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Eleni Gabre-Madhin at ECX. The Ethiopia Commodity Exchange (ECX) is a commodities exchange established April 2008 in Ethiopia.In Proclamation 2007-550, which created the ECX, its stated objective was "to ensure the development of an efficient modern trading system" that would "protect the rights and benefits of sellers, buyers, intermediaries, and the general public."
MIDROC Ethiopia was established in 1994. In 2011 it made a profit of 1.3bn birr (US$70m). [4]MIDROC has major gold mining interests in Ethiopia [5] [6] and it is reported that MIDROC Gold Mine (a subsidiary of MIDROC Ethiopia) has paid the Ethiopian Government 100.1 million birr in royalties, the largest contribution of any mining company. [7]
It was reported that in the late 1980s, the mineral industry lacked importance given that it contributed less than 0.2 percent of Ethiopia's GDP. [57] Mining for gold is a key development sector in the country. Gold export, which was just US$5 million in 2001, has recorded a large increase to US$602 million in 2012.
5th-century gold coin of King Ezana.. Aksumite currency was coinage produced and used within the Kingdom of Aksum (or Axum) centered in present-day Ethiopia and Eritrea.Its mintages were issued and circulated from the reign of King Endubis around AD 270 until it began its decline in the first half of the 7th century where they started using Dinar along with most parts of the Middle East.
It is the most popular traditional food in Eritrea and Ethiopia. Considered the national dish, it is the food of choice during formal and informal gatherings, eaten together as part of a group who share a communal bowl and basket of injera. It is eaten only on special occasions since it takes approximately 10 hours to prepare adequately. [1]
Coffee harvest in Ethiopia. Coffee, which originated in Ethiopia, is the largest foreign exchange earner. Agriculture accounted for 50% of GDP, 83.9% of exports, and 80% of the labor force in 2006 and 2007, compared to 44.9%, 76.9% and 80% in 2002–2003, and agriculture remains the Ethiopian economy's most important sector. [7]
Ethiopian cuisine (Amharic: የኢትዮጵያ ምግብ "Ye-Ītyōṗṗyā məgəb") characteristically consists of vegetable and often very spicy meat dishes. This is usually in the form of wat, a thick stew, served on top of injera (Amharic: እንጀራ), a large sourdough flatbread, [1] which is about 50 centimeters (20 inches) in diameter and made out of fermented teff flour. [1]
Between 1998 and 2008 MIDROC extracted 34 metric tons from the Lega Dembi mines, earning 466 million dollars; the new mine at Sakara is expected to bring a revenue of 564 million dollars, of which 130 million will go to the government as taxes and royalties. [2] Coffee is an important cash crop in this woreda; over 5,000 hectares are planted ...