shortage of hard currency has been overlooked to the extent it was triggered due to the war. It is still not resolved, and the black market is anticipated to worsen the situation. the countries economy received a brutal hit with free trade cut-offs, import and export rates, and foreign direct investment traction. In 2020, Ethiopia imported goods worth around $13.11B and exported $3.5B, making it the number 127 exporter globally. Remittance from Diaspora has become the primary source of foreign currency in Ethiopia, securing $3.6B in remittance during the past fiscal year, which is equated with the amount of foreign exchange it garnered from international trade, according to the Ethiopian Diaspora Agency (EDA) disclosed Following the influx of the Diaspora in Addis Ababa, the black market has become increasingly volatile. The government, for its part, has shut down traditional and well-known black market shops but has failed to control individuals and institutions operating illegally through banks and other channels. Despite the Ethiopian government’s efforts to control black-market currency exchange, the attempt could not restrict the market’s propensity. Experts say that money laundering is not uncommon in other commercial banks. In Addis Ababa, it is known that banks are more involved in the illegal transfer of dollars than the shops that run the black market. Bank employees, notably Commercial Bank and Oromia Banks, have stepped up their efforts to increase the dollar’s value. In particular, Oromia’s banks are known to operate around the airport, forcing the Diaspora to accept the dollar. The government has not been able to repress the illegality of the black market, despite the recent looting of shops. In particular, the National Theater and its environs, the stadium and its surroundings, in front of the Gandhi Memorial Hospital, the Ethiopian Hotel, and various small shops in the Merkato area were the specific areas packed with black markets. Despite government crackdowns, money launderers have been active in and around banks. The black market people behind them are not affected by anyone. Addis Ababa, Adama, and Hawassa are among cities where exchange rates for hard currencies, including Euro, increased. Internationally, the war has had a significant impact on Ethiopia’s reputation as a place to invest; official statistics show the cost of essential consumer goods has indeed gone up in Ethiopia – they were around a quarter more expensive in July than a year earlier. Tags Ethiopian diaspora 1 COMMENT abebaw January 5, 2022 At 3:12 am so sad so sad Comments are closed.

The 4th annual Real Estate and Homes Expo kicks off in Addis Ababa.

The 4th annual Real Estate and Homes Expo kicks off in Addis Ababa.