Strategic Woldia-Mekelle Highway seized by government coalition forces

Strategic Woldia-Mekelle Highway seized by government coalition forces The campaign, led by Prime Minister Abiy Ahmed, cut off the main road to Woldia & Mekelle. Coalition forces have seized control of key towns of Arjo, Fokisa and Boren, including the Zobl plateau, which is strategically located on the eve of the Eastern Front’s offensive against the terrorist invader. Similarly, by controlling the Gura Worke areas, Woldia Mekelle cut off the main highway and left the enemy without a way out. Similarly, by controlling the Gura Worke areas, Woldia Mekelle cut off the main highway and left the enemy without a way out. Meanwhile, the combined forces are advancing on Hara, taking control of the cities and mountains of Dire Roca and Sodom, which are of great military importance. On the Wuchale front, it is moving towards Mersa town, controlling the rolling hills of Ambasal, Robit and Golbon, Milk Kotchan in Werebabo district, Kolbon, Merkata and Fajin areas in Habru district. Tags ethiopia news mekelle tplf woldia road

Ethioipian Gold Project: Akobo Minerals shortlisted for ESG award

Ethioipian Gold Project: Akobo Minerals shortlisted for ESG award Organisations were considered based on how well they have developed a long-term sustainable ESG strategy, and the nominated companies were recognised as having successfully integrated ESG into this strategy in a meaningful manner. The shortlist of those companies was decided by a panel of both ESG and mining industry experts. Commenting on being nominated for the award, Jørgen Evjen, CEO at Akobo Minerals, stated: “We are proud to have been one of only six highly regarded companies from around the world shortlisted for our ESG activities by Mines & Money London. Akobo Minerals, in its present guise, has only been operating for little over one year and despite not winning the award, to even be shortlisted for such a prestigious honour speaks volumes about the great strides we have taken in this time – in general as an exploration and mining operation; and specifically, in developing our ESG activities. “After a period of rapid growth, this shortlisting shows that we are considered to be within an important peer group of respected and forward thinking exploration enterprises. Every employee can be proud of the part they have played in helping to build our world class ESG program – one that is already benefiting the local population on the ground in Ethiopia where we are successfully building our exploration and mining activities. ESG will always be at the heart of our corporate philosophy.” Akobo minerals is a gold exploration and mining company focusing on projects along the Akobo river in southwestern Ethiopia, a prolific area with extensive alluvial gold production. Tags Akobo minerals ESG award

Addis Ababa to host the 4th ET Real estate and expo.

Addis Ababa to host the 4th ET Real estate and expo. December 10, 2021 – The 4th edition of Ethiopian Real Estate and Home Expo aimed at providing a platform for leading local and international real estate developers is set to be held from January 1st to 2nd, 2022 in Addis Ababa. The real estate expo comes at a time where Addis Ababa, the diplomatic capital of Africa is experiencing rapid urbanization with more than 600 real estate business currently in operation. In an effort to address the ever-increasing demand for real estate properties in Ethiopia, 251 Communications has organized the last three rounds of the Ethiopian home expo that brought together thousands of visitors with local and international real estate developers. 251 Communications, with a decade of experience in organizing major events for global companies has finalized all preparations to host the upcoming 4th ET real estate & Home Expo to be held at the Hilton Hotel Addis Ababa. The event is expected to be a one stop destination to fulfil housing, furnishing and installation needs bringing the biggest real estate and home accessories companies in the country under one roof, Showcasing a wide range of products services and properties to potential home seekers.In addition to the growing demand and market gap that drives the real estate sector, Ethiopians and friends of Ethiopians around the world are expected to respond to the national call as part of the Great Ethiopian Home coming initiative that will see 1 million Ethiopian diasporas travel back home in early January 2022 ahead of Ethiopian Christmas celebrations. The 4th ET real estate and home expo which will officially open its doors to the public on the 1st   of January 2021 at the Hilton Hotel Addis Ababa in the presence of officials, invited guests and Members of the media is expected to add value to the progress that is being registered in the real estate development sector while providing the platform for developers to showcase a wide range of products, services, and properties to potential home seekers to discover and find their dream home. For more Information visit Home | ET REAL-ESTATE HOME EXPO (251homeexpo.com) –      Ends   – Tags hayat realestate Noah realestate

