Samson Berhane – The Reporter Ethiopia https://www.thereporterethiopia.com Get all the Latest Ethiopian News Today Fri, 07 Feb 2025 11:24:22 +0000 en-US hourly 1 https://www.thereporterethiopia.com/wp-content/uploads/2022/03/cropped-vbvb-32x32.png Samson Berhane – The Reporter Ethiopia https://www.thereporterethiopia.com 32 32 Safety stuck on floor 1: Addis’ neglected elevators https://www.thereporterethiopia.com/40739/ Sat, 22 Jun 2024 07:27:30 +0000 https://www.thereporterethiopia.com/?p=40739 Before properly looking at how elevators in neighboring countries are regulated, it always left me wondering why elevators in Ethiopia seemed to be left unregulated. The state of elevator safety standards in Addis Ababa is concerning. It’s common to find elevators that get stuck seemingly every time you take them. They clearly are not maintained well and do not seem to adhere to any regular safety inspections.

I still remember vividly the first time I took an elevator here in Addis Ababa a few years ago. As the metal doors slid closed and it began its ascent, a horrific grinding and groaning sound filled the small interior. The entire contraption seemed on the verge of collapse. My heart was pounding as I prayed it would not break down between floors, leaving me trapped inside. When the doors finally jerked open on my floor, I rushed out as fast as possible, swearing to never take that death trap again.

Since that frightening experience, I have avoided elevators here in Addis whenever possible, choosing to take the stairs instead no matter how many flights. But for those with physical limitations or heavy packages, the elevators are often the only option for vertical travel in these rapidly growing high-rise buildings. Yet the state of disrepair and lack of safety standards continue to endanger lives. As more construction projects add additional elevators throughout the city, proper regulation and oversight is urgently needed but seemingly non-existent.

In neighboring Nairobi, Kenya, the situation is quite different. Their buildings require regular inspections and certification proving elevators are fit for safe use by the public. A large sign is posted at the entrance informing of the date of the last audit and safety verification. Repairs are addressed promptly to avoid lapses in compliance. Penalties exist to incentivize maintenance and deter reckless endangerment of passengers. These reasonable standards protect Kenyan citizens and establish trust that time spent inside a lift will not end in catastrophe.

Why have similar protocols not been enacted here? Ethiopia is developing rapidly but cannot continue to neglect regulations that directly impact human life. Updates to elevator infrastructure must occur concurrently with construction booms. Officials must be held accountable for passenger welfare, not just occupancy permits and tax revenue from new developments. A certification process administered by qualified technicians would verify equipment is functioning properly and address any issues before further deterioration. Standard operating procedures should mandate routine maintenance schedules, emergency response plans, and staff training. Surprise inspections could catch unscrupulous building managers skimping on safety to save money.

Accidents are inevitable without prudent foresight. It is only a matter of time before a tragic incident like entrapment or cable failure makes headlines, leading to public outrage that these hazards were overlooked for so long. By then it will be too late and lives already lost. A proactive, preventative approach is superior to reactive band aids after avoidable tragedies. The potential costs of inaction are too severe to ignore regulatory reforms any longer.

Most developed nations learned these lessons decades ago after several high-profile elevator accidents spurred safer protocols. While resources and infrastructure are scarcer in a developing country, simple administrative controls need not break the budget. Licensing technicians, publishing codes of practice, and designating an auditing body are low-cost solutions yielding proportionally large protective impacts. Citizens deserve basic safeguards whether riding elevators in New York or Addis Ababa. International best practices need not be reinvented from scratch but adapted to Ethiopia’s means.

If officials truly care about public welfare, transportation safety should be a priority, not an afterthought. The threat elevators currently pose must be addressed through establishment of a regulatory framework and enforcement body without further delay. With investment in preventative maintenance and inspections now, countless injuries and lives could be spared down the line.

