Addis Ababa November 23/2024 (ENA) Ethiopian Chamber of Commerce and Sectorial Associations (ECCSA) President Sebsib Abafira stated that the macroeconomic reform has revitalized the private sector through increasing its participation and benefits. Stabilizing the macroeconomy is among the economic policy measures taken to ensure the structural economic transformation in recent years. The Ministry of Planning and Development convened a high-level sessions among various stakeholders including ambassadors, heads of UN agencies, development partners and representatives of international organizations to discuss Ethiopia’s Economic Transformation driven by the implementation of the Homegrown Economic Reform. Numerous achievements have been acknowledged despite some challenges. Accordingly, the implementation of the Homegrown Economic Reform has registered tangible results across the nation, it was learnt. Among the outcomes of the macroeconomic reform is enhanced participation and benefits of the private sector, which are instrumental in achieving sustainable economic growth. President of the Ethiopian Chamber of Commerce and Sectorial Association Sebsib Abafira in an exclusive interview with ENA, expressed that the macroeconomic reform has fulfilled a long-standing aspiration of the private sector. Highlighting the indispensable role of the private sector for the overall development of the country, the president stated that the reform presents an opportunity to rectify longstanding issues. In this regard, the regulation passed to privatize stated-owned economic sectors fully or partially will enable to build inclusive, competitive, and sustainable economic system, the president noted. The manufacturing industry has been collaborating with the government to substitute imported products with locally produced items; imported products require high foreign exchanges, he elaborated, adding that the macroeconomic reforms have alleviated the previous foreign exchange bottlenecks facing the private sector in importing products and inputs. He also noted that the macroeconomic reform is addressing operational inefficiencies within the business system. Emphasizing the need for cooperation from all stakeholders in implementing macroeconomic reforms, the president assured that the private sector will exhibit continued cooperation and national responsibilities. He highlighted Ethiopia's efforts to participate in various continental and global business environments, including the accession to the World Trade Organization, which requires strong competition and a robust private sector. Finally, the president called on stakeholders, including financial institutions, to work together to strengthen the private sector.  

Addis Ababa November 23/2024 (ENA) President Taye Atske Selassie underscored that the government of Ethiopia is working hard to ensure the country's benefit from the mining sector by properly utilizing its untapped mineral resources. The president officially opened the 3rd International Mining and Technology Expo 2024 today at the Millennium Hall in Addis Ababa today. Speaking on the occasion, President Taye mentioned that Ethiopia is a country with potential mineral resources. The president highlighted the efforts being carried out by the government of Ethiopia to exploiting this mineral potential of the country to help expedite its development, citing the recently implemented mining policy and the macroeconomic reforms. The third edition of mining and technology expo (MINTEX 2024), that brought together various international and domestic companies engaged the sector, will be held for the coming 4 days at the Millennium Hall.   Investors, financial institutions, scholars, prestigious companies engaged in the sector, ambassadors of various countries and representatives of international organizations are participating at the Expo. Panel discussions and exchange of experiences will be organized on the margins of the expo to highlight the potential of the sector for investment. The event is expected to provide a convenient opportunity for domestic companies to promote and sell their products to the international market. Mining is one of the five priorities of the government in its Homegrown Economic Reform Agenda as Ethiopia is a country endowed with immense mineral resources.    

Addis Ababa November 23/2024 (ENA) Prime Minister Abiy Ahmed has officially inaugurated ‘Quality Village’ today. "Before officially inaugurating ‘Quality Village ‘today, I had the opportunity yesterday to visit and review the National Quality Infrastructure we have developed," the premier said on social media post.   The newly Inaugurated ‘Quality Village’ is critical institution designed to catalyze the competitiveness of Ethiopia's local products in global markets and enhance its participation in global value chains, Abiy stated. "As one of our leading national institutions, it will play a vital role in strengthening our export capabilities and ensuring we remain competitive in the international arena," the prime minister added.  

