Local beef retail prices in April 2023 averaged N.dollars 96.30/kg.

Namibia’s beef exports decreased from 958 221 kilogrammes (kg) in April 2022 to 881 535kg in April 2023, representing an 8.0 per cent decrease.

This is according to the Meat Board of Namibia’s latest monthly report, which was availed to this agency today.

According to the report, local beef uptake improved due to better domestic margins (expressed by the difference between local retail prices and producer carcass prices), resulting in Namibia reducing beef exports.

Local beef retail prices in April 2023 averaged N.dollars 96.30/kg.

It also said the livestock and meat industry experienced mixed results in April 2023, with positive growth in the cattle and sheep sectors offset by reductions in the goat and pig sectors.

Beef and sheep producer prices rose month-on-month in April 2023 compared to March 2023 levels, while livestock producer prices fell at auctions.

Despite more meat being produced by export-approved abattoirs in April 2023, beef exports fell as more exportable meat was diverted to the domestic market.

Source: The Namibian Press Agency

Beef exports below 2022 levels in April: Meat Board

Namibia’s beef exports decreased from 958 221 kilogrammes (kg) in April 2022 to 881 535kg in April 2023, representing an 8.0 per cent decrease.

This is according to the Meat Board of Namibia’s latest monthly report, which was availed to this agency on Wednesday.

According to the report, local beef uptake improved due to better domestic margins (expressed by the difference between local retail prices and producer carcass prices), resulting in Namibia reducing beef exports.

Local beef retail prices in April 2023 averaged N.dollars 96.30/kg.

It also said the livestock and meat industry experienced mixed results in April 2023, with positive growth in the cattle and sheep sectors offset by reductions in the goat and pig sectors. Beef and sheep producer prices rose month-on-month in April 2023 compared to March 2023 levels, while livestock producer prices fell at auctions.

Despite more meat being produced by export-approved abattoirs in April 2023, beef exports fell as more exportable meat was diverted to the domestic market. Mutton exports, on the other hand, surged in April 2023 as a result of higher volumes exported to South Africa and Norway by the two export-approved abattoirs.

Year-to-date beef exports stood at 2 533 748 kg by the end of April 2023, down from 3 001 904 kg in the same period in 2022. Because of increasing local availability of beef offal, which has traditionally dominated the import basket, beef imports have remained below 2022 levels.

Beef imports were 47.8 per cent lower year-on-year than during the same period in 2022, while year-to-date imports were similarly 49.6 per cent lower than during the same period in 2022.

The report further said as a result of improved sheep slaughter activity, mutton exports increased by 136.7 per cent during April 2023 compared to April 2022. South Africa remains the dominant export destination for Namibian lamb and mutton, taking up 57.3 per cent of all exports, whereas the remaining 42.7 per cent of exports went to Norway.

It noted that the Norwegian market is a lucrative destination for boneless lamb and supports value addition in the sheep sector resulting in better sheep producer prices.

Source: The Namibian Press Agency

CBE Digital Transaction Jumps over 2 Trillion Birr in Last Nine Months: Bank President

Some 2.2 trillion Birr transaction or money transfer has been made through digital banking services in the last nine months, Commercial Bank of Ethiopia (CBE) President Abie Sano said.

The government is working to make digital Ethiopia a reality through its 10-year Perspective Development Plan and Homegrown Economic Reform Program, he said, adding that financial institutions are accordingly transforming their services.

The president told ENA that paperless services and digital economy are being built internationally and Ethiopia’s move toward that direction is a big step.

The country’s decision to go digital is a bold decision, Abie stated, elaborating that it is decision that enables Ethiopia to join the world. Transactions in cash are slow, going digital however speeding up the process and creates convenience.

According to the president, digital banking plays important role in building the economy.

The president mentioned that bank is working to make its contribution in the building of the digital economy, starting with mobile banking so that customers can spend services digitally.

Digital marketing is convenient for easily recording, managing, reviewing and verifying money transfers, gathering information, analyzing and making decisions, he said.

Commercial Bank of Ethiopia has been helping in building the digital economy by introducing mobile banking, internet banking, mobile wallet, ATM, POS and other digital banking services.

Accordingly, 2.2 trillion Birr transactions were made during the last nine months of this fiscal year alone.

Abie said the money transfer and transaction done by all digital banking services from May 2022 to the end of April 2023 was 2.6 trillion.

The total number of CBE customers has reached about 42 million, of which 30 million are users of digital banking services, it was learned.

The president revealed that the total asset of the bank has reached 1.2 trillion Birr.

Source: Ethiopian News Agency

Financial Intelligence Service Working with International Institutions to Prevent Cross-border Crimes

Efforts are underway to prevent and control cross-border crimes in coordination with international institutions, according to Financial Intelligence Service (FIS).

Financial Intelligence Service Public Relations and Communications Executive Officer, Endale Assefa said the mission of the service requires strong and multiple collaboration.

Therefore, in a bid to prevent financing of terrorism and proliferation of weapons of mass destruction, the FIS is working with international institutions.

In 2015, the Global Financial Action Task Force’s report has indicated that there were fundamental flaws.

According to the executive officer, the prevention of crimes that are threats to world peace can be minimized by building strong domestic institutions and working in cooperation with international institutions.

Ethiopia has already enacted relevant laws to prevent the stated criminal acts on par with the standards of Egmont Group of Financial Intelligence Units and the East and Southern Africa Anti-Financial Crimes Task Force, he elaborated.