Neighboring Kenya proves regulatory oversight has positive effects without undue burden. It is past time for Ethiopia to learn from their example and acknowledge elevator management cannot continue without standards and accountability. Passenger safety must come before bureaucratic inertia and laissez-faire approaches endangering human life. Proper regulation is badly needed and regulators must be held responsible if problems persist without action.

Samson Berhane is an economics graduate with expertise in business and economic reporting and communications. He can be reached at samsonberhane31@gmail.com. The views expressed in this article are his own and do not represent the opinions of the institutions he is affiliated with nor that of The Reporter.

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Ethiopia’s Authentic South https://www.thereporterethiopia.com/39714/ Sat, 20 Apr 2024 07:20:42 +0000 https://www.thereporterethiopia.com/?p=39714 A work trip turns into an unexpected cultural adventure in Arbaminch and Konso

It was a Thursday morning when my work travel began. I had an important meeting to attend in Arbaminch but also hoped to take some time to explore the beautiful natural scenery and cultural sights in the surrounding areas. I arrived at Addis Ababa Bole International Airport two hours before my domestic flight, as recommended, to allow plenty of time. However, my experience showed that the local terminal moves much quicker than anticipated.

Ethiopia's Authentic South | The Reporter | #1 Latest Ethiopian News TodayEthiopia's Authentic South | The Reporter | #1 Latest Ethiopian News Today

I was surprised by how efficient the check-in and security processes were. Within 30 minutes, I had passed through and was relaxing in the gate area with over an hour until boarding. This was a marked difference from the bustling scenes usually encountered in international terminals. While the service was faster, I noticed a lack of amenity stores or cafes where passengers could spend time pre-flight. For domestic routes, even a small convenience store or cafe would help passengers feel more comfortable as they wait.

My Ethiopian Airlines flight soon arrived, operated by one of their Bombardier jets. Boarding was smooth and the onboard service kindly attended to passengers’ needs. However, I found the snack and beverage options to be quite limited. As an hour-long journey, more variety would have been appreciated. Regardless, we touched down on time in Arbaminch about an hour after departure.

The weather in Arbaminch was similar to Addis Ababa but with slightly higher humidity. Coming from the highlands, I found staying in my room without air conditioning to be uncomfortably warm. After checking into my hotel, I spent the afternoon engrossed in meetings for work. But I was eager to begin exploring this scenic lakeside town in my spare time over the weekend.

On Saturday, my culinary exploration of Arbaminch began. Known as the “City of 40 Rivers” due to its position surrounded by lakes, fresh fish is a feature of the local diet. I enjoyed a lunch of tasty, largesized lake fish prepared with distinctive regional flavors. The presentations and dining atmospheres also differed pleasantly from what I was used to in the capital.

Full from the fresh seafood, I then headed to a nearby crocodile ranch a short drive outside the city. Dozens of Nile crocodiles of varying sizes, from babies only a few years old up to specimens over 40 years, were being bred on the grounds for tourism and commercial purposes. Wandering the open-air enclosures, I observed the impressive reptiles basking in the sun or lurking menacingly in the water. While the ranch provided an educational experience, amenities for visitors were sparse. More facilities would enhance the experience for tourists.

That evening, I explored Arbaminch’s nightlife by visiting a cultural restaurant frequented by both locals and international guests. The service and ambiance were enjoyable, though I had hoped to experience more live music featuring the indigenous Gamo peoples’ songs. Instead, Amharic hits dominated the playlists. Overall, the nightlife scene seemed rather subdued for a touristic town. More vibrant nightclub options could draw in more energetic travelers.

The following day, wanting to expand my Ethiopian trip beyond Arbaminch, I joined colleagues on an excursion south to the UNESCO World Heritage site of Konso. The three-hour drive took us through scenic countryside dotted with small villages and farms growing “false banana” plants called enset. Rolling hills gradually gave way to denuded stepped terrain characteristic of the Konso lands as we approached our destination.

