Addis Ababa, January 20, 2025 (ENA) ----Ethiopia has secured 908 million USD from coffee export during the past six months, according to the Ethiopian Coffee and Tea Authority (ECTA). Briefing the media today, Deputy Director General of ECTA Shafi Umer stated that the country has exported more than 200,000 tons of coffee during the stated period as production and productivity has been massively increased in the sector. For the deputy director general, the country has been undertaking remarkable reform in the coffee sector in recent years particularly focusing on increasing quality, production and productivity. Following all the various reforms taken by the government and stakeholders pertinent to the sector, the country secured 908 million USD by exporting more than 200,000 tons of coffee during the past six months. The plan set for the stated period was to attain 714 million USD by exporting over 133,000 tons of coffee, according to the deputy director general. By the end the last Ethiopian budget year, the East African nation, which is the origin of coffee Arabica, earned more than 1.4 billion USD from its coffee export. The country plans to earn 2 billion USD from coffee export in the current Ethiopian budget year by exporting more than 400,000 tons of coffee, it was indicated.

Addis Ababa, January 19, 2025 (ENA) ---- China is dedicated to establishing a Global South Center and encouraging interactions between stakeholders from both the north and the south to engage in policy discussions, President (Minister) of Development Research Center of the State Council of China, LU Hao remarked. Ethiopia’s Finance Minister, Ahmed Shide has welcomed LU Hao, President (Minister) of Development Research Center of the State Council of China and its delegate. In their discussion LU Hao underscored that during the 3rd FOCAC summit the Chines government encouraged Think Tank group dialogue for public policy development in Africa. For this, he said, the Chinese government organizes a close door symposium in Egypt to make a policy dialogue on how to strengthen China’s cooperation with Africa. He also mentioned that China is dedicated to establishing a Global South Center and encouraging interactions between stakeholders from both the north and the south to engage in policy discussions and share experiences aimed at fostering change and development for developing countries. The Chinese official also noted that, during the FOCAC summit, African nations reached a consensus to advance development in sectors such as industry, information technology, artificial intelligence, agricultural transformation, and market supply chains. In this context, the Global South Center is anticipated to formulate policy frameworks through extensive policy dialogues to support the development of African nations. Minister of Finance, Ahmed Shide for his part stated that the establishment of the Global South Research Center is important for global development. He said, we learned and benefited much from China’s growth underscoring that China’s growth is the growth of Africa which leverages huge finance and engineering capacity for the economic development of African nations. Ahmed mentioned the Ethiopian experience that during the past 15 years the country implemented several infrastructural, manufacturing and development projects by Chinese financial facilities. In addition, Ethiopian also benefited from China’s engineering which significantly enhanced Ethiopian technical capacities. Minister Ahmed also mentioned the contribution of Ethiopian projects for regional economic development. In this case, he sated some projects such as the Ethiopia-Djibouti railway project, the hydropower generating and transmission lines, express ways and water supply projects which benefited neighboring countries. Finally, Ahmed underscored that Chinese economic cooperation and partnership with Ethiopia and Africa in general has played great role for their development, insisting the Chinese government to continue its financial and engineering cooperation and support to Africa.

Addis Ababa, January 19, 2025 (ENA)— A symposium is scheduled to take place in Douala, the capital of Cameroon, next week, aimed at effectively aligning frameworks for the development and implementation of new-generation special economic zones across Africa. The economic commission for Africa (ECA), African Union, African Development Bank, UNIDO and UNDP are organizing the symposium from January 21 to 23, 2025. Experts from ECCAS and CEMAC member states and their respective RECs will discuss, together with financial organizations, development partners and the private sector, ways of accelerating the set-up of special economic zones (SEZs) in Central Africa, as an instrument for inclusive and sustainable industrialization and economic diversification. The symposium's ultimate aim is to structure a well-understood shared commitment, according to ECA. By way of illustration, it is expected to co-create an inter-agency working group and a robust regional cooperation platform to accelerate the operationalization of industrialization strategies and the implementation of high-potential value chain and new-generation SEZ approaches. Similarly, the symposium is expected to launch work on a joint program to support the sub-region's states in the development and implementation of new generation SEZs, which would contribute to inclusive and sustainable industrialization and other broader economic and social development objectives. Central Africa is committed to reducing its vulnerability to exogenous shocks, such as inflation, overindebtedness and budget imbalances. To remedy this situation, States and Regional Economic Communities have defined sub-regional and national import-substitution strategies. These strategies, anchored in industrialization plans, should guarantee the successful implementation of the AfCFTA, in line with the commitments made at the extraordinary summit of the African Union in Niamey (Niger) in November 2022. The Director of the Economic Commission for Africa's Sub-Regional Office for Central Africa, Jean Luc Mastaki remarked that the development of regional value chains requires an alignment of industrialization frameworks, of which Special Economic Zones are the main tool.

