African Business News

East Africa: Time for Ethiopia to Enhance Regional Economic Integration

International trade never used to be an issue, at least, not one borne out of apathy or misrepresentation. Ancient civilisations seldom traded with outsiders, but rarely because they did not want to.

The malefactor was inconvenience, owing to the fact that transporting anything from point to point used to be such a headache. But as technology caught up with traders' ambitions, as mail services, shipping, road and air travel became simple, and in some cases, informal, trade between whole countries and continents became the sensible way to go.


Belarus Seeks Trade Partners In Form Of Zimbabwe And Burkina Faso

According to the National Statistics Committee (Belstat), the trade turnover between Belarus and Egypt, the key partner country on the African continent, increased by 140.6% and amounted to $ 41.6 million during the period. Egypt is on the rather extensive list of African countries, where the supply of Belarusian products is increasing. In January-May 2017, it grew by 3.4 times ($ 26.4 million), Your Country’s Tomorrow writes.

The export from Belarus to Angola increased by 54 times (up to $ 31 million), to Zimbabwe – by 57 times($ 12.8 million), to Cameroon – by 16 times ($ 3.3 million),


Ethiopia Sets $US30 Billion Textile Export Target for 2030

Ethiopia has set a target of $US30bn in export earnings by 2030 for the country's fledging textile and garment sector. The Ethiopian Ministry of Industry made the remarks during a workshop to promote the Ethiopian textile industry.

Ethiopia has nearly 175 textile units, however, the country is in the throes of developing several major textile parks. Indeed, Ethiopia attracted investments of US$1.2 billion in the first six months of the current Ethiopian budget year despite being under a state of emergency. Among the investment, money poured in from ten leading Chinese companies, half which are licensed in textile and garment manufacturing industries, according to the Ethiopian Investment Commission. Investors included Jiangsu Sunshine Group, which engages in wool textiles and garments as well as a range of other sectors. The business has decided to invest close to US $1 billion in Ethiopia.


Establish brands to boost garment export, expert urges

USAID West Africa Trade and Investment Hub Consultant Mr. Musa Rubin has urged garment exporters to establish brands to boost their trade.

He spoke at a workshop organised by the Trade Hub and Nigerian Export Promotion Council (NEPC) in Lagos.

Rubin discussed the diversity of the United States (US) market, where over 50 million people spend an average of $1,000 per person on garments yearly.

“As Nigeria is closer to the U.S. than Asia, it offers a particular geographic advantage. We don’t have to go through the Suez Canal or around Africa; it is just a straight shot,” Rubin said.


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