Addis Ababa November 22/2024 (ENA) Indian Ambassador to Ethiopia, Anil Kumar Rai expressed India’s keen interest to boost economic cooperation with Ethiopia particularly in the mining, construction and infrastructure sectors. Speaking to ENA, the ambassador reaffirmed India’s longstanding partnership with Ethiopia, emphasizing a shared commitment to development and economic cooperation between the two countries. India is one of old trusted partner of Ethiopia in development, the ambassador added, pointing out that India hosts a significant number of Indian companies that have established roots in the country with many generations considering Ethiopia their home. He stated that among the sectors poised for development, the mining industry is the major one as Ethiopia is rich in untapped mineral resources, including phosphate and potash deposits in the Afar region, iron deposits in Amhara and Benishangul Gumz, and substantial gold reserves. Indian companies, which have certain core competencies in areas of mining sector, have keen interest to invest in the exploration and extraction of valuable mineral resources, the ambassador underscored. “Many of the sectors which will emerge out of the homegrown economic reform process, we will be keen and interested, mainly in the mining sector. Because, Ethiopia has unexplored potential of important mines and mineral products starting from phosphate and potash deposit in Afar region, iron deposit in Amhara and Beninshangul Gumz regions as well as the substantial amount of unexplored and untapped gold reserves. These are the areas where India has certain core competencies and we have large companies with a very long history of dealing in these areas of the sector. Plus, we also have a robust private sector which is looking for investments in this sector.” Furthermore, the potential to develop a robust metallic sector is promising, given Ethiopia's abundant land and water resources, alongside plans to become a leading producer of affordable electricity, he explained, indicating that this combination positions Ethiopia as an attractive destination for Indian investors looking to tap into the metallic market. Beyond mining, India is interested in enhancing collaboration on construction and heavy infrastructure projects, particularly in urban rejuvenation and the development of urban centers, he pointed out. Above all, the ambassador appreciated Ethiopia’s move of embarking on ambitious economic reforms aimed at fostering growth and attracting foreign investment, underscoring that as Ethiopia continues to tackle its economic challenges and creating enabling environment for private sectors, Ethiopia would emerge as a significant hub for global investments, including from India. “Coming on the ground, we see that the economic reform has been taking place in Ethiopia. And, we feel that if the government of Ethiopia is tackling economic issues, this will emerge Ethiopia as an important center for investments from across the world including from India.”  

Addis Ababa November 22/2024 (ENA)-Farmers in the Arsi Zone have reported significant benefits from supplying barley for beer production to local brewing factories, highlighting their contribution to the national economy and self-reliance efforts. A group of media professionals are visiting agricultural production activities in the Oromia Region, specifically in the Arsi Zone. The visit, organized by the Government Communication Service, aims to assess the integration of farming clusters and their impact on productivity.   During their field visit to Limu Bilbilo Woreda in the Arsi Zone, the group observed farmers engaged in the cultivation of barley specifically designated for beer production under a cluster farming system. These farmers supply their produce directly to the Assela Malt Factory, ensuring a stable market and improved livelihoods. Girma Kebede, a barley farmer in the area, stated that the cluster farming arrangement has significantly enhanced productivity and market access. He noted that farmers achieve yields of up to 50 quintals per hectare, which they supply directly to the factory. This eliminates market uncertainties and ensures a steady income stream. The increased focus on locally sourcing barley aligns with Ethiopia’s broader economic strategy to substitute imports with domestically produced goods. The government of Ethiopia is encouraging farmers to produce on a large scale with a view to enhance import substitution and export trade. According to officials, the government’s initiative has led to a substantial expansion of barley production, reducing dependency on imported malt barley. Arsi Zone Agriculture Bureau Head Gena Mohammed revealed that 177,000 hectares of farmland in the zone are dedicated to barley cultivation, with an anticipated yield of 6.9 million quintals. Harvesting and collection activities are already underway in key areas. Moreover, efforts are being made to distribute high-quality barley seeds to farmers nationwide, further enhancing productivity and expanding the reach of malt barley farming in Ethiopia.   Government Communication Service, State Minister of Kebede Desisa, highlighted that Ethiopia has now achieved full self-reliance in malt barley production, a remarkable shift from previous years when the country heavily relied on imports. The government’s emphasis on mechanized and cluster farming has resulted in improved productivity, benefiting farmers and contributing to the broader goal of economic sustainability., he added. This progress reflects the government’s commitment to creating opportunities for local industries to source raw materials domestically, strengthening Ethiopia’s position in agricultural self-sufficiency.

Addis Ababa November 22/2024 (ENA) The Ethio-China Friendship and Cooperation Committee has vowed to work on various initiatives, including promoting Ethiopia's coffee on the global stage, according to the Ministry of Foreign Affairs. State Minister of Foreign Affairs, Ambassador Mesganu Arga, held discussions with senior members of the Ethio-China Friendship and Cooperation Committee today. Betty Xu, Chairperson of the Ethio-China Friendship and Cooperation Committee shared that during her previous visits to Ethiopia, she observed Ethiopia's vast investment opportunities. She also expressed interest in promoting these opportunities in the Chinese market and strengthening trade partnerships. She emphasized the Committee's commitment to working on various initiatives, including promoting Ethiopia's coffee on the global stage. She also underscored the Committee's priorities on supporting Ethiopia’s renewable energy initiatives and facilitating investments in the mining sector.   The Chairperson further expressed the Committee’s interest in deepening the partnership between Ethiopia and China across various sectors, particularly in opening electric vehicle assembly plants, including those for three-wheelers and automobiles, in Ethiopia. Ambassador Mesganu commended the Committee's contributions to fostering Ethio-China relations and emphasized the need to maximize Ethiopia's investment opportunities. He highlighted that among Ethiopia's priority development sectors, the mining sector requires more focused efforts to attract Chinese investors. The State Minister also noted the importance of promoting Ethiopia’s globally recognized coffee production and stressed leveraging upcoming cultural and investment promotion events to enhance cooperation between the two countries. It is recalled that the Ethio-China Friendship and Cooperation Committee facilitated a field visit to Ethiopia for a large number of Chinese business organizations several months ago.    