Addis Ababa, January 18, 2025 (ENA) —Ethiopia is setting a precedent for Africa and the entire world with its enormous commitment to addressing climate change impacts, Advisor at the United Nations Food Systems Coordination Hub David Nabarro said. The country has been undertaking decisive steps in its convergence initiative which aims to foster Ethiopian food system and nutrition as well as climate action which will simultaneously support the SDGs and Paris climate agreement. Advisor at UN Food Systems Coordination Hub Nabarro told ENA that in Ethiopia, there is a massive effort underway in bringing together different stakeholders with the aim to ensure food security and nutrition alongside addressing climate change impacts. The country is working on creating systems that converge different ministries, academic groups, civil society and other partners particularly in the private sector to realize its ambitions. In Ethiopia, you are setting an example for Africa and the world on how to do this, he said, adding it is your convergence process and you are teaming up with the UN systems as part of the convergence initiative. He stated that Ethiopia has an economy that is agrarian, yet vulnerable to climate change. “I see an enormous commitment by the government of Ethiopia to addressing the challenges and trying to create an environment where everybody is able to enjoy good nutrition, and all farmers are able to have a decent income and the country can move forward,” he said. The advisor also commended the initiatives taken by the government in order to ensure climate proof agriculture and food system, in order to increase resilience, in order to get value chains to be able to function despite climate change effects. The government is trying to do everything possible to get the right science and innovation, the right public-private-partnerships, and the right engagement of the public so they are on this together, he affirmed. For him, Ethiopia’s ongoing endeavors are remarkable and commendably moving forward, where other countries can learn from the country’s experience. Stressing the need to reinforce the role of partners at all levels, he added the need for partnerships with businesses, smaller and medium enterprises and farmers, among others. Strengthening the partnerships with CSOs, media, international community, UN Systems, development banks, cooperation across the AU is also instrumental as Ethiopia has shown its continued commitment for partnership in multiple directions, he emphasized. The country has been working on integrating the climate change risks into the country’s food systems transformation in collaboration with the UN Food Systems Coordination Hub, development partners and national stakeholders, it was learned.

Addis Ababa, January 18, 2025 (ENA) — The Executive Board of the International Monetary Fund (IMF) completed today the second review of the 48-month Extended Credit Facility (ECF) for Ethiopia. The Board’s decision allows for an immediate disbursement of about 248 million USD which will help Ethiopia meet its balance of payments needs. The completion of the review brings total disbursements under the arrangement to about 1.611 billion USD. Ethiopia’s ECF arrangement for a total of about 3.4 billion USD at the time of program approval on July 29, 2024 is aimed at supporting the authorities’ Homegrown Economic Reform Agenda (HGER) to address macroeconomic imbalances and lay the foundations for private sector led growth. Foreign exchange market functioning has continued to improve with the authorities taking significant policy actions to strengthen market efficiency. According to a press release issued by IMF, the National Bank of Ethiopia (NBE)has maintained tight monetary and financial conditions, and modernization of the monetary policy framework is advancing. Progress in raising domestic fiscal revenues, strengthening state-owned enterprises, and anchoring financial stability is promising, with continued commitment needed to sustain the achievements thus far. Expanding social safety nets is critical to mitigating the impact of reforms on vulnerable people. The authorities continue their efforts to restore debt sustainability and are taking steps to secure a debt treatment, IMF stated. The progress made on debt restructuring negotiations under the Common Framework is welcome. The financing assurances received, and adjustment efforts made are consistent with IMF policy requirements and program parameters. Following the Executive Board discussion, Nigel Clarke, Deputy Managing Director, and Chairman of the Board, said in a statement that the authorities continue to make strong progress in implementing their Fund-supported program and addressing macroeconomic imbalances. Clarke stated the transition to a flexible exchange rate has advanced further, supported by macroeconomic and foreign exchange market policy measures, and the parallel market premium has stabilized in single digits with rising FX supply. “Continuing to restrict NBE’s FX interventions and additional policy measures to support FX market development will be critical to enhance market efficiency and deepening. Prudent macroeconomic policies, including continued tight monetary policy and avoiding monetary financing of government deficits are essential to reducing imbalances and ensuring macroeconomic stability.” The new law governing the NBE represents a significant advance on the existing legal framework in most respects. However, closing the remaining gaps with respect to governance and autonomy is important, Clarke remarked. “The substantial progress made towards reaching an agreement on a debt treatment with the Official Creditor Committee under the G20 Common Framework is an important step towards restoring debt sustainability. The authorities are working on having an agreed Memorandum of Understanding by the time of third review, while also making progress on a comparable treatment with Eurobond holders and other external commercial creditors.”

