Ethiopian Airlines Suspends Asmara Flights Following Eritrean Government Directive Announced Today

Ethiopian Airlines Suspends Asmara Flights Following Eritrean Government Directive Announced Today Addis Ababa, September 2, 2024 – In a significant development that has raised concerns across the region, Ethiopian Airlines has suspended all flights to and from Asmara, effective September 3, 2024. The suspension follows mounting operational challenges in Eritrea, compounded by a government directive that has brought the airline’s operations to a halt. The Civil Aviation Authority of Eritrea’s Ministry of Transport and Communications made the suspension official through a notice published on July 24 in the state-run newspaper Hadas Eritrea. The directive, which mandates the suspension of Ethiopian Airlines flights from September 30, 2024, comes with serious allegations against the airline. According to the Eritrean Civil Aviation Authority, the suspension was prompted by what it described as “organized and systematic” abuse of Eritrean passengers by Ethiopian Airlines. The authority accused the airline of several infractions, including the theft of passengers’ luggage, frequent delays in both flights and baggage handling, and a failure to compensate affected passengers. Additionally, the authority criticized the airline for what it called an unreasonable increase in ticket prices, further exacerbating the grievances of Eritrean travelers. “Repeated reminders given to Ethiopian Airlines to resolve the above-mentioned problems did not yield results, and from September 30, 2024, Ethiopian Airlines flights to Eritrea have been suspended,” the Civil Aviation Authority stated in its official release. Ethiopian Airlines, Africa’s largest and most profitable airline, has acknowledged the suspension but attributed its decision to suspend flights ahead of the government’s deadline to ongoing operational difficulties in Eritrea. The airline, which has long faced challenges in maintaining its service to Asmara, emphasized that the decision was made in the best interest of passenger safety and operational viability. In response to the suspension, Ethiopian Airlines has pledged to support affected passengers. The airline is offering rebooking on alternative carriers at no additional cost, or a full refund for those who choose not to travel. Passengers seeking assistance have been advised to contact the nearest Ethiopian Airlines office or reach out to the Ethiopian Global Call Center, with contact details available on the airline’s website at www.ethiopianairlines.com. This is not the first time Ethiopian Airlines has had to suspend its flights to Asmara. In 2020, the airline temporarily halted services due to similar operational and regulatory challenges, only to resume flights after conditions stabilized. However, the current suspension, driven both by operational difficulties and the direct intervention of the Eritrean government, signals a more severe and potentially prolonged disruption. The suspension of flights is expected to have wide-reaching implications, not just for the passengers directly affected but also for the broader relationship between Ethiopia and Eritrea. Ethiopian Airlines has been a crucial player in maintaining the limited connectivity between the two countries, and its absence is likely to disrupt travel, trade, and diplomatic activities. As the situation develops, it remains unclear when or if Ethiopian Airlines will resume its services to Asmara. The airline has expressed its hope that conditions will improve and that it can once again serve its Eritrean passengers. For now, however, the skies between Ethiopia and Eritrea will be quieter, marking a significant setback in regional connectivity. This suspension adds to the growing list of challenges facing Ethiopian Airlines, which has worked to maintain its reputation as a leading carrier in Africa despite the increasingly complex operational environment in Eritrea. 1 COMMENT Ittu Aba Farda September 3, 2024 At 10:30 am This report does not tell the whole story about this cancellation of flight from Addis/Finfinne to Asmara. From what I heard, there have been serious custom violation issues since flights to and from Asmara were resumed after 2018. This report does not tell the whole story about this cancellation of flight from Addis/Finfinne to Asmara. From what I heard, there have been serious custom violation issues since flights to and from Asmara were resumed after 2018. Comments are closed.

Tinsae G. Mekonnen Launches “Dubai Decoded Vol.02” – Your Ultimate Guide to Thriving in Dubai’s Job Market

