Day: May 8, 2024

ADDIS ABABA – Today marked the launch of the National Cities Cleaning and Green Development Movement in Addis Ababa, under the banner “Cleaner Cities for Ethiopia’s Height.” The event drew high-ranking government officials, including Prosperity Party Vice President Adem Farah and Minister of Urban Development Chaltu Sani, alongside other dignitaries.

According to Ethiopian News Agency, this new national movement, which is an extension of an initiative recently launched by Prime Minister Abiy Ahmed titled “Clean Cities – Healthy Lives,” aims to enhance urban health through the establishment of modern systems for garbage management. The movement is geared towards fostering a cleaner, healthier environment for communities across the nation.

SOMALI REGION, Ethiopia – Water ministers from IGAD member countries, representatives from UN agencies, and various development partners recently toured the Tog-Wochale water supply and sanitation project in the Somali region of Ethiopia. The project, which is under construction with an investment exceeding 490 million birr, is designed to serve over 56,000 local residents.

According to Ethiopian News Agency, the visit included assessments of a multi-village drought-resistant drinking water system in Tog-Wochale town and collaborative infrastructural developments in the borderland communities of Ethiopia. During their visit, the ministers and UN representatives also initiated the Ground Water Access Facility (GaFa), a new effort to alleviate water scarcity affecting millions in the Horn of Africa. They engaged in discussions with local residents, which underscored the significance of the project to the community’s sustainable development.

AFAR – The Niin Lee Palm Spring Lodge, initiated by Prime Minister Abiy Ahmed under the “Dine for Generation” program, marks a significant step towards enhancing tourism in the Afar region. The project was officially launched on October 28, 2023.

According to Ethiopian News Agency, Chief Administrator of the region, the construction of the lodge aligns with Ethiopia’s sustainable development goals and efforts to promote peace and security. The site, known for its lush greenery, natural lake, and hot springs, is poised to become a major tourist attraction. Awol emphasized that the lodge, once completed, will catalyze a new era of tourism and agricultural revitalization in the area, benefiting the local community significantly. He also noted that the location’s proximity to Awash National Park and Falls will play a crucial role in attracting tourists and creating job opportunities. Additionally, proceeds from the sale of Prime Minister Abiy Ahmed’s book “Yemedemer Tewled” have been allocated to restore Sultan Alimirah’s historic palace and construct a school in the region.

ADDIS ABABA – A groundbreaking ceremony was held today at the Bole Lemi Industrial Park for a new company that will manufacture passports, national IDs, and other high-security printing products. The establishment, known as Toppan Gravity, represents a significant investment in Ethiopia’s security printing capabilities.

According to Ethiopian News Agency, the $55 million project will be executed in three phases. The company plans to produce a range of security-sensitive items, including ATM and MasterCard cards equipped with microchips. The foundation stone was laid in the presence of high government officials and Japan’s Ambassador to Ethiopia, Shibata Hironori.

ADDIS ABABA – The 2024 East Africa Finance Summit is set to commence tomorrow in Addis Ababa, focusing on “Exploring New Frontiers: Shaping the Future of Financial Landscape and Unlocking Opportunities for Collaboration in East Africa.” The two-day annual event will gather key stakeholders from the financial sector across the region.

According to Ethiopian News Agency, Addis Ababa University and i-Capital Africa Institute, the summit is a collaborative effort involving various organizations. Gemechu Waktola, Manager of i-Capital Africa Institute and Chairman of the coordinators committee, emphasized the summit’s role in fostering regional integration among financial institutions and facilitating the exchange of experiences within East Africa. The event aims to discuss developing investment opportunities, potential areas for collaboration, and the ongoing reforms in Ethiopia’s finance sector, including the establishment of a Capital Market.

The summit will also serve as a platform to present Ethiopia as a prime investment destination and enable networking and strategic partnerships among participants. It will address topics such as cross-border trade and investments, harmonization of financial regulations, and challenges of inclusion to enhance regional cooperation in a changing global economic landscape. Stakeholders are expected to benefit from high-level discussions on opportunities in the Ethiopian market and solutions for regional payment systems, money integration, and the creation of capital markets across the region.