Addis Ababa, January 17, 2025 (ENA) —Ethiopia’s Minister of Planning and Development, Fitsum Assefa, welcomed a Chinese delegation led by Lu Hao, President of the Development Research Center of the State Council of the People’s Republic of China, to discuss deepening China-Africa collaboration and shaping the vision for the soon-to-be-launched Global South Research Center. Fitsum emphasized China’s indispensable role as Ethiopia’s largest source of foreign direct investment (FDI) and a key trading partner, particularly in imports. She expressed Ethiopia’s desire to expand its agricultural exports to China, pointing to untapped opportunities that could foster mutually beneficial trade ties. Central to the discussions were Ethiopia’s sweeping macroeconomic reforms. Fitsum detailed the government’s bold initiatives, including the floating of the birr, opening the financial sector to foreign players, and the establishment of Ethiopia’s first securities exchange. “These reforms mark a transformative shift, unshackling Ethiopia from the chronic foreign exchange constraints that have long hindered its economic progress,” she said. Responding to Lu’s inquiries about priority sectors for Chinese investment, Fitsum highlighted Ethiopia’s remarkable achievements in agriculture, particularly its irrigated wheat initiative, which has positioned the country as self-sufficient in wheat production. “Leadership commitment has been instrumental in driving this transformation,” she remarked, crediting the government’s strategic backing for the sector’s success. The minister further outlined Ethiopia’s potential as a manufacturing hub for Africa, underscoring the nation’s competitive advantages, including a network of industrial parks, access to affordable and sustainable green energy, and a vast, trainable young workforce. She also spotlighted Ethiopia’s mining sector, urging investment that goes beyond resource extraction to include value-added processing. The digital economy featured prominently in the talks, with Fitsum describing it as a cornerstone of Ethiopia’s economic future. She emphasized its potential not only as a growth driver in its own right but also as a transformative force across other sectors of the economy. On the proposed Global South Research Center, Fitsum underscored the need for evidence-based policymaking tailored to the unique challenges of countries in the Global South. She emphasized the need for a decentralized approach, suggesting regional offices to enhance the center’s impact and proposing Ethiopia as the ideal host for an East African chapter. Lu Hao expressed admiration for Ethiopia’s bold reforms and strategic vision, commending the comprehensive recommendations presented by Minister Fitsum.   He noted that China’s demand for agricultural commodities has surged, highlighting Ethiopia’s vast agricultural potential as an opportunity to tap into this growing market. Lu also emphasized the importance of conducting high-quality geological surveys to attract mining investments and stressed the need for robust government oversight to establish clear rules for the sector. “In today’s global economy, having a comparative advantage is no longer sufficient; scale and strategic investments are critical,” he remarked. The meeting reinforced Ethiopia’s strategic vision of leveraging partnerships and economic reforms to position itself as a key player in Africa’s development narrative, while underscoring the potential for deeper China-Africa collaboration to drive growth and innovation.

Addis Ababa, January 16, 2025 (ENA)—Ethiopia and the United Nations (UN) have reaffirmed their commitment to strengthen commitment for accelerating the Sustainable Development Goals. Minister of Finance, Ahmed Shide held a high-level meeting with Deputy Secretary-General of the United Nations, Amina J. Mohammed. The meeting focused on accelerating the implementation of the Sustainable Development Goals (SDGs) at the national level, it was indicated. Minister Ahmed provided insights into Ethiopia’s strategies for enhancing SDG delivery, highlighting the need for strengthened coordination and increased resource mobilization. Both officials underscored the critical role of collaboration between the Government of Ethiopia, the UN Country Team (UNCT) in Ethiopia, the United Nations Economic Commission for Africa (UNECA), and the UN Resident Coordinator’s Office to align SDG initiatives with local development priorities. The discussion also emphasized the importance of enhancing partnerships between UNCT in Ethiopia and UNECA by leveraging regional expertise and establishing a clear division of responsibilities to better support Ethiopia’s development agenda. Additionally, they discussed the needs to improve the operational efficiency of the UN system in Ethiopia to achieve more impactful outcomes. Other key topics of discussion included Ethiopia’s ongoing macroeconomic reforms and preparations for the upcoming Fourth International Conference on Financing for Development. The Finance Minister further expressed Ethiopia’s profound gratitude for Amina J. Mohammed’s steadfast efforts to advance regional and global development goals. He reaffirmed Ethiopia’s commitment to deepening its partnership with the United Nations and contributing to Africa’s collective development ambitions on the global stage. Both parties stressed the importance of sustained dialogue and collaboration to address shared challenges, seize emerging opportunities, and maximize development impact. They reiterated their commitment to exploring innovative avenues for stronger cooperation in areas of mutual interest. There are 26 UN Agencies residing in Ethiopia which is one of the largest UNCT in the world.