Addis Ababa November 22/2024 (ENA)-The African Union (AU) and two United Nations agencies have called for concerted efforts in building resilient industries capable of navigating external shocks to drive Africa's development aspirations. The joint call by the AU, the UN Industrial Development Organization (UNIDO) and the UN Economic Commission for Africa (UNECA) was made in a joint statement issued on the occasion of Africa Industrialization Day, which is commemorated every year on Nov. 20 in line with African leaders' decision in 1989. Reaffirming their joint commitment to advancing inclusive, sustainable, and resilient industrialization as a pathway for Africa's structural transformation, the three organizations underscored that industrialization remains the linchpin of Africa's development ambition. Noting that industrialization is crucial to address Africa's socioeconomic challenges, such as poverty, unemployment and inequality, they emphasized the need to build Africa's resilience amid challenges in the global industrial landscape, which is increasingly shaped by global supply chain disruptions, the economic consequences of geopolitical conflicts and environmental challenges. "These events underscore the necessity for Africa to build resilient industries capable of navigating such external shocks. Africa must seize opportunities to diversify its industrial base, leveraging its natural resource endowment, youthful population, innovation and rising middle class," the joint statement read. They also emphasized the urgent need for Africa to be fully part of the fourth industrial revolution and utilize emerging technologies including artificial intelligence, blockchain, robotics, and 3D printing technology to build industries that are beneficial to current and future generations. The three organizations highlighted the importance of creating conducive environments for investments in infrastructure, skill development, and industrial productivity, emphasizing the role of the private sector in advancing innovation and competitiveness. Underscoring the collective need to advance Africa's economic diversification in line with the AU's 50-year continental development blueprint Agenda 2063, the three organizations called on partners and stakeholders to join forces to expedite Africa's industrialization. "Our shared efforts will drive the continent towards greater economic resilience, social equity, and environmental sustainability, ensuring that Africa takes its rightful place as a global industrial powerhouse," the joint statement said. UN Secretary-General Antonio Guterres, in a message issued Wednesday on the 35th anniversary of Africa Industrialization Day, urged Africa to harness the transformative potential of technology and advance inclusive and environmentally conscious development and economic growth.  

Addis Ababa November 22/2024 (ENA)The Ethiopian Agriculture Authority has announced collaborative efforts to establish cattle rearing and fattening centers for livestock exporters to enhance the quality and quantity of meat exported to international markets. These initiatives aim to supplement the regular market by enabling exporters to develop their own facilities for livestock rearing and meat processing. A recent field visit near Adama highlighted the progress made in setting up fattening centers, with the Authority providing capacity-building training to stakeholders involved in the sector.   This training focuses on meeting export standards and addressing the demands of international markets, particularly in the Middle East. Deputy Director General of the Ethiopian Agriculture Authority, Hamid Jemal, emphasized that increasing the volume of export meat contributes significantly to the country's revenue from livestock resources. He further highlighted that the initiative ensures that Ethiopian meat meets the specific requirements of destination countries, enhancing market acceptance and competitiveness. Out of the 11 licensed meat exporters currently operating, two companies have already established their own processing and fattening centers. These facilities enable them to prepare livestock in the required numbers and weights for export. This approach has been identified as a best practice to be scaled up across the industry, he said.   The Authority's Director of Livestock Product Quality Control, Ayalew Shumet, pointed out that the primary objective of the ongoing efforts is to improve the quality and efficiency of meat exports. With the global demand for sheep, goats, camels, and cattle on the rise, Ethiopia aims to position itself as a reliable supplier by ensuring its products meet international standards. The initiative also contributes to reducing illegal livestock trade, creating an enabling environment for macroeconomic stability. Stakeholders in the livestock export sector have been urged to seize this opportunity to operate at their full potential and support the country's broader economic goals.      

Addis Ababa November 22/2024 (ENA)The Ministry of Transport and Logistics organized the Ethio Green Mobility 2024 Exhibition at the China-Ethiopia Huajian Light Industrial Park today. Among the distinguished guests were Speaker of the House of Peoples' Representatives, Tagesse Chafo, Transport and Logistics Minister Alemu Sime, and other ministers and government officials.   The Expo showcases the latest innovations in sustainable mobility, including cutting-edge electric vehicles and renewable energy technologies. The event also provides a platform for networking and collaboration among stakeholders from various sectors, create market link between local and foreign companies and facilitate experience sharing between firms engaged in green transition thereby driving Ethiopia’s vision for a greener future. The Expo is believed to create an opportunity to showcase Ethiopia's commitment to sustainable transportation and its efforts to build a climate-resilient green economy.  