It has also developed procedures to hold people accountable by conducting thorough investigations.

In order to enhance the implementation of the laws and procedures, the country has become a member of the Egmont Group of Financial Intelligence Units and the East and Southern Africa Anti-Financial Crimes Task Force and is actively involved, Endale pointed out.

He further stated Ethiopia has been able to prevent and control cross-border crimes with the coordination and exchange of information with international institutions.

The Public Relations and Communications Executive Officer disclosed that FIS has transferred 177 cases on illegal money laundering, tax evasion, corruption and similar financial crimes that threaten the existence of the country to law enforcement agencies.

Financial Intelligence Service was established to prevent and control financing of terrorism and use of ill-gotten gains as legitimate money as well as crimes of proliferation of weapons of mass destruction.

Source: Ethiopian News Agency

County Invests In Sustainable Avocado Farming

The County Government of Nakuru has launched a sustained campaign to revitalize avocado farming, with eyes set on international markets.

County Executive Committee Member (CECM) in Charge of Agriculture, Livestock, Fisheries, and Cooperatives, Mr. Leonard Bor, said the devolved unit was collaborating with stakeholders in the avocado subsector in training farmers on enhancing the competitiveness of avocado value-added products.

The CECM said the venture, a partnership with the Avocado Society of Kenya (ASOK), mainly targets smallholder farmers, who are also being trained on export processes, quality planting materials, proper farming techniques, farm mechanization, accessing reliable market links, and affordable credit facilities.

He added that the county was keen on focusing on international markets instead of selling the fruit to middlemen at throwaway prices, where he said they buy the one fruit for about Sh10 and Sh15, reaping huge profits at the expense of farmers.

The CECM stated that Governor Susan Kihika’s administration had embarked on diversification to promote the farming of avocados and macadamias alongside other traditional crops like coffee and potatoes.

‘We have mainly singled out the avocado crop as a potential income earner for our farmers due to the high demand both locally and internationally,’ said Mr. Bor.

Speaking at his office after meeting officials of the Nakuru Association for Avocado Growers, the CECM indicated that the devolved unit and its partners were further sensitizing the farmers on the new avocado export regulations announced by the Horticulture Crops Directorate towards ensuring that Kenyan fruits are competitive in the global export market.

At least 15 firms have been cleared by Kenya Plant Health Inspectorate Services (Kephis) to export avocados to China following a stringent inspection of their facilities. This is in addition to the fact that more than three million Kenyan smallholder farmers who grow avocados are expected to benefit from greater access to the Chinese market.

The partnership, Mr. Bor said, was critical in ensuring the success of a sustained campaign launched to revitalize avocado farming, adding that farmers have been trained on good harvest and post-harvest handling practices of the fruit and good manufacturing practices for smallholder processing.

He further said avocado value-addition, besides increasing the county’s export portfolio, was also targeting to reduce post-harvest losses and shield farmers from exploitation by middlemen.

‘Value addition and processing prolongs the shelf-life of the produce and minimizes post-harvest losses. It also offers more profit on the same produce and improves the nutrition and living conditions of those involved,’ he added.

The CECM at the same time urged avocado farmers to join cooperative societies to boost their incomes and prevent their exploitation by middlemen, adding that through bulking, cooperatives have been able to reduce the cost of marketing and enabled farmers to realize higher returns through the provision of a reliable and remunerative outlet for produce.

He appreciated the fact that the cooperative movement had evolved over the past two decades into a key cog that turns the wheels of the agriculture sector in Kenya by extending its business beyond the primary role of marketing produce for small-holder farmers and venturing into the provision of financial services.

The CECM also noted that cooperatives were the only structured channels through which the national and county governments could support smallholder farmers in value addition, accessing quality equipment and affordable credit facilities, and procuring superior seedlings, among other benefits.

On revised export regulations, Mr. Bor said most farmers were now aware that the Horticulture Crops Directorate had raised the minimum solid content for export avocados from 20 and 21 per cent for Fuerte and Hass varieties respectively to 24 per cent in order to comply with international standards.

According to the Horticulture Crops Directorate, avocados rank as the fourth most important national fruit crop and have grown to represent 17 per cent of Kenya’s total horticultural exports.

About 70 per cent of avocado production is by small-scale growers who grow it for subsistence, local markets, and export.

Source: Kenya News Agency

This was revealed by Deputy Minister of Finance and Public Enterprises

A total of N.dollars 4.2 billion for the financial year of 2023/24 and N.dollars 13.1 billion over the Mid-term Expenditure Framework (MTEF) has been allocated to the requisite infrastructure development sector.

Meanwhile, the transportation sector received a total of N.dollars 2.9 billion and N.dollars 9 billion for the 2023/23 financial year and MTEF respectively.

This was revealed by Deputy Minister of Finance and Public Enterprises, Maureen Hinda-Mbuende, at the African Road Maintenance Fund Association (ARMFA) Presidential handover ceremony in Swakopmund on Tuesday.

According to Hinda-Mbuende, this budget allocation is primarily for the completion of ongoing phases of road construction projects with contractual awards.

These include the finalisation of the Windhoek-Okahandja dual carriageway’s second phase, the Swakopmund-Henties Bay-Uis-Kamanjab road and the completion of phase one of the Windhoek-Hosea Kutako Airport road and the retention for the upgrades to Walvis Bay-Kranzberg railway line.

Source: The Namibian Press Agency