Addis Ababa, January 16, 2025 (ENA) - The Ethiopian Diaspora Association has announced that the inaugural "Ethiopian Diaspora Month" will take place in Addis Ababa this January. January has been designated as “Ethiopian Diaspora Month”. This marks the first of its kind, with the association emphasizing its aim to strengthen diaspora participation in the country's development and related activities. General Manager of the Ethiopian Diaspora Association Kaleab Girma told ENA that the ongoing development initiatives in the country have sparked an increased desire among the diaspora to visit, invest in, and contribute to Ethiopia's social and economic sectors. According to Kaleab, the association is working in close coordination with relevant government institutions and partners to enhance diaspora participation in the overall development endeavors of the country. Some of the key initiatives include promoting the country’s tourism destinations, development opportunities, voluntary service sectors, and other relevant projects, he added. Accordingly, Ethiopian diaspora have been invited to participate in the event. The event will officially open on January 22, 2025, at Gion Hotel, it was learnt. The Ethiopian Airlines is offering a 20 percent discount on travel fares for the diaspora. A two-day exhibition will be held at the hotel, introducing various investment opportunities where the diaspora investors will have the chance to share their experiences.

Addis Ababa/Janurary 18/2025 A Chinese government delegation, led by President of the Development Research Centre of the State Council of China Lu Hao, arrived in Addis Ababa this morning. Up on arrival at the Addis Ababa Bole International Airport, Endalew Mekonnen, State Minister of Trade and Regional Integration of Ethiopia, welcomed the delegation.   The delegation is scheduled to have comprehensive discussions with the Minister of Trade and Regional Integration, Kassahun Gofe on bilateral trade, investment and related issues.

Addis Ababa January 15/2025 (ENA) The 26th World Organization for Animal Health (WOAH) Conference of the Regional Commission for Africa is set to take place in Ethiopia, focusing on strategies to prevent animal diseases with a view to ensuring food security across the continent. WOAH conference takes places every year in the month of May in Paris and the regional commissions of each continent is held every two years at continental levels. The 2025 World Animal Health Organization African Conference in Ethiopia will take place from 4-7 Feb 2025 in Addis Ababa under the theme "Animal Health for Food Security and Public Health in Africa," according to Ethiopia's Ministry of Agriculture. The conference will feature preliminary arrangements involving representatives from AU Member states mainly Chief Veterinary Officers (CVOs) /and Permanente delegates to the WOAH from 54 AU member states are expected to take part. Agriculture State Minister Fikru Regassa emphasized that during the conference, discussions will focus on Prevention and Control of animal diseases in Africa, as well as facilitating dialogues that aim to create disease-free countries. Fikru noted that global organizations working on food and nutrition will share various ideas and solutions, highlighting the importance of public health and animal health and their interconnections. He added that discussions will also cover how to improve livestock productivity, food security concerning children to tackle stunting, and the role of animal health in these efforts. The conference will foster collaboration with neighboring countries and regional partners to control animal diseases and enhance market access, he said. Countries will share their strategies for animal health management, and Ethiopia will showcase its animal health initiatives, development strategies, and best practices for global awareness, particularly in dialogue with African peers. The 25th WOAH Regional Conference for Africa was held in February 2023 in Gaborone, Capital of the Republic of Botswana.

Addis Ababa January 15/2025 (ENA) Ethiopian Investment Commission Commissioner Zeleke Temesgen has met with a high-level Ministerial delegation from the Government of Azerbaijan in Addis Ababa today. The delegation included senior officials from the Ministries of Foreign Affairs, Agriculture, and Economy, as well as representatives from the Investment Holding of Azerbaijan. During the meeting, the Commissioner highlighted Ethiopia's investment opportunities in key priority sectors and outlined major reforms the government has implemented over the past six years to enhance foreign private sector participation to the economy. He emphasized the comprehensive support services provided to foreign investors and the government's commitment to fostering conducive environment for international business operations in Ethiopia. The Azerbaijani representatives for their part expressed a strong interest in enhancing economic cooperation between the two nations. Both parties recognized the potential for collaboration in advancing critical sectors of their economies and stressed the need to expand the legal framework to facilitate bilateral investments. They agreed on the importance of organizing business events to promote partnerships between Azerbaijani and Ethiopian enterprises.   This visit is anticipated to be succeeded by a business delegation and forums in the coming months aimed at strengthening ties between the two countries, according to the Commission. Similarly, Minister of Agriculture, Girma Amente welcomed a delegation led by Azerbaijan's Deputy Minister of Foreign Affairs, Yalchin Rafiyev, at his office today to discuss opportunities for collaboration in agricultural development. During the meeting, Minister Girma Amente provided insights into Ethiopia's current agricultural status, emphasizing that agriculture accounts for one-third of Ethiopia's overall growth. Girma explained that Ethiopia's agricultural exports could reach up to 80 percent in foreign markets highlighting the importance of agricultural products in Ethiopia's exports. Despite being a leader in livestock numbers in Africa, Ethiopia faces challenges with low export rates and the need to increase the value of agricultural products for international markets. The two countries aim to collaborate on livestock and human development, as well as in areas like horticulture, water and land management, digital agriculture, integration technology, and other agricultural issues through a forthcoming memorandum of understanding.

