Meet Tayech Berihun: The Ethiopian-German Entrepreneur Empowering Kids Through LayuToys

Meet Tayech Berihun: The Ethiopian-German Entrepreneur Empowering Kids Through LayuToys In a world increasingly interconnected yet grappling with cultural displacement, Tayech Berihun saw an opportunity to empower children through playful learning. Her journey as the founder of LayuToys is not just about creating toys—it’s about preserving language, celebrating diversity, and fostering cultural pride in children. In this spirited interview, Tayech shares the inspiration, challenges, and vision behind LayuToys and its flagship product, AHADU, while offering insight into her entrepreneurial journey. The Inspiration Behind LayuToys Tayech Berihun’s personal story of growing up bilingual and bicultural is at the heart of LayuToys. “Being born in Germany and growing up Ethiopian, I experienced both worlds,” she explains. “This blend of cultures gave me a sense of identity that I want to pass on to children in the diaspora.” LayuToys’ first product, AHADU, is a talking flashcard toy that teaches Amharic and English, reflecting Tayech’s commitment to helping children maintain connections with their heritage while benefiting from multilingualism. What’s in a Name? The name LayuToys carries deep personal significance. “It’s a blend of names that represent the combined influences in my life,” says Tayech. More than just a brand name, LayuToys is a tribute to the journey and people who have supported the brand’s mission. “Layu represents the richness of diversity—every child can find themselves in the toys we create.” Celebrating Bilingualism and Cultural Diversity Cultural identity and bilingualism are the bedrock of LayuToys’ mission. Tayech recalls how growing up bilingual helped her connect with her Ethiopian roots while thriving in a different culture. “Our products are designed to make language learning fun and meaningful,” she says, adding that AHADU helps children “embrace their cultural roots while gaining the cognitive benefits of being multilingual.” This cultural pride is what Tayech hopes to instill in children, helping them navigate their worlds with confidence and pride. Overcoming Challenges and the Birth of AHADU As a first-time entrepreneur, Tayech faced numerous challenges bringing AHADU to life. “There’s so much behind the scenes—finding designers, managing logistics, dealing with legal matters,” she recalls. What helped her navigate these complexities? “Research and moral support were key. I also had a great advisor who guided me through the process.” Tayech’s patience, persistence, and reliance on mentorship paid off, culminating in a product that bridges the gap between play and learning. AHADU: Merging Audio and Visual for Enhanced Learning AHADU’s design goes beyond simple language learning; it’s an interactive experience. “Kids insert flashcards into the toy, and AHADU displays the word visually while saying it out loud in Amharic and English,” Tayech explains. This dual sensory approach enhances word recognition and pronunciation, making language acquisition more engaging and effective. “By seeing and hearing the words, children grasp languages faster,” she adds. It’s a learning tool disguised as a toy—exactly what Tayech envisioned for bilingual children everywhere. Reception and Impact of AHADU Since its launch, AHADU has garnered positive feedback from children, parents, and educators alike. “Many have told me that AHADU fills a significant gap in the market,” Tayech beams. Parents appreciate its educational value, while educators see it as an innovative tool for bilingual learning. For the Ethiopian and immigrant communities, AHADU is more than a toy—it’s a bridge between generations and cultures. Expanding Horizons: Future Languages and Cultures The future of LayuToys is filled with exciting possibilities. “We’re expanding to include more Ethiopian languages, like Afaan Oromo and Tigrinya, and we’re planning to introduce European languages like German,” Tayech reveals. By incorporating more languages and cultures, LayuToys aims to create toys that celebrate diverse identities. “We’re also working on our next groundbreaking toy, designed for older age groups,” she adds, signaling that LayuToys is poised to grow its impact even further. Lessons Learned: Hindsight and Growth Reflecting on her journey, Tayech acknowledges that certain aspects of her entrepreneurial path could have been smoother with better planning. “If I could go back, I’d do more research on logistics and manufacturing from the start,” she says. Seeking guidance earlier would have also helped streamline the process. However, she sees every challenge as a learning opportunity that has shaped LayuToys into what it is today. “The bumps along the way have helped me grow.” Staying Inspired: Community as Motivation Tayech’s drive to innovate in the educational toy space comes from a deep sense of purpose. “I stay motivated by my desire to support the Ethiopian community,” she says. LayuToys is her way of giving back, acknowledging the sacrifices made by Ethiopian and immigrant parents. “Seeing the impact that LayuToys has on families keeps me going.” The Future of LayuToys: A Global Vision When asked about the future, Tayech envisions LayuToys expanding beyond Ethiopia to serve the broader African community. “We want to address language barriers, especially for those who only speak their colonial language,” she explains. By creating educational toys that introduce indigenous languages, LayuToys aims to help children connect with their true identity. “In 5-10 years, I hope LayuToys will have made a meaningful impact worldwide, helping children bridge cultural gaps and celebrate their heritage.” A Vision Rooted in Empowerment Tayech Berihun’s journey with LayuToys is a testament to the power of bilingual learning, cultural pride, and entrepreneurship. Through AHADU and future products, LayuToys aims to make a lasting impact on children worldwide, helping them embrace their roots while navigating a globalized world. For Tayech, it’s not just about toys—it’s about empowering the next generation to be proud of who they are.

