The resolution renews an arms embargo and targeted sanctions on individuals. It also extends the mandate of a U.N. Panel of Experts that monitors the measures until October 2026.
During the session, the United States and European allies pushed to include stronger language condemning widespread human rights abuses and the flow of arms into the war-torn country.
“This sanctions regime needs to be effective,” Britain’s representative told the council, arguing it should be updated to tackle “the growing use of mercenaries and drones.”
Russia and China, however, argued for a simple technical renewal, warning against using sanctions as a tool for political pressure. Russia’s envoy said that human rights violations were a consequence, not a cause, of the conflict.
In a direct address to the council, Sudan’s representative accused the United Arab Emirates of fuelling the war by financing private security firms to transport mercenaries into the country.
He said 248 flights had been used to bring in fighters, particularly from Colombia, and alleged that some had used banned white phosphorus munitions in 2024.
Sierra Leone’s envoy, speaking also for Algeria, Guyana and Somalia, said the conflict continues to be “fuelled primarily by military support and foreign interference from external actors.”
(Sudan Tribune)
]]>The project was officially launched in a ceremony attended by officials from the Afar Regional Administration, including Deputy Commissioner for Disaster and Risk Management, Mr. Ali Mohammed.
In line with its long-standing approach to infrastructure development combined with community support, Safaricom Ethiopia also provided emergency relief aid to residents affected by recent flooding in Afdera. The donation, valued at 500,000 Birr, included 1,000 square meters of tenting material, 200 litters of edible oil, 500 kilograms of rice, and 500 kilograms of white flour, aimed at assisting vulnerable communities during their recovery.
Deputy Commissioner Ali Mohammed praised the company’s efforts, emphasising the importance of both improved connectivity and community resilience. Safaricom Ethiopia reaffirmed its dedication to expanding digital infrastructure nationwide while actively supporting communities facing environmental challenges, reflecting its commitment to fostering inclusive growth across Ethiopia.
(African Wireless Communication)
Askari Metals Fast-Tracks Ethiopian Gold Project
Askari Metals is set to accelerate exploration activities at its Nejo gold and copper project in Ethiopia, following a successful desktop study. Askari Metals is an Australian-based company focused on discovering and developing economically viable mineral resources. The company has projects in Australia, and now in Africa, targeting gold, copper, and lithium.
The company acquired the Nejo project in early July for USD 200,000 cash, USD 200,000 in shares, and 20 million unlisted options. Shortly after, Askari identified significant copper potential at the Katta target, including high-grade mineralisation of 14.33 metres at 3.2 percent copper and 35.51m at 0.82 percent copper.
Askari is preparing to launch a regional exploration program, with a field team of specialists set to undertake an initial reconnaissance. The focus will be on high-grade shallow gold mineralisation across the Guliso and Guji-Gudeya trends. The Guliso trend features a continuous strike of approximately 10km, open to the north-east and south-west, while Guji-Gudeya has a continuous strike of approximately 9km.
Executive Director Gino D’Anna stated that the fieldwork will validate and expand upon historical exploration to unlock the potential of the Nejo project. He added that the program lays the foundation for a drilling campaign planned to commence in Q4 of 2025, prioritising high-impact, drill-ready targets while also advancing follow-up work at other zones. Askari is also designing a separate exploration program to test the high-grade copper mineralisation at the Katta target, with the goal of establishing Askari Metals as a leading gold and copper developer in Africa.
(Share cafe)
Ethiopia digitizes over 900 public services as digital govt strategy makes progress
Digital transformation in Ethiopia is on steady progress as the government has announced that more than 900 public services can now be accessed digitally. This milestone is one of the fruits of the Digital Ethiopia 2025 Strategy implementation, ENA reports.
The outlet quotes a senior official in the Ministry of Innovation and Technology, Seyoum Mengesha, as stating recently that Ethiopia’s digital transformation progress is reflected in the building of the three core components of digital public infrastructure (DPI).
The executive mentioned advancements recorded in the implementation of the Fayda digital ID, a digital payments system, and data interoperability infrastructure, all aimed at facilitating the delivery of services in multiple sectors. This progress is largely attributed to two World Bank-funded projects which are aimed at enhancing Ethiopia’s digital transformation pursuits.
Digital government services can now be accessed via the one-stop-shop platform MESOB which was rolled out nationwide in June. This came after a pilot which was said to be highly successful.
According to Mengesha, efforts have also been made by the country to expand digital connectivity infrastructure including the construction of modern data centers of international standards. These and other infrastructure, he said, have contributed to rendering public service delivery in the country seamless.
The Fayda ID is particularly hailed as the foundational pillar of a new Ethiopia Digital Government Strategy 2025-2030. As of July 29, the digital ID has been issued to 20.8 million people.
Ethio Telecom, the country’s main telecommunications company, has also made substantial contributions to the country’s digital transformation. Its CEO, Frehiwot Tamiru, told ENA of the company’s efforts to expand connectivity services through the deployment of 4G network to 16 cities and 5G services to over 500 towns and cities, reaching a combined 83 million Ethiopians.
As part of the digital transformation drive, efforts have also been made in digitizing procurement and property administration processes, the Director General of the Federal Public Procurement and Property Authority (FPPA), Meseret Meskele, is quoted as saying.
Last year, a GSMA report hailed Ethiopia’s digital transformation efforts, citing the digital economy as a major contributor to the country’s GDP growth. It said this could bring up to $10.8 billion to Ethiopia’s economy by 2028, thanks to an expected boom in mobile connectivity especially for sectors like agriculture.
The report also recommended that for the country to keep its digital transformation journey on the right rails, it must implement measures to enhance service and device affordability, reform the telecoms sector, expand mobile money services and increase digital skills and further digitize government services.
(Biometric Update)
Ethiopia’s garment sector sees 70% surge in women leaders
A flagship initiative of the International Labour Organization (ILO) and International Finance Corporation (IFC), the Women Leadership Development Programme (WLDP) has significantly expanded opportunities for women in Ethiopia’s garment industry by equipping workers with essential leadership skills, mentorship, and factory-level coaching. Since its launch in 2021 under Better Work Ethiopia, the programme has helped women ascend into supervisory and mid-level roles, driving measurable improvements in workplace equality and factory performance.
Moreover, it has also benefited senior supervisors, with ten out of 178 mentors achieving promotions to middle-level leadership.
The WLDP employs a multifaceted training approach that includes classroom instruction, practical exercises, and consistent mentorship.
The training has equipped women workers with essential skills such as decision-making, conflict resolution, communication, influencing, problem-solving, and planning.
Factories participating in the programme have observed enhancements in line efficiency and product quality, coupled with a decrease in absenteeism, Better Work stated.
Azeb Abraham, an industrial engineering executive at JP Garment, said: “Before the training, I struggled with communication and lacked self-confidence. After completing the ILO’s Leadership and Technical Skills training, I now take the lead, communicate clearly, and lead my team with confidence.”
The WLDP concluded in May 2025 as a flagship element of the ILO’s Better Work programme aimed at fostering better employment conditions and more equitable workplaces within Ethiopia’s industrial parks.
The initiative also included factory-level coaching and mentorship by preparing mentors, often senior supervisors and HR professionals.
Building upon these achievements, plans are underway to establish a Women Leaders Network in the cities of Hawassa and Addis Ababa.
This network will unite WLDP graduates from the Hawassa and Bole Lemi Industrial Parks to facilitate mentorship, enhance visibility for women leaders, promote inter-factory collaboration, and support women’s career progression and leadership development.
The WLDP is also expanding into horticulture and is partnering with Ethiopia’s Ministry of Industry to implement similar leadership development programmes in eight additional enterprises, seven of which are owned by women.
ILO Better Work Ethiopia team leader Tigist Fisseha said: “The impact of the WLDP is both measurable and deeply personal. We are not only increasing productivity on the factory floor, but helping women unlock their full leadership potential —transforming lives, workplaces, and communities.”
Training is currently underway for the fifth round of the programme.
(MSN)
“Ethiopia’s garment sector sees 70% surge in women leaders” was originally created and published by Just Style, a GlobalData owned brand.
