EIH on boards 27 public commercial assets including ethiotelecom & Ethiopian Airlines

EIH on boards 27 public commercial assets including ethiotelecom & Ethiopian Airlines Ethiopian Investment On-boards its Subsidiaries.How nations manage their resources is one of the key determinants on whether they succeed or fail in the path to wealth creation. While debating on key policy matters, policymakers tend to over-emphasize public debt and overlook the value of public assets. Globally, public assets are by far larger than public debts worth at least twice the global GDP. Furthermore, public assets that are well-managed on average, add three percent of GDP as additional revenue to the govemment budget (IMF). Countries around the globe establish either sovereign or public wealth funds to manage their public assets and pass on wealth to the future generation. These institutions serve as catalysts for prosperity as they can unlock the value of public assets. Recognizing that Ethiopia’s assets are far greater than the county’s liabilities, Ethiopian Investment Holdings is established to build on previously successful public asset reform initiatives and accomplish three main objectives. These objectives are:to serve as a strategic investment arm of the govemment: to contribute to sustainable economic development of the country, through professional management of its funds and assets by following international best practices and corporate governance principles;to provide a strategic vehicle to attract foreign investment by, among others, establishing a coinvestment platform, consolidating assets for further monetization, unlocking values from current unutilized assets, and thereby bringing the highest possible return on investment. The establishment of sovereign or public wealth funds in Ethiopia and other African countries plays a pivotal role in correcting the narrative that labeled the continent as exotic, risky, and aid-dependent. These funds play a pivotal role in using capital strategically to establish industrial development in several sectors to create inclusive economic opportunities for its vibrant and young population. These funds can also help attract large scale anchor investors by creating co-investment platforms to mitigate risks in key sectors of the economy where conventional investment incentives such as income tax exemption, customs tax exemption, and land facilitation may not be sufficient to attract large-scale investments. Additionally, they provide the legal basis for the government to move away from a regulatory role to an active owner where it can optimize public assets by instilling the principles of good governance, professional management, and prudent investment practices. To officially launch operations and with the aim of laying a strong foundation for collaboration with its subsidiaries, the Ethiopian Investment Holdings launched a two-day on-boarding summit to be held on June 23 and 24h 2022. The main objectives of the Summit are to highlight international good practices of corporate governance and portfolio management by holding companies: align expectations with subsidiaries on topics such as transparency and disclosure, talent and organizational development, commercial discipline and value creation: and assert the importance of mobilizing investment into and with state-owned commercial companies. The summit will bring together prominent global experts, CEOs and board chairs of subsidiary companies, and  representatives of partner institutions. The summit will offer keynote speeches, presentations, panel discussions.and smaller group interactions to allow for exchange of ideas at multiple levels. Tags ethiopia business news ethiopian airlines Ethiopian Investment Holdings ethiotelecom

Ethiopia has earned 513.9 million USD from gold production in the past 11 months

Ethiopia has earned 513.9 million USD from gold production in the past 11 months Ethiopia has earned 513.9 million USD from gold production in the past 11 months, according to the Minister of Mines, Engineer Takele Uma. This year’s export earnings are the second largest in terms of foreign exchange earnings from coffee exports. The ministry said the licenses of 972 investors in the mining, production and export sectors who have not been able to carry out various investment licenses have been revoked due to their involvement in harmful activities. The Ministry of Mines ÷ stated that it is undertaking various reforms to ensure that Ethiopia and its citizens benefit from mineral and natural resources. It is also indicated that the mining sector is working diligently despite various national environmental challenges. He said the work done to replace the mining industry inputs that require high foreign exchange is yielding promising results. Tags Ethiopia export Gold export Ministry of Mines takele uma

The 5th annual conference on Ethiopia- Norway collaboration on Health and Higher Education held in Addis Ababa.

