servizio news 10-11.03
TRANSCRIPT
2
Contents
ETHIOPIA ............................................................................................................................................ 3
Padiglione italiano alle prossime fiere agrex e hotelshow di Addis Abeba...................................3
Ethiopia Beats Coffee Export Target With Higher Than Planned Revenue ...................................4
Ethiopia Will Build The First Electric Cars In Africa ........................................................................6
Corporation Constructs, Repairs Over 7, 800 Km Of Roads ...........................................................7
Enterprise Considers Building Secondary Airport For General Aviation........................................8
Ethiopia: Kessem Irrigation Project Started Operation .............................................................. 11
Turkey's Industrial Boom: Lessons For Ethiopia.......................................................................... 12
City Has Allocated 8 Bln Birr For This Year Housing Dev't Project: Report ............................... 15
Ethiopia: Inflation Rose To 8.2 Percent In February................................................................... 16
SOUTH SUDAN
Security Council Delegation To Discuss S. Sudan And African Issues In Ethiopia .................... 17
DJIBOUTI
Djibouti Bank Opens Office In Ethiopia ........................................................................................ 18
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4
ETHIOPIA BEATS COFFEE EXPORT TARGET WITH HIGHER THA N PLANNED
REVENUE
The half fiscal year of
2014/15 saw a success in
terms of achievement in
the export of coffee,
according to Addis Fortune.
The country's plan for the
first six months of the
budget year was to export
73,593.5tn of coffee and
gain an income of 269
million dollars. The actual
export was 73,227.9tn,
from which a higher than
targeted revenue of 307.5
million dollars was gained.
(11.03.2015 – WIC)
"The gain from the export
exceeds the plan because the
international coffee price was
better in the export period,"
said Getahun Bikora, coffee
marketing director at the
Ministry of Trade (MoT).
This year's plan of the Ministry
is to export 235,950tn of coffee
to gain 862.5 million dollars.
"The new coffee is yet to come
to the market and it will
increase the volume of the
coffee that we export," said
Getahun.
At the beginning of the fiscal
year 2014/15, Ethiopia, which
supplies less than five percent
of the world's coffee, was said
to benefit from the plague on
the Brazilian coffee. The
production of Brazil's coffee
was said to decrease
significantly although it only
decreased by five percent.
"We did not benefit from the
coffee market as we expected
when we heard of the Brazilian
coffee issue although we have
achieved our target," Getahun
said.
The performance of the coffee
that is exported according to
the plan is 99.5pc and the
income performance shows a
performance of 114.3pc. The
seventh month export of coffee
was planned to be 90,483tn
while 79,365tn of coffee was
exported, showing 88pc
performance. The gain from
the seventh month export was
planned to be 330 million
dollars while the amount
gained was 339.4 million
dollars, which is 102pc of the
planned performance.
In the three weeks of the
eighth month, 9,120tn was
exported, bringing in an
income of 42 million dollars.
Ethiopia expects to produce
461,620tns of coffee this year,
of which it expects to export
239,950tns for 862.55 million
dollars, showing an increase of
23.6pc in volume and 20pc in
revenue from the previous
year.
In 2013/14, the country
planned to export up to
277,500tn but has done only
190,876tn with the planned
revenue falling down from the
planned one billion dollars to
only 717 million dollars.
The international price of
coffee has been declining since
mid January. The international
market price of coffee on
February 3, 2015, per pound
5
was 163.6 American cents and
it dramatically fell down to
137.6 American cents per
pound on March 3, 2015.
"The major thing we should do
is to make the price of the
Ethiopian Commodity Exchange
(ECX) line up with that of the
international market and craft a
subsidizing policy to increase
the amount of export," said
Getahun.
The international coffee price is
yet expected to fall well up to
120 American cents a pound,
which the Ministry sees as a
future challenge in the coffee
market as the international
coffee market does not depend
on fundamental issues of
demand and supply but rather
on the technical issues that
govern the market. These
issues could be political or
such.
Ethiopia stands fifth in the
world with a production of
379,500tn a year, having the
world's supply share of 4.5pc in
2012/13. Out of this, the
amount Ethiopia exported was
3,134 bags, which amounts to
47.5pc (180,262tn) of the total
production.
The other top producers of the
world are Brazil with 34.46pc
share of the total coffee with
three million tones of
production.
Next comes Indonesia with
8.75pc share having 0.76
million tonnes, followed by
Vietnam and Columbia having
the world's share of 7.99 and
7.17pc with 0.69 million tonnes
and 0.62 million ton as the
International Coffee
Organization (ICO) data
indicates.
6
ETHIOPIA WILL BUILD THE FIRST ELECTRIC CARS IN AFRICA
Ethiopia will build the first
electric cars in AfricaGlobal
Electric Transportation an
American company will
start making electric cars in
Ethiopia in September 2015
Global Electric
Transportation (GET) a
cutting adage American
company will start the
project in September 2015
according the CEO of the
company Ken Monter. Once
the factory is finished it will
produce just about 4000
electric cars a month he
added.