Tinsae G. Mekonnen Launches “Dubai Decoded Vol.02” – Your Ultimate Guide to Thriving in Dubai’s Job Market Dubai, United Arab Emirates – September 2, 2024 – Tinsae G. Mekonnen, an Ethiopian marketing professional based in Dubai, has just released the highly anticipated “Dubai Decoded Vol.02.” This second edition of her guidebook builds on the success of the first volume, offering an in-depth exploration of Dubai’s dynamic job market, personal branding, and freelancing opportunities. “Dubai Decoded Vol.02” is a must-read for anyone looking to start or advance their career in Dubai. Drawing from her personal experiences, Tinsae provides valuable insights and practical advice on how to stand out in a competitive environment. The guidebook covers essential topics, including job market trends, visa requirements, personal branding strategies, and tips for avoiding common scams. In this edition, Tinsae delves deeper into the nuances of Dubai’s employment landscape, sharing her journey of moving to Dubai and successfully navigating the job market. She also offers new content on freelancing in Dubai, making it a comprehensive resource for both job seekers and entrepreneurs. Tinsae’s approach to personal branding and digital presence is particularly noteworthy. As someone who transformed her career through strategic online self-promotion, she emphasizes the importance of building a strong digital presence in today’s job market. The guidebook provides actionable steps to optimize LinkedIn profiles, create impactful resumes, and prepare for interviews. “I’m thrilled to share ‘Dubai Decoded Vol.02’ with the world. My goal is to make the process of finding a job in Dubai as straightforward as possible, especially for those who, like me, faced challenges when first arriving here,” said Tinsae. “This edition is more detailed and personal, reflecting the experiences and lessons I’ve learned over the past year.” Key Highlights of the Book: The Job Market: The guidebook opens with a thorough overview of Dubai’s employment landscape. Tinsae breaks down the city’s key industries, discusses the sectors with the most opportunities, and offers practical advice on how to stand out in a crowded job market. She includes relevant statistics, such as the number of annual job openings and the employment rate, providing readers with a realistic view of what to expect. Preparing Yourself: Tinsae emphasizes the importance of self-preparation before making the big move to Dubai. This chapter guides readers on how to update their skills, knowledge, and industry tools to stay competitive. It also covers the importance of tailoring resumes for specific roles and how to effectively research companies and industries to target. Visa and Legal Requirements: Navigating Dubai’s legal landscape is crucial for anyone looking to work in the city. In this chapter, Tinsae provides detailed information on various visa types, including the newly introduced Job Seeker’s Visa. She also offers practical advice on securing the appropriate documentation before relocating. Accommodation, Neighborhoods, and Costs: Moving to a new city involves more than just finding a job. Tinsae offers practical advice on finding affordable accommodation, selecting neighborhoods that are convenient for public transportation, and managing living costs in Dubai. She shares her personal experiences and provides resources to help readers make informed decisions about where to live. Personal Branding and Digital Presence: Tinsae’s approach to personal branding and digital presence is particularly noteworthy. As someone who transformed her career through strategic online self-promotion, she emphasizes the importance of building a strong digital presence in today’s job market. The chapter includes actionable steps to optimize LinkedIn profiles, create impactful resumes, and prepare for interviews. Interview Tips and Avoiding Scammers: Preparing for job interviews can be daunting, especially in a foreign city. Tinsae provides a comprehensive interview checklist, including tips on researching companies, preparing responses, and presenting oneself professionally. She also discusses common scams targeting job seekers in Dubai and offers practical advice on avoiding them. Freelancing in Dubai: For those interested in pursuing freelance opportunities, Tinsae dedicates a chapter to exploring the freelance landscape in Dubai. She covers everything from obtaining a freelance permit or visa to setting up a workspace and managing finances. This chapter is a valuable resource for anyone considering the flexibility and opportunities that freelancing offers. Business Setup in Dubai: The final chapter is geared towards entrepreneurs looking to establish a business in Dubai. Tinsae provides a step-by-step guide to setting up a business, including choosing the right business structure, registering a trade name, and obtaining the necessary licenses and approvals. She also covers the legal and tax obligations that come with running a business in Dubai, making this chapter an indispensable guide for aspiring business owners. Tinsae’s Personal Journey What sets “Dubai Decoded Vol.02” apart from other guidebooks is the personal touch Tinsae brings to the content. Throughout the book, she shares her own experiences of moving to Dubai, overcoming challenges, and building a successful career. Her story is both inspiring and relatable, offering readers not just practical advice but also motivation and encouragement to pursue their own dreams in Dubai. “I’m thrilled to share ‘Dubai Decoded Vol.02’ with the world. My goal is to make the process of finding a job in Dubai as straightforward as possible, especially for those who, like me, faced challenges when first arriving here,” said Tinsae. “This edition is more detailed and personal, reflecting the experiences and lessons I’ve learned over the past year.” Availability “Dubai Decoded Vol.02” is now available for digital download, providing readers with easy access to Tinsae’s expertise and insights. Whether you are planning to move to Dubai or looking to advance your career in the city, this guidebook is an invaluable resource. For more information and to download your copy, visit Tinsae’s page. Contact: Tinsae G. MekonnenEmail: [email protected]LinkedIn: Tinsae Mekonnen About Tinsae G. Mekonnen: Tinsae G. Mekonnen is an Ethiopian marketing professional with a deep understanding of digital personal branding and the Dubai job market. She has successfully helped numerous individuals and businesses thrive in Dubai through her guidebooks, webinars, and online presence. “Dubai Decoded Vol.02” is her latest effort to share her expertise and experiences, providing a valuable resource for anyone looking to build a career in Dubai.