The 5th annual conference on Ethiopia- Norway collaboration on Health and Higher Education held in Addis Ababa. Addis Ababa, Ethiopia June 21, 2022 – The annual conference on Ethiopia – Norway collaboration in Health and Higher Education for Development that aims to support and celebrate ongoing partnership and collaborations within health and higher education. The Conference was officially held today in Addis Ababa and was attended by high government officials, invited guests as well as members of the media. Attended by nearly 150 delegates, the 5th annual Conference hosted by the Royal Norwegian Embassy in Addis Ababa with the theme “Harnessing Strategies during and after a Pandemic; implications, and opportunities for Partnerships”, was focused on the key areas of Ethics in Public Health Care, Gender in public health, Trauma Care, Non-Communicable Diseases, and Communicable Diseases. The event also celebrates several decades of Ethiopian-Norwegian partnership in health and higher education while also creating a medium for key stakeholders and partners for exchange and learning. Successful conferences in the past have proven the importance of the organization of a regular meeting platform for interaction and experience sharing between stakeholders. This is where new areas of cooperation, synergies, and efficiencies are established. In her opening remark Her excellency Ms Merete Lundemo, Ambassador of Norway to Ethiopia, while expressing the commitment of her government to its partnership with Ethiopia in the health and higher education sectors stated that “the Conference contributes to the harnessing of the ongoing partnerships by providing a platform for networking and exchange. The purpose is to  bring out synergies for further and new partnerships. The government of Ethiopia through the many sectors and the Ministry of Health in particular has been decisive for the success of the conference and vital in the furthering of of the results of the programs. We are grateful for the collaboration. A number of prominent institutions were also present at the conference including University of Oslo, Haukeland University Hospital, Ethiopian Ministry of Health, Ministry of Woman and Social Affairs, St. Paul’s Hospital, Black Lion Hospital and Cancer Care Ethiopia, to mention a few. The partnerships between Norwegian and Ethiopian institutions are working to promote and build better health facilities and broader access to health-services by enhancing the capacity of institutions and health personnel. Norway has a long-term commitment for SDG 3 and has been engaged in wide-ranging efforts to improve health internationally for decades. Priority has been given to access to vaccines, women’s and children’s health, and the fight against AIDS, tuberculosis and malaria, as well as efforts to fight non-communicable diseases such as cancer and diabetes. Advocating sexual and reproductive health and rights is an important part of Norwegian policy. Norway is a committed champion for women’s right to access to health care and to decide over their own bodies. Supporting family planning and women’s access to safe abortions are key priorities for Norway. Norway is currently supporting numerous global health initiatives playing a key role in shaping institutions of the global health architecture, as well as in funding them. These include GAVI, the vaccine alliance that has helped vaccinate over 800 million children since its inception and the access to Covid-19 Tools Accelerator, ACT-A – a facility aiming to improve access to vaccines, diagnostic tools and medicines for Covid-19 and its vaccine pillar, COVAX,  has delivered over 1,5 billion vaccines to low- and middle-income countries. These contribute to improved service delivery within the national health sector in Ethiopia and build fundamental infrastructure to improve resilience against the major challenges.

Ethiopian Airlines Group CEO, Mr. Mesfin Tasew, has been elected as member of the IATA Board of Governors

