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#DjiboutiPorts Djibouti’s displeasure with a new port performance index is compounded by broader global trade dynamics. The COVID-19 pandemic has accelerated trends like supply chain diversification and near-shoring, placing additional pressure on ports to adapt. Djibouti's strategic importance, particularly as the primary entry point for Ethiopian goods, makes its efficiency crucial. The report has sparked a wave of indignation from Djiboutian officials, exposing the tension between reported metrics and perceived performance.
Read more https://ow.ly/2m3c50SgF2Z
Welcome to Addis Fortune’s latest business and economic digest. In this edition, we cover Djibouti's criticism of the World Bank's port rating, the dramatic turnaround of a policy bank amidst controversial policies, Oromia's new land lease rates boosting flower farming, Parliament's scrutiny of the Transport Ministry over the fuel subsidy program, and Global Insurance's successful venture into Sharia-compliant insurance.
https://www.linkedin.com/pulse/five-big-stories-vol-25-12578-addisfortune-xvqzf
Five Big Stories Vol. 25, No. 12578
Djibouti Blasts World Bank's 'Unjust' Ports Rating, Accuses Bias The World Bank's latest Container Port Performance Index is criticised by the Djiboutian authorities after their port performance plummeted from 26th to 379th globally. The report reveals systemic issues, outdated equipment, and inadeq
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#BankingSector DBE has approved 44.6 billion Br in new loans over the past nine months, with large allocations to the manufacturing (68.43pc) and agriculture (14pc) sectors. The renewed lending activity is poised to drive growth in key economic areas, demonstrating DBE’s role in supporting national development goals, according to its President, Yohanned Ayalew (PhD).
Read more https://ow.ly/Fjrp50SgEEm
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Ethiopia has seen major success in flower exports since the mid-2000s, reaching 225 million dollars in 2015 and over half a billion dollars last year. However, FDI rates have declined, dropping by 16.4pc to 3.3 billion dollars.
Read more https://ow.ly/AyH450SgE74
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𝐀𝐃𝐕𝐄𝐑𝐓𝐈𝐒𝐄𝐌𝐄𝐍𝐓: ለማንኛውም አስተያየት፤ ጥያቄ ወይም ጥቆማ በባንካችን የደንበኞች አገልግሎት መስመር #8292 ላይ ይደውሉ!
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𝐀𝐃𝐕𝐄𝐑𝐓𝐈𝐒𝐄𝐌𝐄𝐍𝐓: ውድ የገጻችን ተከታታዮች፣
የዳሸን ባንክ ትክክለኛ የማኀበራዊ ገጾችን ይከተሉ፣ ያጋሩ፡-
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Outdated regulations leave both drivers and riders unsure of their rights and protections, with the City Transport Bureau working on a new directive to address it. Worqu Desta, deputy head of Service Research at the Bureau, said trips would be traced simultaneously by the company and the Bureau under the system being developed, which he hopes will lower the danger potential.
Read more https://ow.ly/pkSL50SgCOg
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BEREKET BALCHA: Intrigued by the guest, Brook Taye (PhD), director general of Capital Market Authority, I clicked play on a YouTube video. What unfolded was not the usual studio-type interview, but a refreshingly laid-back conversation that challenged my perception of podcasts altogether. Even at two and a half hours, discussions on the Ethiopian capital market remained engaging.
Read more https://ow.ly/vGv750SgCGg
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Regulators at the National Bank of Ethiopia (NBE) has rolled out a series of new directives targeting the banking industry, including the preemptive introduction of an "unlikely to pay" category to identify loans at risk of turning into non-performing loans (NPLs).
They have also capped the total exposure to a single borrower at 25pc of a bank's total capital, with a further limitation of 15pc for exposure to related parties.
Read more https://ow.ly/xafc50ShgB8
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#CostOfBorrowing The T-bill market, reformed a few years ago to better reflect market interest rates, saw substantial growth in the fourth quarter of the fiscal year 2022/23. The total supply of T-bills offered at bi-weekly auctions soared to 425.0 billion Br, marking an extraordinary 111.1pc annual increase. Demand for T-bills also rose, reaching 148.1 billion Br, a 23.3pc increase from the previous year. This growing dependency on T-bills for short-term financing raises concerns about the government’s fiscal strategies and economic stability.
Read more https://ow.ly/8wag50SgC0E