]]>Seeking to curb migration, Western leaders are bolstering border enforcement and striking deals with transit countries. European Commission President Ursula von der Leyen has called for stronger border controls across the continent, and UK Prime Minister Keir Starmer has vowed to “smash the gangs” facilitating illegal crossings.
While the number of international migrants has nearly doubled since 1990, today’s migration pressures are just a glimpse of what lies ahead, as climate change threatens to accelerate displacement sharply. Leaders alarmed by current trends must recognize that these are merely early tremors. Reactive, short-term restrictions will be wholly inadequate to stem the rising tide of people displaced by climate-driven conflicts and disasters.
Instead, governments must confront the root causes of migration. Chief among them is food insecurity, which is rising globally as climate change severely disrupts agricultural production. Nowhere is this more acute than in Africa, which has just experienced its warmest decade on record. In 2023, Kenya suffered its worst drought in 40 years. The following year, Southern Africa faced its most severe drought in at least a century, reducing maize harvests in Zambia and Zimbabwe by more than half. Meanwhile, devastating floods in South Sudan wiped out more than 30 million farm animals in 2024.
These disruptions are harbingers of a more volatile future marked by increasingly frequent and severe climate shocks. If current trends persist, Africa’s crop yields could fall by 18 percent by 2050, while the continent’s population is projected to double by 2070. Elsewhere, too, agricultural productivity is faltering just when it must rise sharply to meet growing demand.
The ripple effects of climate change will not stop at national borders. Climate-driven food insecurity is already one of the main forces driving record-high migration from rural areas to urban centers. As harvests fail and extreme weather destroys livelihoods, more people will be forced to leave their homes in search of safety, stability, and opportunity. Growing competition over dwindling resources is bound to trigger political instability and violent conflict, further fueling migration pressures.
With collapsing food systems already straining governments and testing the resilience of international cooperation, investing in climate-resilient agriculture is the most effective way to ensure global stability. For Western leaders, that means taking concrete steps to expand climate-resilient agriculture abroad, from deploying early warning systems and scaling up drought-resistant crops to promoting agroecological practices that provide protection against extreme weather events.
But making these solutions widely accessible will require dismantling the financial and technical barriers that leave farmers without the tools, knowledge, and capital they need to adapt.
To this end, policymakers and international financial institutions must focus on interventions that can be rapidly scaled. For example, sharing satellite and meteorological data would strengthen early warning systems – a vital resource that enables farmers and governments to take timely, preventive action to protect harvests.
Yet these systems remain out of reach for roughly 60% of Africa’s population. To close this gap, the international community must support regional training hubs and model farms that demonstrate appropriate agroecological practices. Equipping farmers with such expertise will enhance local resilience and help de-risk private investment in innovative agricultural technologies, especially when combined with blended finance tools and public guarantees.
At the same time, Western governments and multilateral organizations must reverse the decade-long decline in public funding for agricultural research and development, which has weakened the global innovation pipeline just as climate risks intensify. As the Tony Blair Institute’s latest paper notes, although research into climate-resilient crops is advancing in high-income countries, it often fails to reach farmers in emerging economies, where commercial incentives are limited.
One promising solution is advance market commitments – a mechanism that enables governments and international institutions like the World Bank to create a market for specific products by pledging to purchase or subsidize them once they are developed. Applying this model to climate-resilient crops could help unlock the investment needed to scale them, benefiting farmers in Africa and beyond.
With population growth driving up demand for agricultural land, today’s food systems cannot meet tomorrow’s needs without bold innovation and political will. To keep pace, regulatory frameworks must become more agile, allowing for faster approval and adoption of next-generation technologies like precision agriculture, gene-edited crops, and alternative animal feeds. As global demand for solutions rises, countries that act early will be best positioned to capture the resulting economic gains.
Strengthening agricultural resilience is not just a development issue; in an age of escalating climate-related disasters, it is a geopolitical imperative. Fortifying borders in the face of growing migration and asylum claims remains a costly and ineffective stand-in for tackling the deeper drivers of displacement, instability, and food insecurity. Without a fundamentally different approach, today’s migration pressures will spiral into a crisis that no government can contain.
Hermione Dace is a Policy Adviser at the Tony Blair Institute for Global Change
Contributed by Hermione Dace
]]>The multiplicity of crises makes it extremely difficult for Finance Ministers to redirect existing resources from one budget line to another. Development that is not sustainable will be short-lived, but sacrificing development for sustainability risks leaving millions behind in poverty. This is the challenge they all face.
Already, a significant climate finance gap exists, with African countries requiring £1.8 trillion by 2030 to address climate change locally. Although African countries have contributed less than 4 per cent of global greenhouse gas emissions, they bear a higher impact burden with limited resources to cope and adapt to the consequences.
Overlaying this financing gap is the reality that 50 per cent of Africa’s population (600 million) still lacks access to reliable, affordable, and sustainable electricity, and 37 per cent live in extreme poverty. If climate change solutions are considered in isolation without a broader development perspective, they will be socially and economically regressive, exacerbating poverty and inequality. There can be no real conversation about addressing the climate crisis in Africa without the broader development needs being at the top of the agenda.
As regional and broader geopolitical uncertainties drive fragmentation, external financing has become less reliable. Finance Ministers, therefore, need to leverage all available options to meet their country’s environmental and developmental needs.
Political economy and public opinion
The sensitivities surrounding climate resilience and development require strong political will and leadership to build consensus. Political leaders may have to make tough decisions on new taxes, the phasing out of subsidies, and cuts in welfare spending, which may have political costs. The significant public investments required today will not immediately return tangible benefits to citizens. This is particularly pressing for finance ministers who must allocate often sparse resources to try to solve an array of current problems. Kenya estimates it will need £41 billion for climate change adaptation and mitigation efforts between 2031 and 2035. By comparison, Kenya’s annual health budget is under £1 billion.
A whole-of-government, rather than a siloed approach, is required to ensure that nationally determined contributions (action plans for mitigation and adaptation to climate change) are aligned with broader national development plans.
Ministers of finance and environment should jointly host and coordinate inter-governmental committees consisting of relevant Ministers, Heads of Agencies, Heads of Departments and sub-delegates to enable collaboration, reduce duplication, and proactively address problems. Uganda for example, established joint leadership to improve the inter-ministerial and inter-agency collaboration on climate and development policy. They use a tripartite arrangement between the Ministry of Finance, Planning and Economic Development, the National Planning Authority and the Ministry of Water and Environment with the ministry of finance also being represented on three strategic climate policy committees. This has resulted in greater policy alignment.
This type of committee could identify dependencies and leverage synergies across their sectors. For example, investing in off-grid renewable solutions can enable electricity access for remote hospitals, schools, buildings and agricultural equipment. It can also create jobs and improve standards of living. Off-grid solar solutions targeting rural areas in Togo have helped electrify community health centres, support safe vaccine storage, and provide access to heated water.
Country platforms and capital mobilisation
Finance ministers will benefit from a government-led, country platform that brings together governments, international financial institutions, development partners, and the private sector to foster partnership and catalyse climate finance in the country for sustainable economic growth.
A harmonised process among funding partners helps to match funding sources to uses, reduces administrative burden, improves transparency, and allows scaled-up financing to meet specific and prioritised country needs.
Some examples of country platforms at various stages of implementation include South Africa’s Just Energy Transition Investment Plan, Egypt’s Country Platform, and Madagascar’s Climate Finance Mobilisation Platform.
De-risking investments
Available domestic and international public finance is limited, and there is a need to attract private capital. However, private capital is often put off by the risk versus return profiles of many sustainable development projects and uncertain policy and regulatory environments.
With the support of policy and regulatory reforms, blended finance, guarantees, insurance, and currency risk mitigation measures, including local currency financing, can help to de-risk investments that align with the country’s sustainable development needs.
Mission 300 is a World Bank and African Development Bank initiative that is looking to connect 300 million people to the power grid across the continent by 2030 by bringing together governments, the private sector, and development partners. Building on the energy sector reforms that African governments committed to in Dar es Salaam, Mission 300 will leverage International Development Assistance resources while using innovative tools and de-risking facilities to mobilise private sector investments.