National Bank Opens Doors for Foreigners to Hold Dollar Accounts Amid Ethiopia’s Currency Reforms

National Bank Opens Doors for Foreigners to Hold Dollar Accounts Amid Ethiopia’s Currency Reforms The National Bank of Ethiopia has announced that it has completed the process of granting permission to Foreign Exchange Offices, a move that comes in the wake of Ethiopia’s decision to float its currency, the Birr. The National Bank of Ethiopia also announced that it is now accepting more individuals and companies, allowing entities previously involved in foreign exchange informally to be legally licensed. This decision aligns with the country’s recent economic reforms, which include the floating of the Birr, a measure intended to stabilize the currency and attract more foreign investment. Previously, only banks were allowed to participate in the foreign exchange market. However, with the new reforms, other parties who wish to engage in the sector are now permitted to do so, which is expected to increase competition and improve access to foreign currency. The bank’s Deputy Director of Foreign Exchange Monitoring and Reserve Management, Ato Ababahehu Dufera, stated, “We have accepted those who have shown interest in opening foreign exchange accounts,” adding that this measure is part of a broader strategy to manage the implications of the floating currency by widening access to foreign exchange services. In light of the floating of the Birr, foreign citizens living in Ethiopia are now allowed to open accounts and use them exclusively for converting foreign currency into Birr. This is seen as a crucial step in managing foreign currency reserves and ensuring smoother currency operations during the transition period. Ababahehu Dufera also noted that any individual who earns foreign currency in the country can open a foreign currency account with a minimum deposit of 100 dollars. He emphasized that this initiative will not only benefit individuals by providing them with greater flexibility in managing their finances but will also support the national economy by stabilizing foreign currency reserves during the ongoing currency float. This new policy is expected to play a significant role in helping Ethiopia navigate the challenges and opportunities presented by the recent floatation of the Birr, ensuring a more robust and competitive foreign exchange market in the country.

Ethiopian Airlines Given Three-Week Deadline by Somaliland to Restore Its Name on Flight Destinations

Ethiopian Airlines Given Three-Week Deadline by Somaliland to Restore Its Name on Flight Destinations Somaliland Gives Two Airlines a Deadline to List Its Name on Their Flights Authorities in Somaliland have given Ethiopian Airlines and Flydubai a three-week grace period to re-register Somaliland’s name on flights to Hargeisa and Berbera. This directive was issued by the Civil Aviation and Airports Authority in Somaliland. However, the statement did not specify what actions would be taken against the two airlines if they fail to comply. Recently, Ethiopian Airlines and Flydubai followed an order from the Somali government in Mogadishu to remove the name “Somaliland” from their websites and replace it with “Somalia” when referring to cities in Somaliland. The Somali government had threatened to revoke the airlines’ licenses if they did not comply within three days. The airlines’ compliance with the Somali government’s directive angered Somaliland authorities, who viewed this as a violation of their claimed independence. As a result, Somaliland authorities began demanding that the airlines re-register Somaliland’s name on the flights they operate to its cities. Somaliland, with a population of 5.7 million, has its own constitution, passport, army, currency, government, President, and holds regular direct elections. However, its lack of international recognition has been a significant obstacle to accessing the funding and assistance needed for economic development. On June 26, 1960, Somaliland, located in the north, gained independence from Britain. The leaders of the region voluntarily decided to join the south to achieve the dream of “Greater Somalia.” The union between the South and North was announced on July 1 of the same year, immediately after the South gained its independence. However, in 1988, leaders of the Somali National Movement led a military rebellion demanding secession, resulting in violence with the central government. This violence led to the displacement and killing of hundreds and the destruction of cities, deepening the divide between the south and north. Following the collapse of Somalia’s central government in 1991, Somaliland unilaterally declared its independence on May 18 of that year. However, it has yet to receive any international or regional recognition. 1 COMMENT Ittu Aba Farda September 1, 2024 At 2:44 am I have an excellent suggestion. Change Hargeisa Airport to Hargeisa, Somaliland 1960. HGA, Somaliland 1960, that is. Everybody is gonna love it even el-Sisi’s beasts of burden at Villa Mogadishu. Hold up, I’m hearing some noise from the Villa. Heehaw! Heehaw! Heehaw!!! I have an excellent suggestion. Change Hargeisa Airport to Hargeisa, Somaliland 1960. HGA, Somaliland 1960, that is. Everybody is gonna love it even el-Sisi’s beasts of burden at Villa Mogadishu. Hold up, I’m hearing some noise from the Villa. Heehaw! Heehaw! Heehaw!!! Comments are closed.

