Africa is emerging as a powerhouse in the global coffee trade reaching to 33.3% in May, with Uganda and Ethiopia leading a remarkable surge in exports that is reshaping the continent’s role in the world market.

According to the latest International Coffee Organization (ICO) report, global coffee exports rose 4.9% from May 2024 to 12.65 million bags, boosted largely by African producers. Uganda’s exports jumped 43.3% to nearly 800,000 bags, while Ethiopia’s rose 42% to about 980,000 bags. Together, the two countries accounted for more than 75% of Africa’s coffee shipments last month. 

Uganda surpassed Ethiopia as Africa’s top coffee exporter in May, shipping 47,606 metric tons compared to Ethiopia’s 43,481 tons. The surge earned Uganda USD243.9 million for the month, contributing to an annual export revenue of USD2.09 billion. However, the report noted that Ethiopia’s coffee production is currently in an “on” year of its two-year cycle, leading to an estimated increase of 500,000 bags.

Global coffee exports for the year to date fell to 91.29 million bags, a decrease from 93.44 million.

Three of the four major coffee-exporting regions posted growth in May, with Asia and Oceania leading the surge. The region exported 4.11 million bags, up 48.9% from 2.76 million a year earlier.

The ICO report also noted a 46.8% increase in roasted coffee exports in May, highlighting growing value addition within the sector.

Jemal Ahmed, chief executive of MIDROC Investment Group, has been named co-winner of the Industry Personality of the Year at the 2025 African Business Leadership Awards, held at the UK House of Lords.

The award recognizes Jemal’s sweeping influence across Ethiopia’s industrial and investment landscape, where MIDROC, under his leadership, has grown into one of the country’s largest and most diversified conglomerates, with operations spanning mining, agriculture, construction, pharmaceuticals, and manufacturing.

Presented during the 15th edition of the African Business Leadership Awards (ABLA), the honor places Jemal among Africa’s most impactful industrial figures. He shared the award with Ally Edha Awadh, founder and CEO of Tanzania’s Lake Oil Group.

Organized by African Leadership Magazine as part of the Africa Summit London, the ceremony brought together policymakers, investors, and thought leaders from across the continent and the UK. This year’s summit, themed “Africa Forward: Powering Leadership, Investment, and Competitiveness,” highlighted innovation and sustainability as key metrics for recognition.

Jemal’s recognition comes at a time when Ethiopia’s private sector is being called upon to shoulder greater responsibility in driving growth, job creation, and economic resilience. MIDROC’s investments in cement production, gold mining, and agro-processing have not only expanded domestic supply chains but also created thousands of jobs across the country.

At the awards dinner, Dr. Ken Giami, CEO of African Leadership Magazine, described winners as “catalysts of change in African enterprise, charting new paths toward inclusive growth.” Jemal’s leadership, he added, “mirrors the potential of African industry when anchored in vision, discipline, and national relevance.”

The ceremony was held at the historic House of Lords, an uncommon venue for African business recognition, symbolizing the growing significance of African-led enterprises on the global stage.

Jemal Ahmed has long maintained a low profile despite MIDROC’s towering presence in the region. This award may mark a shift, positioning him as not only a behind-the-scenes industrialist but also a continental voice on business leadership and investment strategy.

The ABLA awards are determined through a four-stage process involving public nomination, editorial screening, online voting, and verification of institutional impact. Jemal’s win was based on both popular support and documented contributions to industrial development.

MIDROC’s recent projects include expansions in gold refining, medical manufacturing, and logistics, sectors deemed strategic under Ethiopia’s new economic reform agenda.

Addis Ababa’s city government has announced that it collected ETB 233 billion in the just-ended fiscal year, meeting 96.5% of its annual revenue target. The figure marks a 57% increase compared to last year’s collection, showing a leap of ETB 83.3 billion.

Initially, the city had planned to raise ETB 241.4 billion in the 2024/25 budget year. While ETB 8 billion, mostly from expected support and credit, remains uncollected, officials say the results reflect robust progress in local resource mobilization.

Mayor Adanech Abiebie shared the update through her official social media channels, attributing the performance to collective effort and improved tax compliance. “This is a homegrown transformation, built on broad foundations and strengthened by solid pillars,” she said.

The city’s finance bureau had reported steady growth throughout the year. By mid-fiscal year, Addis had already collected 111.5 billion birr, surpassing 90% of its six-month target. By April, the nine-month performance stood at 98% of plan, buoyed by tighter tax auditing, increased e-payment adoption, and institutional accountability.

