
Pak single-country exhibition in Ethiopia from May 15
KARACHI: Ethiopia's Ambassador to Pakistan, Dr Jemal Beker Abdula, has announced that a single-country exhibition featuring Pakistani products will be held in Ethiopia from May 15 to 17, 2025. This event aims to boost access for Pakistani goods into the wider African market.
Speaking at meeting of Korangi Association of Trade and Industry (KATI), the ambassador revealed that Ethiopia is offering Pakistani manufacturers attractive incentives including a 10-year tax holiday for exports made from Ethiopia to third countries and up to 70% revenue support for investments within the country.
Dr Jemal Beker Abdula described Ethiopia as a 'gateway to Africa,' emphasising that Pakistani industrialists could manufacture their products in Ethiopia and export them to regional and international markets. He highlighted the country's 98% renewable energy use, with electricity costing only around PKR 5.80 per kilowatt-hour, and free water supply for industries—creating a cost-effective production environment for accessing Africa's 1.5 billion-strong consumer base.
More than 100 Pakistani brands and manufacturers are expected to participate in the exhibition, which will be inaugurated by Pakistan's Federal Minister for Industries and Commerce, Jam Kamal Khan.
Copyright Business Recorder, 2025
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
15 hours ago
- Business Recorder
Rwanda quits Central African bloc in dispute with Congo
KIGALI: Rwanda has said it would withdraw from the Economic Community of Central African States (ECCAS), underscoring diplomatic tensions in the region over an offensive this year by Rwanda-backed M23 rebels in eastern Congo. Kigali had expected to assume the chairmanship of the 11-member bloc at a meeting on Saturday in Equatorial Guinea. Instead, the bloc kept Equatorial Guinea in the role, which Rwanda's foreign ministry denounced as a violation of its rights. Rwanda, in a statement, condemned Congo's 'instrumentalization' of the bloc and saw 'no justification for remaining in an organization whose current functioning runs counter to its founding principles.' It wasn't clear if Rwanda's exit from the bloc would take immediate effect. The office of Congolese President Felix Tshisekedi said in a statement that ECCAS members had 'acknowledged the aggression against the Democratic Republic of Congo by Rwanda and ordered the aggressor country to withdraw its troops from Congolese soil.' M23 seized eastern Congo's two largest cities earlier this year, with the advance leaving thousands dead and raising concerns of an all-out regional war. African leaders along with Washington and Doha have been trying to broker a peace deal. Congo, the U.N. and Western powers accuse Rwanda of supporting M23 by sending troops and weapons. At least 143 dead in DR Congo boat fire Rwanda has long denied helping M23, saying its forces were acting in self-defence against Congo's army and ethnic Hutu militiamen linked to the 1994 Rwandan genocide that killed around 1 million people, mostly ethnic Tutsis. U.S. President Donald Trump's administration hopes to strike a peace accord between Congo and Rwanda that would also facilitate billions in Western investment in the region, which is rich in minerals including tantalum, gold, cobalt, copper and lithium. ECCAS was established in the 1980s to foster cooperation in areas like security and economic affairs among its member states.


Business Recorder
2 days ago
- Business Recorder
Will the budget provide ‘deep reforms startups truly need to thrive'?
With the budget announcement just around the corner, Business Recorder spoke to several people associated with the country's startup ecosystem to understand their hopes and expectations. Amid dwindling startup funding, some remain optimistic, while others believe the budget will only provide surface-level policies that will not truly go to the heart of the needs of the ecosystem. According to Syed Azfar Hussain, Project Director Project Director National Incubation Center Karachi the upcoming budget, expected to be announced on June 10, 'can significantly support startups by including seed grants,tax incentives, and export facilitation.' He told Business Recorder that investment in digital infrastructure like cloud services and skills development will also help startups scale more efficiently as will support for innovation through public procurement. When asked if his expectations align with what he would like to see in the budget, he said he was optimistic. 'The government has shown increased interest in promoting the digital economy. We hope to see continued support for the Pakistan Software Export Board, which has advanced freelancer training and IT export promotion including the recent Digital Foreign Direct Investment event in Islamabad, and the Ignite National Technology Fund, whose role in funding incubation, R&D, and entrepreneurial programs has been vital.' Pakistan secures $700m in investment pledges at first Digital Foreign Direct Investment forum He believes that if these efforts are further facilitated and expanded in the budget, 'it will align well with our hopes for a stronger startup ecosystem.' Meanwhile a spokesperson at flexible workspace startup COLABS said that while some support is expected for the startup ecosystem, such as tax relief for the IT sector, youth loan schemes and digital service expansion, 'it has been apparent that these measures only tend to scratch the surface.' Major challenges faced by startups like fragmented tax systems, regulatory uncertainty, limited access to finance, remain largely unaddressed, they said. Their conclusion is that while the budget may offer some help, it still falls short of delivering the deep reforms startups truly need to thrive. 