National Bank of Ethiopia and Mastercard Foundation Launch Comprehensive Financial Education Module for Youth and MSMEs

National Bank of Ethiopia and Mastercard Foundation Launch Comprehensive Financial Education Module for Youth and MSMEs Addis Ababa, May 2024 — The National Bank of Ethiopia (NBE), in collaboration with the Mastercard Foundation and First Consult under the BRIDGES program, has officially launched a groundbreaking financial education module designed to empower Ethiopia’s youth and Micro, Small, and Medium Enterprises (MSMEs). This initiative aims to provide essential financial knowledge and skills that will enhance financial literacy and promote financial inclusion across the country. The “Financial Education Module for Youth, Women, and MSMEs” is a significant milestone in Ethiopia’s ongoing efforts to improve financial literacy. The module, developed with contributions from the Financial Education Working Group, draws on international best practices and local insights to offer accessible and practical information on various financial topics. Key Features of the Module The module covers ten comprehensive and interrelated topics crucial for financial literacy: Introduction to Business and Entrepreneurship – Provides basic skills needed to set up a successful enterprise. Goal Setting – Teaches the importance of setting and achieving financial goals. Budgeting – Offers insights into creating and managing a financial budget. Basics of Bookkeeping – Introduces fundamental accounting principles necessary for small businesses. Savings – Encourages saving habits and provides strategies for effective saving. Investment – Guides on making informed investment decisions. Sources of Finance – Discusses various financing options available to MSMEs. Financial Services – Explains the use and benefits of formal and informal financial services. Digital Financial Services – Covers the importance and use of digital financial technologies. Risk Management and Insurance – Provides knowledge on managing risks and the role of insurance. Target Audience The module is specifically designed for Ethiopia’s youth and MSME operators, focusing on addressing the financial knowledge gap between urban and rural populations. It is written in plain language to ensure broad accessibility and understanding, regardless of the participants’ prior financial knowledge. Training Delivery To ensure effective knowledge transfer, the module will be delivered through interactive learning materials, workshops, and innovative delivery mechanisms tailored to the unique needs of the participants. The training will be conducted in three phases, with participants receiving certificates of attendance upon completion. A Strategic Approach to Financial Inclusion This initiative aligns with the NBE’s Financial Education Strategy (2021-2025), which aims to ensure that 75% of Ethiopian adults are knowledgeable about financial products and services by 2025. The strategy recognizes the critical role of standardized financial education materials in achieving this goal and addressing the low levels of financial literacy in Ethiopia. H.E. Mamo Mihretu, Governor of the National Bank of Ethiopia, expressed his enthusiasm for the module’s potential impact, stating, “This financial education module is a vital step towards fostering a financially inclusive society in Ethiopia. It equips our youth and MSMEs with the tools they need to make informed financial decisions, ultimately contributing to the nation’s economic growth.” Samuel Yalew, Ethiopia Country Director for the Mastercard Foundation, highlighted the collaborative effort behind the module’s development, saying, “This module is the result of a collective effort to bring together diverse perspectives and expertise. It reflects our commitment to supporting inclusive finance and sustainable development in Ethiopia.” As the NBE and its partners roll out this financial education module, they are confident that it will play a crucial role in empowering Ethiopia’s youth and MSMEs. The module is not just a learning tool but a catalyst for change, driving financial inclusion and helping individuals and businesses navigate the financial landscape effectively. For more information, visit nbe.gov.et.

