Deputy Premier Meets with IFC’ Vice President For Middle East And Africa (October 8, 2019)

Deputy Prime Minister Demeke Mekonnen today received and held talks with Sergio Pimenta, the International Finance Corporation’s (IFC) Vice President for the Middle East and Africa.

During the meeting, Demeke briefed the IFC’s Vice President on the homegrown economic reform agenda initiated by the Government of Ethiopia to create conducive business and investment environments.

Commending the capacity building support provided by the IFC to Ethiopia’s private sector, the Deputy Prime Minister said the continued support of the Corporation is vital for country’s economic and financial sector reforms.

Sergio Pimenta said the homegrown economic reform agenda is helpful to build stable and strong economy. He also appreciated the government’s move to boost the participation of the private sector in the country’s economy

Pimenta further said the International Finance Corporation will continue to provide capacity building support to Ethiopia’s agricultural sector and to create market linkage between the manufacturing and private sector.

IFC supports the homegrown economic and financial sectors reform initiatives of the country, said the Vice President.

Statement from the Press Secretary FOREIGN POLICY(October 3, 2019)

The United States supports Egypt, Ethiopia, and Sudan’s ongoing negotiations to reach a cooperative, sustainable, and mutually beneficial agreement on filling and operating the Grand Ethiopian Renaissance Dam.  All Nile Valley countries have a right to economic development and prosperity.  The Administration calls on all sides to put forth good faith efforts to reach an agreement that preserves those rights, while simultaneously respecting each other’s Nile water equities.

Priceless Ethiopian Crown to be returned from Netherlands (October 2, 2019)

Priceless 18th-centuries Ethiopian Crown hidden for twenty one years by one-time Ethiopian refugee who found it in a suitcase is set to be returned from Netherlands to home.

The idea to return the ornate gilded copper headgear, featuring images of Christ and the Twelve Apostles, came after refugee-turned-Dutch-citizen Sirak Asfaw contacted Dutch ‘art detective’ Arthur Brand, it was learned.

According to AFP news agency, the crown, which is currently being held in a secure location, would soon be handed to Ethiopian authorities.

Sirak, who works as management consultant for the Dutch government today, fled the country in the late 1970s during the so-called “Red Terror” purges.

Once settled in the Netherlands, Sirak used to receive a stream of Ethiopians, including pilots and diplomats, along with people who had fled a continuous cycle of hardship in Africa’s most ancient country, the news agency reported.

While looking for a document, Sirak stumbled upon the crown in a suitcase left behind by one of his visitors in April 1998.

Despite the fact that he realized that it belongs to Ethiopia, he vacillated to return the crown home since the country was ruled by iron-fisted one-party government that would disappear it again.

Sirak, however, said that when Prime Minister Abiy Ahmed took office last year, he felt that things had changed sufficiently in Ethiopia to finally give the crown back.

The Dutch government too confirmed to AFP that Brand had told them about the crown’s existence saying “its authenticity will now have to be established in close cooperation with Ethiopian authorities,” before the next steps will be taken.

Jacopo Gnisci, a research associate at Oxford University who also examined the artifact and confirmed its authenticity, said there were less than two dozen of these crowns, called “zewd”, in existence.

“These crowns are of great cultural and symbolic significance in Ethiopia, as they are usually donated by high-ranking officials to churches in a practice that reaches as far back as the Late Antiquity,” he added.

This crown has an inscription dating to 1633-34, but Gnisci said it was more likely to have been made a century later and was commissioned by one of Ethiopia’s most powerful warlords, “ras” Welde Sellase.

The artifact is currently being stored at a high-security facility in the Netherlands.

PM Officially Launches ‘Beautifying Sheger Project’ (October 1, 2019)

Prime Minister Dr Abiy Ahmed has officially launched the 12km section of the 56km ‘Beautifying Sheger Project’.

The first phase of the project launched today will be built by the China Communications Construction Company (CCCC) with a grant secured earlier this year from the Chinese Government.

Senior government officials, including Minister of Finance, Ahmed Shide, Minister of Water, Irrigation and Energy, Dr Engineer Seleshi Bekele, and Deputy Mayor of Addis Ababa city, Engineer Takele Uma, attended the launching ceremony of the project.

Beautifying Sheger Project is a three-year initiative of the Prime Minister aimed at making the capital Addis Ababa a tourist destination.

In his remark at the launching ceremony, the Prime Minister said, “No force can stop Ethiopia’s journey towards prosperity.”

“Ethiopia’s existence and prosperity relies on the hard work and commitment of its people,” he indicated.

The project is intended to make Addis Ababa live up to its name, he added.

Beautifying Sheger project runs along the rivers of Addis Ababa, developing 56km green spaces starting from Entoto to Akaki.

The project launched today runs from Entoto to Bambis Bridge and is 12 km long. It features open space for recreation, artificial lake, and wedding venue on 42 square kilometers of area in front of Sheraton Addis hotel.

It is expected to be finalized by May 2020.

The Prime Minister also said the National Palace renovation project will be finalized on October 10, 2019.

It will be open for visitors beginning from Oct 14. Visitors are required to pay 200 birr to visit the National Palace.

UN Security Council Members to Visit Ethiopia (October 2, 2019)

Members of the UN Security Council will visit Ethiopia and South Sudan at the end of October, said Jerry Matjila, permanent representative of South Africa to the UN and president of the council for October.

They will be in the Ethiopian capital and home to the headquarters of the African Union (AU) on Oct. 23-24 for annual consultations between the panel and the AU’s Peace and Security Council, Matjila told correspondents at a monthly briefing on Tuesday.

The following day, the envoy said, he will be joined by U.S. Ambassador to the UN Kelly Craft, who took up her post on Sept. 12, in leading the mission to Juba for a one-day visit on Oct. 25.

