Ethiopians hold a special value for their New Year festival, Enkutatash. For the reason that the New Year is celebrated at the end of the foggy, thunderous, and rainy season and heralds the forthcoming of the bright, sunny season, it is one of the most awaited holidays among Ethiopians.
For this reason, Ethiopians prepare themselves to celebrate it with their family, friends, and neighbors as well as the needy vibrantly and joyfully. Preparations often commence a month before the actual holiday.
A few days ago Ethiopians welcomed the first day of their New Year- on September 11, 2024. Despite, the fear of facing soaring price hikes on the market, they marked the holiday happily and warmly.
In fact, the month of September (Ethiopian Meskerem) is the time that most Ethiopians encounter financial stresses. As the month is a time of festivals including New Year, and the Findings of the True Cross, coupled with the re-opening of schools at the national level after two months of closure, most households are compelled to spend a large amount of money – either from the savings they kept it for rainy days or borrowing from others to celebrate the festivals and purchase school materials for their children.
In this Ethiopian New Year, following the new macroeconomic reform that the government adopted, there was a fear of encountering economic pressures and high price hikes on the market in every aspect. Even many people were spreading tales of the economic pressure to cast a shadow over the Enkutatash festival. However, the reality was surprisingly different- the New Year was celebrated colorfully among Ethiopians.
Some individuals residing in the capital also reflected their views to The Ethiopian Herald regarding the holiday vibe on various marketplaces across Addis Ababa; where the livestock markets and other holiday items were in high demand.
Endalkachew Yilekal, a resident of Addis Ababa, was met by this journalist at Shola Open Market, where a variety of commodities are available not only for the holiday but also for everyday needs. When asked how the market is performing, he remarked, “The holiday market is doing well. To my surprise, there is a high supply of chickens, edible oil, and other holiday commodities at reasonable prices.
Given the new macroeconomic reform and the increased exchange rate of hard currencies, I feared that the prices of most goods would rise. Fortunately, that did not happen.”
According to Endalkachew, he was able to buy a large-sized chicken for 1,000 birr which is a reasonable and fair price for such a big-sized cock, Doro.
Mulunesh Tesfaye, a mother of two was the other one whom this journalist met her accidentally holding a plastic sack full of onions. She seemed unsatisfied due to the high price set for onion. When asked how she found the holiday market she said: “The holiday market seems good except for the price of onion which I paid over 80 Birr for a kilo of onion, which is unreasonable. Regarding other commodities, including chicken, I found it reasonably priced.” She also said that the markets are stuffed with the needed holiday goods mentioning the high supply of holiday items including sheep and chicken, egg and butter, spices, and the like. The presence of alternative Sunday market centers and bazaars in different sub-cities has created more opportunities to curb the scarcity of commodities; which was common during holidays; and meet buyers’ expectations thereby stabilizing the market.
Emuye Eneshaw is a spices and other commodities vendor in the Shola Open Market. While this reporter approached her, Emuye was busy handling her customers’ orders along with her daughter, who was also busy supporting her mother. As she got some relief, this journalist had a chance to forward a question about how business was running on this Ethiopian New Year. According to her, most local products are being sold at reasonable prices. “The supply is also found in good shape. The only problem is some of my customers are still expecting similar prices they had been paying some two or three years ago, which is unreasonable.”
While talking about the opening of diverse market opportunities in various areas that provide goods and holiday items, Emuye said that having different marketplaces in various centers plays a significant role in stabilizing the market. “If consumers feel that our prices are higher, they can see other alternatives and visit different marketplaces, where they can buy with affordable prices for the same products. City administration’s intervention to provide market shades in various sub-cities is a great work in this regard.”
Indeed, as indicated by consumers and vendors, the holiday market looks stable and most of the commodities were sold at reasonable prices. To this happen several factors have contributed. For instance, as the festive period drew nearer, the price increase in most food items caused a significant concern for many Ethiopians. The hikes in prices for staple food items have increased; alarming authorities to take action. For this very reason, as the Ethiopian New Year approached, regional and federal authorities took proactive measures to address the pressing issue that has been impacting households across the nation. With rising costs affecting the affordability of essential goods, particularly food items, the government took important measures aiming at creating a stabilized market environment, ensuring that families can celebrate the holiday without incurring exorbitant costs. Local vendors are also assessing the impact of these measures on their businesses, and ensuring that families can celebrate the holiday season without financial strain.
The initiatives, designed to address the heightened demand during the holiday season have resulted in a more stable market environment, allowing families to plan their celebrations without the looming worry of inflated prices. These government’s efforts have gained positive reactions from the community.
What is more, the actions carried out at all levels of authorities and responsibilities to effectively implement the decision illustrate a commitment to supporting citizens during challenging economic times. By addressing the pressures through administrative actions, they not only stabilized the market but also enabled the community to celebrate the festival happily.
BY LEULSEGED WORKU
THE ETHIOPIAN HERALD TUESDAY 17 SEPTEMBER 2024