In early 2025, the city launched a quality-assurance unit within its tax audit department to correct unfair assessments and reduce leakages. Additionally, VAT return systems were overhauled, requiring staggered weekly filings by over 62,000 registered businesses to reduce bottlenecks and late penalties.

Ethiopia has reached an unprecedented milestone in its coffee export history, shipping 468,967 metric tons to the international market and securing USD2.653 billion in earnings during the past fiscal year. The achievement surpasses the nation’s own targets by a wide margin,144% in volume and 147% in revenue.

This record-breaking performance comes on the back of sweeping sectoral reforms and global market dynamics that have favored Ethiopia’s rich coffee heritage. Recent reports from the Ethiopian Coffee and Tea Authority highlight that the country expanded into 20 new international destinations while intensifying traceability systems and giving direct export rights to producers.

According to the U.S. Department of Agriculture’s Foreign Agricultural Service, Ethiopia’s total coffee production for 2025/26 is projected to hit 696,000 tons, a 9% jump year-on-year, while annual exports are expected to remain strong at 468,000 tons, aligning almost perfectly with the actual performance reported this year.

In the past 11 months alone, the country had already exported over 409,000 tons, thanks to streamlined logistics, improved contract transparency, and the launch of East Africa’s first national coffee tasting and training center in Addis Ababa.

The Central Bank of Russia has announced that, beginning July 10, 2025, it will start publishing official exchange rates for 12 additional foreign currencies, including the Ethiopian birr, against the Russian ruble. The move expands the list of currencies for which the central bank provides daily reference rates used for accounting, customs, and official transactions within Russia.

According to the announcement, the decision reflects a broader update in the regulator’s exchange rate policy framework. While it does not imply immediate changes in trade volumes or bilateral agreements, the inclusion of more currencies in Russia’s official rate list may support administrative and financial operations involving countries with which it maintains economic ties.

The addition of the Ethiopian birr comes as part of a larger group of currencies introduced in the update, which now exceed 50 currency pairs in total. The move follows ongoing developments in Russia’s currency and trade policy environment, particularly in expanding engagement with non-Western economies.

Since late 2024, the Central Bank of Russia has been refining its methodology by incorporating data from both exchange-traded and OTC (over-the-counter) segments, aiming to create more representative official rates

This supports Russia’s efforts to build alternative financial links with countries like Ethiopia, Iran, and Nigeria, many of which are part of or aligned with BRICS+ or the broader Global South.

The Information Network Security Administration (INSA) has unveiled that the country is actively phasing out international applications like Gmail, Telegram, and WhatsApp in favor of Ethiopian-developed alternatives. The move is part of a broader push to protect sensitive national data and reduce reliance on foreign-owned technologies that operate beyond Ethiopia’s legal and regulatory reach.

In an exclusive interview with Sheger FM, INSA’s sales expert, Eshetu, said the shift is not only about cybersecurity but also about national ownership of critical digital infrastructure. Among the flagship local platforms is “Ergamail”, a government email client currently deployed across federal institutions. For messaging and voice services, “Serkutni”, positioned as an Ethiopian alternative to WhatsApp and Telegram, is under implementation. For virtual meetings, “Debo”, another INSA-developed platform, is already being piloted.

Beyond communications, INSA has also developed critical software for tax collection and land registry. Eshetu pointed to the new electronic tax system, now used by the Ethiopian Revenues and Customs Authority, and a modernized cadastral registry system for land administration. The former is streamlining tax filing by eliminating paper trails, while the latter replaces outdated, map-heavy land verification processes with digital landholding records.

According to INSA, these tools are not just under development but already in use across key government agencies. They enable faster service delivery, boost operational efficiency, and protect classified information from external breaches. The agency says more platforms are under way, with the goal of replacing all foreign-based software used in public service delivery with fully local solutions.

Ethiopian Airlines is preparing to launch its inaugural direct flights to Australia, entering the continent that has not been landed by the airline. The planned service will operate from Addis Ababa Bole International Airport (ADD), though the specific Australian destination and timeline are yet to be confirmed.

In October 2024, CEO Mesfin Tasew announced that Australia would be among the airline’s new destinations within the next two years, highlighting the move as part of efforts to strengthen its global service and fleet size. Currently, Ethiopian Airlines operates flights to all continents except Australia .