Addis Ababa November 21/2024 (ENA) Experts from various professional institutions gathered to share insights on Ethiopia’s economic transformation agenda, following a detailed presentation by Fitsum Assefa, Minister of Planning and Development. Following yesterday’s dialogue with development partners on Ethiopia’s long-term economic transformation, organized by the Ministry of Planning and Development, today's session focused on the vital contribution of academia and professional associations. Minister of Planning and Development, Fitsum Assefa, delivered a powerful presentation tracing Ethiopia’s development policies and priorities over the past six decades. Her analysis highlighted the challenges encountered and the opportunities leveraged, especially in light of recent political reforms. The discussion centered on the country's long-term path toward sustained growth and development. Key contributions came from prominent figures in economic and policy research. Senior Country Economist at the International Growth Center (IGC), Dr. Tewodros Mekonnen emphasized the need for ongoing reevaluation of Ethiopia’s structural transformation efforts to ensure sustainable and inclusive growth. Dr. Alemayehu Seyoum, Senior Research Fellow at the International Food Policy Research Institute (IFPRI), highlighted the importance of bridging theory and practice to enhance economic knowledge, which is essential for effective policymaking.   Senior Advisor at The Tony Blair Institute (TBI), Dr. Taffere Tesfachew discussed trends in export items, underlining the crucial role of exports in driving Ethiopia’s economic development. The discussion also covered a range of key topics, including capacity building, peace and security, market dynamics, investment in public goods, public-private partnerships, sectoral policy alignment, inflation, unemployment, and the impacts of climate change on agriculture. Participants posed questions and reflections, prompting responses from Fitsum Assefa and Eyob Tekalign, State Minister of Finance. The dialogue underscored the essential role of professionals, researchers, policymakers, and academic institutions in overcoming challenges and seizing opportunities for sustainable economic transformation. The event highlighted a consensus on the importance of expert input in shaping Ethiopia’s future, reinforcing the collaborative effort needed to achieve long-term economic success. The event brought together scholars, professional associations, higher education representatives, and government officials to discuss “The Role of Academia and Professional Associations in Supporting Long-Term Economic Transformation.” The discussion emphasized the crucial role of professionals, researchers, and policymakers in overcoming barriers to growth and seizing opportunities for sustainable development and transformation.  

Addis Ababa November 21/2024 (ENA) Ethiopian Investment Commissioner Zeleke Temesgen underscored that Ethiopia’s vast potential for companies in the textiles and garments industry has been steadily growing. The Global Linen Textile Forum 2024 held in Addis Ababa today organized by the Ethiopian Investment Commission and key partners and brought together participants from 15 countries. Co-hosted by Kingdom (Ethiopia) Linen PLC, Kingdom Holdings Limited, the China Bast & Leaf Fibres Textile Association, and The Alliance for European Flax-Linen & Hemp, the forum marked a major milestone for Africa’s linen sector.   In his remarks, tEthiopian Investment Commissioner Zeleke Temesgen highlighted the country’s commitment to sustainable growth and investment opportunities. According to him, Ethiopia with over 70 percent of its 120 million people under 30, the country would offer a young workforce, abundant natural resources, and sizable arable land suitable for textile raw materials. Bolstered by its strategic position in the global economy, improved capital productivity and competitive labor market, Ethiopia has been emerging as the new regional sourcing destination for textile and apparel, it was learned. Foreign direct investment in Ethiopia’s textile sector has surged, growing from 16 million USD in 2015 to over 500 million USD today, with projections to exceed 1 billion USD by next year. Strategically located with robust infrastructure, including the Addis Ababa-Djibouti railway and Bole International Airport as it is Africa's busiest cargo hub, the East African nations provide easy access to global markets. The government has also established Special Economic Zones (SEZs) with a stable power supply to support export-focused manufacturing, he indicated. "Ethiopia is committed to sustainability, generating 95 percent of its electricity from renewable sources, making it an ideal location for environmentally-conscious production. The country offers attractive incentives, including up to 10 years of tax exemptions, streamlined customs, and benefits for machinery and raw material imports." Since 2018, the Ethiopian government has implemented a series of reforms to create a more attractive environment for private sector growth. Key reforms include liberalizing investment opportunities, easing restrictions on foreign investments, and ratifying special economic zones. Additionally, Ethiopia is in the process of joining the World Trade Organization (WTO) and actively participates in the African Continental Free Trade Area (AfCFTA) that would enable the country to expanding market access for investors and promoting trade. Commissioner Zeleke invited global investors to join Ethiopia's transformative journey, aligning with sustainable practices that meet growing eco-conscious demand. “Investing in Ethiopia means choosing a future of sustainability, innovation, and prosperity,” he said. On his part, Chairman of Kingdom Holding Group, Ren Weiming emphasized the forum’s role in advancing the linen industry, which has brought about some 70 million USD worth of investment in Ethiopia. “Today, we are united for linen. In this era of globalization, with so much economic uncertainty, the flax industry faces numerous opportunities and challenges. Here, we exchange ideas, share experiences, and explore innovative approaches together, with the aim of driving sustainable development in the flax industry and enhancing the competitiveness of flax products in the market,” he said. The Kingdom Ethiopia factory, the largest flax spinning facility in Africa, created over 1,100 jobs and strengthened the region’s textile industry, it was indicated. The Global Linen Textile Forum 2024 highlighted Ethiopia’s growing position as a major player in the global linen market and its potential to drive the future of sustainable textile production.  