(10.03.2015 - Tigray
Online)
The US Ambassador to
Ethiopia, Patricia M. Haslach
and the chief executive officer
of Global Electric
Transportation of the US, Ken
Monter had discussed the
project with the Ethiopian
President Teshome Mulatu.
Patricia M. Haslach said the
United States was expanding
its strong relationship with
Ethiopia not only in the sectors
of peace and security, but also
in the economic sphere. The
electric car plant is part of this
initiative by the US, she added.
The carbon free cars will help
with the enviroment and the
safty of the users.
Ethiopia is one of the fastest
growing economies in the
world and the Ethiopian
government is making sure the
growth does not come at the
cost of environmental cost to
the people of the giant country
in the Horn of Africa. It is to be
recalled Ethiopia is the leading
country in wind energy in
Africa having completed two
big wind farm projects in the
past few years. The ever
expanding green Ethiopian
economy has attracted some
big international companies.
The electric cars assembly
plant will create many jobs and
transfer of technology in
Ethiopia. As the whole world of
manufacturing is desperately
moving from the traditional
polluting way of making things
Ethiopia is strategically placing
it’self to be in the for front
leading Africa.
Ethiopia with about 92 million
people, a stable government
and an economy growing about
11% a year is very attractive to
investors.
The Ethiopian government
should encourage domestic and
international investors to invest
in the next level
manufacturing, which would
include manufacturing of
motors, industrial machinery,
and research & development.
7
CORPORATION CONSTRUCTS, REPAIRS OVER 7, 800 KM OF ROADS
The Ethiopian Road
Construction Corporation
(ERCC) said it has built and
renovated 7, 819 km of
road at a cost of 1 billion
birr during the past seven
months.
(10.03.2015 – WIC)
ERCC Public Relations Head,
Demeke Chane, told WIC today
that the roads built and
repaired across the nation by
the corporation have a
significant contribution for the
economic growth of the
country.
Shekosh-Kebridehar,
Kebridehar-Denan, Denan-
Gode, Gambella-Itang-Jikawo,
Wezka-Gidole, Beseka-Baipas
are among the road projects
executed by the corporation in
the reported period, he pointed
out.
The authority has set a plan to
build and repair more than
2,900 km road in the remaining
months of this budget year, he
said.
Ethiopian Road Construction
Corporation (ERCC) is a new
government development
agency established under the
Ethiopian Roads Authority
(ERA), it was noted.
8
ENTERPRISE CONSIDERS BUILDING SECONDARY AIRPORT FOR GENERAL
AVIATION
The Ethiopian Airports
Enterprise is considering
the construction of a
secondary airport in Addis
Ababa that will serve
private airlines operating
light aircraft.
(07.03.2015 – The
Reporter)
At a consultative meeting
organized by the Ethiopian Civ il
Aviation Authority (ECAA) and
the Ethiopian Airports
Enterprise (EAE) on Thursday
CEO of EAE, Tewodros Dawit,
told participants that the
government seriously
considered the repeated
request made by private
airlines for the construction of
a secondary airport that will
serve the general aviation
(private airlines operating non
scheduled flights). Tewodros
presented two alternatives to
construct a separate run way
and terminal at the Addis
Ababa Bole International
Airport and building another
new small airport in the
outskirts of Addis Ababa.
“We are going to conduct a
study on these alternatives.
There is also the opportunity to
use underutilized airports in the
regions. However, the market
for general aviation is in Addis
Ababa,” Tewodros told owners
and managers of private
airlines at the ECAA Training
Center.
According to Tewodros, since
airport construction requires a
huge sum of money the real
demand of the private airlines
and their capacity should be
thoroughly assessed. “We
could develop unutilized land in
south of the premise of the
airport or build a small airport
in the outskirt of Addis Ababa.
We are studying these
alternatives,” he told the
stakeholders.
Private airlines have been
voicing a number of complaints
to the ECAA and EAE. A
construction of a secondary
airport in Addis Ababa for the
general aviation (that operate
non scheduled flights) is one of
the long list of demands that
the private airlines presented
to the government.
The Addis Ababa Bole
International Airport has only
one run way and it is being
congested by scheduled flights.
The airport accommodates
more than 150 flights daily.
There are 15 registered private
airlines in Ethiopia but only six
of them are active. The private
airlines provide charter flight
services with light aircraft.
These small private airlines are
facing a problem is sharing the
sole runway at the airport with
giant jetliners such as B787
and B777. Even the national
carrier, Ethiopian Airlines,
partially moved its flight
training center to Dire Dawa
and Debre Zeit due to the
congestion.