Our first stop was Karat, the capital town of Konso Zone. Unlike many highland towns, Karat had a somber atmosphere with few people out and about. Small shops sold used shoes imported from abroad, a common sight across Ethiopia’s secondary cities. From Karat, a two kilometer gravel road led to our destination – the Konso Cultural Landscape.

Stepping inside the protected area, the signature terraced farmlands came into view. Layered stone walls carved the landscape into a patchwork of small plots ideal for dryland cultivation. Our local guide introduced us to the lived-in open-air museum that is Gesergiyo Village, locally referred to as “New York” for its staggering arrangement of thatched dwellings stacked several stories tall.

The village known as “New York” also has a fascinating story behind its moniker. According to local lore, a tourist visiting Konso was astounded by the towering stacked dwellings accumulating up the hillside. In a broken attempts to describe these stacked stone structures to his Konso guide, the tourist repeatedly exclaimed “New Work!”

However, his Konso companions struggled to understand the foreign phrases and picked out only the word “York.” Over time, through repetition and the effects of translation/translation, the name became assimilated into the local language as “New York” instead of “New Work” as the tourist had intended.

As our guide led us through the alleys between the towering structures, another unique aspect of life in this village became apparent. At every turn, smiling children could be seen peering from huts, sitting on rocks, or playing nearby. Without fail, each and every one of them would greet us with a cheery “Hello” as we passed by. While some asked for money, others simply said hello.

Deeper within the village, we came upon Dekatu, the sacred site where communities traditionally gather. Ancient wood carvings and sculptures bearing Konso symbols spoke to the strong cultural traditions passed down through generations. Though tourism infrastructure was still developing, it was clear this was a place preserving remarkable cultural heritage.

Overall, my travels to the south opened my eyes to diverse scenery, cuisine, and folkways outside of Addis Ababa. Both Arbaminch and Konso boasted magnificent natural environments and insights into ethnic groups like the Gamo and Konso. However, both destinations could also benefit from improved facilities to make the most of their tourism potential. Basic amenities, from clean public restrooms to vibrant nightlife, would enhance visitors’ experiences. With sensitive development, these places could attract more sustainable cultural tourism to appreciate their special qualities long into the future.

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Insuring Africa’s growth, de-risking the development path https://www.thereporterethiopia.com/36685/ Sat, 23 Sep 2023 08:40:08 +0000 https://www.thereporterethiopia.com/?p=36685 Manuel Moses, Chief Executive Officer of the African Trade & Investment Development Insurance (ATIDI), has a distinguished career spanning over 25 years working in finance, banking, insurance and investment across Africa and internationally.

Prior to his appointment as ATIDI CEO in 2020, he spent 15 years at the International Finance Corporation, culminating as Country Manager for East Africa. Moses also holds previous senior roles at organizations such as the Eastern and Southern African Trade and Development Bank, Commercial Bank of Zimbabwe, and Zimbabwe Development Bank.

Holding an MBA in Finance from the University of Leicester and a BSc in Civil Engineering from the University of Zimbabwe, Moses is also an associate member of the UK’s Chartered Institute of Management Accountants. The Reporter’s Samson Berhane recently sat down for a video interview with Moses, as he explored ATIDI’s mission of promoting investment across Africa, including in Ethiopia.

We have a lot of conventional insurance companies across Africa, including in Ethiopia. What differs the African Trade & Investment Development Insurance (ATIDI) from these? Is ATIDI’s business model different?

Let me give you a simple example. The traditional insurances give you coverage for your life, if anything happens to you. They also insure your house or car. We call all of that property and casualty. That is the traditional insurance business. ATIDI’s type of client is not in a personal capacity. ATIDI insures investments against unforeseen political decisions. Governments may change policies or something might happen which might impact investors. In this regard, there was a need to find a third party neutral organization that gives assurance when governments come up with new policy changes. Having that enables you to put a claim towards an insurance organization and that was why ATIDI was formed. ATIDI signs concessional contracts with governments and it should be understood that ATIDI is not displacing the conventional insurance companies. ATIDI works with reinsurance companies. The type of reinsurance companies ATIDI works with are international. If ATIDI gives USD 100 million, ATIDI may keep USD 10 million and transfer the USD 90 million risk to reinsurers. In the last fiscal year, ATIDI provided eight billion dollars in coverage while retaining one billion dollar of risk on its own balance sheet, transferring seven billion dollars of risk to reinsurers. ATIDI’s typical clients are usually banks and investors.

