Ethiopian Cargo and Logistics Increases Fleet to Eight with New Delivery

Ethiopian Cargo & Logistics Services has taken delivery of its 8th B777 freighter aircraft in its cargo fleet family at its home base at Bole International Airport.

Maintaining its trajectory of rapid growth and expansion in the global cargo industry, the Africa’s largest cargo service provider play a critical role in providing global standard supply chain management in facilitating import and export economies of African countries.

Regarding the delivery of the new freighter, Ethiopian Group CEO Tewolde GebreMariam said, “The new aircraft will help us bolster our leading role in cargo operation in Africa and beyond, further expanding our commendable contribution in boosting the continent’s airfreight export/import traffic as laid out in our Vision 2025. As the largest cargo operator in Africa, we are currently serving over 44 international dedicated Freighter destinations in the Africa, the Gulf, the Middle East, Asia, the Americas and Europe, augmenting the export of perishable farm products from the continent of Africa and the import of high value industrial goods. With more freighters on order, we are set to consolidate our role in availing much needed airfreight service within Africa and beyond, further catalyzing the continent’s economic growth.”

As per its 15-year growth road map, Vision 2025, Ethiopian Cargo and Logistics Services envisions to generate $2 billion revenue with 19 dedicated freighter aircraft and transporting 820,000 tons of cargo to 57 destinations.

Source: https://africabusinesscommunities.com/news/ethiopian-cargo-and-logistics-increases-fleet-to-eight-with-new-delivery/

 

Ethiopian Mobile and Computer Conglomerate has Launched 50 million Birr Investment

The pro-facture manufacturing company, Pro.proEthiopia, has invested 50 million Birr with a foreign investor. In this same manner, the factory was officially opened in Dessie town, South Wollo Zone, Amhara State.

The owner and manager of the company, Mohammed Mekonnen, is the owner of the factory, October 25, 2011. At the time of the commencement of the graduation, Dessie Ayala University was selected by the Dessie City Trade and Investment Promotion Team Leader.

The investor coming to the city in their native country, the country house << >> something magnanimous farmers portrayed as motivated now to defer expressed mebik’etechewini open Redirect computer assembling factory. Although only a mobile base functionality required when work is started, the computer will soon start work largely addressed to Mr. Mohammed, Ethiopia āyipiro mobe Yi Li factory is now level << MN >> and << A9 >> developments underway are two types of models. The factory has started production of more than 600 mobile phones per day. The teams basing his skill increased, fully learns from those who have graduated from vocational education institutions are adjusting their work as they went on cell phones sewing production capacity of more than 3,500 per day up to 4000 appears grim. It has been discovered that the company is a manufacturer of chromium in China, which has been in China for more than 10 years. Currently, this mobile phone has more marketing access to more than 100 countries, an IRE sales executive manager.

According to Mr. Eckhart, the company has sold 25 million phones every year, and the first Ethiopian factory in Ethiopia has started producing 800 phones per day starting with the pilot project. It also said that in the near future, it would move up to 2,000 phones per day. He said that a reliable production factory in East Africa, including Ethiopia, has a strong market already built in Africa, particularly in Algeria, Morocco and Egypt.

In addition, the factory will create job opportunity for 70 employees and it will create temporary and permanent job opportunities for 400 employees when the factory is fully operational. Mohammed also said that the mobile phones were made up of graduates from TVET schools and job opportunities in the fields they learned. To get more technical training from Chinese professionals for more than a month, they are also mentioned to help them gain more knowledge.

It is a company that specializes in mobile phones and smartphones and tablets, from Asia to Europe, Middle East and Africa.

In addition to the merger of mobile and computer accessories, the investors are also known to be involved in activities that could contribute to the development of a paper product. The city administration has expressed its desire to provide the place where the paperwork is to be constructed, he added.

Source: www.ethiopianreporter.com

 

Abu Dhabi’s Eagle Hills expands into Ethiopia

Eagle Hills, a private Abu Dhabi-based property developer, has entered the Ethiopian market with plans for a 360,000 square meter mixed-use scheme in the capital city Addis Ababa, it said on Monday.

“As one of Africa’s hidden gems, Ethiopia is rich in history, culture and natural beauty,” said Mohamed Alabbar, chairman of Eagle Hills and the founder of Dubai-listed developer Emaar Properties.

“Our vision is to bring attention to such locations across the globe … inviting future residents and tourists to consider making new homes for themselves there.”

The project, named La Gare, is named after the city’s former main railway station that took passengers from Addis Ababa to Djibouti.

It will have 4,000 residences once complete, and will also have commercial, hospitality, retail and leisure facilities set around a large park, with a railway line running around its northern edge.

It is located close to Addis Bole International Airport and will feature a social housing component funded by Eagle Hills and the Ethiopian government to house residents currently living on the project site.

