@EthiopianBusiness – Ethiopian Business Review

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Members of the Standing Committee on Agricultural Affairs of Ethiopia’s House of People’s Representatives have praised Daye Bensa Coffee and Tasty Specialty Coffee PLC for their innovative approach to modernising coffee production during a recent tour of their operations in Addis Ababa.

Committee Chairman, Solomon Lale, commended the two companies for their use of advanced technologies in processing, highlighting the high standards of quality and efficiency they have set. “Daye Bensa and Test Specialty Coffee are leading by example in Ethiopia’s coffee export industry. Their technological advancements and commitment to quality are crucial in elevating the sector,” he remarked.

The MPs noted the positive impact of the Ethiopian Coffee and Tea Authority’s reforms over the past four years, which have helped address long-standing challenges in the coffee sector, especially in quality assurance and stakeholder collaboration. As a result, Ethiopia has seen a noticeable increase in revenue from coffee exports.

During the visit, both companies acknowledged the support provided by the Ethiopian Coffee and Tea Authority but also raised concerns about operational challenges, including power shortages, limited space, and transport access. The MPs assured the companies that these issues would be raised with relevant government bodies for resolution.

Dr Adugna Debela, Director General of the Ethiopian Coffee and Tea Authority, reaffirmed that the Authority’s reform efforts will continue to be consolidated. As part of this, the Authority’s office is undergoing a complete renovation to create a more modern working environment. Additionally, a new helpline will be launched next week to provide vital information to actors throughout the coffee value chain.

Chief Advisor Dr Shafi Umer also presented the Authority’s nine-month performance report, revealing that Ethiopia has earned an unprecedented USD1.5 billion in coffee export revenue this year, further underlining the success of the ongoing reforms.

Dashen Bank has made history by becoming the first private bank in Ethiopia to secure a Trade Finance Guarantee Facility Agreement worth USD 40 million from the African Development Bank (AfDB). The agreement was officially signed this morning at Dashen Bank’s headquarters, marking a major milestone for both the bank and Ethiopia’s financial sector.

The signing ceremony was attended by key representatives from Dashen Bank and AfDB. Asfaw Alemu, CEO of Dashen Bank, expressed pride in securing this facility, noting that it is the first of its kind to be extended to a private bank in Ethiopia. He emphasized that Dashen Bank is honored to serve as a bridge to bring this significant opportunity to life. Asfaw further highlighted that the agreement symbolizes strategic alignment that helps unlock Africa’s full potential. He attributed the successful securing of this facility to Dashen Bank’s rigorous due diligence, operational soundness, and progress in governance, underscoring the bank’s strong strategic direction.

Dr. Leandre Bassole, Deputy Director General of East Africa at the AfDB, expressed the agreement’s importance, calling it a pivotal milestone in strengthening the partnership between the AfDB and Ethiopia’s financial industry. Bassole noted that the agreement will play a significant role in advancing inclusive, private sector-led growth in Ethiopia, emphasizing that it marks the first direct trade finance guarantee facility the AfDB has provided in the country.

This facility will enable Dashen Bank to facilitate import and export trade finance requirements, thereby enhancing the bank’s capacity to support critical sectors of the Ethiopian economy. It is expected to significantly bolster trade finance by providing guarantees to confirming banks for non-payment risks arising from trade finance instruments such as letters of credit issued by Dashen Bank. This initiative responds to the challenges faced by Ethiopian banks, which have been constrained by inadequate credit lines from international confirming banks, limiting their ability to support clients effectively.

The facility is also expected to promote intra-Africa trade, aligning with the African Continental Free Trade Area (AfCFTA) agenda. It will help address the financing gaps in critical sectors and support the import of essential goods such as fertilizers, pharmaceuticals, solar energy panels, and agricultural machinery, all crucial for Ethiopia’s development.

Safaricom Ethiopia has emerged as a standout player within the Vodacom Group, securing two prestigious awards at the Vodacom Group External Relations 2025 Conference, held from April 7-10 in Fancourt, George, South Africa. The company was recognized for Best Stakeholder Engagement Leadership and Best Youth Empowerment Partner, affirming its growing influence across the continent.

The accolades highlight Safaricom Ethiopia’s strategic leadership and social impact, particularly in its efforts to build trust with key stakeholders and advance youth-focused initiatives. The recognition comes as the company continues to cement its role in Ethiopia’s digital and economic transformation, just over two years since launching operations.

