I am prompted to write this piece by a news item reported by Capital Ethiopia Newspaper that the government has changed the banking business proclamation, opening the insurance industry to Ethiopians diaspora, specifically those who hold foreign nationality but Ethiopian by birth. This particular group of the diaspora community has Read more…
Every time the Ethiopian government releases news regarding privatization of public enterprises, we hear a lot about a magic number, 49%! This is to underline that the public enterprises would be privatized only partially. In order to stress this point, the 49% figure is given some prominence to indicate that Read more…
PM Abiy Ahmed has done his level best to cope with Ethiopia’s foreign exchange crisis that he inherited. He used his charm offensive in public diplomacy, persuading multilateral and bilateral donors to stand by Ethiopia. He has achieved a great deal in that regard. Solving Ethiopia’s foreign exchange troubles, however, Read more…
The privatization of Ethio Telecom seems to have begun in earnest. We may not hear any more such silly recorded messages as “the network is busy now, please try later!” My personal favorite is the excuse I have often received for my calls from abroad: “your balance is running low, Read more…
Fana Broadcasting Corporation (FBC) reported, quoting Office of the Prime Minister, that “[o]n the margins of the Belt and Road Forum (BRF), the Ethiopian Investment Commission (EIC) has signed memoranda of understanding (MoUs) with four Chinese companies that have decided to invest in Ethiopia”. FBC listed target sectors: Taison Group Read more…
China has cancelled interest on all loans to Ethiopia that were taken out before the end of 2018. China has also extended the terms of its loan to Ethiopia to finance Railways from ten to thirty years. These have been celebrated by many on social media and elsewhere. As far Read more…
On March 19th, the National Bank of Ethiopia (NBE) Governor, Yinager Dessie, presented eight months review of Ethiopia’s 2011 budget to the house of representatives. In that report he spotlighted Ethiopia’s miserably low foreign exchange reserve. In his attempt to stress the seriousness of the matter, he specifically stated that: Read more…
PM Abiy seems to have chosen to approach Ethiopia’s economic governance by taking it for granted that he has inherited a vibrant and rapidly growing economy. As far as politics is concerned, there is no doubt that he has been forging ahead with radical reforms, making major departures from the Read more…
Ms. Adanech Abeebee, Ethiopia’s Minister of Revenues, is perhaps the busiest among PM Abiy’s cabinet members. Ethiopian authorities seem to be determined to strengthen domestic resource mobilization by improving tax collection and administration efficiency. The renewed emphasis on domestic resource mobilization and self-reliance in public finance can have far reaching Read more…