Sustainable debt management
African countries are approaching burnout due to a vicious cycle of high debt servicing costs, limited fiscal space, the need for additional debt, and spending pressures for sustainable development projects.
Countries frequently dealing with natural disasters require additional resources to fund not only immediate disaster relief but also to build future resilience, placing a significant strain on resources. Finance ministers also need to consider social transfers for the vulnerable to ensure that people don’t fall into extreme poverty after a disaster.
A large portion of the climate finance allocated to Africa is in the form of debt, which contributes to the debt burden. Finance ministers need to combine improvements in fiscal management through tax system reforms with the consideration of innovative structures and instruments, including green bonds, blue bonds, sustainability-linked bonds, debt-for-nature swaps and other nature-based solutions.
Many countries, including Nigeria, South Africa, and Morocco, have issued green bonds for energy, conservation and infrastructure projects. Africa accounts for less than 1 per cent of the global green bond issuances. The potential exists, and the barriers that include limited issuance guidelines and templates, high transaction costs, limited fiscal incentive structure, weak regulatory framework, and capacity constraints, can be addressed.
The Coalition of Finance Ministers for Climate Action is facilitating regional collaboration through the exchange of experiences, best practices, and policies. This can enable African countries to pool their resources and expertise more effectively in managing climate and development vulnerabilities. This approach also leverages continental resources and opportunities across people, trade, infrastructure, and investment to build a sustainable and prosperous continent today and for the future of its young, growing population.
Toluwalola Kasali is a multiple award-winning author, advocate, and award-winning director. She works at the International Finance Corporation and previously served as a Special Adviser to a Minister of Finance in Nigeria.
Contributed by Toluwalola Kasali
]]>The statement follows criticism from the African Peer Review Mechanism (APRM), which labeled Fitch’s methodology as “analytically and legally flawed” for misclassifying sovereign loans to Ghana, Zambia, and South Sudan as NPLs.
Afreximbank emphasized its strict compliance with International Financial Reporting Standards (IFRS), particularly IFRS 9, which governs loan classification and NPL treatment.
The bank reported an NPL ratio of 2.44 percent for Q1 2025, well below its strategic ceiling of four percent, contrasting with Fitch’s estimate of 7.1 percent.
The bank attributed this discrepancy to Fitch’s failure to account for its forward-looking approach, as detailed in its 2024 Financial Statements and external auditors’ report.
Afreximbank firmly rejected any involvement in debt restructuring, citing its 1993 founding treaty, signed by 53 African member states, which grants it preferred creditor status and prohibits such actions.
The bank argued that Fitch’s negative outlook, based on potential debt restructuring, overlooks this legal framework, which ensures repayment obligations by member states. The APRM echoed this, asserting that classifying these loans as NPLs is “legally incongruent” absent formal defaults or debt repudiation.
The bank highlighted its financial resilience, reporting a 29 percent increase in net income to USD 973.5 million for 2024 and a 21 percent rise to USD 215 million for Q1 2025, alongside shareholders’ funds of USD 7.5 billion. Its liquidity profile strengthened, with liquid assets comprising 20 percent of total assets, up from 13 percent at the end of 2024.
(BirrMetrics)
Etihad and Ethiopian Airlines start strategic codeshare partnership
Etihad and Ethiopian Airlines activated their codeshare agreement, strengthening connectivity between Africa and Asia, Australia, and the Middle East. This bilateral partnership enhances global travel opportunities for guests, with seats available to book now.
Ethiopian will start services from Addis Ababa Bole International Airport (ADD) to Zayed International Airport (AUH) on 15 July, and Etihad Airways introducing daily flights to Addis Ababa starting 8 October..
This is the first step ahead of implementation of the groundbreaking13 Joint Venture agreed between Etihad and Ethiopian in March 2025 unlocking greater travel opportunities for passengers across both networks.
The codeshare lets guests simplify their journeys by making a single booking with one check-in process at the start and the added convenience of having their baggage transferred to their final destination.
Arik De, Etihad’s Chief Revenue and Commercial Officer said: “By leveraging our combined networks, we are unlocking seamless travel opportunities between Africa and Asia, Australia, and the Middle East. Easy connections via Abu Dhabi and Addis Ababa, will enhance flexibility, boosting trade and tourism, and delivering unparalleled travel experiences to guests of both airlines.”
Under this partnership, Etihad passengers will gain access to Ethiopian Airlines’ extensive African network, with connections via Addis Ababa to 55 destinations across 33 countries, including Entebbe, Kinshasa, Kigali, Lusaka, Harare and Victoria Falls expanding their travel options across the continent.
At the same time, Ethiopian Airlines passengers can book itineraries connecting to Etihad-operated flights through Abu Dhabi, with onward service to 20 key destinations across Asia, Australia, and the Middle East including Sydney, Krabi, Colombo and Phnom Penh.
As part of its commitment to Africa’s growing demand for air travel, Etihad is significantly expanding its network in 2025, introducing new destinations and increased frequencies to strengthen links across the continent.
(Aeronews)
Ethiopia forecasts faster growth next fiscal year
Ethiopia’s economy will grow slightly faster in the fiscal year that starts next month, while its budget deficit will increase marginally, its finance minister said on Tuesday.
The East African nation, which is restructuring its external debt, is implementing far-reaching economic reforms backed by an International Monetary Fund loan programme.
Finance Minister Ahmed Shide told parliament that the government is forecasting economic growth of 8.9 percent in the fiscal year that runs from July 8, 2025, to July 7, 2026, up from an estimated 8.4 percent in the current fiscal year.
A budget deficit of 2.2 percent of gross domestic product (GDP) is expected versus 2.1 percent this fiscal year, while overall spending will be about 1.9 trillion birr (USD 14 billion) next year, he said.
Ethiopia’s export revenue over the past 11 months of this fiscal year stood at USD 7.2 billion, Ahmed said, up 118.2 percent from the previous financial year. Prime Minister Abiy Ahmed has told domestic media outlets in recent days that the country’s coffee and gold exports have surged.
The IMF projected in its January assessment that goods exports for the full financial year would grow to USD 4.59 billion and for services to USD 7.97 billion. The fund has been carrying out another assessment of the economy, with its findings expected to be published in the coming weeks.
Ethiopia’s export figures are being watched closely by markets as they are at the centre of a row between bondholders and the government over whether Ethiopia faces an insolvency problem or a liquidity issue, which could determine whether the investors will accept a writedown or not.
Strong export earnings growth could support the bondholders’ case that Ethiopia faces a liquidity issue.
That would enable them to push for repayments on Ethiopia’s defaulted $1 billion bond to be stretched out, rather than taking losses on the principal of their investments, also known as haircuts, if an assessment of insolvency carries the day.
Formal talks between the two sides on the restructuring of the bond are expected to start in the coming weeks.
(Reuters)
]]>The draft law, which provides a dedicated framework for early‑stage, technology‑driven companies, now awaits debate and passage by the House of People’s Representatives.
Officials said the Startup Act aims to address chronic barriers faced by entrepreneurs—chiefly limited access to finance, regulatory ambiguity and underdeveloped infrastructure—by offering targeted incentives and streamlined procedures.
Under the draft, which was prepared by a task force led by the Ministry of Innovation and Technology, a “startup” is defined as a technology‑based enterprise less than three years old with annual gross revenue below ETB five million (approximately 38,000 US dollars).
But the financial thresholds in the code were calculated when the US dollar traded at just 57 birr. Since then, the birr has weakened significantly following the government’s shift toward a more flexible exchange rate regime, with the official rate now approaching 130 birr to the dollar—more than double what it was when the law’s provisions were drafted.
The draft law envisages the creation of an Ethiopian Startup Fund (ESF) with an initial endowment of two billion birr (around 36 million US dollars) to provide seed grants and low‑interest loans.
In addition, accredited incubators and accelerators would receive co‑financing of up to 30 percent of project costs, and public universities would be required to allocate at least two percent of research budgets to partnerships with certified startups.