The annual conference brought together Vodacom’s external relations teams from eight markets—Ethiopia, South Africa, Kenya, Mozambique, Tanzania, Egypt, the DRC, and Lesotho—alongside delegates from Vodafone UK, Safaricom Kenya, GSMA, consultants, and leading industry experts. The forum provided an opportunity to share innovative practices, deepen cross-border collaboration, and celebrate exceptional performance.

Ethiopia’s mining sector has shattered expectations with a gold export boom in the 2024/2025 fiscal year. Official reports reveal Ethiopia exported 22.5 tons of gold in just eight months – nearly four times its 6-ton target.

This stellar performance positions Ethiopia to potentially join Africa’s top gold exporters. At the current pace, year-end exports could reach 33 tons, significantly boosting foreign currency reserves.

The mining sector has emerged as Ethiopia’s export champion, contributing the lion’s share of USD1.88 billion in total export earnings. However, the sector faces structural challenges, with artisanal miners producing 95% of output through traditional methods.

To address these challenges, the government plans to operationalize small gold processing factories. This move aims to increase production efficiency while formalizing the largely informal sector.

The gold export surge comes at a critical time for Ethiopia’s economy. While the windfall provides immediate relief to forex reserves, long-term success depends on transitioning from artisanal to industrial mining practices.

Minister Habtamu Tegegne presented these findings during a review of the ministry’s eight-month performance. The report highlights both the sector’s potential and the need for sustainable development strategies to maintain growth.

Ethiopia’s negotiating team has returned from the 5th Working Group Meeting for WTO Membership in Geneva, Switzerland, after securing significant progress in the country’s long-awaited bid to join the global trade body. Minister of Trade and Regional Integration, Dr. Kassahun Gofe, addressed the media in a press conference today, highlighting the fruitful outcomes of the meeting.

Dr. Gofe emphasized that Ethiopia’s successful participation was the result of thorough preparation, recognizing the hard work required for WTO negotiations. At the meeting, Ethiopia received support from 19 countries, signaling increasing global confidence in the country’s reform efforts. “We have not only created a platform to achieve WTO membership in a short time, but we’ve also earned the trust of the organization’s members,” Dr. Gofe stated.

The Minister also explained that Ethiopia’s lengthy application process, which has taken over two decades, was due to the country’s previous “very protectionist” economic policies. “You can’t access WTO membership by closing the economy to foreign players,” he said. Dr. Gofe highlighted that the ongoing economic reforms in Ethiopia, which have opened the country up to foreign investment and trade, are pivotal to securing membership.

Looking ahead, Dr. Gofe emphasized the national benefits that WTO membership will bring. While there may be some initial impact on government revenue, he assured that it would not harm the economy. “Beyond this, it will expand the market for Ethiopia’s products,” he said, reinforcing the long-term advantages of global trade integration. He confirmed that the country is working toward full membership at the WTO Ministerial Conference in Cameroon in 2026, with the 6th Working Group Meeting set for July.

In a remarkable celebration of its 130th anniversary, Ethio Telecom has been showering its customers with incredible prizes since September 22, 2024, through the Ethio 130 Mega Promo and Ethio 131 Laki Slot Prize Program. As part of the ongoing festivities, today the company awarded two modern BYD electric cars and five 3-wheeled vehicles to lucky winners.

The giveaway includes one BYD electric car for 393,375 special customers selected in a lottery, alongside three 3-wheeled vehicles for 540,566 lucky participants. In addition, as part of the Ethio 131 Laki Slot Prize Program, another BYD electric car was presented to 226,970 winners, with two more 3-wheeled vehicles handed to 407,200 lucky individuals.

This isn’t the first time Ethio Telecom has distributed prizes through its celebrations. Previously, two electric cars were awarded to customers in Addis Ababa and Weliso, while three 3-wheeled vehicles went to winners in Harar, Arsi Negele, and Hosanna.

The prizes don’t stop there—over the past five months, Ethio Telecom has given away 141 modern smartphones, 10.56 million birr in TeleBir electronic money, and 1.18 million mobile packages, totaling an impressive 49.45 million birr in prizes.

MPs Laud Daye Bensa and Tasty Specialty Coffee for Modernising Coffee Production

Dashen Bank Becomes First Private Bank in Ethiopia to Secure Trade Finance Guarantee from AfDB

Safaricom Ethiopia Wins Double Recognition at Vodacom Group External Relations Conference 2025

Ethiopia’s Mining Sector Contributes USD1.88 Billion in Exports, Led by Gold

Ethiopia’s WTO Membership Bid Gains Momentum with Support from 19 Countries

Ethio Telecom Hands Over Electric Cars and 3-Wheeled Vehicles in New Prize Giveaway