30 Days After Ethiopia’s Currency Float: Development Bank Leads with 110% USD Rate Spike

30 Days After Ethiopia’s Currency Float: Development Bank Leads with 110% USD Rate Spike Ethiopia’s recent decision to float its currency on July 28, 2024, has led to a significant devaluation of the Ethiopian Birr (ETB) against major global currencies such as the Euro (EUR), US Dollar (USD), and British Pound (GBP). This strategic move was intended to stabilize the economy by allowing market forces to determine the exchange rate. However, it has introduced considerable volatility in the currency’s value, posing both opportunities and challenges for the country’s economy. Exchange Rates Across Selected Banks US Dollar (USD) Development Bank of Ethiopia (DBE): Buying: ETB 113.02 Selling: ETB 117.01 Difference: ETB 3.99 (+3.53%) Ahadu Bank (AHD): Buying: ETB 108.00 Selling: ETB 116.64 Difference: ETB 8.64 (+8.00%) Debub Global Bank (DGB): Buying: ETB 107.51 Selling: ETB 117.01 Difference: ETB 9.50 (+8.83%) British Pound (GBP) Development Bank of Ethiopia (DBE): Buying: ETB 147.98 Selling: ETB 153.22 Difference: ETB 5.24 (+3.54%) Ahadu Bank (AHD): Buying: ETB 142.93 Selling: ETB 154.37 Difference: ETB 11.44 (+8.00%) Amhara Bank (AMH): Buying: ETB 139.19 Selling: ETB 154.49 Difference: ETB 15.30 (+11.00%) Euro (EUR) Development Bank of Ethiopia (DBE): Buying: ETB 125.57 Selling: ETB 130.06 Difference: ETB 4.49 (+3.45%) Ahadu Bank (AHD): Buying: ETB 120.53 Selling: ETB 130.18 Difference: ETB 9.64 (+8.00%) Tsedey Bank (TSED): Buying: ETB 118.81 Selling: ETB 130.69 Difference: ETB 11.88 (+10.00%) Highlight: Development Bank of Ethiopia (DBE) The Development Bank of Ethiopia (DBE) has emerged as a key player in the current currency exchange landscape, offering some of the highest rates for major currencies compared to other banks in Ethiopia. This reflects the bank’s strategic approach to capitalizing on the recent floatation of the Ethiopian Birr. For the US Dollar (USD), DBE offers a buying rate of ETB 113.02 and a selling rate of ETB 117.01. This makes it one of the most competitive banks in terms of USD exchange rates, with a difference of ETB 3.99, which is a modest spread indicating DBE’s strategic pricing to attract both buyers and sellers. In the case of the British Pound (GBP), DBE offers the highest buying rate at ETB 147.98 and a selling rate of ETB 153.22. The difference of ETB 5.24 is relatively low, making DBE an attractive option for those looking to exchange GBP. For the Euro (EUR), DBE’s buying rate is ETB 125.57 and selling rate is ETB 130.06, with a difference of ETB 4.49, offering the highest rate among the selected banks. DBE’s competitive rates position it as a strong choice for individuals and businesses looking to exchange currency, particularly in light of the recent devaluation of the Birr. This is indicative of the bank’s strategy to enhance its market share in foreign exchange services. Implications of the Birr Devaluation Before the currency float, the Birr was relatively stable, with the exchange rate hovering around ETB 57 per USD. Following the float on July 28, 2024, the value of the Birr against the USD has more than doubled, now trading at rates around ETB 120 per USD. This represents a devaluation of over 110%, signaling a major shift in the currency’s value. This sharp devaluation impacts the economy in multiple ways: Export Potential: The devaluation makes Ethiopian goods cheaper on the international market, potentially boosting exports. However, the benefits may be offset by the increased cost of imported goods and services, which are now significantly more expensive due to the weaker Birr. Inflation Pressure: As the cost of imports rises, so does the general price level within the country, fueling inflation. This increase in prices particularly affects essential goods like food and fuel, straining the purchasing power of the population. Financial Market Volatility: The large discrepancies in buying and selling rates across banks highlight the instability and uncertainty in the market. Businesses engaged in international trade are facing challenges in pricing, budgeting, and financial planning. They might need to adopt hedging strategies to protect against adverse currency movements. Ethiopia’s decision to float its currency on July 28, 2024, has led to significant devaluation of the Birr, as evidenced by the current exchange rates across major banks. The Development Bank of Ethiopia (DBE) stands out by offering some of the highest exchange rates for USD, GBP, and EUR, making it a competitive choice for currency exchange. The implications for the economy are profound, affecting everything from export competitiveness to inflation and market stability. This period marks a critical juncture in Ethiopia’s economic landscape, with both opportunities and challenges ahead.