Nigeria’s Paga plans Ethiopia and crypto expansions in 2022

Nigeria’s Paga plans Ethiopia and crypto expansions in 2022 Nigerian payment platform Paga plans to press ahead with plans to expand in Ethiopia in 2022, and is also considering developing a crypto-currency product in Africa outside Nigeria, CEO Tayo Oviosu announced. The company has a license to operate in Ethiopia. As yet there is no date to start operations there, but Oviosu hopes it will be in the first half of the year. He does not expect “full-scale civil war” to break out in Ethiopia, where the company has about 40 people on the ground.  Fighting between government forces and the Tigrayan People’s Liberation Front “won’t impede our plans.” in the previous venture Nigerian digital payments startup Paga has acquired Apposit, a software development company based in Ethiopia, for an undisclosed amount. The Lagos based startup will also launch its payment products in Mexico this year and in Ethiopia imminently, CEO Tayo Oviosu stated. The moves come a little over a year after Paga raised a $10 million series B round and Oviosu announced the company’s intent to expand globally a while ago Tags apposit paga

ECA reports global energy market estimate $1.9 trillion in investments while Africa’s share is modest

ECA reports global energy market estimate $1.9 trillion in investments while Africa’s share is modest The Economic Commission for Africa (ECA) and the RES4Africa Foundation have jointly released a series of country regulatory reviews on electricity markets in Ethiopia, Rwanda, Zambia, South Africa and Ghana. In 2020 alone, the global energy market saw about $1.9 trillion in investments, of which emerging and developing countries attracted 1/5th. Africa captured only a fraction, signaling the crucial importance of addressing private sector investment participation challenges in the electricity market. Towards this end, addressing regulatory and policy challenges in the sector is essential. Ethiopia’s Growth and Transformation Plan I (GTP) outlined a 15-year plan with three 5-year phases to transform Ethiopia from a developing country to a middle income country by 2025. Under GTP I (2010-2015), the goal had been to increase the installed generation capacity from 2,000 MW to 10,000 MW primarily through hydro power projects. With some of those projects still under construction, the country currently has approximately 4,500 MW of installed generation capacity. Mr. William Lugemwa, Director of ECA’s Private Sector Development and Finance Division, stated that “the work we do on national regulatory reviews, capacity support on regulatory system development using our upcoming software (ROAR), and our work with AUC on a continental framework on regulation and private sector participation are essential in working with member States towards regulatory improvements to meet SDG7 goals.” Ethiopia has abundant renewable energy resources and has the potential to generate over 60,000 megawatts (MW) of electric power from hydroelectric, wind, solar and geothermal sources. As a result of Ethiopia’s rapid GDP growth over the previous decade, demand for electricity has been steadily increasing. Despite Ethiopia’s energy potential, the country is experiencing energy shortages and load shedding as it struggles to serve a population of over 110 million people and meet growing electricity demand that is forecast to grow by approximately 30% per year. Tags ECA

An adjustment was made to the retail price of petroleum products

An adjustment was made to the retail price of petroleum products Ministry of Trade and Regional Co-operation announces new adjustments to the retail price of petroleum products in December. The ministry said the stabilization fund has caused more deficits than ever before due to rising global oil prices. The new retail price has been set due to the fact that the retail price of domestic products has increased by 100 percent from neighboring countries and the product is prone to high smuggling. As a result, it was decided to increase the price of petrol from 31 birr to 74 cents per liter, increasing the price from last month. It also sells white fuel for 28 birr and 94 cents, white gas for 28 birr and 94 cents, light black diesel for 23 birr and 73 cents, heavy black oil for 23 birr and 29 cents and jet fuel for 58 birr and 77 cents. Tags oil price petroleum price

Ethiopian Airlines Wins African Airlines Business Travel Award 2021

Ethiopian Airlines Wins African Airlines Business Travel Award 2021 Ethiopian Airlines has been announced as the winner of the 2021 African Airlines Business Travel Award. Ethiopian Airlines, Africa’s largest aviation industry, has won an award for its work in the world-famous Business Travels magazine. This year’s award covers 24 months of customer feedback. Also highlighted are the effectiveness of airline communication and Covid-19 prevention measures. Being at the forefront of the combat field against COVID-19, Ethiopian Airlines has transported the most needed medical supplies to over 80 countries since the outbreak. Ethiopian was one of the few airlines that didn’t quit operation despite border closures and travel restrictions by countries due to the pandemic. As a result, the airline reunited more than 63 thousand stranded citizens of different countries with their families and loved ones. Timing of the epidemic is included in the treatment of passengers, trustworthiness, and ticket changes. Tewolde G. Mariam, CEO of Ethiopian Airlines, said “the award is a reflection of the airline’s customer satisfaction.” He said the award is a testament to the success of the airline’s efforts to deliver superior customer service everywhere. Operating in an incredibly challenging region for airlines, state-owned Ethiopian Airlines evolved over the decade from a national carrier to the first true pan-African airline, based on a strategy that leveraged its hub in Addis Ababa and strategic equity investments in smaller national African operators. Tags ethiopian airlines