It now seems that the
government seriously took this
and other complaints lodged by
private airlines. ECAA regularly
organizes consultative meeting
with stakeholders and solves
most of the problems raised by
private airlines. The EAE, too,
9
is responding to requests made
by private airlines. Beyond the
two organizations higher
government officials began
listening to the woes of private
airlines. For the first time the
Minister of Transport, Workneh
Gebeyehu, met and discussed
various issues with
representatives of private
airlines, fuel companies and
other stakeholders.
The unavailability of counters
at the passenger terminal,
space for the construction of
aircraft maintenance hangar,
scarcity of offices at the airport
for rent, runway congestion,
fuel supply, aircraft seat
limitation, customs and
immigration issues are some of
the major issues raised during
the meeting with the Transport
Minister. The private airlines
demanded that the
government should urgently
enact the long overdue national
air transport policy. Workneh
told executives of the private
airlines that they need to
establish an association. ECAA
and EAE held a follow up
meeting with stakeholders on
Thursday.
Wossenyeleh Hunegnaw (Col.),
Director General of ECAA, said
that the government is giv ing
due attention to the general
aviation. He said that the
Minister of Transport ordered
all the relevant organizations to
address the issues raised by
private airlines. He explained
the progress made after the
meeting with the minister.
According to Wossenyeleh, the
draft national air transport
policy will soon be presented to
stakeholders for discussion. “It
took a prolonged time but now
I think it is time to enact it.
The policy will address most of
your concerns,” he said.
Wossenyeleh assured
executives of the private
airlines that most of the
problems the private airlines
raised during the meeting with
the minister will be addressed.
In the course of the meeting
representatives of private
airlines raised some issues.
Limitations imposed on the age
of aircraft and pilots were of
the issues raised. The ECAA
restricts local airlines not to
import aircraft with an age of
older than 22 years. Pilots
older than 25 years cannot fly
aircraft in Ethiopia.
Wossenyeleh said this was
done to ensure safety. “But we
can still review this. There is a
room for discussion. We did
this in accordance with the
regulations of the International
Civ il Aviation Organization.”
Managing Director of
Abyssinian Flight Service,
Solomon Gizaw (Capt.), said
that the limitation on aircraft
age is applicable only on local
airlines. Solomon said foreign
operators are free to deploy
ageing aircraft in Ethiopia while
local airlines are obliged to
operate only new aircraft. “This
favors foreign operators and
creates an uneven playing
field. This is injustice,”
Solomon said.
Wossenyeleh accepted the
request made by Solomon.
“This is a valid and acceptable
point. We will take note and
address the issue,” he assured
the participants.
CEO and owner of National
Airways, one of the thriv ing
private airlines, Abera Lemi
(Capt.), said that the
government should provide
support to private airlines. He
said if the government wants
the general aviation to grow it
should support private airlines.
“The government is saying that
we need to build our capacity.
How can we build our capacity
without the support of the
government?” Abera inquires.
“We do not have maintenance
hangar and we maintain our
10
aircraft under scorching sun
and rain. Customers who come
to audit us tell us that we are
far below the required
standard,” he lamented.
Tewodros said that aviation
was not considered as an
engine of growth. “The
government focused on other
poverty reduction programs
and gave little attention to the
aviation sector. But this has
now changed.” According to
Tewodros, the general aviation
in Ethiopia contributes less
than one percent to the
country ’s GDP. However, he
said, the sector is growing in
recent years and there is
untapped potential adding that
the government is committed
to assist. “The economy is
growing fast and so is the
demand for air travel. The
government has shown a firm
commitment to assist the
aviation sector.” According to
Tewodros, the demand for air
travel is growing at a rate of
20-25 percent every year.
Dawit said that space for
maintenance hangar
construction will soon be
allotted for private airlines
adding that the ongoing
expansion work on the
passenger terminal will
mitigate problems related to
counter, conveyer and office
space. “We will have additional
100 counters when the
expansion work is completed.
We can dedicate 20 counters
for private airlines,” he said. He
reckoned that the enterprise
allotted a ramp dedicated to
the general aviation.
To cope with the growing
aviation industry in Ethiopia,
particularly the fast growth of
Ethiopian Airlines, EAE is
building new airports and
expanding the existing ones.
The enterprise is expanding the
Addis Ababa Bole International
Airport at a cost of 250 million
dollars and is in the process to
build a multibillion dollar mega
hub out of Addis Ababa.
During the meeting a
representative of Total Ethiopia
raised safety issue at the Addis
Ababa Bole International
Airport. Marc De Lataillade,
Managing Director of Total
Ethiopia, said that there is a
safety concern at the airport in
relation to movement of cars
within the airport. “We need to
work together with the
Ethiopian Airports Enterprise
and Ethiopian Airlines on this
issue,” Lataillade said. He also
mentioned that the access road
to the aviation fuel depot is in
a poor condition. According to
him, the access road should be
rehabilitated.