Passenger demand data from OAG Traffic Analyzer for the year ending July 2024 identifies Melbourne (MEL) as the most viable destination from Addis Ababa (ADD), with nearly 6,000 round-trip travelers. Brisbane (BNE) and Perth (PER) trail far behind with approximately 1,000 passengers each. Sydney (SYD) data was not disclosed, likely due to volumes falling below the reporting threshold, but it remains a significant connection point via African hubs .

The CEO told EBR that the airline is considering the continent into its long-term roadmap, in line with Vision 2035, which aims to expand destinations to 207, double its fleet to over 250 aircraft and serve 65 million passengers annually.

Telila Deressa Gutema, the airline’s Regional Manager for the Asia-Pacific, has stated that preparations are well underway. The new route aims to strengthen Ethiopian Airlines’ global reach and position it as a competitive player in the intercontinental market.

The proposed Australian routes would be among the longest in Ethiopian Airlines’ network. However, the airline’s hub in Addis Ababa offers geographic advantages for eastbound flights and connectivity across the African continent, supporting its broader mission to position itself as a global connector.

The airline has not yet announced an official launch date.

Leaders of the BRICS nations gathered in Rio de Janeiro this weekend to press for significant reforms in global governance, focusing on the International Monetary Fund (IMF) and United Nations (UN) systems. The expanded bloc, now comprising 11 member countries, called for a more equitable international order that reflects current economic realities and the growing influence of the Global South.

The 17th BRICS Summit culminated in a 31-point joint declaration urging major global institutions to modernize their governance frameworks. Finance ministers agreed on a landmark proposal to realign IMF voting rights based on economic output and purchasing power, aiming to give emerging economies a stronger voice in international financial decision-making.

“The world is changing, and so must the institutions that govern it,” said Brazil’s President Luiz Inácio Lula da Silva, chairing the summit under the theme “Inclusive and Sustainable Global South.” He emphasized the importance of cooperation among developing nations to reshape global systems long dominated by Western powers.

Ethiopian Prime Minister Abiy Ahmed, attending the summit, highlighted the crucial need to improve decision-making processes at international financial institutions. He noted that successful cooperation relies on institutions that foster mutual trust and collective security.

“Our global financial institutions need improved decision-making mechanisms,” Prime Minister Abiy said in remarks shared by his office. “Institutions that promote trust and cooperation among nations are essential for achieving sustainable and effective partnerships.”

He further stated that BRICS has evolved into a strong force for global change, strengthened by the addition of new members. “With the inclusion of new countries, our collective voice grows stronger, and our shared objectives become clearer and more impactful.”

BRICS members also condemned the rise of protectionist policies, expressing concern over the uncertainty tariffs bring to international trade. The group reiterated its opposition to any unilateral actions that undermine multilateral cooperation and economic stability.

The summit further addressed geopolitical tensions in the Middle East, condemning recent military strikes on Iran and Gaza as violations of international law. While avoiding direct naming of responsible parties, the bloc called for peaceful dialogue and respect for sovereignty.

On the climate front, the leaders urged wealthy nations to increase funding for global climate initiatives. They backed Brazil’s “Tropical Forests Forever” fund as part of efforts to balance environmental protection with the developmental needs of emerging economies.

Ethiopia’s Council of Ministers has approved a bilateral agreement with the Federal Republic of Nigeria on the issuance of diplomatic and service visas. The decision was made during the Council’s 48th regular session on July 4, 2025.

The agreement facilitates the streamlined issuance of visas for officials and diplomats traveling between the two countries, reflecting a commitment to removing procedural barriers that often hinder smooth diplomatic interactions. By easing visa formalities, Ethiopia and Nigeria aim to foster closer political, economic, and cultural ties.

Alongside this diplomatic milestone,  the Council endorsed two foreign loan agreements totaling approximately $486 million USD (equivalent to 285.4 million Special Drawing Rights (SDRs)). One loan is directed toward financing Ethiopia’s second Sustainable Development Policy, while the other is allocated to road sector development. Both agreements come with a 0.75% service charge and a six-year grace period, although the financing institutions have not yet been disclosed.

In legislative matters, the Cabinet also greenlit reforms to the Income Tax Proclamation, designed to modernize Ethiopia’s tax system and better align it with evolving domestic and global economic realities. The revised law is slated for submission to the House of Peoples’ Representatives for further consideration.