China will open “green lanes” for African agricultural exports to China- Xi Jinping

China will open “green lanes” for African agricultural exports to China- Xi Jinping 2021-11-29 23:08 Keynote Speech by H.E. Xi JinpingPresident of the People’s Republic of ChinaAt the Opening Ceremony of the Eighth Ministerial Conference ofThe Forum on China-Africa Cooperation 29 November 2021 Your Excellency President Macky Sall,Distinguished Colleagues,Dear Guests and Friends, It is such a pleasure to attend the opening ceremony of the Eighth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC). Let me first express sincere appreciation to President Sall and the government of Senegal for their excellent organization, and extend a warm welcome to the colleagues and guests attending the Conference. This year marks the 65th anniversary of the start of diplomatic relations between China and African countries. Over the past 65 years, China and Africa have forged unbreakable fraternity in our struggle against imperialism and colonialism, and embarked on a distinct path of cooperation in our journey toward development and revitalization. Together, we have written a splendid chapter of mutual assistance amidst complex changes, and set a shining example for building a new type of international relations. Dear Friends, Why do China and Africa have such a close relationship and so deep a bond of friendship? The key lies in an everlasting spirit of China-Africa friendship and cooperation forged between the two sides, which features sincere friendship and equality, win-win for mutual benefit and common development, fairness and justice, and progress with the times and openness and inclusiveness. This truly captures the relations of China and Africa working together in good and hard times over the past decades, and provides a source of strength for the continuous growth of China-Africa friendly relations. This year marks the 50th anniversary of the restoration of China’s lawful seat in the United Nations. Here, let me express sincere appreciation to the many African friends who supported China back then. Let me also make it solemnly clearthat China will never forget the profound friendship of African countries and will remain guided by the principle of sincerity, real results, amity and good faith and the principle of pursuing the greater good and shared interests. China will work together with African friends to promote and carry forward the spirit of China-Africa friendship and cooperation from generation to generation. Dear Friends, At the 2018 FOCAC Beijing Summit, I proposed that we build an even stronger China-Africa community with a shared future. The proposal was unanimously endorsed by African leaders. Over the past three years and more, China and Africa have worked together to fully implement the eight major initiatives and other outcomes of the Beijing Summit, and completed a large number of priority cooperation projects. China-Africa trade and China’s investment in Africa have been on a steady rise. Almost all African members of FOCAC have joined the big family of Belt and Road cooperation. All these have injected strong impetus into the China-Africa comprehensive strategic and cooperative partnership. A journey of a thousand miles begins with the first step. As we stand at the historic starting point of building a China-Africa community with a shared future in the new era, I wish to make the following four proposals: First, fighting COVID-19 with solidarity. We need to put people and their lives first, be guided by science, support waiving intellectual property rights on COVID-19 vaccines, and truly ensure the accessibility and affordability of vaccines in Africa to bridge the immunization gap. Second, deepening practical cooperation. We need to open up new prospects for China-Africa cooperation, expand trade and investment, share experience on poverty reduction, strengthen cooperation on digital economy, and promote entrepreneurship by young Africans and the development of small and medium-sized enterprises (SMEs). At the UN General Assembly this year, I put forward the Global Development Initiative, which dovetails with the African Union’s Agenda 2063 and the UN’s 2030 Agenda for Sustainable Development. We welcome the active support and participation by African countries. Third, promoting green development. In the face of climate change, which is a major challenge to all humanity, we need to advocate green and low-carbon development, actively promote solar, wind and other sources of renewable energy, work for effective implementation of the Paris Agreement on climate change and keep strengthening our capacity for sustainable development. Fourth, upholding equity and justice. The world needs true multilateralism. Peace, development, equity, justice, democracy and freedom are common values of humanity and represent the abiding aspirations of both China and Africa. We both advocate a development path suited to our national conditions and are both committed to upholding the rights and interests of developing countries. We both oppose intervention in domestic affairs, racial discrimination and unilateral sanctions. We need to unequivocally stand for the just propositions of developing countries and translate our common aspirations and interests into joint actions. Dear Friends, In the run-up to this Conference, our two sides have jointly prepared the China-Africa Cooperation Vision 2035. Under the first three-year plan of the Vision, China will work closely with African countries to implement the following nine programs: First, the medical and health program. To help the AU achieve its goal of vaccinating 60 percent of the African population by 2022, I announce that China will provide another one billion doses of vaccines to Africa, including 600 million doses