Browsing: Ethiopia

Power transmission lines. EAC is producing too much power. www.theexchange.africa

East African nations Kenya, Ethiopia, Rwanda, Uganda and Tanzania have been on a green energy harnessing mission creating thousands of megawatts they may not consume by the year 2022.

These countries could find themselves in a conundrum where they have too much electricity which people cannot use. This possible scenario could be created by the likelihood of not enough people being able to purchase this power or the inability to use it due to different reasons.

The biggest challenge for this power being a burden to these governments could be because most of them lack the infrastructure to transmit this power to those who need it. In addition, countries that have been purchasing power from their neighbours are also moving to produce their own meaning they will be struck by a surplus they cannot utilise and in return suffer massive costs of having idle power.

Power capacity surplus

With the

US playing catch-up to China in Africa as Pompeo visits

The visit by US Secretary of State Mike Pompeo to three African countries of Senegal, Angola, and Ethiopia is significant for the Trump administration not only as of the first trip the senior official has made to the continent, but a first for a senior official since the launch of the new strategy for Africa. The last time a senior official to visit sub-Sahara Africa was Pompeo’s predecessor, Rex Tillerson who lost his job while on a trip to Kenya.

Trump’s Africa Strategy was aimed at promoting prosperity, security, and stability in relations, and the business-friendly Prosper Africa which aims to substantially increase two-way trade and investment between the United States and Africa.

The leading issue will mainly be on security and counter-terrorism efforts mainly in the Sahel as well as the horn of Africa. Though Somalia has remained a point of discussion in terms of security, there is a …

Ethiopian Prime Minister Abiy Ahmed and Canadian Prime Minister Justin Trudeau blurred far right

Canada, the world’s second largest country and the fastest economy among G7 has set aside $10 million for developing African women, and slated potential investment agreement with Ethiopia.

The $10-million contribution is to the African Union Commission for gender equality and women empowerment.

The Canadian Prime Minister (with his first visit to Ethiopia) spent the first full day of a three-day trip to Addis Ababa meeting with some of the African Union’s heaviest performers in a series of one-on-one on the sidelines of the union’s 33rd sessional meeting in Addis Ababa.

READ:Ethiopian Airline’s CEO reveals new airport underway

Canada and Ethiopia

According to the Canadian media, Global news, Trudeau said Canada and Ethiopia are about to start negotiating a Foreign Investment Protection Agreement.

Also, the Canadian Trade Minister Mary Ng, who is in Africa with a trade delegation of Canadian companies, wouldn’t say how long those negotiations could take …

An Ethiopian Airlines plane landing. The airline’s innovations are seeing it defy loss-making trends to remain profitable in difficult times. www.theexchange.africa

Ethiopian Airlines is staying ahead of the competition and has launched a cold chain air freight for transporting temperature-sensitive medicines.…

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Ethiopian brewer to use IFC's €50m for more barley

International Finance Corporation (IFC) has unveiled an investment of up to EUR050mn in Habesha Breweries S.C. to help the company expand its operations in Ethiopia and increase local barley sourcing from smallholder farmers.

The loan is co-funded by the Dutch development bank (FMO) and Dutch banks Coöperatieve Rabobank U.A. (Rabobank) and ING Bank N.V. (ING Bank).

 Habesha was initiated by a group of local Ethiopian investors in 2009 and it has grown to be the sole supplier of inflight drinks at Ethiopian. The company is currently owned by Swinkels Family Brewers Holding N.V. (60%), 8,000 local shareholders (30%), and Linssen Participations B.V. (10%).

Ethiopia’s brewing industry is fast growing and an important contributor to economic growth, but the sector imports as much as 90 percent of its malt barley needs. In addition to the financing, IFC and FMO will help Habesha support farmers’ access to improved seed varieties and other …

The giant hydropower dam on the Blue Nile (Grand Ethiopian Renaissance Dam-GERD) agreement is set to be finalized later this month in Washington-USA by ministers from Egypt, Ethiopia, and Sudan, who came to an agreement on Wednesday, Reuters reveals.

The hydropower project caused a rather serious diplomatic crisis between Cairo (of which relies on the river for its freshwater supply) and Addis Ababa.