Ethiopian Airlines Group CEO, Mr. Mesfin Tasew, has been elected as member of the IATA Board of Governors Ethiopian Airlines Group CEO, Mr. Mesfin Tasew, has been elected as member of the IATA Board of Governors at the 78th International Air Transport Association Annual General Meeting held in Qatar. https://www.iata.org/en/about/corporate-structure/boardgovernors/ Chair of the Board Mehmet Tevfik Nane Vice-Chairperson of the Board (Managing Director) PEGASUS AIRLINES Members Michael Rousseau President and Chief Executive Officer AIR CANADA Benjamin Smith Chief Executive Officer AIR FRANCE-KLM GROUP (representing Air France) Douglas Parker Chairman AMERICAN AIRLINES Shinichi Inoue President and Chief Executive Officer ANA John Dietrich President and Chief Executive Officer ATLAS AIR Tang Kin Wing Augustus Chief Executive Officer CATHAY PACIFIC Ma Xulun Chairman CHINA SOUTHERN AIRLINES Pedro Heilbron Chief Executive Officer COPA AIRLINES Mesfin Tasew Bekele Chief Executive Officer ETHIOPIAN AIRLINES Topi Manner President and Chief Executive Officer FINNAIR Luis Gallego Martín Chief Executive Officer IAG (representing IBERIA) Ronojoy Dutta Chief Executive Officer INDIGO Yuji Akasaka Representative Director, President JAPAN AIRLINES Robin Hayes President and Chief Executive Officer JETBLUE Pieter Elbers President and Chief Executive Officer KLM Walter Cho Chairman and Chief Executive Officer KOREAN AIR Roberto Alvo Chief Executive Officer LATAM AIRLINES GROUP Carsten Spohr Chief Executive Officer LUFTHANSA Izham Ismail Group Chief Executive Officer MALAYSIA AIRLINES Mohamad El-Hout Chairman and Director General MIDDLE EAST AIRLINES Akbar Al Baker Group Chief Executive QATAR AIRWAYS Abdelhamid Addou Chairman and Chief Executive Officer ROYAL AIR MAROC Yvonne Manzi Makolo Chief Executive Officer RWANDAIR Ibrahim Al-Omar Director General SAUDI ARABIAN AIRLINES Goh Choon Phong Chief Executive Officer SINGAPORE AIRLINES Christine Ourmières-Widener Chief Executive Officer TAP AIR PORTUGAL Ahmet Bolat Chairperson of the Board and Executive Committee TURKISH AIRLINES Scott Kirby Chief Executive Officer UNITED AIRLINES Enrique Javier Beltranena Mejicano President and Chief Executive Officer VOLARIS ​—– Willie Walsh Director General IATA

WorldRemit terminates service with four Ethiopian Banks

WorldRemit terminates service with four Ethiopian Banks One of the leading international money transfer company , WorldRemit, announced that it has terminated the money transfer service it renders through Abay Bank, Oromia Bank, Wegagen Bank and Nib Bank. In a message sent out to its customers WorldRemit said that it takes such measures when it believes that it cannot maintain its service quality. “At WorldRemit, we pride ourselves on offering the best possible service to our customers. Sometimes that means removing services where we don’t believe we can provide the best-quality service or the widest range of options for you,” the message reads. “We’ve decided to remove bank transfers to Abay Bank, Oromia International Bank, Wegagen Bank, NIB International Bank. From 27/06/2022, you’ll no longer be able to transfer funds to Abay Bank, Oromia International Bank, Wegagen Bank, NIB International Bank Bank accounts,” the company said. WorldRemit assured its customers that it will continue providing the money transfer service to Ethiopia via other banks. “We do apologise for any inconvenience this causes to you or your loved ones. The good news is you will still be able to send funds to other banks in Ethiopia. Have a look at our website and app for more information.” Tags ethiopian news ethiopian news daily Money Transfer WorldRemit

