HAVE ANY QUESTIONS? CLICK HERE
Dembel City Center, Africa Avenue - 10th floor
Address
+251-11-8-22-36-66
Office

News & Blog

Ethiopia and China are set to partner to build a new, 300 million U.S. dollar industrial park in the east African country.

Liu Yu, economic and commercial counselor at the Chinese Embassy in Ethiopia, told Xinhua recently that construction of the park, located in Adama city, 99 km southeast of Addis Ababa, could start before the end of 2019.

Liu said 85 percent of the funding needed to build the industrial park will be covered through Chinese government concessional loans while the rest 15 percent will come from the Ethiopian government.

"The planned industrial park will focus on attracting firms engaged in equipment manufacturing," Liu said, noting that work is being done to conclude land acquisition and financing-related procedures.

It will be the second industrial park in Adama city, a key commercial hub in central Ethiopia, with Chinese finance and expertise.

"The governments of China and Ethiopia have attached great importance to their cooperation in various fields including in construction of industrial parks, whereby they have achieved fruitful results," Liu told Xinhua.

The first Adama industrial park, which was built by China Civil Engineering Construction Corporation (CCECC) at a cost of 146 million dollars, was inaugurated by Ethiopian Prime Minister Abiy Ahmed in October 2018.

Covering 100 hectares of land, the industrial park is expected to create job opportunities for around 25,000 Ethiopians and is part of Ethiopia's grand plan to transform its largely agrarian economy into an industrialized one by 2025.

Source: http://www.china.org.cn/business/2019-08/13/content_75094416.htm

The Ethiopian government and Korea disclosed its plan to build a coffee park as part of the national plan to promote Ethiopia’s specialty coffee products to the international community.

 

The planned Coffee Park, which will be built jointly by the Ethiopian and South Korean governments at a cost of 50 million U.S. dollars on 30 hectares of land in Ethiopia’s capital Addis Ababa, is expected to “play an important role towards promoting Ethiopia’s coffee to the international community,” state-affiliated Fana Broadcasting Corporate (FBC) quoted Hyiru Nuru, market information and control director at the Ethiopian Coffee and Tea Authority, as saying on Tuesday.

According to Nuru, the new coffee park, which will have a coffee museum and coffee market center, as well as various other facilities, will take three years for completion.

The plan to build 50 million U.S. dollars coffee park is also said to be part of Ethiopia’s grand plan to penetrate the international coffee market through various initiatives.

Last week, the Ethiopian government had also unveiled a new initiative to establish a national umbrella coffee brand to boost the East African country’s share of coffee export in the international market.

The new national initiative, dubbed “Ethiopian Coffee,” mainly aimed to spur the acceptance of Ethiopia’s coffee in the global market, according to the Ethiopian Coffee and Tea Authority.

The ECTA, which has been developing the new umbrella Ethiopian coffee brand, also said that the new government-led initiative would enhance the current “weak international presence and image” of Ethiopia’s major coffee varieties, such as Yirgacheffe, Harrar, and Sidamo coffee.

Adugna Debella, ECTA’s Director-General, who noted the new brand of Ethiopian Coffee to have “paramount importance for developing the coffee sector,” also stressed that the new initiative would help the East African country to decide and negotiate the price of coffee in the international market.

Source: https://africa.cgtn.com/2019/08/14/ethiopia-to-build-50-million-coffee-park-to-promote-local-coffee-products/

Ethiopia Commodity Exchange (ECX) announced that it shared its experience in modern trading systems to the officials of Mozambique Commodity Exchange and Reserve Bank of Malawi for three days, August 13 – 15, 2019.

The Topics on which ECX’s senior management shared their experience include compliance, warehouse, quality and trade operations; trade and warehouse surveillance, clearing and settlement and business information dissemination. The guests also paid a visit to the central laboratory, trading platform, and the Exchange’s Addis Ababa branch. The two organizations, in turn, shared their experiences in the operations of commodity exchange and regulatory activities.