A central feature of the Act is the establishment of a one‑stop “Startup Desk” within the EIC to issue certificates, maintain a registry and coordinate with regional states. The legislation also proposes a regulatory sandbox regime under the National Bank of Ethiopia for fintech products and under the Ethiopian Communications Authority for telecom‑related services.
Certified startups operating within these sandboxes could pilot products for up to 12 months under relaxed rules, provided they meet consumer‑protection and reporting requirements.
If approved by parliament—anticipated by mid‑July—the Startup Act will take effect 15 days after publication in the Federal Negarit Gazeta. Existing startups that meet the criteria at enactment will have a 90‑day window to register and claim retroactive benefits.
(BirrMetrics)
$60M to speed up digital connectivity infrastructure in Ethiopia, Djibouti, Tanzania
A data center operator, Wingu Africa, has announced the obtention of $60 million to accelerate the rollout of critical digital connectivity infrastructure in Ethiopia, Djibouti and Tanzania.
In the announcement, the company says the funding has been provided by a corporate and investment bank, Rand Merchant Bank, with the aim of strengthening the digital ecosystems in these three East African nations and power their digital transformation efforts.
Following the fund raiser, the Group CEO at Wingu Africa, Anthony Voscarides, described the move as an investment towards Africa’s digital sovereignty.
“This is not just an investment in infrastructure, it’s an investment in Africa’s digital independence. We’re expanding the capacity that will empower innovation, accelerate economic growth, and connect Africa to the future,” he said.
The company’s deputy CEO, COO and Co-founder, Demos Kyriacou, also remarked: “The mission is clear: to build the digital backbone of Africa. We’re delivering at scale, with neutrality, trust, and vision, enabling the continent’s digital sovereignty and future growth.”
Corrie Cronje, a senior transactor at Rand Merchant Bank, said providing the funding shows the bank’s support for Wingu Africa’s “commitment to advancing digital growth across the continent” and its desire to invest in a connected future for all.
(BIOMETRIC UPDATE)
Ethiopian Airlines considering order for at least 20 regional jets, CEO says
Ethiopian Airlines is looking to order at least 20 regional or small narrowbody jets as it moves to expand its domestic fleet and replace some ageing aircraft, the airline’s chief executive told Reuters on Monday.
“We are evaluating three aircraft models, the E-2 from Embraer, the A220 from Airbus, and the 737 MAX 7 from Boeing,” CEO Mesfin Tasew Bekele said in an interview.
The final order quantity will depend on the type chosen, he added. Boeing’s 737 MAX 7, which has a larger seating capacity and sits at the bottom of a larger category than the Airbus A220 and Embraer E-2, is yet to be certified.
Africa’s largest carrier is experiencing strong travel demand but has been constrained by jet delivery delays and the grounding of some aircraft due to engine shortages stemming from supply chain disruptions.
“We are receiving airplanes from both Boeing and Airbus, but deliveries have been delayed, some by three months, some six months, some more,” Mesfin said on the sidelines of an annual IATA meeting of global airline leaders.
The company is also in talks with lessors to bring onboard some jets to ease capacity constraints.
The airline is among several facing grounded aircraft due to bottlenecks in engine maintenance plants. Ethiopian has three Boeing 787 widebody jets grounded due to a shortage of Rolls-Royce engines, with five turboprop aircraft grounded due to a shortage of RTX’s Pratt & Whitney engines.
“Normally engines were supposed to be repaired and returned in three months typically, but now it takes six months or even more to get them repaired and returned,” Mesfin said.
(REUTERS)
GAC launches in Ethopia with emphasis on NEV ecosystem
China-based GAC International has held a brand launch event in Addis Ababa, capital of Ethiopia, officially announcing its “Ethiopia Action” and introducing two new energy vehicle (NEV) models – the AION Y Plus and the electric SUV ES9.
The event was attended by high-level government officials including Chinese Ambassador to Ethiopia, Dr. Alemu Sime Feyisa and Feng Xingya, Chairman and President of GAC Group.
Chairman Feng highlighted Ethiopia’s 120 million population market and fuel vehicle ban as key NEV opportunities, pledging GAC’s green transition support. The company also committed to charging station rollout and ‘joint industrial hub development to modernise Ethiopia’s auto industry’.
Under its “One GAC 2.0” globalisation strategy, GAC said it will leverage its ‘built-in energy ecosystem to establish a full-chain industrial ecosystem, delivering end-to-end NEV solutions covering product development, intelligent manufacturing, channels, and services’.
GAC’s “Ethiopia Action” strategy launches the AION Y Plus and ES9, showcasing pure electric and plug-in hybrid options. GAC has opened the first flagship showroom in Addis Ababa with nationwide expansion planned and said it is also advancing localization via a KD (knock down kits) factory.
The Ethiopian Investment Commission and Transport and Logistics of Ethiopia, spoke highly of “Ethiopia Action”, confirming the project’s inclusion in national automotive strategy, supporting “Made in Ethiopia 2025”.
GAC also said that as the ‘gateway to East Africa, Ethiopia will serve as GAC’s key hub for implementing the Belt and Road Initiative and advancing Africa’s green mobility transformation’.
(Just Auto)
]]>Once approved by the IMF’s Executive Board, Ethiopia will gain access to another $260 million in financing.
“The (Ethiopian) authorities’ policy actions in the first year of the programme have yielded strong results. The transition to a flexible exchange rate regime has proceeded with little disruption,” the IMF statement said.
“Macroeconomic indicators have performed better than expected, with substantially better outcomes than forecast for inflation, goods exports and international reserves.”
(Reuters)
ZTE, Ethio Telecom Deploy Africa’s First All-Optical Government Network
ZTE announced that it has successfully deployed the FTTR-B all-optical network for the office building of the Grand Ethiopian Renaissance Dam (GERD) project. Led by Ethiopia’s state-owned operator, Ethio Telecom, ZTE provided a full suite of services, from a comprehensive solution design to equipment supply and implementation support. This project marks a new milestone in the deepening collaboration between the two parties in digital infrastructure development, injecting strong momentum into the informatization of Ethiopia’s key national projects.
ZTE provided Ethio Telecom with a tailor-made FTTR-B solution, transforming the GERD office building into Africa’s first all-optical government office benchmark. With high bandwidth, low latency, exceptional stability, and complete coverage, the solution has significantly improved the office experience and operational efficiency, helping the GERD enter a new era of smart office management.
Moving forward, ZTE will continue its partnership with Ethio Telecom to broaden the application of FTTR across the African market and boost the digital transformation of more national-level projects, with an aim to jointly build a digital Africa and embrace an intelligent future.
As the central hub of the project, the GERD office building plays a crucial role in coordination, dispatch, and daily operations, and thus requires a highly reliable, secure, and intelligent network.
(The Fast Mode)
Mauritania’s Sidi Ould Tah Elected President of African Development Bank
Sidi Ould Tah, a Mauritanian economist and development banker, has been elected President of the African Development Bank Group (AfDB), taking the helm of Africa’s premier multilateral lender at a time of growing uncertainty in global economic governance.
The announcement, made during the Bank’s Annual Meetings in Abidjan, Côte d’Ivoire, sets the stage for the new leadership as the institution grapples with slowing global growth, rising debt distress across the continent, and the changing posture of Western development partners—chief among them, a resurgent Trump administration whose past scepticism of multilateral institutions still casts a long shadow.
Tah will assume office on September 1, 2025 for a five-year term, succeeding Nigeria’s Akinwumi Adesina, who steps down after a transformative but sometimes turbulent decade at the Bank’s helm.
A former Minister of Economic Affairs and Finance of Mauritania and the long-serving president of the Arab Bank for Economic Development in Africa (BADEA), Tah emerged from a crowded field of five candidates to clinch the presidency. His election was confirmed by Niale Kaba, Côte d’Ivoire’s Minister of Planning and Development and Chair of the AfDB Board of Governors, after securing the required double majority—over 50.01 percent of both African (regional) and non-African (non-regional) shareholder votes.