One of the reasons ATIDI was set up is said to attract investment and create an enabling environment by giving assurance. What have you achieved in this regard?

You see a lot of foreign direct investment coming to Africa through us. But not everything; our cumulative coverage amount reached USD 78 billion until the end of 2022. We have achieved our dream. Member countries including Ethiopia have benefited from such support. This is a pan-African organization and membership is open to everyone. Countries need to go through a rigorous process to subscribe to ATIDI.

Why is it difficult to subscribe to your organization as an investor?

Joining our organization is quite a long process. It involves parliament and ratification by member governments. The idea was that all African countries are eligible to join. From day one, we have invited all African countries. But the process was long. Some governments were expected to meet some financial obligations to join at the beginning, but they struggled to meet their commitment. Today, we have 21 countries that have joined as shareholders. Ethiopia is one of them. We expect other African countries to join too. In 2027, we targeted getting 10 more African member countries. Since Ethiopia joined, we have provided three billion dollars in investment coverage over the last four years. We believe that we are filling a gap in this regard.

Of course, we want to do more. Our ambition is to double our capital from half a billion dollars until 2027. We want to increase our coverage from eight billion dollars to USD 11 billion. The last country that joined was Angola. We have a good credit rating status – it is stable at A+++. Such a rating gives assurance that we are ready to provide coverage for investors if things go wrong. Just to give an example, our rating from the same organization is much better than member countries’. You can look at Ethiopia’s rating and understand the gap that we are filling. Some things we need to do are make ourselves more relevant. For instance, COVID showed us that we need to work in a more flexible way and be ready for any circumstance. We are also sensitive to climate threats. It is an existential threat to all mankind. We are also responding by introducing products that could contribute to addressing the climate situation. We are also providing products that help independent power producers generate power from wind, solar, and geothermal. If things go wrong, they can rely on us for coverage if they buy our product. The money we use to provide coverage comes from the governments themselves. So we are truly a public-private partnership. By identifying gaps, we are responding to ensure Africa is not perceived as high-risk.

If there is anything first on the list among roadblocks for investment, political risk comes at the top. What ATIDI does in ensuring that investing under political uncertainty is possible by providing guarantees to investors?

You can go across Africa and find many types of political risks. In West Africa, there are coups. In the Horn of Africa, there is a threat of terrorism and instability. So because of these reasons, investors are wary of investing their money. Yet we are filling the gap. If you look at our three billion dollars portfolio in Ethiopia, it is clear that the investors would not have come if we had not supported them. Another example is that if you look at the largest investment in Africa, it was the Safaricom deal. That was the largest investment made on the whole continent. Our support in the consortium was that they would go ahead with the investment and we guarantee you in case of any unforeseen circumstance, even under political risk.

How affordable are your products?

Our premium is very small. Let’s say it is a $100 million investment. What we get is probably one percent of that as a premium.

You said ATIDI has provided three billion dollars in insurance coverage for Ethiopia. Is that the premium that you have written or total coverage?

It is the latter. It is the amount of investment that we guaranteed.

Have you paid any claims in Ethiopia?

We have not paid any claims. We want to keep it that way. That is the promise that we want to make investors who think there is a risk, yet our zero claims prove otherwise. We are not as risky as they think.

Can we say there is a misperception about the risk in the Horn of Africa if there have been no claims?

That is our challenge. We don’t have many claims and that shows it is just a perception. We have to be creative in addressing misperceptions.