Ethiopian Airlines Celebrates 60 Years of Uninterrupted Service to Rome: A Milestone in Aviation Excellence

Ethiopian Airlines Celebrates 60 Years of Uninterrupted Service to Rome: A Milestone in Aviation Excellence Addis Ababa, 20 September 2024 – Ethiopian Airlines Group, Africa’s leading aviation powerhouse, proudly celebrates six decades of uninterrupted service to Rome, Italy. In honor of this remarkable milestone, the airline hosted a vibrant event in the heart of Rome, attended by high-ranking government officials from both Ethiopia and Italy, corporate guests, and key stakeholders, alongside Ethiopian Airlines executives. The celebration highlighted the pivotal role that Rome has played in Ethiopian Airlines’ global network. It also underscored the airline’s commitment to providing world-class service while reinforcing its position as a critical link between Africa and Europe. Speaking at the event, Mr. Mesfin Tasew, Group CEO of Ethiopian Airlines, said, “We are incredibly proud to celebrate 60 years of uninterrupted service to Rome. This milestone is a testament to our dedication to connecting people and fostering economic growth between Africa and Europe. We deeply appreciate the support of our valued customers and partners throughout these six decades.” Ethiopian Airlines made Rome its first Italian destination in 1964 and expanded to Milan in 2011. Today, the airline operates daily flights to both cities, using its modern fleet to ensure passenger comfort and convenience. Beginning December 1, 2024, Ethiopian Airlines will increase its flights to Rome to ten weekly, offering greater flexibility and enhanced connectivity between Africa and Europe. The airline currently serves more than 24 European destinations and continues to grow, with new routes to Port Sudan and Dhaka planned for the near future. About Ethiopian Airlines Group Ethiopian Airlines is one of the fastest-growing airlines globally and the largest carrier in Africa. With 78 years of successful operations, it has become a leader in efficiency and operational excellence on the continent. The airline operates the youngest and most modern fleet in Africa, flying to over 150 domestic and international destinations across five continents. Ethiopian’s fleet includes ultra-modern and environmentally friendly aircraft, such as the Boeing 737s, 777s, 787s, Airbus A350-900s, and De Havilland Q400s. Ethiopian Airlines also follows a multi-hub strategy, with hubs in Lomé, Togo (in partnership with ASKY), Lilongwe, Malawi (with Malawi Airlines), and Lusaka, Zambia (with Zambia Airways). Having met its Vision 2025 strategic goals ahead of schedule, the airline is now implementing Vision 2035, a 15-year plan to become one of the top 20 most competitive aviation groups in the world. Ethiopian Airlines has garnered numerous prestigious awards, including Skytrax’s ‘Best Airline in Africa’ for seven consecutive years. A Star Alliance member since 2011, the airline has tripled in size over the past decade, reflecting its success and global reach. 1 COMMENT ALAMUTU SARIU September 22, 2024 At 11:44 am It is not just about celebrating 60 years. You should work more on your customer service and flight landing effect, because (the very first time and that will be the last time I will ever fly Ethiopian airline) I was stressed and terrified. It is not just about celebrating 60 years. You should work more on your customer service and flight landing effect, because (the very first time and that will be the last time I will ever fly Ethiopian airline) I was stressed and terrified. Comments are closed.

Ministry of Finance Issues New Directive on Social Development Tax Exemptions

Ministry of Finance Issues New Directive on Social Development Tax Exemptions The Ministry of Finance has recently introduced Directive No. 1023/2017, aimed at identifying goods exempt from the social development tax levied on imported items. This directive is designed to support key social sectors and provide relief for communities affected by both natural and man-made crises. Purpose of the Directive The directive outlines exemptions from social development tax on goods that contribute to expanding essential services, such as education and healthcare, which are offered free of charge to the public. Additionally, it aims to assist those impacted by disasters. Goods arriving as part of international aid are granted tax exemptions as they directly support social development efforts. Which Goods Are Exempt? The following categories of goods are exempt from the social development tax: Aid for Social Service Institutions: Goods sent as foreign aid to the following social service institutions are exempt: A. Government-owned or public service institutions providing free services:Educational institutionsHealthcare facilitiesOrganizations supporting children, women, the elderly, people with mental illness, and those with disabilitiesB. Emergency Aid Organizations: Goods sent as part of foreign aid to organizations providing emergency relief to communities affected by natural or man-made disasters Educational institutionsHealthcare facilitiesOrganizations supporting children, women, the elderly, people with mental illness, and those with disabilities Goods sent as part of foreign aid to organizations providing emergency relief to communities affected by natural or man-made disasters Goods Exempt Under International Agreements: Items allowed entry without duties or taxes under international agreements signed by Ethiopia. Defense and Security Imports: Defense and public security equipment, parts, and accessories imported by: Ministry of National Defense Federal and State Police Institutions National Intelligence and Security Service Information Network Security Administration Ministry of National Defense Federal and State Police Institutions National Intelligence and Security Service Information Network Security Administration Currency and Precious Metals: Coins, currency notes, silver, and gold items imported by the National Bank of Ethiopia. Goods That Are Not Exempt Certain items cannot be imported without paying the social development tax. These include: A. Automobiles with fewer than eight seats, including their accessoriesB. Single or double-cab pickup vehicles and their accessoriesC. Office supplies and equipment Mandatory Documentation for Tax-Free Imports To qualify for social development tax exemptions, importers must provide the following documents: Aid Certification: Proof that the goods were acquired through foreign aid. Invoice: A detailed invoice listing the goods and their prices. Government Support Letter: A letter from the relevant government office confirming that the goods will be used for the specified purpose, with a commitment to report their use to the Ministry of Finance and the Customs Commission.