Ethiopia Ends 22-Year Tax Exemption on Water, Electricity, and Transport Services

Ethiopia Ends 22-Year Tax Exemption on Water, Electricity, and Transport Services The Ethiopian government has announced a new directive aimed at revising the existing subsidy framework for water and electricity services. For the past 22 years, low-income households in Ethiopia have enjoyed water and electricity services exempt from additional value-added tax (VAT). This exemption was initially intended to alleviate the financial burden on low-income households. However, it has come to light that a significant portion of the population, with the financial means to pay for these utilities, has been the primary beneficiary of this tax-free status. The new directive, to be issued by the Ministry of Finance in the coming days, will redefine the eligibility for tax exemptions on water and electricity services. The revised framework will focus on exempting only the average monthly consumption per household, ensuring that households consuming beyond this threshold will be subject to VAT. This adjustment is intended to create a more equitable distribution of resources and ensure that subsidies truly benefit those in need. In parallel, the government has also revised its approach to transport services. Similar to the water and electricity sectors, transport services have been VAT-exempt for the past 22 years to support low-income households. However, this exemption has only applied to public and freight transport services. The government has decided that it is no longer appropriate to extend this support to other types of transport services. Moving forward, the exemption will continue for public transport services, particularly those utilizing vehicles with a seating capacity of less than eight passengers, excluding three-wheeled vehicles. These vehicles, which are crucial for public transportation in Ethiopia, will remain VAT-exempt to ensure affordable transport options for the broader population. However, private transport services using vehicles with a seating capacity of eight passengers or more will now be subject to VAT. 1 COMMENT Ittu Aba Farda August 30, 2024 At 3:12 am When I come to realize that this fire-spitting patriot H.E. Ahmed bin Shide is in charge of the financial affairs, I’m assured more than ever that the old country is an extremely capable hands. He has brought grace to the ministry. Go get’em tiger!!!! When I come to realize that this fire-spitting patriot H.E. Ahmed bin Shide is in charge of the financial affairs, I’m assured more than ever that the old country is an extremely capable hands. He has brought grace to the ministry. Go get’em tiger!!!! Comments are closed.

Canal Plus Television Set to Exit the Ethiopian Market

Canal Plus Television Set to Exit the Ethiopian Market (Based on information from Meseret Media) – The French satellite television channel Canal Plus is reportedly preparing to exit the Ethiopian market, according to information obtained by Meseret Media. Although the channel, which entered Ethiopia three years ago, has been providing services to a significant number of users, it has been unable to sufficiently penetrate the market to achieve profitability and has therefore reached a decision to withdraw. The sports channel, in particular, has been discontinued several times. “As the sports channel has been discontinued, other channels will be terminated in the coming weeks. This means that the company will cease its operations with its former agent, Biruh Plc,” a source familiar with the matter has revealed. Additionally, it was stated, “The primary and clear reason is their failure to properly break into the market.” Canal Plus began its operations in Ethiopia under an agreement with Eutelsat, broadcasting its content on Eutelsat 7C channels. The Canal Plus & DStv Market Relationship Canal Plus has been navigating a complex relationship with MultiChoice’s DStv, the leading pay-TV service in Africa, and one of its major competitors in the Ethiopian market. Recently, Canal Plus, owned by French media giant Vivendi, has been increasing its stake in MultiChoice. As of early 2024, Canal Plus raised its shareholding to 35.01%, triggering a mandatory offer requirement under South Africa’s takeover regulations. On March 4, Vivendi announced that Canal Plus would publish a firm intention to buy the remaining shares of MultiChoice by no later than April 8. This came after South Africa’s Takeover Regulations Panel ruled that Canal Plus must make an immediate firm intention announcement due to its increased stake. Canal Plus respected this decision and applied for, and received, an exemption from the Panel, extending the timing requirements by 25 business days. Last month, Canal Plus, as the biggest shareholder in MultiChoice, offered to purchase the remaining shares at 105 rand per share. However, MultiChoice rejected the offer, stating that it significantly undervalued the company. MultiChoice has since noted Canal Plus’ intentions and emphasized that its board would continue to act in the best interests of the company and its shareholders. This strategic maneuvering by Canal Plus to increase its influence in MultiChoice highlights the intensifying competition in the African pay-TV market, where DStv has long dominated. Despite these efforts, Canal Plus has struggled to establish a strong foothold in Ethiopia, leading to its impending exit from the market. The withdrawal signifies the challenges new entrants face in competing with well-established players like DStv in the region.