Climate change is a big issue in Africa and is making the key segments of African states’ economies, the agriculture sector, unsustainable for growth.

Yes, it is being faced by everyone on the continent. We have seen in the Horn of Africa drought for four consecutive periods. In Southern Africa, they are facing more than usual rainfall. Malawi and Durban were destroyed by floods. Africans are feeling the impacts of climate change. At the recent Nairobi meeting, we discussed how to address this by introducing a loss and damage fund, which would enable states to be more resilient to unforeseen climate hazards. Understanding climate change, we are also supporting green solutions. Africa needs to grow but in a green way.

Lastly, I wanted to ask how the insurance sector remains underdeveloped in Africa, even worse in Ethiopia, where there is low insurance penetration. What would you advise for such countries with low insurance penetration to show improvement?

It’s not just Ethiopia. The most advanced country on the continent is South Africa, where insurance penetration is just 20 percent. Even that is very low. It is a problem across the continent. What you have witnessed is insurance penetration grows with an increase in disposable income. A simple example, if you have one dollar, would you buy food or insurance? Obviously, food is what you buy. So income has to increase. Insurance penetration depends on the level of disposable income. The unique thing about African states is that they need to open up the sector. The market needs to be competitive. It has to be opened up.

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New year, new divides https://www.thereporterethiopia.com/36576/ Sat, 16 Sep 2023 06:30:01 +0000 https://www.thereporterethiopia.com/?p=36576 Exorbitant drink upcharges undermine Ethiopia’s new year traditions, community bonds

The air was filled with excitement and anticipation as the sun began to set on the eve of Ethiopia’s New Year. While most of the world celebrated September 12th as an ordinary Tuesday, for Ethiopians it marked the beginning of a special holiday and the dawn of a new year according to their ancient calendar.

All across the capital city, households buzzed with activity as families worked diligently in their kitchens, preparing delicious traditional foods that would be shared with loved ones the following day. The mouthwatering scents of Doro Watt, a local stew made from chicken, and Habesha Dabo, big bread made from wheat, wafted through open windows. Children assisting their parents would sneak bites, savoring the tastes that signaled renewal and hope for what the new year may bring.

As darkness fell, the streets began to come alive with lights and laughter. Proud families showed off their finest clothes and shone brightest smiles, full of pride and spirit for their culture. Excited children ran door to door, their new shoes scarcely broken in, eager to see cousins and play with neighborhood friends. Travelers crowded bus and taxi stations, carefully packing delicacies in woven baskets to share during long journeys to visit grandparents, siblings and other extended family in distant villages.  

Meanwhile, those who remained in the city gathered around televisions and radios to watch special New Year’s Eve programs on local stations. Singers belted out patriotic songs and poets recited verses celebrating Ethiopia’s rich history and values of community. In cafes and town squares, the night life was just beginning as people of all ages socialized and reminisced about years past, bonding over their shared heritage and anticipation of the joys the next day would surely bring. As midnight drew closer, the capital came alive with music, dancing and beams of good cheer to usher in the new year.

Just minutes before midnight, the excitement in the capital reached a fever pitch. At a bar in front of Bole Millennium Hall, renowned singer Betelhem Shefredin was receiving well-wishers, shaking hands and offering greetings for the new year. As the countdown approached, she made her way onto the small stage to treat the crowd to something special.

“Happy New Year to all!” Betelhem announced to cheers and applause. Without further delay, she launched seamlessly into a rendition of “Eyoha Abebaye,” the iconic song made famous by the legendary singer Aster Awoke and synonymous with Ethiopia’s New Year celebrations.

When the last notes faded, the countdown began in earnest. “54…321!” Chants of “Abebayosh!” rang out throughout the festive assemblage as the clock struck midnight. For Ethiopians gathered here and across the homeland, the new year had officially begun as songs, dances and old traditions continued well into the morning light. The soul of the nation was fully alive and renewed, embracing all the promise a fresh beginning could hold.