The new President led a sweeping institutional overhaul that quadrupled the bank’s balance sheet, earned it a AAA credit rating, and established a one billion US dollars callable capital facility to support African multilateral development banks. That record, according to many shareholders, tipped the scales in his favour.
(BirrMetrics)
Ethiopian takes delivery of its last Boeing 777F
Ethiopian Cargo has received its 12th Boeing 777 production freighter on order as it continues to build its fleet.
The aircraft, registered ET-BAC, left Boeing’s Everett factory at Seattle Paine Field International Airport (PAE) in the US on 23 May, Flightradar24 records show.
It flew from PAE to Addis Ababa Bole International Airport (ADD), arriving on 24 May. The aircraft has already carried out flights to Ouagadougou, Burkina Faso and Bamako, Mali. It is also scheduled to fly to Lagos, Nigeria on 27 May.
“Ethiopian Cargo has received its 12th Boeing 777 freighter aircraft, ET-BAC. This milestone delivery not only expands our cargo capacity but also enhances our logistics network across key global markets, reinforcing our leadership in airfreight,” said Ethiopian Cargo in a LinkedIn post on 27 May.
“Ethiopian Airlines is honoured to be the recipient of this iconic aircraft, a testament to our strong partnership with Boeing and our continued investment in cutting-edge fleet technology.”
In January this year, Ethiopian took delivery of its 11th 777F, registered ET-BAB.
(Air cargo news)
]]>The study — The Human Cost of Public Sector Cuts in Africa — highlights the effects of fiscal consolidation policies across six African countries, with Ethiopia emerging as one of the hardest hit. Drawing on fieldwork involving 100 respondents in Ethiopia, including 40 public sector workers and 60 community members, the report documents a deepening crisis in frontline services, compounded by debt distress and growing inequality.
According to ActionAid, Ethiopia’s strict adherence to International Monetary Fund (IMF) guidance on curbing public spending, limiting wage bills and pursuing privatisation has hollowed out its capacity to deliver basic services. The findings paint a picture of overstretched teachers, under-resourced clinics and women disproportionately burdened with unpaid care work.
In the education sector, 100 percent of surveyed teachers in Ethiopia reported sharp declines in basic provisions such as desks and textbooks. School budgets, they noted, have been slashed by over 50 percent in the past five years. Ethiopia’s student-teacher ratio currently stands at 1:55 — nearly double the international recommendation of 1:30.
The report found that 81 percent of teachers share limited supplies to cope with overcrowded classrooms.
In healthcare, Ethiopia allocates just 7.1 percent of national revenue — well below the 15 percent Abuja Declaration target. The country has only 1.43 doctors and 10.47 nurses per 10,000 people, with maternal and child health services particularly affected. Of surveyed health workers cited persistent equipment and staffing shortages, leading to prolonged wait times and declining quality of care.
As public services falter, women have assumed increasing unpaid care responsibilities, estimated at up to 28 additional hours per week. “This is a gendered crisis,” the report states, “with women absorbing the shocks of failing systems.”
Ethiopia’s economic constraints are further compounded by external debt repayments, which account for six percent of national revenue. The report flags the 213 million US dollars the country loses annually to illicit financial flows and criticises the IMF’s recent Extended Credit Facility programme — signed in July 2024 — for reinforcing spending limits that inhibit recruitment of essential workers.
ActionAid argues that such conditionalities have had a chilling effect across the continent, estimating a $10 billion cut in public sector budgets across 15 countries due to IMF austerity.
In response, the organisation has outlined a suite of recommendations for Ethiopia and other affected governments:
The report urges Ethiopia to resist wage bill caps and fiscal tightening measures that have eroded service delivery and worker recruitment. It also called for a coordinated push among Global South countries to advocate for debt cancellation and a new UN-led framework on sovereign debt. More than 75 percent of low-income countries now spend more on debt servicing than on health.
National governments should reject coercive IMF policies, seek debt relief or cancellation, and expand tax revenues in fair ways to rebuild public health and education workforces and infrastructure, ActionAid said.
Beyond fiscal policy, ActionAid’s report takes aim at the global financial architecture, criticising the IMF and World Bank for what it describes as “colonial-era dynamics” that prioritise creditors over citizens. African countries hold less than 10 percent of the IMF’s voting power, despite bearing the brunt of its policies.
Ethiopia’s long-standing engagement with the Fund — including nine IMF programmes since 1945 — has done little to insulate it from recurring crises, the report argues.
In July 2024, the International Monetary Fund (IMF) approved a four-year, 3.4 billion US dollars Extended Credit Facility (ECF) arrangement for Ethiopia to support the country’s Homegrown Economic Reform Agenda. The program aims to address macroeconomic imbalances, restore debt sustainability, and lay the foundation for inclusive, private sector-led growth .
Officials argue the IMF program was a strategic choice by the Ethiopian government to bolster its reform agenda.
(BirrMetrics)
Ethiopia unveils FaydaPass digital wallet to boost financial inclusion
Ethiopia has launched what it calls the FaydaPass wallet, the latest move in its digital public infrastructure (DPI) program aimed at speeding up financial inclusion as well as verification for access to a number of other government services.
Tech5 and payments giant Visa supported the country in the development of the wallet, the former providing its T5-Airsnap and T5-OmniMatch systems.
The launch of the wallet came on the day representatives of these two firms shared thoughts about leveraging the use of digital identity in the financial sector on the second day of ID4Africa 2025 which Ethiopia is hosting.
According to the developers and owners of the FaydaPass wallet, the platform has been built to serve “a diverse and inclusive user base” and to address critical digital Know Your Customer (KYC) verification needs.
To them, the move will dramatically change how users access especially financial services in the vast East African country.
Obtaining a digital ID using the wallet will be easy and streamlined, which means that users can simply download the official app and request their digital ID credential through it.
Ethiopia’s Coopbank is mentioned as the first to integrate the FaydaPass, with the bank’s CEO, Deribie Asfaw, describing their collaboration as one that “enables us to reach financially marginalized communities who have long been excluded from the formal financial system due to the absence of such robust infrastructures.”
With the FaydaPass wallet, users will be able to create a bank account with Coopbank and can also request a virtual Visa card for payments, the announcement explains.
“This brings us one step closer to the community and reinforces our commitment to leaving a meaningful mark on the country’s digital transformation journey. As it allows us to live our purpose of Empowering Communities and Transforming Lives, we are truly delighted to take part in this impactful initiative,” Asfaw added.
Also commenting on the launch of the wallet, the Executive Director of Ethiopia’s National ID program, Yodahe Zemichael, said: “A credential wallet would be a container for government and private sector issued-standardized verifiable credentials. It’s an exciting new way of delivering value to citizens and extending the functionality of Fayda Digital ID.”
Tech5 Co-founder, Chairman, and CTO, Rahul Parthe, praised the move as one that will unluck numerous use cases for Ethiopians, and that the ecosystem is “a vital step in the country’s digital transformation.”
The company’s Cluster Head for Eastern Africa and Ethiopia Country Manager, Yared Endale, called it “a groundbreaking initiative that will significantly enhance financial inclusion and streamline digital transactions.”
“By leveraging advanced biometric eKYC verification, we are paving the way for secure and seamless financial services that will benefit millions of Ethiopians.”
(BIOMETRIC UPDATE)
The Assela Wind Farm Delivers First Power to Ethiopia’s National Grid
The Assela 100 MW wind farm has reached a significant milestone as its first turbines have started feeding power into Ethiopia’s national grid.
By the end of 2025, when all 29 turbines are fully operational, the wind farm will generate over 300 GWh of clean and sustainable energy annually – enough to meet the electricity needs of more than 140,000 Ethiopian households.
Located 150km south of Addis Ababa in the Oromia region, the Assela wind farm is owned by the state utility Ethiopian Electric Power (EEP). The project is fully financed by Denmark through a grant from IFU’s Danida Sustainable Infrastructure Finance (DSIF) and a loan from Danske Bank.
Constructed by the Spanish-German company Siemens Gamesa, the project illustrates the European Global Gateway strategy, which leverages finance and expertise from public and private Team Europe partners to build smart, clean and secure energy connections worldwide.