Amhara Bank SC Open for Business With 72 Branches

Amhara Bank SC Open for Business With 72 Branches Amhara Bank SC has officially launched its operations today. The inauguration ceremony of Amhara Bank SC was held at the Bank’s headquarters in Legehar today.The inauguration ceremony was attended by the Governor of the National Bank, Dr. Yinager Dessie, the Speaker of the House of Federation, Agenehu Teshager, the Chief of the Amhara Regional State, Dr. Yilkal Kefale, various government officials and invited guests. During its official launch date Amhara Bank opened 72 branches. The Chief Executive of the Amhara Region, Dr. Yilkal Kefale, conveyed his congratulations to the organizers and founders of the Bank as well as to those who contributed to the realization of the Bank. He said he believes the bank will do a better job of mobilizing international and national experiences in the financial sector in connection with the country’s transformation. He said the bank will play its role in accelerating the development of the country and its citizens by being inclusive and competitive. Melaku Fenta, Chairman of the Board of the Bank, said Amhara Bank has gained 185,000 shareholders in its one-year and three-month share sale. He said 6.5 billion birr has been signed and 5.9 billion birr has been paid up. As part of its inauguration programme the bank bank will open a savings account of 2000 Birr for newborns today. Bank of Amhara List of 72 branches! ******* Addis Ababa Branches 1. Addisu Gebeya 2. Adwa Bridge 3. 4 Kilo 4. Ayat Square 5. Beqelo Bet 6. Bole 24 7. Bole Bulbula 8. Bole Medhanialem 9. Bole Michael 10. Commerce 11. Dubai Tera 12. Ehil Berenda 13. Ferensay Legasyon 14. Gojjam Berenda 15. Gotera 16. Hannah Mariam 17. Jemo 18. Lafto 19. Lem Hotel 20. Lideta 21. Sarbet 22. Shema Tera 23. Tor Hailoch 24. Legehar (Headquarters) Branches of Bahir Dar 1. Bahir Dar 2. Dej Azmach Belay Zeleke 3. Dengel 4. Fasilo 5. Gion 6. Shembet 7. Zenbaba Gondar branches 1. Gondar 2. Abba Samuel 3. Arada 4. Maraki 5. Atse Fasildes Dessie branches 1. Dessie 2.Tosa Debre Tabor branches 1. Debre Tabor 2. Guna Branches of Debarkus 1. Debre Markos 2. Menqorer Branches of other cities 1. Genda Wuha 2. Shoa Robit 3. Hosanna 4.Bishoftu 5. Yirgalem 6. Dabat 7. Hayq 8. Dangla 9. Bichna 10. Dansha 11. Waliso 12. Debre Berhan 13. Finote Selam 14. Areti 15. Kombolcha 16. Hawassa 17. Loggia 18. Kemise 19. Mekanesalam 20. Motta 21. Maksegno 22. Debrework 23. Merawi 24. Dejen 25. Sekota 26. Woldia 27. Wolkite 28. Dire Dawa 29. Adama 30. Injibara **** Amhara Bank, Beyond the Bank! Tags amhara bank branches amhara bank inauguration

Yene Guzo among the four winners of the DT4A Innovation Challenge

Yene Guzo among the four winners of the DT4A Innovation Challenge Addis Ababa (June 14, 2022)—Today the Digital Transport for Africa (DT4A) initiative, led by WRI and partners and funded by the French Development Agency (AFD), selected four winners of the first-ever DT4A Innovation Challenge. From private companies to universities and NGOs, these initiatives are helping shift transportation toward more sustainable, equitable results through open data, particularly in the paratransit or informal transport sector. Each winner of the Innovation Challenge — projects based in Côte d’Ivoire, Ethiopia, South Africa and Sudan — will receive a phased award of US$30,000. Over the next year, each project will use support from DT4A to implement new activities, culminating in presentations in June 2023 of their progress and impact. Today, only 15 African cities have mapped their public transport systems and minibus taxi networks in a standardized and open format. At least 105 million people living in African cities do not have reliable information on their transit systems. Lack of data on transit systems presents a major barrier to improving transportation, including data on routes, users and operators. Most African cities rely on some form of informal or semi-formal transport, dominated by fragmented private operators. Fully mapping cities’ transit networks can not only improve the experience of users but foster ecosystems and skills that can enable African cities to leverage the data revolution. The four winners of the DT4A Innovation Challenge were chosen from more than 100 submissions: eWarren Mobility, Abidjan, Côte d’Ivoire eWarren is a start-up mobile app that offers a cashless payment system to passengers of “woro-woro” municipal taxis and traditional ferries in the municipality of Cocody, Abidjan. eWarren plans to expand the capabilities of the app to allow passengers to reserve seats, access their traveler information, and generate dynamic datasets around informal public transport in the standard GTFS format. The data will then be made available to others to use and test. Such a database could even be coupled with Abidjan’s formal public transport network to enable users to seamlessly use both formal and informal services. eWarren also plans to expand digital payments to mini-bus services. AddisMap, Addis Ababa, Ethiopia YeneGuzo, by AddisMap, is a mobile application made from the open source Trufi application and OpenStreetMap data with the Ethiopian Ministry of Transport and Logistics. YeneGuzo helps both transport service providers and riders understand different transport options available at a given place and time. The application works in the native Amharic language and uses a minimal interface to be as accessible to as many riders as possible. Furthermore, it is freely distributed and open source so it can be improved by anyone. AddisMap plans to improve awareness of YeneGuzo and its trip planning applications by including multiple modes, conducting a massive data collection and editing campaign, developing public relations and training materials, and launching a communications campaign. With more than 210 designated routes across two major public bus services, two light rail routes and more than 500 additional informal mini-bus taxi routes across Addis Ababa, each operating with their own schedules, routes and stations, there are significant efficiencies to be gained. GoMetro, Stellenbosch, South Africa GoMetro plans to collect and map the operational data of Stellenbosch’s minibus taxis with the purpose of developing a business feasibility model to transition the entire 80-vehicle fleet to electric. The minibus taxi accounts for 84% of public transport services and 74% of passenger journeys in South Africa, but no effort has been made to reduce the fleet’s carbon footprint. Beyond fewer carbon emissions, electrifying South Africa’s minibus taxis can bring benefits such as cleaner air, longer service life and improved service quality. But feasibility studies for the electric transition are difficult if not impossible without operational and mapping data on how minibus taxis are used day to day. GoMetro will collect a full fleet operational dataset of the entire informal transit fleet in the town of Stellenbosch in order to investigate the operational opportunity of electromobility conversion from diesel to electric minibuses. KhartouMap, Khartoum, Sudan The KhartouMap initiative plans to map the semi-formal bus system of Greater Khartoum, home to nearly 8 million people, for the first time. No official map is currently available to the public. Working with the local government and transport authorities, they aim to generate both physical maps and GTFS-compliant data feeds that can then be integrated into other mapping services. In addition, KhartouMap intends to conduct the country’s largest household mobility survey, with the aim of collecting detailed information about origins and destinations, personal travel behavior and transit accessibility. They also plan to build innovation capacity through “hackathon” workshops at local universities and with entrepreneurial communities. About Digital Transport for Africa Digital Transport for Africa is a collaborative digital commons that supports urban mobility projects in Africa through open standardized data, open-source software and peer-to-peer knowledge sharing. Learn more at digitaltransport4africa.org. About WRI Ross Center for Sustainable Cities WRI Ross Center for Sustainable Cities is World Resources Institute’s program dedicated to shaping a future where cities work better for everyone. It enables more connected, compact and coordinated cities. The Center expands the transport and urban development expertise of the EMBARQ network to catalyze innovative solutions in other sectors, including air quality, water, buildings, land use and energy. It combines the research excellence of WRI with two decades of on-the-ground impact through a network of more than 370 experts working from Brazil, China, Colombia, Ethiopia, India, Mexico, Turkey and the United States to make cities around the world better places to live. More information at www.wrirosscities.org. Tags ethiopian news ethiopian news daily ethiopian news today Yene Guzo