While the festivities swirled within the heart of the city, the sense of celebration was not universally shared. For many facing economic hardship on the margins of society, there were few reasons to mark the occasion with joy.

At establishments like the bar hosting Betelhem Shefredin’s performance, exclusionary policies shut out those without means. Anyone wishing to attend the live music and join in community was effectively compelled to purchase alcohol. Even ordering a modest soda or water was an unthinkable expense, deemed too “unprofitable” by proprietors eager to maximize earnings on the holiday.

After 11pm, beer—usually an affordable indulgence—was no longer offered, encouraging binge drinking and higher food/beverage minimums that shut out many. For the masses struggling to afford basic needs, simply enjoying an evening in the company of others was increasingly out of reach.

When alcohol was permitted to be served, prices soared to take advantage of patrons celebrating without concern for cost. At Betelhem’s venue, a single unit of the cheapest beer was priced at 400 birr—a staggering ten times the standard retail value found in stores the rest of the year.

While festivities centered around Bole, the spirit of celebration also took hold in other neighborhoods such as Wollo Sefer. At Wube Bereha, a popular live music lounge, the crowds had gathered for a special performance by acclaimed artist Mesfin Shiferaw.

Renowned for his soulful interpretations of songs made famous by Mohammed Ahmed, Mesfin’s voice had completely captivated attendees. Within the venue, a mood of camaraderie and shared cultural heritage reigned supreme.

However, gaining entry to enjoy such experiences came at a significant cost, demonstrating how inequitably these traditions had become monetized across different classes. At Wube Bereha – like other establishments seeking maximum profit – only alcoholic beverages were offered to patrons wishing to take part.

Moreover, drink prices had been inflated exorbitantly from standard rates. A regular one litre bottle of Gordon gin that usually retailed for around 3000 birr was sold for a staggering 8000 birr inside the club – nearly triple the value.

While the performers, atmosphere and community spirit held value, these economic barriers prevented many residents of Wollo Sefer and beyond from partaking in the full spirit of their own cultural celebrations. The rising tide of commercialization had widened the gap between those who could revel without concern, and those for whom price alone remained the exclusion.

Yet as the sun rose on another year, the astronomical prices left many feeling excluded from their own cultural rites. Only time will tell if establishments can balance business interests with Ethiopians’ fundamental right to community sans financial barriers. For now, the future of these treasured traditions appears as uncertain as citizens’ bank accounts.

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Ethiopia completes fourth filling of Grand Ethiopian Renaissance Dam https://www.thereporterethiopia.com/36438/ Sun, 10 Sep 2023 07:09:43 +0000 https://www.thereporterethiopia.com/?p=36438 Ethiopian Prime Minister Abiy Ahmed announced today the successful completion of the fourth and final filling of the Grand Ethiopian Renaissance Dam (GERD), marking a major milestone for the Horn of African country in its effort to satisfy the power needs of its over 120 million people.

In a social media post, PM Abiy congratulated all Ethiopians who contributed to the massive hydroelectric project through their financial support, expertise, labor, and prayers. He said the cooperation shown in building the dam should be a model for other national endeavors.

The GERD is Africa’s largest hydropower plant and has been a source of regional tension due to disagreements with downstream countries Egypt and Sudan over how it is filled and operated. PM Abiy acknowledged the project faced numerous challenges, both domestic pressures and international pressures.

However, he stated that through unity and perseverance, Ethiopia was able to overcome all obstacles and achieve its goal. While marking an important step, the Prime Minister noted that work on the dam is not finished and pledged Ethiopia will continue supporting the project until completion.

“We have reached the top of the hill, not the end of the hill,” he said.

Negotiations over the operations and filling of the dam were held last month in Cairo, with the next round planned to happen in Addis Ababa this month.

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Domestic fuels 7% up to account for escalating international oil benchmarks https://www.thereporterethiopia.com/36211/ Tue, 29 Aug 2023 19:16:14 +0000 https://www.thereporterethiopia.com/?p=36211 Consumers and businesses will pay an average of seven percent more at the pump, as Ethiopia adjusts domestic fuel prices amid ongoing volatility in global energy markets.