Guul Club: Jigjiga’s First Innovation Hub and the Vision Behind It—An Exclusive Insight from Its Founder

Guul Club: Jigjiga’s First Innovation Hub and the Vision Behind It—An Exclusive Insight from Its Founder In the rapidly evolving landscape of entrepreneurship, particularly in underrepresented regions like Jigjiga, Ethiopia, the need for innovative solutions tailored to local contexts is crucial. Guul Club, founded by Guled Abdi, is one such initiative that stands out for its unique approach to fostering entrepreneurship and creating a sustainable impact in a region known for its infrastructural challenges and limited access to resources. Through Guul Club, Guled has established a coworking and incubation space that is not only addressing these challenges but also empowering the youth to build successful businesses. Guul Club: A Visionary Venture Born from Early Hustles Guul Club was born out of Guled Abdi’s desire to fill the gaps in youth support and entrepreneurship in the Somali region of Ethiopia. Guled’s entrepreneurial spirit was evident from an early age. Growing up in Addis Ababa, Guled engaged in various business ventures, from selling electronic games and chocolates to providing translation services for the Somali community. This early exposure to the world of business instilled in him a hustler’s mentality, driving him to constantly seek out opportunities and learn from each experience. His journey, shaped by his background in social work and business administration, and his experiences running various small businesses, provided him with a unique perspective on the entrepreneurial needs of the region. “What inspired me was that when I interacted with different youth in the region, I saw there was a gap in youth support in their journey in entrepreneurship. This led me to create a center in 2019, where we piloted entrepreneurship training for 10 youth in Jigjiga,” Guled shared. The initial success of this pilot program, despite the onset of the COVID-19 pandemic and the resulting restrictions, highlighted the potential impact of targeted training programs. Even without significant financial backing, the training empowered several participants to start their own businesses, demonstrating the power of skills development over mere financial investment. Overcoming Challenges: A Testament to Resilience Launching Guul Club came with its own set of challenges. In a region where the training industry is often dominated by NGOs offering free services and per diem payments, Guul Club had to carve out a unique identity. “I think what we are trying to do is new, and the obvious way is for an NGO to give training and grants. But we have kept our distance from being associated with free services,” Guled explained. The challenge was not just to offer training but to create a sustainable business model that would ensure the longevity of the center without relying on external funding. To overcome this, Guled utilized a revenue-generating model where the coworking space’s earnings cover all the running costs of the center. This approach has allowed Guul Club to maintain financial independence and ensure that the services provided are both valued and utilized by the community. This self-sufficiency is a rare achievement in the context of similar initiatives, especially in regions with limited economic opportunities. Innovation in Coworking and Incubation One of the most innovative aspects of Guul Club is its dual function as both a coworking space and an incubation program. Jigjiga, a city undergoing significant transformation due to an influx of returnees and investors, has not kept pace with the infrastructural demands of this growth. Guul Club addresses this by offering a much-needed space where entrepreneurs can access essential resources to start and grow their businesses. The center has evolved from operating in a single room in 2021 to occupying a fully furnished villa with eight rooms, including private offices, shared spaces, and outdoor areas for events and conferences. Guled’s vision for Guul Club is not just about providing physical space but about creating an environment where ideas can flourish and collaboration is encouraged. “We are now building a community that wants change, progress, and success. We bring together the players of the ecosystem like entrepreneurs, financial institutions, and business development service providers,” he noted. This holistic approach ensures that the members of Guul Club are not only equipped with the necessary tools but are also connected to a network that can help them thrive. Community Impact and Success Stories Since its inception, Guul Club has made a meaningful impact on the entrepreneurial landscape in Jigjiga. The center’s incubation program has provided young entrepreneurs with the skills and confidence to pursue their ventures. Many success stories have emerged from Guul Club, with participants launching businesses across various sectors, including digital marketing and manufacturing. “We’ve seen growth from a small operation to a fully equipped workspace that now offers mentorship programs, community events, and workshops,” Guled stated with pride. Guul Club’s influence reaches beyond the business community, playing a crucial role in shaping the future of entrepreneurship in the region. By hosting events and workshops that bring together diverse stakeholders, the center is fostering collaboration and knowledge sharing, which are essential for the region’s economic development. For example, a recent event focused on Youth Entrepreneurship and the Startup Ecosystem of the Somali Region gathered key local players, promoting the exchange of ideas necessary for the growth of the regional economy. Upcoming Training Program: Build and Start Your Career As part of its ongoing efforts to empower the youth and foster entrepreneurship, Guul Club is launching a new paid training program, “Build and