Addis Ababa November 21/2024 (ENA) Deputy Prime Minister Temesgen Tiruneh emphasized that strengthening the country's ongoing efforts in agriculture and other development sectors is crucial for propelling Ethiopia to new heights. The Deputy PM recently praised the development of teff cluster farming cultivation in Dejen Woreda, East Gojjam Zone of Amhara Region, stating that it as a symbol of peace and agricultural abundance.   In his social media post, Temesgen elaborated the potential to propel Ethiopia forward by building upon our existing work in agriculture and other development fields, adding that “the country's focus on cluster agriculture has been yielding substantial results”. He specifically commended the successful teff cluster cultivation in Dejen Woreda. The Deputy Prime Minister recognized it as one of the most profitable areas in the Amhara Region and he expressed confidence in a bountiful harvest this year, citing improvements in input supply, distribution methods, and irrigation infrastructure. He also urged the community to continue prioritizing peace and development, and extended his sincere gratitude to the people of East Gojjam Zone, particularly the residents of Dejen Woreda, for their exceptional agricultural practices and warm reception.  

Addis Ababa November 21/2024 (ENA)Ethiopia has launched today a National Coffee Stakeholder Engagement Platform to properly utilize the resources of the sector by addressing the existing challenges. Speaking during the occasion, Ethiopian Coffee and Tea Authority Director-General Adugna Debela said the platform will have immense importance in addressing challenges in the sector and utilize opportunities effectively. According to him, the platform provides an access for all stakeholders to discuss on various coffee related issues from cultivation to the market with the view to enhance coffee productivity and quality. Adugna further noted that the National Coffee Platform will also create transparency in the sector by easily monitoring the overall activities of stakeholders engaged in the sector in various ways with a view to addressing challenges and enhance efficiency. Finance State Minister, Semerita Sewasew on her part said the establishment of this platform will play a pivotal role in shaping the future of the coffee sector in Ethiopia. She added that the Platform is a crucial step forward in tackling the challenges and seizing the opportunities in the sector.

Addis Ababa November 21/2024 (ENA) The Council of Ministers, in its 40th regular session, has approved a supplementary budget of 581,982,390,117 Birr to address additional budgetary needs and cost adjustments for the ongoing 2024/25 Ethiopian fiscal year. The council discussed the budget in detail and unanimously decided to refer it to the House of Peoples’ Representative for approval. The Council of Ministers also passed decisions on other multiple draft bills, according to the Office of the Prime Minister. Initially, the Council deliberated on a draft bill of the Medium-Term Macroeconomic and Fiscal Framework for the period 2024-2025, which will guide the implementation of macroeconomic and fiscal reforms as part of the second phase of indigenous economic reform. According to a statement released by the Council of Ministers, the Council has unanimously approved a medium-term macroeconomic and fiscal framework. This framework will inform the 2024/2025 federal government supplementary budget and expenditure adjustments. Acknowledging this supplementary budget aligns with the recently approved framework and addresses additional budgetary needs and cost adjustments, the Council passed a decision unanimously that the policy to become effective with additional inputs. Next, the Council of Ministers discussed the federal government's supplementary budget and expenditure adjustment proclamation. The supplemental budget and expenditure coverage adjustments have been prepared taking into account the government's financial capacity and expected revenues, additional budget and expenditure considerations in order to enable the implementation of the revised 2024-2029 medium-term macroeconomic and fiscal framework. Moreover, the Council discussed a bill establishing the Institute of Certified Accountants in Ethiopia. This institute aims to develop a robust system of financial reporting and presentation in both the public and private sectors by producing highly qualified professionals. After extensive discussion, the Council of Ministers referred it to the House of People’s Representatives (HPR) for approval. The Council also deliberated on the Solid Waste Management and Disposal Bill, which seeks to address the environmental and health risks posed by solid waste, particularly in light of the country's Green Legacy initiative and corridor development projects. According to the statement, key measures include prohibiting the import of single-use plastic products and establishing a comprehensive system for solid waste collection, transportation, storage, reuse, recycling, and disposal with community and stakeholder involvement. Then the bill was referred to the House of People’s Representatives for approval. Furthermore, the Council discussed a regulation amending the establishment rules of the National Rehabilitation Commission, it stated, noting that this amendment is necessary to enable the Commission to effectively fulfill its legal mandates and responsibilities. Therefore, the Council decided to implement the regulation effective its date of publication in the Negarit Gazette. The Council also deliberated on the Water Body Shoreline Demarcation, Development, Maintenance, and Use Bill. This bill aims to protect and sustainably develop water body shorelines, preventing damage and enhancing ecosystem services. By safeguarding these shorelines, the bill seeks to improve the well-being of local communities and contribute to economic growth. The Council unanimously approved the bill and forwarded it to the parliament. Additionally, the Council has discussed the bill establishing the Supreme Council of Basins. This council will play a crucial role in promoting integrated water resource management at the basin level, ensuring the equitable and sustainable use of Ethiopia's surface and groundwater resources, by fostering collaboration among relevant stakeholders, the council will contribute to the development, use, maintenance, protection, and control of water resources. Finally, the Council of Ministers unanimously approved the bill and referred the House of People’s Representatives for approval.  