The Ministry of Trade and Regional Integration said the price hikes, effective as of tomorrow, were necessary to keep local rates in line with crude oil benchmarks.

In 2022, the average OPEC oil price hit USD 100.08 per barrel, though as of August 29 it had fallen to USD 84 – still elevated from pre-pandemic levels, according to Trading Economics.

In a statement issued on Tuesday, the Ministry of Trade & Regional Integration outlined price hikes averaging seven percent for five main petroleum products.

Benzene saw a 7.8 percent increase and is now 74.85 birr per liter, diesel and heavy black diesel prices jumped by eight percent to 76.85 birr and 61.07 birr per liter respectively, jet fuel prices rose 4.95 percent to 68.58 birr per liter, while light black diesel increased 7.33 percent to 62.22 birr per liter.

According to a statement by the Trade Ministry, globally, the price of crude oil which was previously USD 75 per barrel, increased from USD 86 per barrel. At the same time, the Ministry noted that the price of one barrel of diesel rose from USD 88.80 to USD 120.

However, as the Ministry reported, only 50 percent of this price increase was passed on to consumers through higher fuel prices, while the government subsidized the remaining 50 percent through subsidies. This helped cushion the impact of the global rise in oil prices and prevented the full effect being transferred to domestic consumers as analyzed by the Ministry.

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UK, Dutch financiers channel $40m through Dashen to cultivate underfunded agriculture https://www.thereporterethiopia.com/36209/ Tue, 29 Aug 2023 17:39:42 +0000 https://www.thereporterethiopia.com/?p=36209 British International Investment (BII) and FMO, the Dutch Entrepreneurial Development Bank, have jointly committed up to USD 20 million each to Dashen Bank, one of Ethiopia’s largest private banks.

The USD 40 million loan aims to drive agricultural exports and provide much-needed foreign exchange in Ethiopia. BII and FMO are supporting Dashen Bank to bolster the country’s agriculture sector, which employs 80 percent of the population and contributes 39 percent to GDP.

“We are pleased for achieving this historic milestone,” said Asfaw Alemu, CEO of Dashen Bank. “The forex denominated financing will enable Dashen Bank to support export-oriented agribusinesses.”

By providing capital for machinery imports, the facility will help “farmers increase productivity and boost exports earnings.” It is also expected to support business growth and innovation in flower, coffee and livestock industries.

“We are proud to be amongst the first movers in a financial market opening up to international investment with this transformative commitment,” said Stephen Priestley of BII.

The commitment makes BII and FMO among the first foreign institutions to provide long-term funding under Ethiopia’s bank intermediation directive issued in 2021.

“On top of the badly needed foreign currency, the lessons learnt through the rigorous due diligence process will help us set the bar high when it comes to sustainable financing in Ethiopia,” Asfaw added.

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Tripartite dam talks conclude with next round planned for September https://www.thereporterethiopia.com/36206/ Tue, 29 Aug 2023 15:45:17 +0000 https://www.thereporterethiopia.com/?p=36206 The latest rounds of tripartite negotiations between Ethiopia, Egypt, and Sudan over filling and operating the Grand Ethiopian Renaissance Dam (GERD) concluded yesterday in Cairo, Egypt, with another round planned for September 2023 in Addis Ababa, Ethiopia. During the two-day talks, the countries focused on resolving outstanding issues related to the filling of the dam reservoir and its future annual operation.

Ethiopia’s lead negotiator Sileshi Bekele posted on X(Formerly Twitter) that some progress was made. “We have discussed several clauses and continue negotiations to reach a full agreement,” he said, though he did not provide specifics on potential agreements or remaining differences.

“Ethiopia negotiates in good faith, where great benefit of the GERD to Ethiopians is realized, cooperation among our riparian states is enhanced based on principles that ensure fair and reasonable use of Nile water in the future,” Sileshi added.