Ethiopian Airlines Boosts Connectivity: 10 Weekly Flights to Guangzhou

Ethiopian Airlines Boosts Connectivity: 10 Weekly Flights to Guangzhou Ethiopian Airlines, Africa’s largest and fastest-growing airline, has announced a significant expansion of its flight services to China. As of September 26, 2024, the airline has increased its weekly passenger flights to Guangzhou, one of China’s major commercial hubs, from seven to 10 flights. This strategic move reflects the airline’s continued efforts to meet the rising demand for travel between Africa and China. With China being one of Ethiopia’s largest trading partners, this increase in flights will not only boost business and tourism but also facilitate the movement of goods and services between the two nations. Prior to this expansion, Ethiopian Airlines operated seven weekly flights to Guangzhou. By adding three more flights, the airline aims to offer more flexibility and convenience to travelers, whether they are flying for business, leisure, or connecting through Ethiopia to other parts of Africa. Strengthening Global Connectivity The increase in flights to Guangzhou is part of Ethiopian Airlines’ broader plan to strengthen its global network. With its hub in Addis Ababa, the airline connects Africa to over 120 international destinations across five continents. The additional flights to Guangzhou will play a key role in boosting trade and investment between China and various African countries, as Ethiopia serves as a vital gateway for many businesses and travelers. As part of its ongoing expansion strategy, Ethiopian Airlines continues to focus on improving passenger experience and operational efficiency. The airline is known for its modern fleet, which includes the latest Boeing and Airbus aircraft, ensuring comfort and safety for all passengers. Facilitating Trade and Tourism Ethiopian Airlines’ enhanced presence in Guangzhou is expected to benefit multiple sectors, including trade, tourism, and education. China has become a popular destination for African students pursuing higher education, and the expanded flight schedule offers more options for students traveling to and from Chinese universities. Additionally, the increase in flights will attract more Chinese tourists to Ethiopia and other African countries, promoting cross-cultural exchanges and further strengthening bilateral relations. The move also supports Ethiopia’s goal of becoming a key player in global logistics. With the rise of e-commerce and manufacturing activities in China, Ethiopian Airlines is well-positioned to capitalize on the increased demand for air cargo services. The airline’s cargo division is expected to play a crucial role in transporting goods between China and Africa, contributing to the growth of both economies. A Step Toward Future Growth Ethiopian Airlines’ decision to increase flights to Guangzhou underscores its commitment to remaining a leader in Africa’s aviation sector. As more African countries look to strengthen ties with China, Ethiopian Airlines is poised to play a pivotal role in bridging the gap between the two regions. This latest expansion is just one of many steps the airline is taking to secure its position as a top player in international aviation. With ongoing investments in fleet expansion, service improvements, and customer satisfaction, Ethiopian Airlines continues to raise the bar for air travel in Africa and beyond. 1 COMMENT Kebede Gebeyehu September 21, 2024 At 4:15 am Ethiopian Airlines reflects the will of Ethiopian Peoples. People wish to grow and to pursue development. That will be realised if the country and the African continent is connected to others globally. I appreciate and support the efforts the Airlines do to connect us with the world nations like China. Ethiopian Airlines reflects the will of Ethiopian Peoples. People wish to grow and to pursue development. That will be realised if the country and the African continent is connected to others globally. I appreciate and support the efforts the Airlines do to connect us with the world nations like China. Comments are closed.

EthioTelecom Aims to Expand Telebirr Service to 55 Million Subscribers by 2025

EthioTelecom Aims to Expand Telebirr Service to 55 Million Subscribers by 2025 EthioTelecom, a cornerstone of Ethiopia’s telecommunications industry for over 130 years, has unveiled ambitious plans for the 2024/25 fiscal year, entering the third year of its LEAD growth strategy. While the company has played a pivotal role in the nation’s socio-economic development, its current focus shifts to accelerating Ethiopia’s digital transformation, with Telebirr mobile money services at the heart of its strategy. Telebirr Expansion for Financial Inclusion As a key component of its plan, EthioTelecom will further expand Telebirr, its mobile money platform, to enhance digital financial inclusion across the country. The company aims to increase Telebirr’s user base by 15.7%, reaching 55 million customers by the end of the fiscal year. Additionally, it plans to expand its network of Telebirr agents by 28% to 275,000 and increase merchants accepting Telebirr transactions by 102%, reaching 367,000. Telebirr’s expansion supports key financial services, including local and international money transfers, e-commerce payments, and remittances, all while playing a significant role in narrowing the digital divide, particularly in underserved rural areas. Supporting Ethiopia’s Digital Transformation EthioTelecom’s broader strategy for 2024/25 emphasizes investments in both telecommunications and digital infrastructure. Plans include the construction of 1,298 new mobile sites and the introduction of 5G services in 15 additional cities, alongside expanding 4G services to 500 more cities across Ethiopia. Beyond telecommunications, EthioTelecom will also enhance digital services by expanding cloud computing, upgrading data centers, and providing innovative digital solutions for sectors such as agriculture, health, and education. These initiatives will drive Ethiopia’s development into a digital-first economy, positioning businesses and institutions to contribute more efficiently to national growth. Revenue Growth and Foreign Currency Generation EthioTelecom is targeting a revenue increase of 74.7%, from 93 billion Birr to 163.7 billion Birr for the fiscal year. In addition to boosting domestic revenues, the company plans to generate $282.85 million in foreign currency by expanding international partnerships and remittance services. Commitment to Social Responsibility and Workforce Development EthioTelecom remains committed to corporate social responsibility (CSR), with plans to contribute to healthcare, education, environmental protection, and other humanitarian causes. The company will also invest in workforce development, offering digital skills training in areas like cybersecurity and data analysis, ensuring its employees are well-equipped to support the country’s digital transformation. A Future Powered by Digital Solutions As EthioTelecom continues its efforts to expand Telebirr and enhance Ethiopia’s digital economy, the company calls on stakeholders—including customers, business partners, and government entities—to support its vision for a more connected and digitally empowered Ethiopia. Through these initiatives, EthioTelecom is positioning itself as a leader in the nation’s ongoing digital revolution.