Addis Ababa January 15/2025 (ENA) ­--Vice President of the Private Sector, Infrastructure, and Industrialization Complex of the African Development Bank (AfDB), Solomon Quaynor, commended Ethiopia’s successful macroeconomic reform efforts. Ethiopia’s Finance Minister, Ahmed Shide met with Solomon Quaynor, and his delegation to discuss ways of enhancing AfDB’s development cooperation in Ethiopia. On the occasion, the Minister acknowledged the AfDB’s critical role in supporting Ethiopia’s economic and social development aspirations with the current portfolio exceeding 1.2 billion USD investments in various sectors. Ahmed also highlighted Ethiopia’s ambitious reforms under the Homegrown Economic Reform Agenda with an emphasis on laying the foundation for a more sustainable and inclusive economy.   He also added the focus on accelerating growth and development through investments in key sectors such as infrastructure, energy, digital connectivity, and sustainability. The AfDB Vice President on his part commended Ethiopia’s successful macroeconomic reform efforts and expressed AfDB’s commitment to scale up its support on private sector engagement in view of the current favorable investment climate fostered by the ambitious reform efforts and policies. The two sides agreed to expand and collaborate on transformational private sector projects in strategic areas, according to the ministry of finance.

Addis Ababa January 14/2025 (ENA) ­-- Planning and Development Minister Fitsum Assefa said Ethiopia’s debt to GDP ratio has declined to 13.7 percent following the implementation of the comprehensive economic reform. In her briefing regarding the achievements of the macroeconomic reform and next endeavors, the minister noted that the government has been implementing new economic and social policy perspectives to address systematic and structural problems. The new policy perspective focuses on a multi-sectoral approach and prioritizes responding to fair share of citizens by implementing inclusive system, she added. According to Fitsum, priority has been given to agriculture, manufacturing industry, mining, tourism and the digital economy to make them contribute equally to development and rectify the imbalance of economic actors. As a result, a transfer of the government’s leading role in the economy to the private sector was affected. In this regard, structural transformation that aims at removing challenges to the development of policies for centuries is set as a goal, the minister stated. During the implementation of the first phase of the Home Grown Economic reform, large-scale reforms were carried out to modernize the economy and open it up for competition, she pointed out. To realize this, the country has revoked and implemented over 80 laws, the Commercial Code and the Investment Proclamation, the minister said, adding that the implementation of the reform has improved the service, business and investment environment and made the digital economy a reality. In addition to making public-owned enterprises productive and profitable, big companies such as Ethiotelecom that have been closed to the private sector for years are opened as per the new policy perspective, Fitsum elaborated. Following the reform, encouraging achievements have been registered in terms of increasing of government revenue by many folds as compared to the past by adjusting expenditure, improving on research-based project implementation and performance, and transferring subsidies to the intended purpose. Development in Ethiopia had been financed through huge debt burden, the minister stated, adding that various activities have been carried out to rectify such a trend during the past six years. In this respect, the country was able to ease debt by avoiding any commercial loans, debt rescheduling, and paying loans significantly. As a result, she revealed that Ethiopia's current debt to GDP ratio has fallen to 13.7 percent, recalling that the ration was over 30 percent before the reform. The comprehensive macroeconomic reform that has been implemented since July 2024, has also been registering significant achievements, particularly in areas such as foreign exchange management, revenue, and export revenue, among others, it was indicated.

Addis Ababa January 14/2025 (ENA) The Council of Ministers in its 41st regular session held today have deliberated on various issues and passed decisions. First, the Council of Ministers discussed draft bills to ratify two loan agreements of 53.3 million SDR (Special Drawing Rights) and 525.7 million SDR with the International Development Association (IDA) for the implementation of modernizing government services reform program and strengthening the financial sector respectively. According to the draft bill, the loans are interest free, with a minimal of 0.75 service charge and 6 years of grace period and 38 years for repayment. The Council affirmed that the terms of these loans are consistent with Ethiopia's debt policy and subsequently referred the draft proclamations to the House of Peoples' Representatives for approval. Next, the council discussed the amendment of investment incentives regulation.   Though the Investment Incentives Regulation no. 517/2022, has been in place, it has been recognized that amendment is required due to problems in its implementation and clarifying the provisions thereof. Accordingly, having deliberated on amendments of the regulation and incorporation of valuable feedback, the council has approved the regulation unanimously to become effect on the publication date of in the Federal Negarit Gazette. Third, the council discussed on a draft regulation to ratify the dissolution of the Public Enterprises and Administration to transfer its rights and responsibilities to Liability and Asset Management Corporation. After thorough discussions and the incorporation of feedback, the Council approved the regulation to take effect on date of publication in the Negarit Gazette.

