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Lifan proposes to export coffee, sesame to alleviate Forex shortage

Unveils new brand, targets high-end vehicles market Attempting to overcome shortages of hard currency, which is debilitating the operations of Lifan Motors in Ethiopia, the Chinese carmaker reveals intentions to join the agricultural commodity export business focusing on coffee and sesame as potentially tradable commodities, The Reporter has learnt.

Gas development project behind schedule

Ethiopia’s first natural gas development project in the Ogaden basin, Somali Regional State, is delayed due to various reasons including complex negotiations with the Djiboutian government on gas pipeline construction to the port of Djibouti.

The Sugar Saga: Shipment to Kenya stranded at Moyale

Once again the Ethiopian Sugar Corporation (ESC) has found itself in a middle of a controversy as sugar export worth USD 2.2 million, destined to Kenya, was stuck at Ethio-Kenya border after the Corporation lost contact with the purchasing company.

Private sector in EIB good graces

As part of its increased engagement with the private sector in Ethiopia, the European Investment Bank (EIB) board of directors yesterday approved a USD 10 million loan to an Ethiopia-based private company, Cepheus Growth Capital Fund, Christopher Litt, EIB representative to Ethiopia and the African Union, told The Reporter.