Addis Ababa November 21/2024 (ENA) Minister of Labor and Skills, Muferihat Kamil has underscored the pivotal role of Ethiopia's ongoing skill-led job creation strategy in fostering sustainable and favorable employment opportunities for its citizens. The 2024 World Vocational and Technical Training Education Development Conference, themed "Innovation Empowers the Future; Skills Enlighten New Life," is underway in Tianjin, China, from 20 to 22 November, 2024.   Addressing the conference, Muferiat highlighted Ethiopia's commitment to advancing Technical and Vocational Education and Training (TVET). Ethiopia's participation in such international conferences is essential for strengthening global collaboration in this field, the minister emphasized, the minister posted on her social media. She added that the theme of the conference is aligned with Ethiopia’s national development agenda. In accordance with the set direction put forward by the Homegrown Economic Reform to steadily reduce unemployment rate, Muferiat said that the ministry is implementing skill-led job creation strategy, which is instrumental in creating sustainable and conducive job environment for citizens. The Minister further emphasized the importance of integrating innovation and green development practices into the country's skill development initiatives. She also highlighted the significance of reforming employer-employee relations to foster a productive and mutually beneficial work environment. The minister expressed gratitude to the Chinese government for its continued support to strengthening Ethiopia's TVET sector.

Addis Ababa Novembre 21/2024 (ENA)The governments of Ethiopia and Japan have signed an exchange of notes for a grant aid project titled “The Project for the Improvement of Secondary Schools in Sidama Region.” The project, valued at approximately 9.6 million USD, will benefit around 3,600 students in the Sidama region through the construction of five new secondary schools equipped with facilities such as student desks, chairs, and laboratory equipment. During the signing ceremony, Finance Minister Ahmed Shide commended the Japanese government for its unwavering commitment to promoting quality growth, poverty eradication, peace, and stability. He expressed appreciation for Japan’s support, emphasizing how it aligns with Ethiopia’s development priorities. The Minister also highlighted recent progress in Ethiopia’s reform agenda, reflecting the country’s commitment to building a more resilient and stable economy. Ahmed stressed the need for continued support from partners like Japan to implement this historic reform program effectively. Ambassador of Japan to Ethiopia, Shibata Hironori expressed hope that the grant aid project would benefit children in the Sidama region and contribute to Ethiopia's future, emphasizing the importance of education as the foundation of a nation. He also noted that the initiative would further strengthen the friendship between the governments and peoples of Ethiopia and Japan. Minister of Finance, Ahmed Shide, and Ambassador of Japan to Ethiopia, Shibata Hironori as well as Chief Representative of the Japan International Cooperation Agency (JICA) Ethiopia Office, Oshima Kensuke signed the agreements.  