Ethiopian Airlines to Make History with Africa’s First Airbus A350-1000 Arrival in October

Ethiopian Airlines to Make History with Africa’s First Airbus A350-1000 Arrival in October Ethiopian Airlines is poised to make history with the delivery of the Airbus A350-1000, scheduled for October. This landmark event will see Ethiopian Airlines become the first African carrier to operate this state-of-the-art aircraft, underscoring its leadership role in the continent’s aviation sector. The Airbus A350-1000 is a cutting-edge addition to the A350 family, designed to offer superior performance and efficiency. With a passenger capacity ranging from 350 to 410, depending on the configuration, the A350-1000 is ideal for accommodating both economy and premium passengers on long-haul routes. This increased capacity allows Ethiopian Airlines to better serve its expanding network of international destinations and respond to growing passenger demand. One of the standout features of the A350-1000 is its impressive range of approximately 8,000 nautical miles (15,000 kilometers). This extended range allows for non-stop flights between major global hubs, reducing the need for intermediate stops and offering a more streamlined travel experience. The aircraft’s advanced aerodynamics, including a larger wingspan and new wing designs, enhance fuel efficiency and contribute to a lower environmental footprint compared to older aircraft models. The A350-1000 is powered by the Rolls-Royce Trent XWB engines, which are known for their quiet operation and fuel efficiency. These engines represent a significant advancement in aviation technology, providing not only improved performance but also a reduction in noise pollution—a crucial factor for airports and surrounding communities. Passenger comfort is a key focus of the A350-1000’s design. The aircraft features a spacious cabin with larger windows, which allow more natural light and offer panoramic views. The seating arrangements are designed to provide more space and comfort, while the improved air quality and advanced lighting systems contribute to a more pleasant flying experience. These features are especially beneficial for long-haul flights, where passenger comfort is paramount. The delivery of the A350-1000 is a critical component of Ethiopian Airlines’ fleet modernization strategy. In 2022, the airline placed a significant order for 22 A350 aircraft, which includes both the A350-900 and A350-1000 variants. By July 2022, Ethiopian Airlines had already received 16 of these aircraft, with the A350-1000 being the final addition to this order. This strategic investment reflects the airline’s commitment to enhancing its operational capabilities and expanding its global reach. The arrival of the A350-1000 marks a significant milestone not only for Ethiopian Airlines but also for the African aviation industry as a whole. As the first African airline to operate this advanced aircraft, Ethiopian Airlines sets a precedent for others in the region, highlighting its role as a pioneer in adopting cutting-edge aviation technology. This development is expected to strengthen the airline’s competitive position in the global market and enhance its ability to serve international travelers with greater efficiency and comfort. The introduction of the Airbus A350-1000 to Ethiopian Airlines’ fleet is a transformative event for the airline and the African aviation sector. It underscores Ethiopian Airlines’ commitment to innovation and excellence, positioning it as a leader in the industry and setting a new standard for air travel across the continent.

Ethiopian Birr Loses Ground: Hits 132 in Black Market After Currency Liberalization