The project supports Ethiopia’s ambition to achieve the Sustainable Development Goals and middle-income status by 2030 through a climate-resilient and low-carbon development path. Large-scale renewable energy generation is key to reducing reliance on fossil fuels in transport and industry, as well as on traditional biomass fuels predominantly used by rural households. Wind energy also diversifies Ethiopia’s electricity mix – which currently depends heavily on hydropower – strengthening climate resilience. With the Assela wind farm, Ethiopia moves closer to universal access to modern, affordable energy and to becoming a regional power hub in Eastern Africa, eventually supporting the decarbonisation across the region.
High-level representatives from Ethiopia, Denmark, and the European Union gathered on site to mark this milestone, which also earned praise from the European Commissioner for International Partnerships.
Semereta Sewasew, State Minister of Finance for Economic Cooperation said that, the Farm represents a major step in Ethiopia’s shift toward a resilient and diversified energy system. “It demonstrates our ability to deliver technically advanced alternative energy solutions through blended finance, strong institutional coordination, and lasting partnerships. Our collaboration with the Kingdom of Denmark has been instrumental in integrating clean energy into the national grid and advancing our economic and climate objectives.”
On his part, Sune Krogstrup, Ambassador of Denmark to Ethiopia said that the farm showcases the robust partnership between Denmark and Ethiopia. “Drawing on Denmark’s extensive experience, we are proud to contribute to enhancing Ethiopia’s energy system. This collaboration not only advances Ethiopia’s renewable energy capacity but also strengthens the bonds between our nations and is a great illustration of the Global Gateway led by the European Union and its Member States.”
Sofie From-Emmesberger, Ambassador of the European Union to Ethiopia: “The Assela wind farm is the first milestone in implementing Global Gateway in Ethiopia’s energy sector. Congratulations to Denmark, Ethiopia and Siemens for delivering this critical and sustainable infrastructure! Team Europe will continue supporting smart investments that contribute to Ethiopia’s clean energy transition, especially through an extended partnership with Ethiopian Electric Power to modernise and digitalise its electricity grid.”
European Commissioner for International Partnerships, Jozef Síkela: “This is a perfect example of Global Gateway in action: Transformative investments in strategic sectors as energy to unlock potential growth and boost job creation. The Assela windfarm will not only improve the daily lives of people in Ethiopia, it will upscale local businesses and create new opportunities for communities. It also creates new links between Europe and Ethiopia, with European companies at the heart of its construction. A true win-win cooperation. And that is what Global Gateway is about.”
(europa.eu)
Askari paves way to secure gold-rich foothold in Ethiopia
Askari Metals has wrapped up due diligence and is moving forward to buy 460 square kilometres of prime exploration ground near multi-million-ounce gold mines in Ethiopia’s famed Adola greenstone belt.
When the deal is sealed, Askari will walk away with a prime piece of gold real estate by unlocking a strategic foothold in the southern Arabian-Nubian Shield – a geological hot spot hosting some of the world’s largest undeveloped gold and copper deposits.
Under the terms of the acquisition, the company has agreed to take over 100 per cent of Rift Valley Metals, the current owners of the exploration grounds in exchange for USD 200,000 in cash and USD 200,000 in Askari shares, issued at the share price on the day of completion. Those shares will be held in voluntary escrow for 12 months.
Two further milestone payments totalling USD 200,000 in cash and shares will be doled out based on the company picking up multiple rock chip samples of at least three grams per tonne (g/t) and 10 samples of more than 10g/t, together with a trench result of 10m grading 3g/t or more. A final payment of USD 150,000 in cash will be handed over 12 months after completion.
What makes this deal shine is its proximity to tier-1 gold mines. Askari’s five freshly acquired tenements – Sakaro, Sakaro West, Lega Dembi South, Megado and Wayu Boda – are parked right next door to Ethiopia’s only two operating gold mines, Lega Dembi and Sakaro, which have already coughed up multi-million ounces between them.
The Lega Dembi mine has produced 2.5 million ounces and still holds a current resource of 2.5M ounces, while Sakaro has more than 600,000 ounces at a blistering grade above 14g/t gold. The company’s Megado tenement, which sits a little further to the south, is only 30 kilometres north of the 17.7M-ounce Dawa-Okote gold project.
“Our onsite due diligence identified several significant large-scale artisanal mine workings along this highly prospective greenstone gold belt underpinning our belief that with modern exploration, the full potential and value of these areas can be unlocked. For Askari, this acquisition represents an opportunity for the company to make a significant discovery and implement the necessary infrastructure to assemble a tier-1 gold portfolio in Ethiopia,” Askari Metals executive director Gino D’Anna, said.
Askari says it is moving quickly to unlock value from its acquisition. These mineralised veins are particularly prominent at the Wayu Boda project. Additionally, abundant copper staining hints at potential polymetallic mineralisation.
Askari says the real prize may lie beneath the surface after remote sensing and geophysical data lit up gold-bearing structures that may extend far beyond visible outcrops.
The company has already commenced preparations for high-resolution satellite studies and systematic mapping across the new holdings.
With gold pushing above USD 3300 (A$5153) an ounce, the timing of the acquisition appears spot on. Adding to the gold price buzz, Ethiopia is seen as a pro-mining country with modern mining laws and a government welcoming foreign investment.
Askari’s leap into Ethiopia has given the company a first-mover edge among Australian explorers. The vast, 2.7M square kilometre Arabian-Nubian Shield hosts massive mines, such as Centamin’s 11M-ounce Sukari gold mine in Egypt and Barrick’s 30 million tonne Jabal Sayid copper play in Saudi Arabia. However, Ethiopia’s slice of this mineral-rich monster has remained virtually untouched.
Beyond the latest Ethiopian deal, Askari says it remains hot on the acquisition trail, assessing additional gold projects in the region.
(The West Australian)
Birr slips to 133.17 in forex auction, widening spread with 152 parallel market rate
The Ethiopian birr continued its gradual weakening against the US dollar in the latest foreign exchange auction, with the National Bank of Ethiopia (NBE) allocating 50 million US dollars at a weighted average rate of 133.1715 birr, reflecting mounting pressure on the currency amid persistent shortages of hard currency.
The auction — the sixth of its kind over the last one year period — drew bids from 14 commercial banks, compared with 16 banks that secured allocations at the previous auction two weeks earlier, when the central bank offered 60 million US dollars and the average exchange rate stood at 132.96 birr.
Though the movement in the official rate appears modest, it takes place against the backdrop of a rapidly deteriorating parallel market, where the dollar now trades at over 152 birr — more than 14 percent above the latest auction rate. Forex bureaus, which operate in a regulated space, have also raised their offers to around 150 birr, while average rates in the banking system hover near 132 birr, effectively creating a fragmented and multi-tiered currency environment.
The auction mechanism, reintroduced by the NBE following the floating of the local currency, was conceived as a step toward currency liberalisation and greater transparency in foreign exchange allocation. However, the persistent misalignment between official and market-clearing rates has raised questions about the sustainability of the current approach.
The central bank is allowing the birr to adjust incrementally, but the fundamentals suggest it is falling behind market realities, according to experts.
(BIRRMETRICS)
]]>The figures, disclosed by the Ethiopian Coffee and Tea Authority (ECTA), represent an 87 percent increase in export revenue compared to the same period last year, with shipment volumes rising by 70 percent to 354,302 metric tonnes. The surge marks a striking rebound in one of the world’s oldest coffee economies, powered by targeted domestic reforms and favourable conditions in global markets.
Adugna Debela, Director-General of ECTA, attributed the strong performance to Ethiopia’s national coffee development strategy, which includes efforts to improve traceability, enhance quality control, and expand access to international buyers through digital auction platforms and bilateral trade agreements.
Ethiopia’s top export destinations remained stable, with Germany, Saudi Arabia and the United States leading in volume and value. Demand from traditional partners has been bolstered by shifting consumer preferences toward sustainably sourced, single-origin Arabica beans qualities for which Ethiopian coffee is globally renowned.