as donation and 400 million doses to be provided through such means as joint production by Chinesecompanies andrelevant African countries. In addition, China will undertake 10 medical and health projects for African countries, and send 1,500 medical personnel and public health experts to Africa. Second, the poverty reduction and agricultural development program. China will undertake 10 poverty reduction and agricultural projects for Africa, and send 500 agricultural experts to Africa. China will set up a number of China-Africa joint centers for modern agrotechnology exchange, demonstration and training in China, encourage Chinese institutions and companies to build in Africa demonstration villages for China-Africa cooperation on agricultural development and poverty reduction, and support the Alliance of Chinese Companies in Africa for Corporate Social Responsibilities in launching the initiative of “100 Companies in 1,000 Villages”. Third, the trade promotion program. China will open “green lanes” for African agricultural exports to China, speed up the inspection and quarantine procedures, and further increase the scope of products enjoying zero-tariff treatment for the least developed countries (LDCs) having diplomatic relations with China, in a bid to reach 300 billion US dollars in total imports from Africa in the next three years. China will provide 10 billion US dollars of trade finance to support African export, and build in China a pioneering zone for in-depth China-Africa trade and economic cooperation and a China-Africa industrial park for Belt and Road cooperation. China will undertake 10 connectivity projects for Africa, form an expert group on economic cooperation with the secretariat of the African Continental Free Trade Area (AfCFTA), and give continued support to the development of the AfCFTA. Fourth, the investment promotion program. China will encourage its businesses to invest no less than 10 billion US dollars in Africa in the next three years, and will establish a platform for China-Africa private investment promotion. China will undertake 10 industrialization and employment promotion projects for Africa, provide credit facilities of 10 billion US dollars to African financial institutions, support the development of African SMEs on a priority basis, and establish a China-Africa cross-border RMB center. China will exempt African LDCs from debt incurred in the form of interest-free Chinese government loans due by the end of 2021. China is ready to channel to African countries 10 billion US dollars from its share of the IMF’s new allocation of Special Drawing Rights. Fifth, the digital innovation program. China will undertake 10 digital economy projects for Africa, set up centers for China-Africa cooperation on satellite remote–sensing application, and support the development of China-Africa joint laboratories, partner institutes, and scientific and technological innovation cooperation bases. China will work with African countries to expand Silk Road e-commerce cooperation, hold online shopping festivals featuring quality African products and tourism e-commerce promotion activities, and launch a campaign to market 100 African stores and 1,000 African products on e-commerce platforms. Sixth, the green development program. China will undertake 10 green development, environmental protection and climate action projects for Africa, support the development of the “Great Green Wall”, and build in Africa centers of excellenceon low-carbon development and climate change adaptation. Seventh, the capacity building program. China will help build or upgrade 10 schools in Africa, and invite 10,000 high-level African professionals to seminars and workshops. We will implement “Future of Africa — a project for China-Africa cooperation on vocational education”, and start an employment “through train” scheme for African students in China. China will continue to work with African countries to set up “Luban Workshops”, and encourage Chinese companies in Africa to create at least 800,000 local jobs. Eighth, the cultural and people-to-people exchange program. China will supportmaking all African countries having diplomatic ties with China approved destinations for Chinese tourist groups. We will hold African film festivals in China and Chinese film festivals in Africa, as well as a China-Africa youth services forum, and a China-Africa women’s forum. Ninth, the peace and security program. China will undertake 10 peace and security projects for Africa, continue to deliver military assistance to the AU, support African countries’ efforts to independently maintain regional security and fight terrorism, and conduct joint exercises and on-site training between Chinese and African peacekeeping troops and cooperation on small arms and light weapons control. Dear Friends, Senegal’s first President Léopold Sédar Senghor once wrote, “Let us answer ‘present’ at the rebirth of the world.” I am convinced that the concerted efforts of China and Africa will make this FOCAC Conference a full success, one that shall pool the mighty strength of the 2.7 billion Chinese and Africans and guide us toward a high-level China-Africa community with a shared future. Thank you.

National Bank of Ethiopia Fully Lifts Loan Restrictions

National Bank of Ethiopia Fully Lifts Loan Restrictions The loan restrictions that were implemented for the last four months have been lifted completely, the National Bank of Ethiopia (NBE) reminded today. The National Bank has ordered banks to provide loan service to all their customers, It is to be recalled that the restriction was imposed to prevent “economic sabotage,” and it was implemented following the widening of the gap in the transaction of black market and legal foreign currency. Tags ethiopia news daily national bank of ethiopia today news