Ethiopia Appeals for $948 Million in Humanitarian Aid for 2017
17 January 2017 – On the heels of failed rains and a calamitous El Niño in Ethiopia, the country's Government today launched an appeal for $948 million to urgently address food and non-food needs, while the United Nations agriculture agency warned that a new drought may put the East African nation's hard fought gains at risk.
The humanitarian response plan, launched by the Ethiopian Government and humanitarian partners, aims to help 5.6 million people mainly in the southern and eastern parts of the country, according to the UN Office for the Coordination of Humanitarian Affairs (OCHA).
“Last year the Government of Ethiopia, with the support of international donors and humanitarian partners, was able to mount the biggest drought response operation in global history. Today we need tha
Capital Inadequacy of Commerical Bank of Ethiopia Alarms Government
January 17, 2017 - A shocking decline of the Capital Adequacy Ratio (CAR) at the largest state-owned bank, Commercial Bank of Ethiopia (CBE) – currently at the lowest critical level of four percent – has prompted the government to deposit a security bond worth 26.5 billion birr, according to Reporter.
The security bond is intended to raise the bank's paid up capital. In a bid to apply it quickly, the government has tabled a draft proclamation on Tuesday before the House of People’s Representatives (HPR). The bill proposes an issuance of the security bond worth 26.5 billion birr. If approved, the Ministry of Finance and Economic Cooperation (MoFEC) will issue the security bond that will raise CBE's total capital to 40 billion birr.
After the capital injection, CBE’s
Ethiopia Considering Partial Privatization for Shipping Enterprise - PM
January 17, 2017 - During his latest press conference Prime Minister Hailemariam Desalegn confirmed that his government is in the process of selling shares of the Ethiopian Shipping and Logistics Services Enterprise (ESLSE), which is the only state run company that owns commercial boats in Africa, to an undisclosed company, according to Capital.
The PM explained that the costs of inland transportation out way the costs of transportation by sea because of logistical issues and the cost of moving freight in Ethiopia. He pointed out that, “the newly inaugurated railway will substantially decrease the cost of transportation, but logistical concerns are still a major source of concern.”
“We are trying to privatize the company with some e
Ethiopian Band Yegna to Continue Despite Funding Cut from UK
January 16, 2017 - Yegna Managing Director Solome Tadesse spoke on Tuesday of continuation of the project despite the UK Department for International Development (DFID)’s decision to cut its funding for the project. DFID has been working with Yegna for the past four years and had a plan to give it GBP 11.8 million between 2015 and 2018 through its partner Girl Effect. But DFID announced the end of its partnership with Yegna a few days ago.
Though DFID said the decision came after a review of Yegna project and a belief that there were more effective ways to spend UK aid, Solome said the decision by the organization in no way reflected the success or impact of Yegna. “Yegna has been on air for the past three-and-a-half years and DFID has done annual reviews b
World Bank Grants USD 24mln for Two Ethiopian Universities
January 16, 2017 - The World Bank has granted a 24 million US dollars support for Addis Ababa and Haremaya universities to help them establish centers of excellence.
Both universities were selected to be East and South African centers of excellence after competing with other African universities.
Hence, Addis Ababa University (AAU) will open three and Haremaya University (HU) one center of excellence.
The World Bank provided 6 million US dollars for the establishment of each center.
In a related development, AAU and the European Union (EU) signed a memorandum of understanding (MoU) last week, to extend partnership and promote collaboration in the areas of education and academic research. (FBC)
University of Toronto Starts Ge’ez Classes
January 13, 2017 - The University of Toronto (U of T) has begun Ge’ez classes to enable a new generation of students understand the ancient language and access long-lost trove of knowledge.
This week, Professor Robert Holmstedt of the department of Near and Middle Eastern civilizations welcomed 25 students and members of Ethiopian community in Toronto to the first day of an introductory course on Ge’ez.
With this course, U of T becomes one of the only places in the world where students can learn the fundamentals of Ge’ez, according to a statement on the university’s site.
The program came about through several significant donations, including from The Weeknd, the Ethiopian community and the Faculty of Arts & Science.
Department Chair Professor Tim Harrison has said that he hoped, with continued supp
Ethiopia Will Cement Relationships with Neighboring Countries - PM
January 12, 2017 - Prime Minister Hailemariam Desalegn said his government will strengthen its bilateral relations with neighboring countries, according to FBC.
