By: Ebenezer Mensah
Published: January 16, 2024 at 8:09 am EST
In the wake of a two-year conflict and a global pandemic, the Tigray Industry Bureau in Ethiopia is sounding a call for aid to resurrect its beleaguered manufacturing sector. The request is directed to the federal government, in an effort to alleviate the compounded difficulties faced by investors who had secured bank loans prior to the onset of the war in November 2020.
Cry for Support
Deputy Head Mehari Gebremichael of the Tigray Industry Bureau has underscored the necessity of government intervention. He calls for measures such as the waiver of loan interests and the provision of new loans at diminished rates. These measures are seen as vital lifelines for businesses that have endured a three-year disruption, pressure from banks for debt repayment, and the emotional toll of the war.
Scarcity and Inadequate Assistance
The industry’s resurgence is further hampered by the dearth of raw materials and foreign currency. The Ministry of Industry has extended a helping hand in the aftermath of the Pretoria peace agreement, but it falls short of the monumental task of reconstructing the industrial sector. Out of 139 medium and large industries marked for restoration, many are still awaiting the necessary heed.
Struggling Industries
Before the war, Tigray was home to 61 major capital-intensive industries. A significant number of these have been either wholly or partially decimated. Some, like the Messebo Cement Factory, have managed to reboot operations, but others continue to grapple with the aftermath of the conflict. An anonymous investor from Mekelle reported a staggering loss of at least 20 million birr due to the war, expressing exasperation over the lack of response to repeated pleas for support.
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