Source: https://www.thenational.ae/business/property/abu-dhabi-s-eagle-hills-expands-into-ethiopia-1.793587

AfDB approves $123 million grant for Ethiopia’s Basic Services Transformation Programme

The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank Group, has approved additional resources to Ethiopia’s Basic Services Transformation Programme in the form of a US$123- million grant.

The Basic Services Transformation Programme Supplementary Financing (BSTP-SF) will be for the fiscal years 2018/19 to 2019/20.

The proposed support is consistent with the Ethiopian government’s Growth and Transformation Plan II (GTP II) 2015/16 – 2019/20), with specific reference to the strategic pillar on accelerate human development and technological capacity building and ensuring its sustainability.

The additional financial support is a continuation of the African Development Bank Group’s commitment to deliver quality basic services in Ethiopia in the critical services sectors such as healthcare, education and water and sanitation.

The original support programme was approved in December 2015. Since 2006, the Bank has been a key supporter of the Government’s programme in basic service delivery at the community level, aimed at increasing access to healthcare, education, agriculture, water & sanitation and rural roads. And also strengthening accountability at the community level.

The additional financial resources from the Fund will also enable the Government of Ethiopia to continue with programs that increase access to better basic services at the local level; strengthen accountability and transparency in service delivery and improve citizen’s engagement in service delivery.

More rural people in Ethiopia will be assured of continued access to services in healthcare, education and water and sanitation. Women will also benefit from accountability and citizenship engagement initiatives such as social accountability, financial transparency accountability (budget literacy) and participation in Water, Sanitation, Hygiene Committees (WaSHCOs) in addition to improved healthcare and water and sanitation services.

The measures will also benefit especially those in the underserved regions and pastoralist communities of Afar, Ethiopia-Somali, Benishangul-Gumuz and Gambela.

Ongoing support for basic service delivery by the Bank and other development partners has contributed to Ethiopia’s strong progress in human capital development. Key achievements include increased net enrolment rate in primary schools from 77.5 percent (2006) to 99 percent (2016); reduced maternal mortality (though remains high); a reduction in child mortality from 72 children per 1000 in 2006 to 20 children per 1000 by 2016, and improved rural water supply from 46 percent in 2006 to 74 percent as at end of 2017.

In approving the additional support, the Board of Directors of the African Development Fund noted Ethiopia’s progressive economic development and structural transformation process.

The East African nation’s fiscal policy in 2018/19 is expected to sustain focus on fiscal consolidation, characterized by stable pro-poor spending and improvements in public revenue mobilization.

The programme is aligned with the Bank’s High 5 agenda, particularly the ‘Improve the quality of life for the people of Africa’ priority.

BSTP-SF was developed jointly by the African Development Fund and the Government of Ethiopia, in close consultation with key development partners supporting basic service delivery (the World Bank, European Union, Austria Development Agency and Italy Development Cooperation).

The African Development Fund (ADF comprises 32 contributing countries and benefits 38 of Africa’s most vulnerable and least developed countries.

Since 1974, the Fund has cumulatively invested US$45 billion on the African continent, created 1.4 million jobs, improved access to financial services for 181,000 small businesses, and created opportunities for many entrepreneurs to start and grow their businesses. 

In ADF countries in 2017, the Bank built 2,730 km of distribution lines to provide access to electricity to households and businesses; provided improved agricultural technologies to 7.8 million farmers; improved access to transport for 13 million Africans, and access to clean water and sanitation for 7.5 million people.

Source: https://africabusinesscommunities.com/news/afdb-approves-$123-million-grant-for-ethiopias-basic-services-transformation-programme/

 

 

News: European Investment Bank Provides €30 Million Loan For Women Entrepreneurs In Ethiopia

The European Investment Bank (EIB) signed on November 22, 2018 a new loan with the Ethiopian Ministry of Finance and Economic Cooperation “to further boost female economic inclusion and empowerment across the country.”

Accordingly, the EIB will provide a €30 million long term loan to the Ethiopia Women Entrepreneurship Development Project (WEDP) also funded by the World Bank (WB), which supports micro and small enterprises owned or partly owned by women entrepreneurs.

“This will address a major obstacle, especially for women encountering a lack of access to finance for their firms. They are often excluded by commercial banks due to the relatively small loan size they need and the excessive collateral requirements (cf. study),” the bank said in a statement.

The Ethiopia Women Entrepreneurship Development Project aims at improving access to finance and business opportunities for these underserved female entrepreneurs. By fostering financial inclusion and the growth of women owned micro-small businesses, the EIB is helping to create jobs and supporting women’s empowerment.

Werner Hoyer, EIB President who is in Ethiopia, said: “To fight poverty and accelerate development we must tackle the obstacles that limit women’s potential. Gender equality is also a core European value and central to the European Union’s external policies which the EIB is committed to deliver. As the EU bank and one of the world’s largest multilateral lenders, the European Investment Bank can make a real difference by investing in projects that promote women’s inclusion and empowerment. By doing this we support the achievement of the UN’s Sustainable Development Goals. It is not just the right thing to do: it’s smart economics.”