“Already there’s a proposal of the agenda and a series of meetings have been scheduled for this particular mission visit,” he said.

The Security Council mission is expected to leave Addis Ababa on Oct. 26 and come back to New York the following day.

During October the council is slated to discuss issues on the Middle East, preventive diplomacy, several UN missions in Africa, as well as women, peace and security in Africa, winding up with a session on Kosovo, Matjila said.

Ministry Invites Advisory Firms for Partial Privatization of Ethio Telecom. (September 30, 2019)

Briefing journalists, Finance State Minister Eyob Tekalegn said, “We have issued an expression of interest to hire a transaction advisory firm to lead the partial privatization of the telecom.”

The request for expressions of interest for a transaction advisor firm for the process of partial privatization of the telecom posted today on the website of the ministry will be closed after two weeks.

Public Enterprises Holding and Administration Agency will select and probably engage the consulting firm on November 1, 2019, Eyob added.

Ethio telecom has hired the international firm KPMG recently to support the valuation and sales process.

The state minister further revealed that the process of privatizing sugar factories is underway and energy reform roadmap is being finalized.

Foreign Minister Gedu Andargachew Delivers Opening remarks at the Energy Action Forum(September 23, 2019)

Foreign Minister Gedu Andargachew delivered opening remarks at the Energy Action Forum today hosted by Ford Foundation on the sidelines of the ongoing 74th Session of the United Nations General Assembly meeting.

He noted that the Forum is a priority as it is taking place on the eve of the most high-level gathering of Heads of State and Governments dealing with urgent climate change issues since the Paris Conference in 2015. He further underscored Ethiopia’s commitment to building a Climate Resilient Green Economy. He called for stronger focus on access to energy in the poorest and most vulnerable countries in the investment decisions of the Green Climate Fund. 

Ethiopia and Denmark will co-chair the Climate Action Summit of the ongoing 74th Session of the United Nations General Assembly.

PM Upbeat that Homegrown Economic Reform Will Propel Ethiopia to African Icon of Prosperity (September 09, 2019)

The homegrown economic reform will propel Ethiopia to become the African icon of prosperity by 2030, Prime Minister Abiy Ahmed said. 

Opening a forum held to brief international development partners and the diplomatic community on the Homegrown Economic Reform agenda of the country, the premier stated that “the homegrown economic reform agenda is close to my heart and I believe it’s our bridge to prosperity, enabling us to become a middle-income nation that ensures sustainable development.”

Acknowledging that the next capture of Ethiopia’s growth and development requires more active private sector, Abiy said “we have opened up key economic activities to private investment.”

According to him, his government prioritized the success of key sectors such as agriculture, manufacturing, mining and ICT anchor in the vision for building a prosperous nation. “Our priority is to create economic environment that closes income inequality gap by creating opportunity and access of sources for all our youth.”

The premier called on development partners to continue strengthening their support.

International development partners who participated in the discussion praised the country’s efforts to reduce poverty and to continue economic growth.

They stated that they would provide financial and technical support for the implementation of the economic reform.

Annual meeting of Ethiopian Ambassadors and higher officials Concludes (September 08, 2019)

The week-long annual meeting of Ambassadors, Heads of Mission and higher officials of the Ministry of Foreign Affairs of the Federal Democratic Republic of Ethiopia concluded today. The meeting was held under the theme of “Institutional Reform for Diplomatic Excellence” from 2-7 September 2019.

Foreign Minister Gedu Andargachew noted the previous year had been focused on bringing peace and security to the Horn region and the success had enabled Ethiopia to build trust and create solid cooperation among neighboring countries. He also emphasized the possible ways of building a robust and competitive institution. During the week, the meeting discussed and assessed the Ministry’s major activities and set directions for the next year, reviewing strategic goals and key programs as well as considering the draft Foreign Relations Policy Document and current regional issues.

Ethiopia: a priority country for US investment support (August 21, 2019 )

Ethiopia is a priority in USA’s plan to support investment in developing countries, says Overseas Private Investment Corporation (OPIC).

In a press conference via telephone Acting President and Chief Executive Officer of the Corporation David Bohigian told the media that USA is ready to support investment in developing nations. Over the last 50 years OPIC has been working to ensure that countries are more prosperous and under the Development Finance Corporation the BUILD Act, is working to ensure that we focus even more of our efforts in countries that have less than 4,000 USD per capital GDP, Bohigian explained.

OPIC has currently invested over 5 billion USD in Africa, the CEO said adding this catalyzes billions of dollars more, and that kind of investment really promotes stability, prosperity, connectivity and trade. According to him, a capital of 60 billion USD, which should help catalyze hundreds of billions more, and that is more than double our current capacity is allotted for the first time.

The Development Finance Corporation will be making equity investments, which will be particularly useful in private equity funds throughout the continent. “We focus on key areas that can improve livelihood of a community as well as sectors like infrastructure, housing, energy, and education. Ethiopia is a primary beneficiary of US support, and we are actively looking for projects and deals to support in that country” said Bohigian.

So that’s going to lead us into more investments into sub-Saharan Africa, as well as Africa as a whole, to be able to ensure that U.S is helping people there get electricity, help them get affordable housing, help them get education and beyond. He further noted “I have the opportunity to visit Ethiopia and learn that the progress is exciting about the opportunities and the potential that the country has for economic growth and increased OPIC commitments.”

The USA will also supply technical assistance and feasibility studies to be more proactive in identifying and developing opportunities for development, he added. We’ll also be focused more on economically empowering women, where today we’ve already mobilized more than 1 billion USD and Senior Adviser Ivanka Trump and I traveled to Ethiopia earlier this year to talk about the Africa piece of the 2X initiative.