Ethiopian Birr Loses Ground: Hits 132 in Black Market After Currency Liberalization The Ethiopian birr recorded another fall against the U.S. dollar in the black market today, continuing a troubling trend that began last month following the Ethiopian government’s announcement of macroeconomic reforms and the liberalization of the foreign exchange market. The birr has dropped to 132 birr per dollar in the parallel market. The government had anticipated that these reforms would narrow the gap between the birr’s values in the official and black markets. However, the reality has been quite different. Before the reforms, the official exchange rate was around 57 birr to the dollar, while the black market rate was approximately 120 birr. Since the introduction of these reforms, the birr has lost more than 100% of its value against the dollar. As of today, the Commercial Bank of Ethiopia (CBE) has set the selling price of the U.S. dollar at 124 birr, while the Development Bank of Ethiopia leads with slightly higher rates. The reaction from the public has been swift, with social media amplifying the frustrations. One Twitter user, Lidya Bekelle, expressed her dismay:“We were at this bank today to request $ with my mom and guess what, the selling rate is 134.50 birr ?. & the IBD manager told us that we will get from ⚫️ within the range of 120-124 birr. Is it legal to sell more than the updated selling rate? @NBEthiopia @globalbanketh Genuine question.” This has raised concerns about discrepancies between different banks’ rates and the legal implications of charging above the official exchange rate. Similarly, Sara Yirga tweeted about an additional hurdle:“I was told that I need to block ETB 200-500k for three months in a separate/new travel account before the bank entertains my $ request. Is that acceptable @NBEthiopia?” These tweets reflect the confusion and frustration many Ethiopians are facing as they navigate the new market-based foreign exchange system. The disparity between official and black market rates and the restrictive measures imposed by banks highlight the challenges in accessing foreign currency through official channels. Background: A New Currency Regime On August 9, 2024, Addis Insight reported on the National Bank of Ethiopia’s (NBE) move from a fixed to a market-based exchange rate system. This policy change was intended to better align the birr with its market value, correcting historical distortions, fostering economic stability, and encouraging private sector growth. Despite these goals, the reform has unveiled significant challenges, especially in bridging the gap between official and black market rates. Market Discrepancies The gap between official and black market rates has persisted, with many Ethiopians continuing to rely on the parallel market for access to foreign currency. According to Deutsche Welle, in Addis Ababa, one dollar exchanges for 120 to 140 birr on the black market, while official rates hover around 124 birr. This gap has created confusion and raised questions about the effectiveness of the NBE’s reforms in stabilizing the currency market. Previously, Ethiopian businesses faced significant hurdles due to currency restrictions. As noted by Tadese Melaku from Horra Trading, companies retained only 40% of their foreign currency earnings, which led to shortages and high service fees. This situation drove many businesses to the parallel market, where they could access foreign currency more easily, albeit at higher rates. The Black Market’s Response The black market’s persistence highlights the challenges in addressing the foreign exchange supply gap. Finance consultant Tilahun Girma has emphasized that the overvaluation of the birr under the previous fixed exchange rate system led to reduced formal export channels and increased contraband activities. These issues have only been exacerbated by the current shortage of foreign currency available through official channels. Experts like Andualem Goshu argue that while floating the exchange rate could eventually reduce reliance on the black market, success will require more than policy changes. Ensuring a steady supply of foreign currency is critical to reducing the black market’s influence. Measures such as banning non-essential imports and securing temporary support through loans from the IMF and World Bank may help alleviate immediate pressures but will not fully solve the underlying supply issues. Public Reaction and Concerns The frustrations voiced on social media reflect a broader dissatisfaction with the way the currency reforms are being implemented. Lidya Bekelle’s experience at a bank selling dollars at 134.50 birr, higher than the official rate, raises concerns about regulatory oversight and consistency across financial institutions. Similarly, Sara Yirga’s report of needing to block large amounts of Ethiopian birr for months just to access foreign currency is seen as an unreasonable barrier to those needing dollars for travel or other essential purposes. These reactions underscore the confusion and difficulties many individuals are facing as they attempt to navigate the new currency landscape. Future Outlook The National Bank of Ethiopia has introduced several reforms aimed at enhancing market flexibility and liquidity, including the removal of surrender requirements and the introduction of non-bank foreign exchange bureaus. These measures are designed to improve accessibility and increase the flow of foreign currency through official channels. However, experts like Tilahun Girma believe that more targeted interventions, such as foreign exchange auctions, may be necessary to stabilize the exchange rate and prevent speculative behavior. Over time, these interventions could help narrow the gap between official and black market rates and reduce the public’s reliance on informal channels for foreign currency transactions. The Ethiopian birr’s dramatic fall against the U.S. dollar highlights the challenges in transitioning to a market-based exchange rate system. While the reform was intended to close the gap between official and black market rates, the birr has instead lost over 100% of its value, exacerbating the public’s frustration and confusion. Social media reactions, such as those from Lidya Bekelle and Sara Yirga, illustrate the real-world impact of these currency fluctuations and the difficulties many Ethiopians face in accessing foreign currency through official channels. As Ethiopia continues to navigate this complex economic transition, the success of the currency reforms will depend on the government’s ability to address supply shortages, enforce consistent policies across financial institutions, and provide greater clarity to the public. Only then can the country hope to achieve the stability and growth envisioned by these reforms.

From Binance’s Legal Drama to Ethiopia’s Crypto Surge: Exploring Africa’s New Blockchain Hub