Limited access to credit for private investment is a constraint to the growth and competitiveness of firms, particularly to Micro, Small and Medium Enterprises – disproportionately for women-owned firms, according to Ahmed Shide, Ethiopia’s Finance Minister. “The ongoing Ethiopian government’s Growth and Transformation Plan (GTP) gives priority to youth, especially women, by providing access to financial services and credit, as well as skills training for the manufacturing sector and professional life, Ahmed said.

The Women Entrepreneurship Development Project (WEDP) was initiated in 2013 with the support of development partners. “It has since served as a platform for mobilizing additional support for the cause. What started as a USD 50 million credit from the World Bank for the project has since attracted financing from the Italian and Japanese governments. I am now pleased to count the European Investment Bank as latest partner to support the initiative through the financing we just signed today.”

EIB Vice-President Ambroise Fayolle, who signed the loan, on his part said that “by improving access to finance for women entrepreneurs and investing in female owned businesses, the Ethiopia Women Entrepreneurship Development Project will enhance economic growth, job creation, female empowerment, and ultimately poverty reduction in Ethiopia.” The loan is “very much in line with the Cotonou Agreement and cooperation between Ethiopia and the European Union, as outlined in the 2014-2020 National Indicative Program for Ethiopia, and constitutes one of the Bank’s priorities as reaffirmed in the EIB Group Strategy on Gender Equality and Women’s Economic Empowerment,”Ambroise Fayolle further said.

“Ensuring gender equality is crucial if poverty is to be eradicated. It’s first and foremost a question about human rights but it’s also smart economics,” EU Ambassador to Ethiopia, Johan Borgstam said. “No economy can achieve its full potential if half of the population does not have equal access to education, justice and political decision making. Gender inequality stifles the growth of individuals as well as the development of entire countries. The recent efforts of the Ethiopian government in ensuring that qualified women are given the same opportunities as their male counterparts sends an important signal to the Ethiopian people, women and men alike.”

The 2018 edition of Africa Day is organized in partnership with the United Nations Industrial Development Organization (UNIDO) around the theme of sustainable industrialization. The EIB’s Africa Day was created to explore the continent’s many challenges and discuss ways to tap into its huge potential. The event serves as a platform for debate in areas such as private sector development, finance for small businesses, jobs for youth and women, agriculture, innovation and digitalization.

Source: https://addisstandard.com/news-european-investment-bank-provides-e30-million-loan-for-women-entrepreneurs-in-ethiopia/

 

Ethiopian space agency to launch first satellite in 2019

Ethiopia has announced its plans to launch its first satellite during 2019, from a site in China. The satellite will help improve weather monitoring in the East African country.

 

Although the continent of Africa has lagged behind wealthier continents in its space programs, in recent years a number of national space agencies have been established and are growing quickly. These include the South African National Space Agency, which focuses on using satellite data to avert natural disasters, and which has its own astronauts; Nigeria’s National Space Research and Development Agency, which has launched five satellites; and the Ghana Space Science and Technology Centre, which coordinates space research across the country.

 

Last year, the African Union supported a space policy calling on the region to adopt satellite communications for economic development, along with a continental space programme. So far, seven African countries have launched satellites.

 

The Ethiopian Space Science and Technology Institute (ESSTI) first announced plans to launch a satellite during its establishment in 2016. Now, ESSTI has announced that the satellite – the country’s first – will be launched in 2019 from a launch site in China. The observation satellite will be used to improve weather monitoring in Ethiopia.

 

“The satellite will be launched from China, while the control and command station will be in Ethiopia,” said Dr. Solomon Belay Tessema, director-general at ESSTI, which is based at Addis Ababa University.

 

The design, development and manufacturing of the satellite cost an estimated $8m (£6.2m), with Chinese support making up approximately $6m (£4.7m) of the total cost. However, Belay Tessema said that the majority of the preliminary and critical design was done by a group of Ethiopian engineers, with China helping to provide training for the project.

 

“Our main goals for launching this first satellite are two. The first is to build technology application capacity and skills of our engineers through collaborations with different countries’ space scientists and institutions,” said Belay Tessema, in a statement. He said that a second satellite would be designed, built and launched independently.

 

There are approximately 60 students – including several international students – partaking in Ethiopia’s space program. These students are based at the space institute in Addis Ababa, as well as at the Entoto Observatory and Research Centre, which is based at the summit of Mount Entoto. This position allows for the observation of both North and South hemispheres.

 

Source: https://eandt.theiet.org/content/articles/2018/11/ethiopian-space-agency-to-launch-first-satellite-in-2019/

 

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