Day: May 8, 2024

Addis Ababa: Water Ministers of IGAD member countries representatives of UN Agencies and various development partners along with higher government officials visited Tog-Wochale water supply and sanitation project in Somali region of Ethiopia.

The water project under construction with a cost of over 490 million birr will benefit more than 56,000 residents in the area.

The visit includes multi-village drought-resistant drinking water project in Tog-Wochale town and joint infrastructural development activities in borderland community of Ethiopia.

A brief discussion was also held with residents of borderland community in the town as part of the visit.

On Tuesday, the ministers along with UN officials launched ground water access facility (GaFa) initiative and visited various water projects in the region.

The new initiative aims at addressing the water scarcity affecting millions of people in the Horn of Africa.

Source: Ethiopian News Agency

Addis Ababa: A cornerstone for a company that manufactures passport, national ID and other security printing products was laid at the Bole Lemi Industrial Park today.

Toppan Gravity, the company to be built with a cost of 55 million USD will produce passport, national ID and similar security printing matters such as ATM cards, and Master Cards with microchips and other security printing, it was learned.

According to the Industrial Parks Development Corporation, the company will be implemented in three phases.

The foundation for the manufacturing company was laid in the presence of high government officials and Japan Ambassador to Ethiopia Shibata Hironori

Source: Ethiopian News Agency

Addis Ababa: The Niin Lee Palm Spring Lodge is one of the seven projects launched by Prime Minister Abiy Ahmed under the “Dine for Generation” program.

The project was officially launched by the prime minister on October 28, 2023.

According to Awol Arba, the construction of the Niin Lee Palm Spring Lodge demonstrates Ethiopia’s commitment to achieving sustainable development goals while promoting peace and security.

The chief administrator stated that the project’s is closely supervised by PM Abiy, stressing that the location with its lush greenery, natural lake, and hot springs holds immense tourism potential.

Upon completion, the Niin Lee Palm Spring Lodge will provide increased benefits to the local community by ushering in a new era of tourism and agricultural revitalization.

Furthermore, Awol noted that the site known for its peaceful atmosphere and fruit and vegetable cultivation holds great promise for the local economy to thrive through tourism.

The chief administrator said the project is being
constructed with careful consideration to accommodate international visitors, leveraging lessons learned from successful “Dine for Nation” projects.

Also, the project is designed with an international perspective, making it an appealing destination for both Ethiopians and international tourists.

Awol highlighted the proximity of the Niin Lee Palm Spring Lodge to the awe-inspiring Awash National Park and Falls, underscoring its pivotal role in ensuring tourists comfort and generating job opportunities for the local population.

Meanwhile, the chief administrator disclosed that proceeds from the sale of Prime Minister Abiy Ahmed’s “Yemedemer Tewled” book was used for the restoration of Sultan Alimirah’s historic palace in the regional capital Asaiita and the construction of a school.

Moreover, a secondary school built in Dubti through the First Lady’s Office effort has become fully operational.

Source: Ethiopian News Agency

Addis Ababa: The 2024 East Africa Finance Summit will be held in Addis Ababa under the theme ‘Exploring New Frontiers: Shaping the Future of Financial Landscape and Unlocking Opportunities for Collaboration in East Africa’ starting from tomorrow.

The two day annual summit will bring together various players in the financial sector in East Africa.

The Addis Ababa University and i-Capital Africa Institute have jointly organized the summit in collaboration with various organizations, it was learned.

The summit will explore developing investment opportunities as well as potential areas of collaboration for players in the sector.

i-Capital Africa Institute Manager and Chairman of the coordinators committee, Gemechu Waktola said hosting the 7th East African Financial summit in Ethiopia would provide opportunity to create regional integration among financial institutions in the region and share experiences.

The summit is pivotal to exchange views on critical challenges and opportunities related to finance, he a
dded.

The ongoing reform underway in Ethiopia’s finance sector, including the formation of Capital Market, will be discussed at the summit, the chairman stated.

The forum will also present a unique opportunity to profile Ethiopia as a premium investment destination for financial sector players in East Africa and create a platform to network and forge strategic partnerships for participants.

Gemechu further pointed out that the summit will explore and integrate regional opportunities through cross border trade and investments, harmonize financial regulations, and address inclusion challenges to forge regional collaboration in the changing global economic landscape.

Through this summit, stakeholders are expected to greatly benefit from high level discussions on opportunities in the Ethiopian market and opportunities to offer solutions in inclusion gaps, money integration, regional payment, and setting up of capital markets regionally.

Source: Ethiopian News Agency

Addis Ababa: Economist and policy advisor Costantinos Berhutesfa emphasizes the need to enhance private sector involvement in Ethiopia to expedite digital transformation and achieve a thriving digital economy.

The government’s unwavering commitment to materialize digital technology in Ethiopia is paving the way for the implementation of the “Digital Ethiopia 2025” strategy.

This comprehensive strategy aligns with indigenous economic reform, a 10-year development plan, and Africa’s digital transformation agenda.

In an exclusive interview with ENA, economist and policy advisor economist Costantinos Berhutesfa underscored the global significance of building a digital economy, a path the world is rapidly embracing.

He emphasized the pivotal role that Universities of Science and Technology must play in collaborating with the government and private sector to actualize the vision of a digital Ethiopia and disseminate technological advancements.

Costantinos commended the telecom sector’s proactive measures to dr
ive digitalization, particularly lauding the expansion of the 5G network, which currently provides a favorable foundation for this approach.

Anticipating a reliable future energy supply, he noted that Ethiopia is primed to seize substantial opportunities for technological realization.

Highlighting the importance of conducive financial policies, the establishment of a robust capital market, and strengthening of incentives for foreign investment, he emphasized that these measures would empower the youth to actively participate in economic development through creative endeavors.

Costantinos stated that effective implementation of the strategy necessitates not only government and private sector collaboration but also the active involvement of universities.

Digital Ethiopia serves as a collaborative platform, bringing together the government, private sector, and development agencies to facilitate the nation’s digital journey while aligning it with the broader continental strategy, he noted.

Costantinos expres
sed encouragement at Ethiopia’s concerted efforts to realize the strategy through developments in science, technology, and innovation sectors.

He emphasized the pivotal role of constructing a digital economy, which entails effective e-government management within the governmental system.

The strategy’s successful implementation will enable digitalization across e-commerce, research activities, and the education sector as a whole, he noted.

The economist called for strengthened efforts to realize the digital economy in Ethiopia and ensure its youth reaps the benefits of this transformative journey.

Source: Ethiopian News Agency