Addis Ababa January 13/2025 (ENA)— A high-level business delegation from Reach Digital Company-UAE, led by its CEO, Feras Neim Mohammed Abusharkh, has kicked off its pre-investment visit in Ethiopia. The delegation commenced their visit by meeting with the Commissioner of Ethiopian Investment Commission, Zeleke Temesgen earlier today January 13, 2025. During the meeting, Commissioner Zeleke expressed the Ethiopian government's dedication to supporting and facilitating private investments in the country. He assured the delegation of the government's commitment to providing all necessary assistance to the company in its endeavors of investing in Ethiopia. Reach Digital Company-UAE Abusharkh’s CEO, Feras Neim Mohammed Abusharkh highlighted the company's significant expertise in Digital Transformation and Systems Integration since its establishment in 1999. He emphasized Reach Digital's track record of success in providing a wide array of IT services that enable organizations to excel in the dynamic digital landscape. Abusharkh also conveyed the company's interest to bring its global success stories to Ethiopia, showcasing their commitment to fostering digital growth in the region. Ambassador Plenipotentiary and Extraordinary of Ethiopia to the UAE and Chief Coordinator of the pre investment visit, underscored that Reach Digital's interest in Ethiopia underscores the country's growing appeal as a hub for innovation and technological advancement in the region. He also indicated that the visit by Reach Digital Company UAE's delegation marks a continuity in increasing business partnership and Economic collaboration between Ethiopia and the United Arab Emirates for mutual benefit. This significant visit was facilitated by the Embassy of Ethiopia in Abu Dhabi in light of strengthening bilateral business ties and promoting investment opportunities which lies at the core of Ethiopia’s Foreign Policy.

Addis Ababa January 13/2025 (ENA) — A Prominent advocate for the Grand Ethiopian Renaissance Dam (GERD) and owner of Kings of Abay Media, Ustaz Jemal Beshir emphasized how shared natural resources, such as the Nile River, play a vital role in fostering regional integration. He highlighted Ethiopia’s engagement to create regional integration by developing its potential natural resources on the principle of mutual benefit. Ustaz Jemal further stated that Ethiopia's endeavors to renewable energy development and supply to neighboring countries demonstrates its dedication to realizing integration in Africa. He emphasized that shared natural resources are vital instruments in creating economic integration. Ethiopia has taken a prominent position in promoting equitable use of the Nile River among the nations within the basin, he said, highlighting its significant role in the establishment of the Nile Basin Cooperative Framework Agreement (CFA) signed in Entebbe, Uganda. The Nile River riparian countries have critical role in ensuring sustainable and equitable utilization of the waters of the river, he said. In this regard, he cited that the entry into force of the Comprehensive Framework Agreement, which is a major breakthrough to foster cooperation among the basin's countries. He also pointed out that the Abay, Omo, Baro, and Tekeze rivers all originate from Ethiopia and flow to neighboring nations. In this context, the CFA is instrumental in forging cooperation among all Nile riparian states. The CFA offers numerous benefits by ensuring equitable distribution of water resources among Nile Basin countries.