As the ancestral home of Arabica coffee, Ethiopia occupies a unique place in the global supply chain. But recent gains come against a backdrop of heightened volatility in international commodity markets, where coffee prices have been buffeted by climate risks, supply chain disruptions, and geopolitical tensions in other major producing regions such as Brazil and Colombia.
The International Coffee Organization (ICO) recently noted a sustained uptick in global Arabica prices, driven by tighter inventories and a post-pandemic resurgence in out-of-home consumption. Meanwhile, specialty coffee consumption is growing in Asia and the Middle East, creating new opportunities for African exporters.
Despite macroeconomic headwinds including a persistent foreign exchange shortage and high inflation at home Ethiopia’s coffee sector has benefited from a weakening local currency, which has made its exports more competitive on the international stage.
With two months remaining in the Ethiopian fiscal year, authorities are optimistic that the upward trajectory will continue. If current trends hold, Ethiopia is on track to surpass the two billion US dollars mark in annual coffee earnings for the first time.
(BirrMetrics)
African intelligence officials visit Ethiopia’s Renaissance Dam
A group of African intelligence chiefs visited the Grand Ethiopian Renaissance Dam (GERD) on Wednesday in a public relations effort by Ethiopia.
13 intelligence officials were taken to GERD while visiting the country for the Committee of Intelligence and Security Services of Africa, held in Addis Ababa from Sunday to Thursday.
The officials were briefed on GERD’s development, which, according to Deputy Director of the project Ephraim Hailay Mikkel, is already producing electricity and is set to generate 2,600 megawatts of power, up from its current production of 1,800 megawatts.
Tazer Gebre Qezabihir, the Deputy Director General of Ethiopia’s National Intelligence and Security Service, claimed the visit was part of efforts by the Ethiopian government to combat “disinformation” about the project.
He said that the project was an example of how African countries can develop mega projects, according to the Ethiopian news agency Fana.
Downstream countries, such as Sudan and Egypt in particular, however fear that the controversial project will deprive them of life-giving Nile water, exposing their populations to drought and famine.
The Nile river provides over 90 percent of Egypt’s water and construction of the Ethiopian dam began in 2011, when Egypt was preoccupied with internal politics following the ouster of longtime dictator Hosni Mubarak.
Years of negotiations between Egypt, Sudan, and Ethiopia over the project have largely stalled, with Egypt calling its water security a “red line”. In the past, Egyptian leaders have threatened military action if Ethiopia were to proceed with the construction of a dam on the Nile River
The visit from security officials is the latest in Ethiopia’s efforts to promote GERD, with the inclusion of the project in February’s Nile Day celebrations, which sparked condemnation from Egypt.
Several high ranking officials from African countries, including the water ministers from Kenya, Tanzania, Uganda, Sudan, and South Sudan, visited GERD during the celebrations.
(The New Arab)
Ethiopia, Kenya set to launch cross-border trade under AfCFTA framework
Ethiopia and Kenya have set to launch a cross-border trade shortly aiming to facilitate a simplified trade regime that will enable communities at the border to get access to essential commodities.
This follows a memorandum of understanding (MoU) the two neighbors signed last April to fast-track the implementation of the African Continental Free Trade Area (AfCFTA), Wondimu Filate, Public Relations and Communication Affairs Director at the Ministry of Trade and Regional Integration (MoTRI) told reporters on Monday in a briefing.
“The cross- border trade will take place across their common border covering 50 kilometers within Ethiopian territory and 100 kilometers in the territory of Kenya,” Filate said.
He said livestock animals, dairy products, vegetables, fruits, edible oil, drinks, leather and leather products, foot wear, clothes will be traded at the new cross-border trade area.
The new cross-border trade is expected to significantly unleash business operations, discourage contraband and strengthen peace, security and people to people relations of the two countries.
Ethiopia and Kenya officially signed the Memorandum of Understanding (MoU) last April to enhance collaboration and fast-track the implementation of the AfCFTA under a Simplified Trade Regime (STR).
The agreement aims to boost cross-border trade and foster economic integration between the two neighboring countries.
The bilateral deal was formalized during a high-level meeting in Mombasa, where both governments were represented by senior officials who emphasized the importance of improving trade conditions for communities living along the Kenya-Ethiopia border, particularly in Moyale, where traders have faced persistent challenges.
The agreement marked the culmination of two years of intense negotiations and followed the third bilateral meeting between the two countries on the STR, held in Mombasa, Kenya.
(APA NEWS)
New Investment Handbook to Catalyze Private Sector Engagement in Ethiopia’s Livestock, Fisheries Sector
The Ministry of Agriculture, in collaboration with the International Livestock Research Institute (ILRI), officially launched a new Investment Handbook designed to stimulate private sector engagement within Ethiopia’s livestock and fisheries industries. This Handbook represents a key achievement in the government’s initiative to transform these sectors into robust drivers of economic growth, food and nutrition security, and sustainable employment opportunities.
Ethiopia is home to the largest livestock population in Africa, with 70.2 million cattle, 42.9 million sheep, 52.5 million goats, and 8.1 million camels. These numbers reflect enormous untapped potential in livestock and fisheries production.
The Investment Handbook outlines a wide array of viable investment options, quality standards, enabling policies, and support services tailored to Ethiopia’s unique agro-ecological context. The Handbook responds to the country’s 10-Year Agricultural Transformation Plan, which aims to substantially increase production of milk (to 28.4 billion liters), meat (1.7 million tons), eggs (5.5 billion units), chicken meat (106 thousand tons), honey (152,000 tons), and fish (260,000 tons) by 2030.
Key objectives of the Handbook include presenting a spectrum of investment opportunities in livestock and fisheries; promoting innovative and sustainable investment approaches; defining viable business models and standards; mapping institutional support structures; and attracting both domestic and foreign investors through clarity and transparency.
The government has created a strong enabling environment to attract private investment in the livestock and fisheries sectors. Key initiatives supporting investment include a robust legal framework, streamlined investment facilitation via a one-stop service, a functional movable collateral registry, access to Development Bank of Ethiopia financing, and efficient land allocation through regional governments. Furthermore, investors receive significant incentives such as income tax holidays, duty-free import of capital goods and raw materials for export-oriented industries, investment credit support, competitive land lease terms, and customs duty exemptions for development vehicles.
The Handbook targets a wide range of stakeholders including private investors, policymakers, regional and federal implementing bodies, development partners, and support institutions. It equips them with the tools and information necessary to mobilize investment, forge partnerships, and build sustainable businesses in the livestock and fisheries sub-sectors.
(Reporter)
Ethiopia secures $1.6 bn energy, minerals deals
Ethiopia secured more than $1.6 billion worth of investment deals – most of these with Chinese firms – in its energy and minerals sectors at the end of the Invest in Ethiopia High-Level Business Forum 2025, the Ministry of Finance of the East African country said in a statement.
Ethiopia is currently looking to enact reforms and boost its economy via private-led growth, including by attracting investments in its natural resources.
Last year, the country reached a deal with the International Monetary Fund (IMF) for a $3.4 billion Extended Credit Facility (ECF) arrangement to support Ethiopia’s Homegrown Economic Reform (HGER) Agenda to address macroeconomic imbalances, restore external debt sustainability, and lay the foundations for higher, inclusive, and private sector-led growth.
At the closing ceremony of the business forum in the capital city Addis Ababa, Ethiopia signed on Tuesday a number of investment deals.
China’s Huawei Mining Processing Company Limited agreed to a planned investment totaling $500 million for mineral exploration, processing, and the development of a special economic zone focused on minerals.
Sequa Mining and Processing PLC – a joint venture between Ethiopian and Chinese companies – plans about $600 million in investment to develop coal mining projects in the East African country.
Hanergy New Energy Technology Company Limited & Jandu signed a deal for a planned investment of $360 million to establish a solar cell manufacturer in Ethiopia.
Toyo Solar Manufacturing Development PLC signed an agreement to invest $14 million to further increase its Ethiopian solar cell capacity.
