Ethiopia Secures over 300 Million USD from Horticulture ProductsEthiopia has earned 318 million USD from the export of flowers and other horticulture products in the concluded fiscal year, which ended July 7, 2019.

Ethiopian Investment Commission (EIC) Public Relations Director, Mekonnen Hailu said that the east African nation generated $261 million USD form the export of flowers and the remaining $57 million USD was secured from vegetables, fruit and herbs export.

The export of Ethiopia’s horticulture products has been increasing steadily from time to time and especially the flower sector takes the lion’s share in generating huge amount of the foreign currency, he added.

Netherlands, Saudi Arabia, UK, USA, Japan, Norway, Germany, UAE, Belgium and Italy were the main export destinations of Ethiopian horticulture products.  

More than 100 companies have been engaged in cultivation of flowers, fruit and vegetables as well as herbs and supplying high quality products to the international market, according to the Public Relations director.

So far, the horticulture export industry has created job opportunities for over 100,000 citizens in different parts of the country, it was indicated.

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Nation Striving to Create Favorable Environment to Private Sector Create Jobs EIC CommissionerEthiopia has been exerting efforts to ease the bureaucratic bottlenecks that hamper the growth of the private sector that creates jobs.

Ethiopian Investment Commissioner, Abebe Abebayehu said many activities have been carried out to increase the engagement of the private sector and bring the economy together through creating forums which help to share best practices.

He added that the reform under way is aimed to create conducive business and investment environment for the private sector.

The commissioner emphasized on the need to create favorable and affordable surrounding for investment in order to encourage the youth to engage in their own enterprises.

The government is, therefore, working hard to create enabling surrounding for the private sector so that it could be competitive and more productive to create jobs and lower youth unemployment, Abebe elaborated.

He added that the old investment proclamation is being reviewed in order to remove constraints on foreign direct investment flow and the integration of local investors and foreign companies.

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Ethiopian Minister Jack Ma Discuss Ways to Build Nations Digital EconomyEthiopian delegate led by Minister of Innovation and Technology Dr.-Ing. Getahun Mekuria met and held discussion with Jack Ma, Chairman of the Alibaba Group.   

While visiting the headquarters of Alibaba Group in China, the Minister and Jack Ma discussed ways to build Ethiopian digital economy.

They discussed the future of disruptive technologies on markets and society, it was indicated.

During the discussion, Jack Ma, a Chinese business magnate, agreed to consider potential investment in technology that will improve the daily lives of the people in the east Africa nation, according to Africa Business Networking.

In April, Ethiopian Prime Minister Dr Abiy Ahmed and his delegation visited the HQ of the e-commerce giant Alibaba, in Hangzhou, China.

Source: Africa Business Networking

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Ethiopia and Nigeria to Lead in Mobile Subscribers in Sub Saharan AfricaEthiopia and Nigeria are expected to lead in mobile subscribers in Sub-Saharan Africa by 2025, according to Africa Business Networking.

A new study from the GSMA has revealed that more than 160 million new mobile subscribers will be included in the region.

Accordingly, the number of mobile subscribers in Ethiopia will grow by 11 percent, while showing a 19 percent increase in Nigeria, the study indicated.

The Sub-Saharan Africa will remain the world’s fastest-growing mobile region over the coming years as millions of young African consumers become mobile users for the first time, according to the study.

It reveals that over 160 million new unique mobile subscribers will be added across the region by 2025, bringing the total to 623 million, up from 456 million in 2018.

The study calculates that the mobile ecosystem across Sub-Saharan Africa generated almost $150 billion in economic value last year – equivalent to 8.6 per cent of the region’s GDP. It is forecast to generate almost $185 billion (9.1 per cent of GDP) by 2023.

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Ethio India Business Forum Held in Addis Ababa EthiopiaEthio-India business forum that brought 40 Ethiopian and Indian companies together was held in Addis Ababa.

Ethiopia’s Ministry of Foreign Affairs (MFA) statement said the business forum meant to attract foreign direct investment (FDI) and enhance business to business (B2B) ties between Ethiopia and India.

During the occasion, Ambassador Dawano Kedir, Economic Diplomacy Permanent Representative at Ethiopia’s MFA, remarked that the economic reform being undertaken in the country plays a crucial role in attracting foreign direct investment (FDI) and enhancing the role of the private sector.

The business forum is necessary to further cement the long-standing and historical ties between the two countries, he added.

General Secretary of Indo African Chamber of Commerce and Industry, Mrs. Sunanda Rajendran, commended Ethiopia’s efforts to create conducive business and investment environment.

She further stated that Indian investors are keen to invest in Ethiopia in textile, innovation technology, food and dairy processing and information technology sectors, it was indicated.

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