Start Your Career,” focusing on digital marketing. This program aims to equip individuals with the skills needed to thrive in the digital economy, a sector that is increasingly vital for business success. The training will cover essential aspects of digital marketing, including social media management, content creation, SEO, and online advertising, providing participants with practical knowledge they can immediately apply to their businesses or careers. The program is set to attract aspiring entrepreneurs, small business owners, and professionals looking to enhance their digital marketing capabilities. Mentorship: The Key to Sustainable Growth Mentorship is at the heart of Guul Club’s incubation program. The center carefully selects mentors who are not only successful in their fields but also have a deep understanding of the local business environment. These mentors provide invaluable support, helping startups navigate the complexities of entrepreneurship in a region where challenges such as limited access to finance, underdeveloped infrastructure, and poor connectivity are prevalent. The mentorship program is designed to be hands-on, offering practical solutions and networking opportunities that are crucial for the startups’ growth. “We select mentors that are already in business and are experienced enough to mentor youth. They provide networking and consult entrepreneurs in the major tasks,” Guled explained. This focus on mentorship ensures that the entrepreneurs who go through Guul Club’s programs are not just left to fend for themselves but are supported throughout their journey. Future Vision: Scaling Up and Expanding Impact Looking ahead, Guul Club has ambitious plans for expansion and scaling its impact. Guled envisions the club becoming a key player in providing office solutions and incubation services not just in Jigjiga but potentially in other parts of the region. “In the next 5 years, we see ourselves providing office solutions for different organizations and expanding our incubation services,” Guled remarked. The future of entrepreneurship in Jigjiga is promising, especially with the region’s high adaptability to new technologies and widespread use of digital wallets. However, Guled acknowledges that there are still significant challenges to overcome, particularly in terms of infrastructure and access to finance. “The challenge I see for entrepreneurs and the whole economy is that what keeps it not growing is the access to finance, which is collateral-based. Exposure is very important as it changes the trends of business, and infrastructure like roads, electricity, and connectivity are underdeveloped,” he pointed out. Guul Club is a shining example of how local solutions can address global challenges, particularly in regions that are often overlooked in the broader narrative of entrepreneurship in Africa. By addressing the unique challenges of Jigjiga and providing a sustainable model for youth support and entrepreneurship, Guul Club is not only contributing to the local economy but also setting a precedent for similar initiatives in other underrepresented regions. As Guled aptly puts it, “Visit Jigjiga; there are a lot of opportunities, and we are ready to support you in navigating the region.” This article highlights the power of innovation and community-driven initiatives in transforming challenging environments into hubs of entrepreneurship and growth. Guul Club’s journey serves as an inspiration for entrepreneurs and policymakers alike, showcasing the impact that well-thought-out, locally-driven initiatives can have on a community and beyond. 1 COMMENT Ittu Aba Farda August 29, 2024 At 9:34 am This is excellent news. Hats off to my very dear Somali brothers and sisters! Innovations that promotes and all-out industrialization is the way to go. Industrialization has proven to be the sole solver of societies’ ills since the 18th century. With industrialization come factories and factories will drag women out of their child rearing nest to operate machines fabricating products. That will bring the runaway population explosion to a screeching halt. Industrialization will create a massive middle class at a rate never seen in a given society. When the middle class becomes the dominant section of the society, then you can say goodbye to despots and conniving politicians. In such a industrialized society, citizens don’t need somebody else to answer questions of what, how and why. They can single out a cross eyed bee among the swarm of millions. The runaway population explosion the old country has been facing will be solved only through an all out industrialization. Such hub of innovation is the path that will lead to industrialization. To depend on agriculture will not cut the mustard. Bravo Jigjiges!!!!! This is excellent news. Hats off to my very dear Somali brothers and sisters! Innovations that promotes and all-out industrialization is the way to go. Industrialization has proven to be the sole solver of societies’ ills since the 18th century. With industrialization come factories and factories will drag women out of their child rearing nest to operate machines fabricating products. That will bring the runaway population explosion to a screeching halt. Industrialization will create a massive middle class at a rate never seen in a given society. When the middle class becomes the dominant section of the society, then you can say goodbye to despots and conniving politicians. In such a industrialized society, citizens don’t need somebody else to answer questions of what, how and why. They can single out a cross eyed bee among the swarm of millions. The runaway population explosion the old country has been facing will be solved only through an all out industrialization. Such hub of innovation is the path that will lead to industrialization. To depend on agriculture will not cut the mustard. Bravo Jigjiges!!!!! Comments are closed.