'We hope that the budget has taken into account expert advice that aligns with the startup and venture capital landscape so as to further address the issues of combating large import vs., export bills,' they added. When asked what they would like to see from the government, they explained that access to capital remains one of the biggest hurdles for early-stage founders and scale ups. For this reason, budget provisions that support government-backed venture funds or credit guarantees can be game changers, 'by de-risking investment and encouraging private capital as well via tax incentives and lower interest rates for financing.' COLABS called for public funding for accelerators and startup hubs, especially in and around smaller cities, as it believes this will help grow an inclusive ecosystem by leveling the playing field for startups and SMEs. 'In fact, we hope that enabling space providers as strategic partners to this end will help contribute to the larger startup ecosystem and entrepreneurial community.' Simplified procedures were also on the company's wishlist. The representative said COLABS hoped the budget will introduce policies to add to the ease of doing business and moving with global best practice, introduce simplified and harmonized tax policies, offer tax holidays or incentives for early-stage ventures, and streamline registration, compliance and tracking through a one-window digital portal. Hamad Dawood, founder of the e-commerce concierge service Farmaish, echoed some of these thoughts. He believes 'Building a startup is already hard, so compliance should be a lot easier.' He said Farmaish is a small, bootstrapped e-commerce startup 'so I am liable to pay GST, but Saddar importers, and wholesalers can get away without paying it. So either I'm compliant or I'm priced out of the market by 18% and customers always want to save money.' He also called for a tax holiday for at least 5 years: 'Let companies have a realistic chance to build before they start being taxed.' On his wish list is tax credits for the investments that startups make early and an easier, simpler framework to understand and follow.


Express Tribune
2 days ago
- Express Tribune
US fund commits $10m to Pakistani startups
Listen to article A US tech fund has committed $10 million to two Pakistani IT entrepreneurs and IT experts have praised this move as it looks promising for the future. Tech analyst and expert Muhammad Yasir said that Pakistani IT firms are penetrating different traditional and non-traditional markets with their innovative products and services, which is a positive sign. Attracting investments from US-based companies will not only boost business growth and expansion of Pakistani IT companies but it will also improve the image of the country in the relevant sector, opening doors for other companies in high-end markets such as the US and EU. Pakistani IT companies need to reach more similar investors and venture capitalists in major traditional markets like the US, EU and non-traditional markets like the UAE and Saudi Arabia to expedite the overall growth of Pakistani IT exports and expansion. JR Dallas Tech Fund, the premier private investment arm of JR Dallas Wealth Management, announced a groundbreaking $10 million commitment to globally recognised technology leaders Mehwish Salman Ali and Malik Mudassir to spearhead an exclusive US-focused startup investment initiative. Under this landmark agreement, Mehwish Salman Ali and Malik Mudassir will receive $10 million in dedicated capital to identify, evaluate, and invest in high-potential startups planning to scale operations in the US. The duo will serve as lead investment partners with full authority to deploy capital across artificial intelligence, cloud computing, digital health, and frontier technology ventures. "We are entrusting $10 million to two of the most visionary technology leaders of our generation," said Jehangir A Raja, Managing Partner at JR Dallas Tech Fund. "Mehwish and Malik represent the perfect combination of technical expertise, entrepreneurial success, and strategic vision needed to identify the next generation of game-changing startups ready to conquer the American market." This $10 million commitment specifically targets startups with proven capabilities seeking to establish or expand operations within the US, creating a direct pathway for international innovation to contribute to American economic growth. The investment is likely to generate positive economic impacts as these companies are expected to generate 300-500 high-skilled technology positions within 24 months. Portfolio companies are projected to contribute $50-100 million in US economic activity within three years and accelerate breakthrough technologies in AI, healthcare, and cloud infrastructure. Mehwish Salman Ali brings unparalleled expertise as Founder & CEO of Data Vault, Pakistan's first solar-powered and quantum-encrypted AI data centre, Co-Founder of Zahanat AI, the country's first indigenous GPT model, and COO of AppsGenii Technologies. Malik Mudassir commands respect as Founder & CEO of AppsGenii Technologies, operating across the US, UK, and Pakistan, and Co-Founder of multiple successful ventures including GharPar, BoxesGen, and Dental Connect. The $10 million fund operates under a rigorous investment framework designed to maximise both financial returns and economic impact: "Receiving this $10 million commitment from JR Dallas Tech Fund represents more than capital; it's a mandate to bridge the gap between global innovation and American market opportunity," said Mehwish Salman Ali. "We are committed to identifying startups that not only promise exceptional returns but also contribute meaningfully to US technological leadership." Malik Mudassir added, "This $10 million investment enables us to support visionary entrepreneurs who understand that scaling in America requires more than great technology it demands deep market insight, operational excellence, and strategic partnership. We're here to provide all three."