Africa’s Path to Food Sovereignty Addis Ababa January 12/2025 (ENA) — Africa is a continent brimming with potential. The continent can produce enough food to sustain itself thanks to its wide range of climates and expansive agricultural regions. Nevertheless, Africa spends an incredible 50 billion USD annually on food imports in spite of its abundant resources. This situation not only illustrates the agricultural difficulties facing the continent, but it also highlights the pressing need for African countries to prioritize food sovereignty and make investments in their agricultural sectors. The reliance on imported food poses several significant risks, particularly for food security and economic independence. Many African countries find themselves vulnerable to global market fluctuations, trade disputes, and supply chain disruptions. The COVID-19 pandemic highlighted these vulnerabilities and pushed many nations to rethink their strategies for food production and distribution. By reducing food imports, African countries can bolster their economies, create jobs, and enhance resilience against global market shocks. To tackle this issue, experts reiterate that African governments must prioritize several key strategies to enhance local food production. First and foremost, investing in agricultural technology is critical. By adopting modern farming techniques, such as precision agriculture, biotechnology, and sustainable irrigation methods, farmers can improve yields and reduce waste. Furthermore, nurturing local food systems through investment in smallholder farmers is crucial. Smallholder farms provide a significant portion of Africa's food supply, yet they often lack access to resources and markets. Providing them with financial support, training, and access to essential inputs like quality seeds and fertilizers can empower local farmers to increase their productivity. CAADP Despite all these challenges, Africans have been collaborating collectively through the African Union as well as independently to tackle the aforementioned issues of food insecurity. In this context, it is important to highlight the Post-Malabo Comprehensive Africa Agriculture Development Program (CAADP). CAADP has long been a pivotal initiative aimed at transforming Africa's agricultural landscape. The program seeks to enhance food security and boost economic growth across the continent, addressing both the challenges and opportunities that exist in the agriculture sector. One of the key features of the CAADP is its focus on sustainable agricultural development, recognizing that Africa’s vast resources can be harnessed to foster food self-sufficiency. Following the Malabo Declaration, which was adopted in June 2014, African Union member states committed to a set of ambitious goals, including increasing agricultural productivity, enhancing value chains, and promoting inclusive and sustainable growth. The significance of this commitment cannot be understated, particularly as global food demands rise and climate change presents ongoing challenges. In fostering collaboration and partnership, the Post-Malabo CAADP emphasizes the importance of multi-stakeholder engagement. It advocates for broader involvement of diverse groups, including governments, private sector stakeholders, and civil society organizations. This inclusive approach aims to create synergy across sectors, enabling stakeholders to share best practices and innovative solutions. Furthermore, the program stresses the need for comprehensive investment in agriculture and rural development. There is a clear recognition that increased funding is essential to revitalize the agricultural sector. Countries are encouraged to increase their budgetary allocations for agriculture to at least 10 percent of national expenditures — a target that aims not only to improve productivity but to also enhance rural livelihoods and nutrition. Fostering regional integration can also aid in reducing food imports. By enhancing trade agreements and cooperation among African nations, countries can share resources, technology, and market access, making it easier to achieve food security collectively. Initiatives like the African Continental Free Trade Area (AfCFTA) should be utilized to promote intra-African trade, removing barriers that hinder the movement of agricultural goods.   Africa's annual expenditure of 50 billion USD on food imports is a challenge that can no longer be ignored. By implementing strategies to invest in technology, infrastructure, smallholder farmers, and education while fostering regional integration, African nations can take significant strides towards ending this dependency. The vision of a self-sufficient Africa, capable of feeding its population and engaging in sustainable economic growth, is not just a dream but an attainable goal—provided the commitment and resources are directed effectively to such efforts. Positive Outcomes One of the most significant positive results of the Malabo CAADP is the heightened commitment from African governments to invest in agriculture. The declaration emphasized the objective of dedicating a minimum of 10 percent of national budgets to the agricultural sector, resulting in increased funding for numerous agricultural initiatives. Nations such as Ethiopia have made impressive progress in meeting and surpassing this target, reflecting an increasing acknowledgment of agriculture's role as a catalyst for economic growth. Notably, Ethiopia has achieved a historic milestone by ceasing wheat imports for the first time. The Malabo CAADP has made strides in enhancing food security at a continental level. By addressing the challenges of hunger and malnutrition, the program has laid the groundwork for the African Union’s Agenda 2063 goal of ensuring a food-secure Africa. Through the mobilization of resources and concerted efforts among member states, there has been a marked reduction in the prevalence of hunger across several regions. 10-year CAADP Strategy: Africa’s Path to Food Sovereignty The African Union has intensified its initiatives to address one of the continent's longstanding issues. During the summit held in Kampala this week, it unveiled a decade-long strategy aimed at fostering agricultural transformation throughout Africa. The newly introduced Comprehensive Africa Agriculture Development Programe (CAADP) Strategy and Action Plan (2026-2035) is designed to confront ongoing challenges while also responding to new threats such as climate change and economic disruptions. Director for Agriculture, Food Security, and Environmental Sustainability at AUDA-NEPAD, Estherine Fotabong provided an overview of the new strategy, describing it as a result of a consultative and Africa-led process. “We have a comprehensive 10-year CAADP strategy that will guide our continent in tackling the pressing challenges we face in building sustainable and inclusive food systems.” The strategy emphasizes a food systems approach to address Africa’s complex agricultural needs, focusing on agro-processing, post-production, and resilience against climate shocks. Inclusivity is a core pillar, with a special focus on empowering women, youth, and marginalized groups to access resources and opportunities. As Africa sets its sights on the ambitious vision for 2026-2035, leaders are filled with hope that this strategy will unleash the continent's agricultural capabilities, fostering food security, driving economic growth, and promoting sustainable development. This initiative aims to save the over 50 billion USD of imports expense and potentially generate 100 billion USD by 2035 through enhanced investments in agricultural activities. The strategy is expected to serve as a crucial framework guiding Africa toward agricultural transformation. By prioritizing increased investment, regional collaboration, innovation, inclusivity, sustainability, and food security, this strategy transcends mere agricultural development; it acts as a powerful driver for broader socioeconomic advancement across the continent. The successes achieved so far underscore the immense potential of united efforts in building a resilient and prosperous agricultural sector in Africa.