From Binance’s Legal Drama to Ethiopia’s Crypto Surge: Exploring Africa’s New Blockchain Hub By– Edomiya Girmay The rise of Web 3.0 marks a major shift in the digital landscape. Built on the foundation of decentralization, Web 3.0 aims to give users more control over their data by eliminating intermediaries, which is made possible by blockchain technology. Blockchain, created to ensure transparent, secure, and decentralized record-keeping, has been essential in powering digital currencies like Bitcoin and has transformed industries by offering security and autonomy over digital assets. Initially, countries like the United States, China, and Japan led the way in adopting blockchain, especially within the financial sector. However, its influence soon spread to industries such as healthcare, supply chain management, and beyond. Now, Africa, with Ethiopia at the forefront, is becoming a focus for blockchain technology due to its untapped potential and favorable conditions for growth Why Africa? And the Funny Moments That Unfolded Africa’s growing youth population, improving internet access, and increasing mobile adoption make it fertile ground for blockchain technologies. But Africa’s crypto journey hasn’t always been smooth, and there have been some memorable hiccups. Take 2024, for instance, when Binance, the global cryptocurrency exchange, faced a major showdown with the Nigerian government. The trouble began when Nadeem Anjarwalla, Binance’s regional manager for Africa, and Tigran Gambaryan, head of financial crime compliance, were detained upon arrival in Nigeria. The charges? Allegations of tax evasion and enabling illegal financial activities such as money laundering and terrorist financing through Binance’s platform. The Nigerian government claimed that over $26 billion had been traded through Binance Nigeria, some of it from suspicious sources tied to criminal activities. This led to a staggering $10 billion fine imposed on Binance. In a twist of events that could have come from a spy thriller, Anjarwalla managed to escape from a guesthouse in Abuja, where he was being held under relaxed conditions. Armed only with his Kenyan passport—his British passport was in custody—he fled, leaving the Nigerian authorities scrambling. In the end, Binance cooperated with the Nigerian government, but the incident highlighted a bigger issue: the inability of traditional governments to control money flow through decentralized platforms like Binance. Essentially, they couldn’t dip into the funds, and that frustration spilled over into regulatory drama. Ethiopia’s Blockchain Evolution: Government Ambitions vs. Public Caution Unlike the chaotic events in Nigeria, Ethiopia has quietly embraced blockchain technology, particularly with its government’s support. In 2022, Ethiopia surprised the global community by legalizing Bitcoin mining, leveraging its vast hydroelectric power resources from the Grand Ethiopian Renaissance Dam (GERD). This was part of a strategy to diversify the economy and attract foreign investments. Ethiopia’s energy surplus makes it an ideal destination for Bitcoin mining, which demands significant power. The government’s collaboration with West Data Group on a $250 million data mining project, combining Bitcoin mining and artificial intelligence (AI), reflects Ethiopia’s ambition to be a regional leader in digital technology. Experts predict that Bitcoin mining could contribute between $2 billion and $4 billion to Ethiopia’s GDP in the coming years, providing much-needed foreign currency reserves. However, despite the government’s enthusiasm, the Ethiopian public remains cautious. Cryptocurrencies are often seen as volatile and unpredictable, with many Ethiopians fearing scams and unstable returns. This skepticism could hinder widespread adoption of digital currencies, although global attention on Ethiopia’s mining potential may eventually change this perception. Foreign Miners and Ethiopia’s Rising Crypto Influence: A Global Magnet for Mining Operations Ethiopia’s blockchain journey has not only attracted Chinese Bitcoin miners but has also garnered interest from a variety of international players. The country’s cheap and abundant hydroelectric power, coupled with supportive government policies, has positioned it as an appealing destination for cryptocurrency mining operations worldwide. While Chinese miners were among the first to recognize the potential of Ethiopia’s energy surplus, companies from other countries, including Russia, the United Arab Emirates (UAE), and parts of Europe, are also setting up operations. These firms are drawn by Ethiopia’s relatively lowcost energy from the Grand Ethiopian Renaissance Dam (GERD), making it a “heaven” for those seeking to profit from large-scale crypto mining Russian mining companies, facing energy constraints and regulatory uncertainties in their home country, are especially keen to tap into Ethiopia’s abundant resources. The UAE has also shown interest, leveraging its close economic ties with Ethiopia to explore opportunities in the digital currency space. European players, particularly from countries like Germany and Switzerland, are looking at Ethiopia as a sustainable alternative for mining, where renewable energy can reduce the environmental impact of their operations. This influx of foreign miners highlights Ethiopia’s growing role in the global blockchain and cryptocurrency ecosystem. The combination of low-cost power, a favorable regulatory environment, and ambitious government projects is turning Ethiopia into a global hub for crypto mining, similar to how Iceland and Canada have become popular due to their renewable energy sources. Cardano’s Blockchain Promises: Progress or Stagnation? Back in 2021, Cardano, a leading blockchain platform, made waves by promising to revolutionize Ethiopia’s education system. The initiative aimed to create a decentralized digital ID system for 5 million students and teachers, allowing the Ethiopian government to track academic records and performance securely. This bold promise positioned Ethiopia as a blockchain pioneer on the world stage. However, years later, many are left wondering what happened to Cardano’s promise. While the initial announcement generated optimism, there has been little follow-up, leaving Ethiopians questioning the project’s progress. The lack of updates has led to speculation that infrastructure challenges may have stalled the project, raising doubts about the feasibility of large-scale blockchain solutions in Ethiopia’s education and public sectors. Cardano’s promise was not limited to education. It also vowed to transform agriculture, using blockchain to enhance traceability and transparency across supply chains. These initiatives were hailed as examples of blockchain’s potential to solve real world issues, but the absence of tangible results has led to growing skepticism. Opportunities for Ethiopia in Blockchain and Web 3.0 Despite these challenges, Ethiopia’s potential in the blockchain space remains vast. Global blockchain platforms like Cardano, Ethereum, and others are actively eyeing the African market, offering funding, technical mentorship, and support to local startups. Cardano, for example, has committed to supporting blockchain development across the continent through partnerships and grants. Ethereum is also playing a crucial role, offering tools for developers to build decentralized applications (dApps) and smart contracts. These efforts provide Ethiopian entrepreneurs with the resources to innovate and create blockchain-based solutions that could drive significant economic growth. In addition to Cardano and Ethereum, other blockchain platforms such as Polkadot and Solana are exploring opportunities in Africa, bringing scalable and interoperable solutions that could benefit startups. With access to global resources, mentorship, and funding, Ethiopia’s blockchain ecosystem could flourish, enabling startups to develop Web 3.0 applications and boost the country’s standing in the digital world. The Future: Ethiopia’s Role in Africa’s Blockchain Revolution As Ethiopia continues its blockchain journey, the road ahead is filled with both challenges and opportunities. The government remains committed to fostering a blockchain-friendly environment, welcoming foreign investment and technology partnerships. The influx of Bitcoin mining operations, supported by the country’s energy surplus, could be the key to unlocking significant economic potential. However, the Ethiopian public’s cautious approach to cryptocurrency must be addressed through education and awareness campaigns. Additionally, clear updates on initiatives like Cardano’s education project are essential to maintain credibility and ensure that blockchain’s benefits reach the broader population. In the coming years, Ethiopia has the chance to position itself as a leader in Africa’s blockchain revolution. With the right strategies in place, including collaboration with global platforms and continued investment in infrastructure, Ethiopia could emerge as a significant hub for digital transformation. 1 COMMENT Abebe Getachew September 22, 2024 At 10:34 am I understand your enthusiasm for cryptocurrency, but I have a different perspective. It’s curious that several countries initially adopting cryptocurrency are now backing away. I don’t believe this is solely due to regulatory challenges but also stems from concerns about the nature of cryptocurrency itself. While I see the potential for attracting foreign investment, I’m worried that Ethiopia could become a hub for illicit activities like money laundering. I understand your enthusiasm for cryptocurrency, but I have a different perspective. It’s curious that several countries initially adopting cryptocurrency are now backing away. I don’t believe this is solely due to regulatory challenges but also stems from concerns about the nature of cryptocurrency itself. While I see the potential for attracting foreign investment, I’m worried that Ethiopia could become a hub for illicit activities like money laundering. Comments are closed.