The construction of the GERD on the Blue Nile has increased tensions between Ethiopia and downstream nations Egypt and Sudan concerned about their water supplies. For years, the three countries have engaged in intermittent negotiations brokered by the African Union to reach a deal on filling and operation of the massive hydropower dam project.

However, key issues around the timeline for reservoir filling and handling drought conditions remained unsolved. The next round of negotiations is scheduled for September in Addis Ababa, where discussions will continue towards an agreement that satisfies Ethiopia’s interest in dam development while also addressing neighbors’ concerns about their water needs.

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Prime Minister Abiy Ahmed : Ethiopia granted 1-year waiver on Chinese debt https://www.thereporterethiopia.com/36107/ Thu, 24 Aug 2023 15:14:38 +0000 https://www.thereporterethiopia.com/?p=36107 Prime Minister Abiy Ahmed (PhD) announced that Ethiopia has been granted a one-year grace period for debt repayments to China. This comes as the country works to finalize the restructuring of its debts.

In discussions with Chinese President Xi Jinping, Ethiopia was given a one year postponement of repayments until the restructuring process is complete, according to PM Abiy. He called it a “big achievement” for the country.

The Prime Minister revealed the development at the sidelines of the 2023 BRICS summit in Johannesburg, South Africa. Ethiopia was one of six nations, along with Saudi Arabia, Iran, Argentina and the United Arab Emirates, accepted into the BRICS group, which also includes nations like Algeria and Nigeria seeking to join.

Prime Minister Abiy Ahmed : Ethiopia granted 1-year waiver on Chinese debt | The Reporter | #1 Latest Ethiopian News Today

The one-year grace period will provide Ethiopia financial breathing room as it deals with its debt obligations to China. PM Abiy said he secured the relief following discussions with President Xi on the sidelines of the summit.

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Saudi border guards committed “crimes against humanity” in mass killings of Ethiopian migrants https://www.thereporterethiopia.com/36085/ Mon, 21 Aug 2023 09:06:06 +0000 https://www.thereporterethiopia.com/?p=36085 Evidence supports claims of Saudi guards asking migrants “which limb to shoot” before execution.

A new report by Human Rights Watch has alleged that Saudi border guards have killed hundreds of Ethiopian migrants and asylum seekers trying to cross the Yemen-Saudi border between March 2022 and June 2023.

The rights group says the killings may amount to crimes against humanity if committed as part of a Saudi government policy.

The 73-page report, titled “‘They Fired on Us Like Rain’: Saudi Arabian Mass Killings of Ethiopian Migrants at the Yemen-Saudi Border,” documents interviews with 42 people including survivors and witnesses, as well as analysis of over 350 videos and photos.

Rights Watch researcher Nadia Hardman said “Saudi officials are killing hundreds of migrants and asylum seekers in this remote border area out of view of the rest of the world.”

The report quoted one survivor saying “First I was eating with people and then they were dying. There are some people who you cannot identify because their bodies are thrown everywhere. Some people were torn in half.”

The report alleges that Saudi border guards used explosive weapons and gunfire to kill many migrants attempting to cross, including “many women and children.” In some cases, guards reportedly asked migrants “what limb to shoot” before shooting them at close range.

Forensic experts consulted by Human Rights Watch concluded some injuries were “consistent with the explosion of munitions” and others showed “characteristics consistent with gunshot wounds.”

Rights Watch is calling on Saudi authorities to end any policy of using lethal force on migrants. It also urges international pressure and sanctions against Saudi and Houthi officials implicated in ongoing abuses. The group says a UN investigation is needed to assess the scale of alleged crimes.

“Saudi border guards knew or should have known they were firing on unarmed civilians,” Hardman, the researcher, said. “If there is no justice for what appear to be serious crimes against Ethiopian migrants and asylum seekers, it will only fuel further killings and abuses.”

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