Addis Ababa/ January 12, 2025 -- (ENA) African nations on Saturday adopted a new strategy to advance agricultural development and food systems, a key source of livelihood for the continent's population. The 10-year strategy and action plan to implement the Comprehensive Africa Agriculture Development Program (CAADP), along with a consensus document titled the Kampala Declaration, were announced on Saturday at the conclusion of the African Union Extraordinary Summit on CAADP in Kampala, the capital of Uganda. Under the new framework, African countries committed to intensify sustainable food production by increasing agri-food output by 45 percent by 2035 and reducing post-harvest losses by 50 percent. They also agreed to boost investment and financing in the agricultural sector, aiming to raise 100 billion U.S. dollars in public and private investments by 2035. To achieve these goals, African countries urge collective commitment from governments, parliaments, food producers, the private sector and civil society to translate decisions into tangible results.   "Together, we can transform Africa's agri-food system into a sustainable and inclusive future," the Declaration said. CAADP was established in 2003 to end hunger and fight poverty. At its inception, African countries pledged to allocate 10 percent of their national budgets to agriculture, with a focus on increasing investment in the sector. The three-day summit brought together over 2,000 delegates, including agricultural experts, ministers and heads of state from more than 40 AU members, to discuss the continent's challenges and future in the agricultural sector. The 10-year strategy and action plan to implement the CAADP, along with a consensus document titled the Kampala Declaration, were announced on Saturday at the conclusion of the Summit.

Addis Ababa/ January 11, 2025 ­(ENA)--- The launch of Ethiopian Securities Exchange (ESX) has the potential to position the country as a leader in Africa’s financial markets, according CEO of the Nigerian Exchange Group (NGX) Group. Prime Minister Abiy Ahmed launched the Ethiopian Securities Exchange (ESX yesterday, marking a transformative milestone in the nation's journey toward economic modernization. Speaking at the event, Temi Popoola, Group Managing Director and CEO of the Nigerian Exchange Group (NGX) Group, emphasized the significance of this initiative in reshaping Ethiopia’s economic future and strengthening its role in the continent’s financial ecosystem. He highlighted the importance of close collaboration between government and private sectors in ensuring the success of the capital market. “The involvement of government in what you are doing is absolutely critical,” he noted. He drew parallels between Ethiopia’s ambitions and global success stories like India, which has become a model for economic transformation through its capital markets. Ethiopia’s decision to responsibly open its markets and foster local and continental capital flows is pivotal to achieving its goals, he pointed out. Africa’s problems should be solved by Africans, first and foremost, he remarked. “This ability for Ethiopia to open up responsibly and attract both local and regional capital is key. By following this path, Ethiopia can become a financial hub in Africa.” Mentioning NGX Group's six-decade experience in capital markets, Popoola shared insights into diversifying financial instruments and expanding access to investment opportunities. With the right mix of innovation, policy support, and regional collaboration, Ethiopia’s capital market is poised to play a transformative role in the country’s economic development and establish its position as a continental leader in financial markets.

Addis Ababa January 10/2025 (ENA) —The Ethiopian Securities Exchange (ESX) is poised to revolutionize the nation's financial sector by creating a transparent, efficient, and accessible marketplace for securities trading. In a groundbreaking move for Ethiopia's economic and financial landscape, Prime Minister Abiy Ahmed officially launched ESX on Friday, marking a transformative milestone in the nation's journey toward economic modernization. This historic launch took place at the Ethiopian Science Museum, symbolizing Ethiopia's embrace of innovation and progress in its capital markets. By bridging capital with opportunity, the ESX will unlock new avenues for businesses, investors, and stakeholders, driving economic development and fostering financial inclusion across Ethiopia. The exchange is a cornerstone of the Ethiopian Government's economic reform agenda under the Home-Grown Economic Reform II (HGER II) initiative, spearheaded by the Prime Minister and aimed at enhancing financial inclusivity, mobilizing capital, and fostering investment-led growth across the country. ESX is expected to play a key role in supporting the expanding Ethiopian economy by promoting access to long term local currency financing for both the public (Government) and private sector. In doing so ESX will play its own role in improving the intermediation and mobilization of savings for investment for capital intensive investments, improve corporate governance and transparency; bring about an orderly market for listing and trading and settlement of securities thereby protecting investors. ESX was established in October 2023 through a pioneering public-private partnership with the Government of Ethiopia through the Ethiopian Investment Holdings (EIH), its strategic investment arm, as the founding shareholder, with a mandated total public shareholding of up to 25 percent, with the remaining 75 percent to be private shareholding.   At present, the list of investors includes foreign strategic investors, including FSD Africa, the Trade and Development Bank Group (TDB), Nigerian Exchange Group (NGX), along with 16 domestic private commercial banks, 12 private insurance companies, as well as 17 other private domestic investors. Public sector interests, jointly representing 25 percent of shareholding, include EIH and its subsidiaries such as Ethiotelecom and the Commercial Bank of Ethiopia, among others. CEO of ESX, Tilahun E. Kassahun commented that "The Ethiopian Securities Exchange is more than a market; it is a catalyst for change. Today marks the beginning of a new era for Ethiopia, where capital can flow freely to unlock opportunities, empower businesses, and transform lives. Together, we are building a robust financial foundation for future generations."