Djibouti Confirms: Tajura Port to be Jointly Managed, Not Handed Over to Ethiopia

Djibouti Confirms: Tajura Port to be Jointly Managed, Not Handed Over to Ethiopia Djibouti has stated that it will not hand over Tajura Port to Ethiopia but will instead jointly manage it. An agreement has been reached to develop a port where Ethiopia can import fuel. The Minister of Foreign Affairs of Ethiopia has stated that the government of Djibouti did not propose to hand over or sell Tajura Port. Instead, they suggested jointly managing and using it. Djiboutian Foreign Minister Mohamed Ali Youssef told the BBC that the Djibouti government proposed that Ethiopia use Tajura Port under Djibouti’s full management to ease tensions between Ethiopia and Somalia. Further explaining, the foreign minister said, “We are not handing over Tajura Port to Ethiopia; we are jointly managing it.” He added, “Tajura and other ports in Djibouti are national assets. Therefore, there is no reason for us to hand over any of them to another party.” However, he mentioned that a national business strategy has been formulated to ensure these resources and assets are utilized to their full potential to benefit Djibouti. “Currently, we are not getting the benefits we deserve from Tajura Port. It handles only one ship every two months. The government of Djibouti spent 60 million dollars to build this port and 110 million dollars to build the road from Tajura Port to Baloh state. The salaries of Tajura Port workers are paid from the revenue generated by Dollare Port. Is this correct? No,” he said. As a result, President Ismail Omar Guelleh has directed that Tajura Port should generate income and become profitable by providing the necessary services. Therefore, the proposal to the Ethiopian government is for Tajura Port to be managed and used jointly, not to be taken over or sold to Ethiopia. He explained that if Ethiopia accepts this recommendation, Djibouti will benefit, similar to how Ethiopia and Djibouti have jointly built and are using the Ethio-Djibouti railway infrastructure. “If Djibouti does not increase the port services provided to Ethiopia by expanding port options, we risk losing benefits from Ethiopia. Tomorrow, Asab Port might open, and Ethiopia could turn to Somaliland. Therefore, we must strive to meet Ethiopia’s port service needs,” said Minister Mohamed Ali Youssef. The minister pointed out that the products available in the Ethiopian market include transportation and logistics costs, which are expensive. From this perspective, Tajura Port is better than Djibouti Port (Dollare Port), which currently provides extensive services, and is closer and more viable for three Ethiopian regions (Tigray, Amhara, and Afar). He explained that if Tajura Port cannot generate income by providing complete port services to Ethiopia, the debt incurred to build the port will be passed on to future generations. In addition to Tajura Port, the minister mentioned that a medium-term plan has been made to develop Demerjug Port so Ethiopia can import oil products through this port and transport them directly by train. Although we asked the maritime service official about the response to Djibouti’s proposal for Ethiopia to jointly manage and use Tajura Port, he indicated that the matter is handled at the government level or by the Ministry of Foreign Affairs. The Ministry of Foreign Affairs stated that information will be provided once a decision is made. 2 COMMENTS Ittu Aba Farda September 16, 2024 At 5:40 am The leaders of Ethiopia should seriously consider this generous offer. I hope and am sure there is a dialogue with exceedingly smart leaders of Djibouti. I hope something rewarding for both peoples will be forged out of this timely offer. If Ethiopia decides to go with it, its leaders better decide on that one soon because some other power may come up with far more attractive and lucrative offer and it will be gone for ever. The MoU with Somaliland ain’t gonna materialize. At least not in the near future. The leaders of Ethiopia should seriously consider this generous offer. I hope and am sure there is a dialogue with exceedingly smart leaders of Djibouti. I hope something rewarding for both peoples will be forged out of this timely offer. If Ethiopia decides to go with it, its leaders better decide on that one soon because some other power may come up with far more attractive and lucrative offer and it will be gone for ever. The MoU with Somaliland ain’t gonna materialize. At least not in the near future. Ittu Aba Farda September 17, 2024 At 3:44 am It is now made official by the leaders of Somalia currently camping out at Villa Mogadishu that they start giving military and financial assistance to the rebel groups currently wreaking havoc inside Ethiopia. I am inclined to believe that OLA has his reps in Villa Mogadishu already and a faction of Fano may be at a connection flight airport to Mogadishu. ONLF is no question that it has beaten OLA and Fano to it thru its standing rep the only foreign policy expert on the Horn of