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[Dec 2017] S.A Bagerish Latest Ethiopian News AddisBiz.com | Ethiopian Business Directory & Portal - Addis Biz

Ethiopian coffee exporter sees value in local processing

cofee mar7Ethiopians can claim to have discovered coffee and no one will challenge them. The Horn of Africa Nation is the largest coffee producer on the continent and has the most variety of coffee beans in the world.

The country exports coffee worth over $50 billion every year, but like many other coffee producing countries on the continent it is not known for refining its produce into any final product.

But

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Commercial bank of Ethiopia (CBE) earns 1.1 million USD from Exports

CBE Award dollar[2013]

Ephrem Mekuria, communication manager with CBE, told The Reporter that the bank earned a total of USD 5.8 billion from international banking department (IBD) in the budget year. Ephrem said exporters brought USD 1.1 billion from the export and the remaining was earned from remittance and other transactions.

The bank made a gross profit of 8.4 billion birr.

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