Ethiopian Freight Forwarders and Shipping Agents Association

EFFSAA Weekly Newsletter, Vol. 02, No. 077

Ashewa Tech Bridges Logistics Gap in Addis

Ashewa Technology Solution, a digital commerce platform provider, embarks on a new venture in digital business.

This time around, the tech company has spread its wings to add a delivery and logistics service for Addis Ababa buyers.

The company which was formed in alignment with government’s Digital Ethiopia 2025 strategy has successfully been running its ecommerce platform through the trading platform and currently provides services for 1,600 traders to sell over 5,000 products.

Recently, the company has disclosed that as one of the 11 digital businesses, it targets to operate on the delivery and logistics sides of its business in the capital city.

According to Daniel Bekele, CEO of Ashewa, the logistics and delivery service will accommodate 15,000 traders, 10,0000 customers and 5,000 products in a month’s time.

To introduce the new venture, the company has facilitated three warehouses that will be increased to eight in the fiscal year.

According to officials of the digital company, the new scheme has a role to tackle price hike besides creating an opportunity to connect farmers to customers without middlemen.

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Ethiopia Opens Banking Industry to Foreign Investors

The Council of Ministers has passed decision to open up the banking sector to foreign investors, the Office of the Prime Minister said.

Opening up the banking industry to foreign investors supports the sector’s services with knowledge and technology and move the country’s economy to a higher level of connection with the international market, the statement noted.

The policy will also help to increase competitiveness and efficiency of the financial sector, to have sufficient financial supply, to facilitate the supply of foreign currency, to increase job opportunities, and to ensure continuous economic growth by ensuring economic efficiency and global competitiveness, the council observed.

Therefore, the Council of Ministers has extensively discussed, enriched, and passed the draft policy to be implemented.

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Deep-Water Somali Port Gives Landlocked Ethiopia New Trade Route

Deep-Water Somali Port Gives Landlocked Ethiopia New Trade Route

Somalia will open a deep-water port on its northern coast next month, with a road link forging a new trade route connecting Ethiopia’s south-eastern region with the city of Gara’ad.

The development is part of a $531 million investment plan aimed at boosting the export of livestock, fish, minerals and agricultural commodities, according to Saed Faadi, the chief executive officer of Wadagsan LLC, the developer.

The first two deep-water berths in the Puntland state’s city will be capable of docking 40,000-ton container ships and provide services such as modern loading equipment, refrigerated storage facilities and feeding grounds for animals.

The Gara’ad port will be the Horn of Africa nation’s fifth deep-water facility providing access to the Indian Ocean, but it’s the closest to Ethiopia, a landlocked country of 115 million people whose economy was one of the fastest growing in the world before the coronavirus pandemic and conflict curbed expansion.

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Empty Containers Will Overwhelm Ports in 2023 Warns Sea-Intelligence

Empty Containers Will Overwhelm Ports in 2023 Warns Sea-Intelligence

Ports around the world have been complaining for nearly a year about the build-up of empty containers blaming the containers piling up in their yards as contributing to the backlogs and disruption in the supply chains. Recently, ports and regulators have been looking at new steps to move the backlog of empties, but according to a new analysis from Denmark-based data analytics firm Sea-Intelligence, a return to normal in shipping could inundate ports with even more empty containers by early next year.

Sea-Intelligence had identified this issue in February of this year, but at the time they predicted a slower return into the supply chain and a smaller excess. They had forecast that 3.5 million TEU could become excess in 2023 on the transpacific routes. With reports of slowing shipping levels, Sea-Intelligence is increasing its forecast and pointing to a quicker acceleration of excess containers.

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