Ethiopia revokes licenses of 3,300 illegal brokers manipulating agricultural markets
Ethiopia‘s Ministry of Trade and Regional Integration has announced the revocation of licenses for 3,300 illegal brokers involved in manipulating the marketing system of vegetables, fruits, livestock, and crops.
Trade and Regional Integration Minister, Gebremeskel Chala, disclosed the decision, citing the destructive role these brokers have played within market chains.
“Their licenses will not be renewed since they are illegal,” Minister Chala affirmed.
Highlighting the collaborative efforts between the ministry and regional states, Minister Chala emphasized the collective endeavor to eradicate the control and manipulation exerted by these illegal brokers over the marketing system.
He noted that immediate action has already led to the removal of such brokers from the livestock market, where physical monitoring proves more feasible.
Moreover, Minister Chala underscored the ongoing commitment to working with relevant stakeholders to effectively track, monitor, and control these brokers.
He emphasized that recent improvements in the commercial law, spurred by national reform efforts, have positioned the country to better integrate into the global trade system.
“The amended commercial law, now featuring international business content and enhanced competitiveness, facilitates access to technology-supported services for consumers and the business community,” Minister Chala elucidated.
In a shift towards promoting foreign investment, Minister Chala revealed that previously restricted business sectors, open solely to Ethiopian entrepreneurs for years, are now accessible to foreign investors, signaling a broader transformation in the nation’s economic landscape.
