The USAID Hub creates videos to showcase East African firm capabilities and development outcomes, with a focus on African Growth and Opportunity Act (AGOA) sourcing opportunities. For a roundup of our apparel and coffee sourcing videos, click here.
Ethiopia, one of the fastest growing non-oil producing economies in Africa is planning to create employment opportunities to cut the high rate of unemployment. Addis Ababa City Administration plans to create 161,000 jobs for its citizens. Their vision is in line with the 2017/18 financial year plan. The country’s economy is rapidly growing and should be able to execute its goal soon. Read more. Source | The exchange
The USAID East Africa Trade and Investment Hub based in Kenya has been facilitating companies in East Africa to access markets in the US. This month, the Hub has supported nine firms from Ethiopia and Madagascar at the International Food Technologists (IFT) Expo in Chicago, U.S.A. The expo included food ingredient, equipment, processing, technology and packaging suppliers, bringing together approximately 1,200 exhibitors and 23,000 attendees interested in the science of food. Read more. Source | The Exchange
Having made the headlines for all its commendable efforts to be East Africa’s investment hub, there seems to be a leak in one of its sectors. The nation has done well in attracting investors, opening its economy to the public and exposing itself to greater opportunities geared towards making it a success regionally. With the Government reading the country’s budget, a number of changes have been looked into to revive the economic prowess of the State. Read more. Source | The Exchange
Ministry of Industry (MoI) said that it is putting various activities in to practice in order to meet the 2025 International Buyers Binding Law/ Agreement of responsible cotton production under the compulsory sustainable cotton producing principle.
Zerihun Abebe, Director of Textile and Garment Industry Sector Study, Follow up and Support within the Ministry stated that as per to the law, the cotton cultivated within the country should be produced considering the environmental and social aspects that might cause on societies. Read more. Source | Ethiopian Herald
Ethiopia has registered a slight dip in the amount of Foreign Direct Investment for 2017, but still was able to absorb half of all $7.6 billion investment for East Africa.
According to World Investment Report of the United Nations Conference on Trade (UNCTAD), FDI flows to Africa slumped to $42 billion in 2017, a 21 per cent decline from 2016 with weak oil prices and harmful ongoing macroeconomic effects singled as causes of the lower funding. But on a consoling note, even all of global FDI has slowed in the last year. Read more. Source | The Exchange
The Ethiopia Economic Update is a publication by the World Bank. It discusses Ethiopia’s growth strategy, emphasizing the sustainability of the country’s investment-focused and export-led growth model.
The publication also looks at the interlinkages between manufacturing and services, with a special focus on the role of distribution services in promoting Ethiopia’s export competitiveness and eventually its structural transformation.
Ethiopian Airlines had made it clear in the early days of February 2018 that it seeks to launch directs flight to Chicago this year to bridge the gap of travelers between the two continents. The Ethiopian has been on scintillating form, fending off its competitors in Africa and establishing its brand as the top-notch airline in the continent. Kenya Airways, among other airline companies have not been able to keep the pace of the competition in the aviation industry giving the Ethiopian too much credit and accolades for its hard work. Read more. Source | The Exchange
Agricultural productivity is closely related to increased utilization of inputs, particularly improved seeds and chemical fertilizers which are key inputs in boosting agricultural production. From time to time, the consumption agricultural fertilizer has been increasing in Ethiopia. Supplying agricultural inputs and fertilizer managing its price is an essential task to get better of farmers’ productivity constraints.
Alemayehu Birhanu, Communication Director at Ministry of Agriculture and Animal Resource told The Ethiopian Herald that to increase the production and productivity of farmers, the timely supply of agricultural inputs with quantity, quality, and affordable price is instrumental. It is also important to expand agricultural service delivery. Read more. Source | Ethiopian Herald