Addis Ababa Novembre 21/2024 (ENA)Deputy Executive Secretary and Chief Economist of the Economic Commission for Africa (ECA), Hanan Morsy has highlighted the urgent need for financing to help Africa achieve the Sustainable Development Goals (SDGs) by 2030. Speaking during the CEEW Leaders’ Dialogue at COP29 in Baku, Azerbaijan, on Morsy lamented that the global SDG financing gap has now expanded to 4 trillion USD annually. Africa alone requires 170 billion USD each year to address shortfalls in energy, water, and transport infrastructure. “Without sweeping financial reforms, Africa’s future could be at risk,” she warned. The ECA Chief Economist emphasized the disparity in global clean energy investments, noting that despite Africa’s vast renewable potential, the continent receives only 2 percent of global clean energy funding. Africa remains home to over 75 percent of the global population without electricity and nearly half of those lacking clean cooking solutions. “That’s not just an economic failure; it’s a failure of vision, a missed opportunity for the world.” Addressing this imbalance, Morsy underscored Africa's potential in green industrialization, warning that exporting raw materials equates to exporting development opportunities. She argued for incentives that promote local processing and value addition rather than raw resource exportation. “Aligning global incentives with sustainable visions could help Africa leverage its resources to drive economic growth, Morsy stated. She proposed a three-pronged strategy to close Africa’s SDG financing gap. First, she called for affordable finance at scale, advocating for multilateral development banks to mobilize concessional financing on an unprecedented scale. “SDRs should be rechanneled to where they are needed most,” she argued, urging the capital markets to become instruments of opportunity rather than barriers. Secondly, she made the case for a “just debt framework,” emphasizing that no nation should be crippled by debt while striving for development. Reforms to the G20 Common Framework and new tools like green and blue bonds could create fairer financial terms. “We must create conditions where investors view Africa not as a risk but as an opportunity,” Morsy said.Finally, she highlighted the need for Africa to harness its own resources. Strengthening tax systems, curbing illicit financial flows, and building local capital markets, she argued, would unlock vast pools of domestic capital, empowering African nations to lead their development. Morsy also noted the interconnected nature of today’s global challenges. “Shocks are everybody’s problems,” she said, pointing out that climate and development issues affect everyone. She advocated for a shift in global narratives to emphasize human impacts over statistics, stressing that decisions made today will shape the future. Morsy’s remarks underscore a shared global responsibility to act. “Africa’s future is the world’s future,” she concluded, calling for a collective effort to build a just, equitable, and sustainable world.  

Addis Ababa November 20/2024 (ENA) Development partners expressed commitment to continue supporting for Ethiopia's long-term ambition of economic transformation. A high level dialogue convened today with development partners to advance Ethiopia’s long-term economic transformation agenda with the presence of Minister of Planning and Development Fistum Asefa, Minister of Finance Ahmed Shide, ambassadors, heads of UN agencies, representatives of international organizations, members of the diplomatic corps, civil society representatives, among others. The dialogue that underlined enhanced collaboration and engagement of development partners to support Ethiopia's long-term economic transformation. Planning and Development Minister Fitsum Assefa provided updates on outcomes of Ethiopia’s comprehensive macroeconomic reforms, highlighting successes made challenges encountered in infrastructure, agriculture, industry and tourism sectors over the past six years. For sustanability, she mentioned further support required from development partners to overcome the challenges. At the occasion, various development partners commended the Ethiopian government's efforts for taking macroeconomic measures aimed at fostering sustainable development. UN Resident Coordinator Ramiz Alakbarov noted that Ethiopia's strategic policies create a conducive environment for sustainable development. He expressed the UN's commitment to collaborating with Ethiopia's initiatives in digital technology, agriculture, renewable energy, and the likes. Ashley Mulrney, Co-Chair of the Canadian Development Partners Group, comprising 35 partners, affirmed its dedication to working alongside Ethiopia in achieving its long-term development aspirations. Resident Representative for UNDP Samuel Doe in Ethiopia, on his part emphasized Ethiopia's ongoing economic reforms will drive significant change and reiterated his commitment to supporting initiatives that engage the private sector, particularly small and medium enterprises. He also highlighted UNDP's focus on strengthening cooperation in policy issues, education, and other critical areas. Vinayak Nagaraj, a senior economist at the World Bank in Ethiopia, on his part underscored Ethiopia's vast potential in manufacturing, agriculture, services, and trade, among other sectors, reaffirming the World Bank's commitment to supporting Ethiopia in its agenda of long-term economic transformation.  