According to Reuters, the ministers agreed to fill the $4 billion project in stages during the wet season, taking into account the impact on downstream reservoirs, the U.S. Treasury Department, which hosted the meeting, said in a joint statement with the countries and the World Bank.

Further, the statement highlighted that the initial filling of the dam set to commence in July will aim for a level of 595 meters above sea level and early electricity generation while providing appropriate mitigation measures for Egypt and Sudan during …

The eWTP hub, the second in Africa after Rwanda, will serve as a gateway for Ethiopian products to China and new markets

The Ethiopian Prime Minister Abiy Ahmed and Alibaba Group founder Jack Ma witnessed the signing of three Memoranda of Understanding (MoU) between the Ethiopian Government and Alibaba establishing an eWTP Hub in Ethiopia.

The eWTP (electronic world trade platform) Hub is intended to enable cross-border trade, provide smart logistics and fulfillment services, assist Ethiopian small and medium-sized enterprises (SMEs) to reach China and other markets, and provide talent training.

The event was also witnessed by Alibaba Group Director and Ant Financial Services Group Chairman and CEO Eric Jing. Ethiopia aims to build a dynamic and growing digital economy that contributes significantly to overall economic growth in the country.

eWTP is an Alibaba-led multi-stakeholder global initiative promoting public-private dialogue in order to support more inclusive global trade which uses technology and policy innovation to provide greater opportunities for SMEs, women and youth.

Ethiopia is the second country in Africa to establish …

IFAD targets Ethiopia's families affected by Climate Change

Ethiopia’s most vulnerable families are set to benefit from a new US$451 million project to increase their resilience to climate shocks in the country’s poorest regions.

A financing agreement for the Lowlands Livelihood Resilience Project was signed today by Gilbert F. Houngbo, President of the International Fund for Agricultural Development (IFAD) and Zenebu Tadesse Woldetsadik, Ambassador, Permanent Representative of the Federal Democratic Republic of Ethiopia to the United Nations Food and Agriculture Agencies in Rome.

The funding includes a $90 million loan from IFAD and $350 million in co-financing from the International Development Association (80 per cent loan and 20 per cent grant) and $11million from the beneficiaries themselves.

The project, primarily designed to help achieve Sustainable Development Goals 1 and 2 (eradicating poverty and hunger) will install small-scale irrigation technology to reduce dependence on erratic rains. It will also help smallholder farmers to invest in research systems for faster …

Mastercard foundation to help create 10 million jobs in Ethiopia

Mastercard Foundation plans to help Ethiopia government create over 10 million jobs for the young generation over the coming ten years.

This follows the Mastercard Foundation launch of Young Africa Works in Ethiopia a $300 million initiative which aims at creating employment opportunities for the youth in partnership with Ethiopia’s Jobs Creation Commission (JCC).

The Young Africa Works in Ethiopia is aligned with the Ethiopian government’s plan to create new jobs to spur economic growth. The initiative was designed in partnership with the government, the private sector, academic institutions and young people.

Mastercard Foundation will work with JCC to create programs to speed up growth in the tourism, agriculture, manufacturing, and ICT sectors. The programs will support small and medium-sized businesses and entrepreneurs in achieving greater productivity and expand income-generating opportunities.

“Ethiopia’s prosperity will be achieved when we individually achieve our full potential first. Creating jobs for all, particularly, youth …

Exploring how AfCFTA can avail cheaper medicines for Africa

A high-level meeting of policymakers, regulators and industry experts in the field of pharmaceuticals and trade has discussed a bold path towards affordable pharmaceuticals through leveraging the African Continental Free Trade Area.  The Continent is home to 11% of the world’s population yet it carries 25% of the world’s burden of disease.

If implemented, pooling procurement of essential drugs and products and expanding local pharmaceutical production on the continent is seen as a critical pathway to the prosperity of African citizens, thereby achieving universal healthcare in Africa.

Executive Secretary of the Economic Commission for Africa Vera Songwe told the meeting that 50 % of all children who die before the age of 5 in the world are in Africa. “We cannot build a prosperous Africa if we have such a high mortality rate. The pharma initiative seeks to reduce costs and increase healthcare access.”

“The tragedy is that these diseases …