Microsoft collaborates with the Ethiopian Ministry of Education to help digitize the education sector

Microsoft collaborates with the Ethiopian Ministry of Education to help digitize the education sector As part of our Leaders in Digital Transformation of Education program, Microsoft is empowering education systems to move beyond siloed and static data to integrated, real-time insights using modern data and AI services and practices supported by our solution partners. Introducing advanced analytics in education “The Ministry of Education has a vision to sustainably build education and training systems that ensure quality and equitable education for all Ethiopian citizens that will produce a competent and competitive workforce fuelling the country’s economic development. This system allows us to pursue our digital strategy across the education sector,” says Zelalem Assefa, Chief Executive Officer, ICT, and Digital Education. “Microsoft is committed to helping education leaders navigate the complexity of digital transformation. Our goal is to partner with governments and education ministries to envision what is possible and achieve it by leveraging data analytics to optimize student outcomes. In the process, this helps create efficient, responsive, and sustainable processes and allocation of resources,” comments Louise Macquet, Learning Passport and EMIS Programme Manager, Microsoft. Tags ethiopian news ethiopian news daily ethiopian news today

World Bank agrees to provide $ 405 million to Ethiopia

World Bank agrees to provide $ 405 million to Ethiopia The Ministry of Finance has signed a $ 405 million grant agreement with the World Bank. The agreement was signed by Finance Minister Ahmed Shede and World Bank Ethiopia Representative Osman Diye. The money will be used for pastoralism and drought relief in the arid areas, as well as for the prevention of the CVD-19 epidemic. According to ENA, $ 210 million will be used for the development of groundwater in pastoral and arid areas, while the rest will be used to prevent the outbreak of CVD-19 virus. Tags Ahmed Shide ethiopia news today ethiopian news Ministry of Finance