Additionally, Sesar Energy Advancing Solutions signed a deal for a planned investment of approximately $100 million in the first phase and an additional $150 million in the second phase to support local solar energy development.
Ethiopia is known for having deposits of coal, opal, gemstones, kaolin, iron ore, soda ash, and tantalum, but only gold is currently mined in significant quantities.
]]>The authority said that ECMAis mandated to ensure the orderly, fair, and transparent operation of Ethiopia’s emerging capital market. In the notice, the Authority reaffirmed its commitment to protecting investors and enforcing compliance with capital market regulations.
“Among those under investigation are Mr. Ermias Amelga and a company named Genesis Investment Services PLC,” the statement reads, “these investigations are being conducted in line with the principle of ‘the right to be heard’ as per the FDRE Constitution.”
It further emphasized that no securities may be publicly offered or advertised without prior approval under the Public Offering and Trading Directive No. 1030/2024. Entities must also complete formal commercial registration before applying for a capital market service provider license.
To strengthen enforcement, ECMA said it has established a dedicated law enforcement task force in cooperation with the Ministry of Trade and Regional Integration, Financial Intelligence Services, Ministry of Justice, and the Federal Police Commission. A memorandum of understanding was signed on 29 February 2024, formalizing this collaboration.
“We urge the public to verify with ECMA whether individuals and organizations claiming to be licensed… are indeed licensed by the Authority before engaging with them and making payments.”
The Authority is also calling on the public to report any individuals or companies offering unlicensed capital market services.
Ermias Amelga has had several run ins with law enforcement in the past, and was facing charges of corruptions in case by fielded by state prosecutors in January 2019. Prosecutors accused Ermias, founder of the troubled Access Real Estate S.C, of selling Imperial Hotel, which he and other shareholders once owned, at a price of 75 million birr, which the police said was an “inflated price,” charges that were terminated a year later.
(AS)
Afreximbank launches $1bn fund to bolster African film industry
The African Export-Import Bank (Afreximbank) has unveiled a one billion US dollars fund aimed at accelerating the growth of Africa’s film and television industry, in a move to capitalise on the continent’s expanding creative economy.
The Africa Film Fund, to be managed by the bank’s investment subsidiary, the Fund for Export-Development in Africa (FEDA), will provide financing across the audiovisual value chain including production, post-production, distribution, and infrastructure.
The initiative was announced on Wednesday at the Africa CEO Forum in Kigali, Rwanda, and forms part of Afreximbank’s broader Creative Africa Nexus (CANEX) programme, which supports cultural and creative sectors such as film, fashion, music and digital arts.
“Film is a cornerstone of the CANEX programme,” said Professor Benedict Oramah, president of Afreximbank and chair of FEDA. “This fund comes at a critical time, helping to unlock the sector’s growth potential by addressing longstanding challenges around funding, scale and market access.”
Africa’s film and audiovisual industries generate roughly five billion US dollars in annual revenue and employ some 5 million people, according to UNESCO. Yet the sector remains constrained by chronic underinvestment, fragmented infrastructure, and limited global reach.
Viola Davis, co-founder of JVL Media LLC and one of the few performers to have won an Emmy, Grammy, Oscar and Tony, welcomed the initiative. “African stories are deeply human and universally powerful,” she said. “This fund invites the world to view Africa through the lens of its own creators bold, unfiltered, and rich in truth.”
FEDA chief executive Marlene Ngoyi said the fund aims to crowd in private capital and support commercially viable content. “This is not merely about financing films it is about building an ecosystem that empowers Africa’s creative talent, fosters cultural exchange and drives economic transformation,” she said.
The fund was initially announced in 2024 during the CANEX Weekend in Algiers. It marks the latest in a series of moves by Afreximbank to stimulate intra-African trade and broaden the continent’s export base beyond traditional commodities.
(BirrMetrics)
Policy gaps in Ethiopia’s textile-garment sector; wage reforms needed
Industry experts, labour advocates and business leaders in Ethiopia have cautioned that unless critical policy shortcomings and the demand for introducing a national minimum wage in the domestic textile and garment industry are addressed, the sector’s growth and global competitiveness could be at risk.
At a recent roundtable organised by the Forum for Social Studies (FSS), stakeholders pointed to the government’s delayed response in tackling the acute shortage of skilled labour in the sector.
The number of skilled workers entering the industry has dropped drastically in recent years, according to Tolera Aderie, former executive member of the Ethiopian Textile and Apparel National Association. The drop is attributed to the sector’s eroding professional prestige and a tendency among employers to hire less-skilled, lower-paid workers.
The government’s continued delay in setting minimum wage limits is a major concern and is harming both workers and the sector as a whole, Tesfaye Abdisa, president of the Ethiopian Textile Federation, was cited as saying by a domestic media outlet.
The International Labour Organization (ILO) reports that the average monthly wage in Ethiopia’s textile and garment sector is just 3,000 birr (about $52), among the lowest globally. Nearly half of workers in foreign-owned garment factories have left their jobs due to inadequate pay, signaling widespread frustration and instability.
Factory managers in key production hubs such as Hawassa, Bole Lemi and Kombolcha have echoed these concerns, stating that the lack of legal wage floors makes it tough to manage their workforce and retain skilled employees.
The challenges are further compounded by high labour turnover and absenteeism.
Despite the government’s efforts to attract investment and create jobs through the establishment of 13 specialised industrial parks, policy gaps around wages and workforce development continue to cast a shadow over the sector’s future.
Outdated vocational education and training curricula, a lack of industry-relevant skills and insufficient investment in training centres have left the sector struggling to meet the demands of modern, technology-driven manufacturing.
(Fiber2fashion)
Safricom’s Ethiopia customer base jumps to 8.8 million
Kenyan telecommunication company-Safaricom has registered a strong growth in its customer base in Ethiopia, which hit 8.8 million as of March this year.
This is a 103.2 per cent year-on-year growth compared to the same period last year, with the high numbers coming less than three years since entering the market in October 2022.
Safaricom was the first private telecom operator to break the state-owned monopoly of Ethio Telecom.
This followed a license granted in 2021 to the Global Partnership for Ethiopia consortium, which includes Safaricom.
Safaricom Ethiopia has since focused on expanding its network and launching services, including mobile money services (M-PESA), whose registered customers grew by more than 68 per cent to 2.4 million.
The Mpesa value in the country during the period under review hit Sh20.6 billion, with about 164.6 million in transaction volumes.
“We had great results during a year marked by significant currency reforms,” Safaricom CEO Peter Ndegwa said.
The telco had, as of March, invested in 3,141 sites and created 898 direct jobs, of which 95 per cent were Ethiopian staff, with expats accounting for a paltry five per cent.
About 20 per cent of the group’s revenues are now coming from the Ethiopian market, with management projecting a strong performance in the market going forward, to be driven by continued currency reforms and easing inflation in the country.
(The Star)
Ethiopia plans to introduce new national car plates to fight fraud and boost security
The Ministry of Transport says the move will help tackle counterfeiting, reduce crime, and stop the misuse of public resources.The plan was announced during a nine-month performance review held by the ministry.
Officials say the existing system has several problems, including gaps in how license plates are produced, distributed, and monitored.It has also been criticised for enabling corruption and making it easier for criminals to avoid detection.
The current plate system reflects Ethiopia’s regional divisions, with each state having its own design.This often reveals a driver’s ethnic identity, something critics say has created security concerns on the road.
The Ministry says the upcoming system will use the letters “ETH” alongside Geez script, one of Ethiopia’s ancient writing systems.It will also follow international standards and include security features to prevent tampering and allow for easier inspection.
“The new system is designed to reduce the waste of government resources,” officials said, adding that raw materials used for license plates are costly to import.
The change is expected to help the government better manage these materials.
Different types of vehicles will receive different plates. For example, electric cars will have a separate design from those running on fuel, and the plates will also reflect a vehicle’s ownership and purpose.
It’s not yet clear when the new system will come into effect. But the government says the shift is part of a broader effort to modernise the transport sector.
Earlier this year, Ethiopia banned the import of fuel-powered cars in favour of electric vehicles
(msn)
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