This engagement, ECX said in a press release, paves the way for integrating the African Exchanges to engage jointly in intra-continental modern trading. The recent Africa Free Trade Agreement, regional economic integration and other multi-lateral economic agreements between African countries are unexploited opportunities to African Exchanges to establish bilateral and multilateral agreements with each other to facilitate the modern agricultural and industrial commodities trade system. This, ECX observes, in turn, creates more market access to African farmers and companies to trade with each other. The Exchange further noted Ghana, Tanzania, Rwanda, and other Exchanges have been established after grasping the Ethiopia Commodity Exchange experience, as ECX is serving as a center of excellence for African Commodity Exchanges.

ECX also stated it is striving to establish its own ECX Academy in the present fiscal year to conduct well designed and tailored trainings, further noting that it expects local traders, baristas, cuppers; as well as the staff of the African Exchanges to exploit the opportunity to be provided by the academy. Chairwoman of the Mozambique Commodity Exchange, for one, has expressed her interest in sending technical staff from the Mozambique Commodity Exchange to ECX for in depth training.

Source: https://www.2merkato.com/news/alerts/5797-ethiopian-commodity-exchange-shares-experience-to-african-exchanges-plans-to-start-training-academy

Fairtrade Premium Committee, a committee that distributes funds it received from Fairtrade to producers who work on farms, has been registered under the amended Civil Societies Proclamation.  

Sher Ethiopia, located on the outskirts of Ziway town and a Fairtrade certified producer organization, has now registered its premium committee. Dummen orange found in Koka town, Oromia Regional State, which is also a Fairtrade certified farm, has also finalized its registration process and is expecting to receive its certificate of recognition soon.

Fairtrade Africa is an independent, non-profit umbrella organization representing all Fairtrade certified producers in Africa and the Middle East. It has various certified products in Africa and the Middle East including gold, sugar, wine, banana, cocoa, vanilla, tea, coffee and flowers. In Ethiopia, seven Coffee Farmers Cooperatives Unions, six Flower farms and one Juice farm are Fairtrade certified.

The organization works on making trade fair, empower small producers and workers and foster a sustainable livelihood. Producer organizations are certified by Fairtrade standards set by Fairtrade International. FLOCERT, which is wholly owned by Fairtrade international, but an independent body, provides audit and certification services. The requirements include ethical production, environmental protection, health and safety, protection of workers’ rights and gender equality.

On the consumers’ side, there are NFOs (National Fairtrade Organizations) that are mostly based in European countries responsible for campaigning, promoting and advocating for Fairtrade and its certified products in their respective markets.

Apart from Fairtrade Minimum Price, which is the minimum that must be paid to the producers; producers will get an additional sum called Fairtrade Premium to benefit their workers and their communities (10 percent of the sales). The premium money is administered by Fairtrade Premium Committees in the certified producer organizations who are recipients of the fund. However, these committees are required to be legally registered to access the funds.

Almost every Fairtrade certified producers across the continent and the Middle East has a legal scheme that registers and recognizes the committees, except in Ethiopia, creating a challenge for Fairtrade Africa and its certified producers in Ethiopia until the current amended law addressed the gap.

“There have been a lot of challenges in getting the Fairtrade committees registered in order to access the premium funds due to the former restrictive CSO law in the country. Workers were complaining about the use of the funds because they knew that these funds are brought from the flowers they are producing and want to benefit from it,” Mosisa Teferi, Fairtrade Officer (FTO) at Dummen Orange in Ethiopia, told The Reporter.

However, now, after the amendment of the CSO law that lifts the restriction on the registration of such committees, the farm was able to get the committee registered and access the premium funds.

Furthermore, Mosisa explained that the committee at Dummen orange will soon start implementing various projects with this fund, benefiting the workers and the community at large.

As part of these move, Fairtrade Africa, under Dignity for All (D4A) Impact program, Flower projects funded by the Ministry of Foreign Affairs (MFA) of Finland, held a capacity building training for Fairtrade premium committees and trade union officials on the proper premium use, Fairtrade standards, roles of trade unions and stakeholders. 

Source: https://www.thereporterethiopia.com/article/fairtrade-premium-committees-secure-registration-unlock-funds

 

logo_color.png
  • Africa Avenue Street
  • Dembel City Center, 10th Floor 
  • Office: +251 118223666     
  • info@lucypartners.com

Newsletter

Subscribe for financial and related update for every month.

© Copyright 2020 Lucy Partners. All Rights Reserved.
Website developed @ BEKI Square

Search