Africa, Af-Mishaar. No wonder why bigots and connivers in Minnesota, Toronto, Tennessee, Michigan, Oslo, DC and Down Under are in an upbeat mood lately. They might have begun packing already to move to their newly minted republic soon to be liberated by the mighty armies of el-Sisi and Villa Mogadishu. Oh, poor boy me, am jealous!!! But putting my sketch, my setup for the punch line aside, this announcement by Somalia’s leaders reminds me what one of my Issa friends told me when I had the chance to see him again in the early 1980’s after he was resettled in a small town in the Midwest here in the USA. He was the brother of my early childhood. He was forced to flee the old country from Mengistu’s killing spree and seek refuge in Somalia’s capital Mogadishu. He told me he had cross paths with fighters from the TPLF during the years 1976-78 who were there taking training in the use of heavy artillery guns. Mind you that was the time when the Somali army along with its beast of burden, ONLF, were rampaging in eastern parts of the old country massacring innocent unarmed students, peasants and small town residents who were not Somalis. One of those savagely murdered was one of my childhood friends, Abebe Gurmu, who was a civil servant in Western Hararghe. He was an Oromo who professed Christianity. My Issa friend was still inside Ethiopia when that took place. The reason they murdered him was that he complained about how he and others like him who sought refuge were being treated by the ONLF. Then one early morning they took him out and about thirty other non Somali refugees and used them as target practice by their newly recruited militia. That was the last straw for our Issa brothers and sisters to order the ONLF and the Somali regular army to leave their territory. That was what started the tide turning on Siad Barre’s hooligans. But at the same time in Somalia, the late prime minister and his comrades were training on how to use heavy and long range guns on their own countrymen. My friend told me how disgusted he was seeing them scavenging at the dumpsites in Somalia. So I won’t be surprised if OLA and certain factions of Fano are in Mogadishu already scavenging just as their predecessors. I am just getting nauseated thinking by such repugnant behavior. It is now made official by the leaders of Somalia currently camping out at Villa Mogadishu that they start giving military and financial assistance to the rebel groups currently wreaking havoc inside Ethiopia. I am inclined to believe that OLA has his reps in Villa Mogadishu already and a faction of Fano may be at a connection flight airport to Mogadishu. ONLF is no question that it has beaten OLA and Fano to it thru its standing rep the only foreign policy expert on the Horn of Africa, Af-Mishaar. No wonder why bigots and connivers in Minnesota, Toronto, Tennessee, Michigan, Oslo, DC and Down Under are in an upbeat mood lately. They might have begun packing already to move to their newly minted republic soon to be liberated by the mighty armies of el-Sisi and Villa Mogadishu. Oh, poor boy me, am jealous!!! But putting my sketch, my setup for the punch line aside, this announcement by Somalia’s leaders reminds me what one of my Issa friends told me when I had the chance to see him again in the early 1980’s after he was resettled in a small town in the Midwest here in the USA. He was the brother of my early childhood. He was forced to flee the old country from Mengistu’s killing spree and seek refuge in Somalia’s capital Mogadishu. He told me he had cross paths with fighters from the TPLF during the years 1976-78 who were there taking training in the use of heavy artillery guns. Mind you that was the time when the Somali army along with its beast of burden, ONLF, were rampaging in eastern parts of the old country massacring innocent unarmed students, peasants and small town residents who were not Somalis. One of those savagely murdered was one of my childhood friends, Abebe Gurmu, who was a civil servant in Western Hararghe. He was an Oromo who professed Christianity. My Issa friend was still inside Ethiopia when that took place. The reason they murdered him was that he complained about how he and others like him who sought refuge were being treated by the ONLF. Then one early morning they took him out and about thirty other non Somali refugees and used them as target practice by their newly recruited militia. That was the last straw for our Issa brothers and sisters to order the ONLF and the Somali regular army to leave their territory. That was what started the tide turning on Siad Barre’s hooligans. But at the same time in Somalia, the late prime minister and his comrades were training on how to use heavy and long range guns on their own countrymen. My friend told me how disgusted he was seeing them scavenging at the dumpsites in Somalia. So I won’t be surprised if OLA and certain factions of Fano are in Mogadishu already scavenging just as their predecessors. I am just getting nauseated thinking by such repugnant behavior. Comments are closed.