Addis Ababa November 20/2024 (ENA) Prime Minister Abiy Ahmed has inaugurated a state-of-the-art gold exploration and mining factory in Dima Woreda, Gambella Region of Ethiopia, today. The factory is established by ETNO Mining, a subsidiary of Akobo Minerals, which is a Scandinavian-based gold exploration and mining company operating in partnership with the Ethiopian Government through Ethiopian Investment Holdings. The Premier expressed optimism that Ethiopia could achieve a historic milestone by generating up to two billion USD in gold revenue this year, which is a historic first. "For the first time in Ethiopia's history, we anticipate earning up to two billion USD solely from gold exports this year. This goal is achievable thanks to sustained efforts over the past three years," he stated. However, the Prime Minister emphasized that this revenue potential reflects only a fraction of Ethiopia's untapped mineral wealth, which includes tantalum, iron ore, lithium, and other valuable resources. He called for leveraging Ethiopia’s rich mineral deposits for national development, noting that illegal mining and limited investment have long hindered the sector’s growth along with others. PM Abiy highlighted the transformative impact of the new factory, which will modernize gold extraction in a region previously dominated by small-scale traditional mining. "Dima’s abundant gold resources have been underutilized for decades due to traditional practices that result in substantial wastage. This investment ensures efficient, high-quality extraction," he said. The factory is designed to process large quantities of gold with unparalleled efficiency in Africa, making it a strategic asset for the country. Its advanced technology will triple production in a short time, significantly boosting Ethiopia’s mining capacity, he elaborated. PM Abiy reiterated the government’s commitment to prioritizing the mining sector as a key driver of Ethiopia's economic transformation. He announced plans to establish additional factories in a short period of time to harness the country’s extensive mineral wealth. This is only the beginning. Ethiopia’s mining sector is poised for remarkable growth, with investments like this laying the foundation for broader industrialization and development, he remarked. The Premier urged collective efforts to realize Ethiopia's vision for sustainable growth across agriculture, mining, technology, tourism, and other sectors, ensuring shared prosperity for all citizens. "Together, we can transform Ethiopia into a beacon of economic progress," he concluded. ETNO Mining, operating in partnership with Ethiopian Investment Holdings, represents Ethiopia’s first major foreign-private sector and government collaboration in the mining industry. The factory’s launch underscores the government's focus on fostering strategic partnerships to unlock the nation’s mineral potential and propel Ethiopia into a new era of economic success. He congratulated ETNO Mining on this significant investment in Dima Woreda, Gambela Region. "For the past three decades, the town of Dima in Akobo has primarily engaged in small-scale, traditional gold mining, often resulting in considerable wastage,” Abiy said. This new investment marks a transformative step towards ensuring efficient and high-quality gold extraction in a shorter time frame while addressing the challenges posed by illegal mining. The project also signifies a commitment to the sustainable development of Gambela’s abundant resources for the benefit of the region and its people.  

Addis Ababa November 20/2024 (ENA) Ethiopia is the second biggest telecom market in Africa with the entry of Safaricom into the country's market , Human Resource Development, Labor and Technology Affairs Standing Committee Chair of the House of Peoples’ Representatives said. The 13th African Internet Governance Forum (AfIGF) under the theme “Building Our Multi-Stakeholder Digital Future for Africa” kicked off today. In his remarks during a session of African Parliamentary Network on Internet Governance (APNIG), Chair of the Standing Committee, Negeri Lencho said that AfIGF is dedicated to fostering exchanges within the region on relevant digital policy topics. The regional parliamentary track with the title “Parliamentarians’ Contribution to Effective Data Governance on the African Continent” is the right choice to facilitate a timely discussion, he added. With Digital Ethiopia 2025 strategy, Ethiopia has liberalized the telecom sector, Negeri added. “The implementation of the Digital Ethiopia 2025 strategy enabled us to liberalize the telecom sector, and accordingly, one additional internet service provider has come to this big market of 130 plus million people. This enables Ethiopia to be the 2nd biggest market in Africa with more than 80 million mobile voice subscribers and 50 plus million data and internet users,” he elaborated. Ethiopia’s electronic money transaction has exceeded the amount of the traditional transaction and reached more than 3 trillion Birr, Negeri stated, and emphasized “this is very significant for parliamentarians since we are very close to measuring such impacts, and we are also keen to clearly understand the meanings in terms of policy directions.” According to him, the digital divide is one of the critical challenges that hinder the wider accessibility of internet benefits, inclusively to all citizens while device affordability is one of the critical reasons for the digital divide. Information Society Division Senior Policy Officer at AUC, Adil Sulieman said that in view of realizing its integration agenda, Africa is striving to achieve the largest free trade zone in the world, which would require more connectivity, free flow of information, electronic payment and cross border transactions. “Indeed APNIG is instrumental in advancing Africa’s digital transformation journey aimed at socioeconomic growth and inclusivity which is currently counted under several problems, including digital divide, cyber security threat, automation impacts on job, Data safety and privacy, reliance on foreign technology skills gap regulatory barriers,” he added. The digital era brings to the forefront the indispensable role of data in crafting policies for social economic advancement, Sulieman stated, and emphasized the importance of presenting Africa with the prospect of a sustainable and protected future shared by data driven decisions. “The increasingly digital and data driven information society also comes with new risks and challenges. And therefore; the African AfIGF and multi-stakeholder groups with the system of APNIG would have to commend new rules that will generate trust, protect and secure data,” noted the Senior Policy Officer. Moreover, he pointed out that Africa is determined to be a crucial player in championing the digital transmission to propel socioeconomic development and to play a key role in ultimately shaping the world digital future by closing the digital divides and data invention divides.