Addis Ababa, October 24, 2024 (FBC) – Ethiopia’s digital economy could add over ETB 1.3 trillion to GDP by 2028, according to the GSMA’s new report, Driving Digital Transformation of the Economy in Ethiopia.

Note that GSMA, in collaboration with Ethio telecom, launched the Ethiopia Digital Economy Report on Thursday which explores key insights into the East African nation’s digital transformation journey and highlights opportunities and challenges in building a robust digital economy.

In a press release sent to FBC, GSMA stated that the report highlights how telecom reforms and investments in mobile technology are catalysing growth in key sectors such as agriculture, manufacturing, and public services. These advancements are expected to create over 1 million new jobs and generate an additional ETB 57 billion in tax revenues by 2028.

Addis Ababa, October 24, 2024 (FBC) – The renovated African Hall in Addis Ababa will serve as key research center and tourism destination, showcasing Africa’s rich history and diverse art, according to architects.

It is to be recalled that Prime Minister Abiy Ahmed and UN Secretary General António Guterres inaugurated African hall this week, a landmark of liberation and a symbol of Pan-African unity.

A discussion on Africa Hall’s role in Ethiopia’s architectural landscape took place at the newly renovated venue today.

Habtamu Getachew, President of the Architects Association told local news agency ENA that the renovation of Africa Hall has transformed it into a prime destination for many African countries and beyond, serving as hub for visit and research. He added that its rich history serves as a tribute to all Africans.

Addis Ababa, October 21, 2024 (FBC) – Ethiopia has organized police force (Coastal Guard) to prevent crimes on water, local news agency ENA reported on Sunday, citing Chief Commissioner of Federal Police, General Demelash Gebre-Michael.

Commissioner General Demelash Gebre-Michael revealed this at a recognition and award program for police officers and members who achieved better performance in the field of crime prevention in the 2023/24 Ethiopian Fiscal Year.

The police service on boats is essential to prevent crimes on water, he stated.

Therefore, based on experience and research from developed countries, a police force (Coastal Guard) has been organized to prevent crimes on water, Com.-Gen. Demelash explained.

Addis Ababa, October 21, 2024 (FBC) – Ethiopia’s right to access direct maritime seaport is a legitimate call through legal frameworks to facilitate the country’s overall economic development, a distinguished Congolese law professor at University of Lubumbashi said.

Speaking to local newswire service ENA, Professor Joseph Yav who is also Pan African Lawyers Union (PALU) Life-time member & Commercial Law Committee Co-Chair said Ethiopia’s ongoing quest for having access to seaport is acceptable.

Given its geographical, historical, economic backgrounds, Ethiopia has initiated discussions to secure sea outlet based on the principle of mutual benefits and partnership that provide amicable opportunities to strengthen shared development.

Addis Ababa, October 19, 2024 (FBC) – The International Space University based in France has pledged to establish a virtual campus in Ethiopia, as announced by the Ministry of Innovation and Technology (MoIT).

This commitment was made during a meeting between Ethiopia’s Minister of State for Innovation and Technology, Yishak Alemayehu, and various stakeholders in the field of space science during the 75th International Astronautical Congress in Milan, Italy.

In this regard, Mr. Yishak consulted with the Director General of the European Space Agency (ESA), Josef Aschbacher, delegates from the United Arab Emirates Space Agency, the President of the International Space University, John Wensveen, officials of the Italian Space Agency, and astronauts.

Addis Ababa, October 18, 2024 (FBC) – Ambassador Tsegab Kebebew, Permanent Representative of Ethiopia to the UN in Genev

Ambassador Tsegab Kebebew was nominated by Ambassador Aimé Clovis Guillond, the Permanent Representative of the Republic of Congo, on behalf of the Africa group. He was seconded by Ambassador Paul Bekkers, Permanent Representative of the Kingdom of the Netherlands and endorsed by acclamation by the Executive Committee.

The Ambassador’s nomination garnered full support of the Executive Committee due to his highly relevant experiences, including in leading multilateral fora, among others, as Chair of the UNDRR Support Group as well as Coordinator of the Africa Ambassadors Group on health issues in Geneva.

a has been elected as a Second Vice-Chairperson of  the Executive Committee (ExCom)  Bureau of the UNHCR on October 18, 2024.

Addis Ababa, October 17, 2024 (FBC) – The recent ratification of the Nile Basin Cooperative Framework Agreement (CFA) by six Nile Basin countries represents a pivotal advancement toward a fair and sustainable approach to managing the river’s vital resources.

This agreement aims to rectify longstanding historical imbalances and promote collaboration among all nations on the Nile.

Despite the relentless attempts made to deter its implementation, CFA has now officially coming into force on October 13, 2024.

The CFA has been a central topic of discussion among Nile Basin countries for years, now backed by parliamentary ratifications in six member states.

Addis Ababa, October 16, 2024 (FBC) – Prime Minister Abiy Ahmed (PhD) stated that, “Today marks a significant milestone as we launch the sale of Ethio Telecom shares, an essential step in our ongoing journey from political revolution to evolution over the past six years.”

 Key reforms, including the development of Digital Ethiopia, have created the foundation for this moment, enabling progress across various sectors, the Premier pointed out.

“With 50 million Ethiopians transacting via mobile money, the 130-year-old Ethio Telecom is offering 10% of its shares to the public, laying the groundwork for Ethiopia’s stock market and expanding access to ownership in one of the nation’s leading state-owned enterprises, which has now evolved into a share company. Congratulations to all!” the Prime Minister noted.

Addis Ababa, October 15, 2024 (FBC) – Head of Political Affairs and Counter Terrorism Focal Point for the African Union (AU), Babatunde Abayomi Taiwo commended the commitment of Ethiopia for its positive contribution to peace and security in Africa and globally.

The first African Defense Ministers Conference organized by Ethiopia on its own initiative kicked off in Addis Ababa at the Adwa Victory Memorial Museum this morning.

During the occasion, AU’s official expressed deep gratitude to Ethiopia for hosting the event, which aims to address the continent’s complex security challenges.

Taiwo highlighted Ethiopia’s significant contributions to the AU and the United Nations since 1951, particularly its leadership in peacekeeping missions in Somalia and other regions.

Addis Ababa, October 15, 2024 (FBC) – The National Bank of Ethiopia (NBE) today announced new policy on the treatment of foreign Exchange–trading related spreads and fees.

In a press release issued this morning, NBE said that it has regularly been reviewing the performance of the foreign exchange market since the transition to a new FX regime on July 29, 2024. During this period, NBE claimed that it has addressed a number of emerging issues and challenges in a constructive manner, based both on consultations with the industry as well as lessons learned from the early experience with the new FX market environment.