The Premier gave today explanation for questions raised by members of the parliament (MPs).
Responding to question regarding the status of Ethiopia’s relations with its neighbors, the Premier said, “We have excellent relations with Kenya and Sudan.”
“Our relation with Djibouti is strategic and one step ahead from the relations with other countries. We have also good relations with both South Sudan and Somalia,” he added.
And, he said, “We will work to further cement our relations with our neighbors.”
Regarding to delay in mega projects, he said, there is no delay in all projects except in
Joint Venture Agreement Signed to Establish Ethio-Djibouti Railway Company
January 12, 2017 - Ethiopia and Djibouti have signed a joint venture agreement to establish a company that will manage the newly built Ethio-Djibouti railway, according to FBC.
The agreement was signed yesterday in Djibouti by Ethiopia’s Minister of Transport, Ahmed Shide and Djibouti’s Minister of Transport and Finance.
The accord signed yesterday is part of the agreement signed recently between the two countries for the establishment of a joint company.
Present at the signing ceremony were also Dr Girma Amente, Ethiopia’s Minister of Public Enterprise as well as heads of Ethiopian and Djibouti railway corporations, Dr Engineer Getachew Betru and Mr Mohmoud, respectively. (FBC)
Chinese Energy Firm Begins Drilling in Ethiopian Somali Region
January 11, 2017 - A Chinese firm, Poly-GCL, yesterday began drilling the 6th petroleum and natural gas well at Hilal- 7 gas field in Ethiopian Somali regional state, according to FBC report.
Poly-GCL, one of the companies engaged in natural gas exploration in Ethiopia, has so far drilled five deep gas wells around Calub and Hilala areas at the Ogaden basin.
The company had officially started yesterday the drilling of the 6th gas well-called Hilal-7, in the presence of Motuma Mekassa, Minister of Mines, Petroleum and Natural Gas and La Yifan, Chinese Ambassador to Ethiopia.
In an interview with EBC, Motuma Mekassa said the country will begin extracting natural gas after three years.
“Unlike the other drillings, the digging at Hilal-7 is special as it took into consideration exploration of both petroleum and natura
Ethiopia Committed to Policy Based on Mutual Benefits - PM
January 11, 2017 - Ethiopia is committed to pursuing its policy based on mutual benefits with any country, Prime Minister Hailemariam Desalegn said, according to ENA. At a press conference he held on January 9, 2017, the premier stated that the principles of Ethiopia’s diplomacy are in tune with this policy.
Accordingly, Ethiopia has been working to strengthen its bilateral relationship with Egypt through all means including people-to-people diplomacy.
Yet, some institutions in Egypt have been collaborating with groups categorized as terrorists set to destabilize Ethiopia, he pointed out.
In relation to this, the government of Ethiopia has called on its Egyptian counterpart to enquire about the nature of those institutions and their intentions.
In response, the Egyptian Ambassador in Ethiopia h
Haile Gebresilassie Seeks Plot of Land for Hyundai Assembly Plant
January 10, 2017 - The legendary long distance athlete and investment tycoon, Haile Gebresilassie, said that he is still waiting for the approval of the Addis Ababa City Administration cabinet to secure a plot of land he requested to build an assembly plant for the Korean vehicle brand Hyundai in the southwestern outskirts of Addis Ababa.
However, sources told The Reporter that the city cabinet had a meeting last week where it evaluated Haile’s request for land but rejected it because the requested land size is too large in view of the current shortage of investment land. However, sources further said that the cabinet is still planning to reconsider provided that Haile is willing to reduce size of the plot considerably.
However, Haile said that the plot has not yet been confirmed by
We Need to 'Consolidate Gains' Before Lifting State of Emergency - PM
January 10, 2017 - Ethiopia needs to "consolidate gains" after the deadly unrest last year before it can lift a state of emergency that was imposed in October, the prime minister said on Monday, according to Reuters.
"As far as the date of lifting the state of emergency is concerned, it should be seen in the perspective that we have to consolidate the gains that we have made so far," Prime Minister Hailemariam Desalegn told a news conference, noting that the measure had helped restore "normalcy".
Rights groups have said more than 500 people were killed in violence that was initially sparked by anger over a development scheme for the capital but which broadened into anti-government demonstrations.
The government said the measure would be in place for six