Some participants of the
meeting said that erratic
movements of cars often cause
collisions of cars and cars
against planes. Officials of both
EAE and ECAA admitted the
problem and vowed to address
the issue in collaboration with
all stakeholders.
Total Ethiopia started supply ing
aviation fuel in Ethiopia in 1998
and currently has 29 percent
market share. Oil Libya and
National Oil Company (NOC)
are the leading aviation fuel
suppliers with 40 and 31
percent market shares.
Representatives of the private
airlines acknowledged the
efforts made by ECAA, EAE and
the Ministry of Transport to
mitigate the hurdles facing
general aviation in Ethiopia.
11
ETHIOPIA: KESSEM IRRIGATION PROJECT STARTED OPERATION
Kessem irrigation project
which consumed 2.6 billion
Birr and constructed by
Water Works Construction
is 99 percent completed
and has started giving
service. This was disclosed
by the resident engineer of
the project Jegsa Deyisa.
(10.03.2015 – 2Merkato)
The dam is built on the
tributaries of the Awash River
and it took 10 years. Upon
completion the dam will have a
capacity of storing 500 million
meter cubic water.
Thus far a total of 5,000
hectares of land has been
cultivated with sugar cane
using the dam. Nonetheless,
this figure is expected to rise to
20,000 hectares by June.
According to Fana Broadcasting
Corporate, the project took 10
years due to due to harshness
of the environment and a rise
in financing the project.
Main gate and fencing work of
the dam will be done this fiscal
year in order to complete the
project.
12
TURKEY'S INDUSTRIAL BOOM: LESSONS FOR ETHIOPIA
Ayka Addis, Oyap Ethio
Industry and Trading,
Saygin Dima PLC, BMET
Cables and MNS Textile are
notable Turkish companies
that are engaged in the
manufacturing sector here
in Ethiopia.
(07.03.2015 – The
Reporter)
Turkish Foreign Direct
Investment (FDI) to Ethiopia is
leading the group of emerging
economies that have shown
interest in investment
opportunities here. Although
the Chinese lead in terms of
number of companies that
have invested in the country,
the Turks lead in combined
capital outlay, according to the
Ethiopian Investment
Commission (EIC).
The combined capital
investment by the Turks is just
shy of 20 billion birr,
constituting 22.5 percent of the
overall outlay. The EIC believes
that Turkish companies are
number one in the quality of
the investment on account of
having the highest share of
overall capital investments by
FDI in Ethiopia. This is music to
the ears of the Ethiopian
government. And it seems that
that it is just a tip of the
iceberg. In that regard, the
relationship between the two
countries was further cemented
with the recent v isit to Ethiopia
of Turkish President Recep
Tayyip Erdoğan.
Back in 2009, during a v isit to
Turkey, the then President of
the Oromia Regional State,
Abadula Gemeda, is said to
have shared a joke with the
man behind major
constructions in Istanbul: that
he was not leaving Turkey until
a Memorandum of
Understanding was signed
between the two sisterly
countries. Several government
officials, including former
President Girma Woldegioris,
and the late Prime Minister
Meles Zenawi, former Foreign
Minister Seyoum Mesfin, former
Trade and Industry Minister
Girma Birru, former Ethiopian
Ambassador to Turkey and
current President of Ethiopia
Mulatu Teshome (PhD) and
other government officials have
met and talked with him.
Enthusiasm was high among
the officials that the then
foreign minister, Seyoum
Mesfin, even called it “The
mother of all investments.” The
talisman behind the colossal
project, Yusuf Akgün, Chairman
of Akgun Construction, said:
“They won our hearts.”
Akgün is at the helm of a
company that already runs a
major investment zone in
Turkey. The company deals
with and specializes in
construction and design
materials with many business
partners from various well-
known brands in the European
Union. Its network extends to
countries such as Germany,
France, Austria, Belgium, Italy
and South Korea.
Akgün is also the owner and
chairman of Ik itelli Organized
Industrial Zone, extending over
some 1000 hectares of land
and composed of 37 industrial
13
cooperatives and 30,000
workplaces. It is the biggest
industrial center in Turkey in
terms of manufacturing
capacity and number of hosted
workplaces.
That is what Akgün is planing
to have here in Ethiopia. Akgün
Group signed an agreement
with the Ethiopian government
in 2009 that enables it to
develop an international
industrial zone in the Oromia
Regional State near Legetafo.
Akgün initially secured 100
hectares of land from the
regional state, which would be
eventually extended in the
future once the project gets
moving. The total cost of the
project is estimated at 10
billion dollars and is projected
to employ one million people.
The company has started some
initial work and is conducting a
soil test and planning to start
construction in the near future.
Machineries and equipment are
on their way to Ethiopia.
However, the initial
construction site is found in the
catchment area of the
Legedadi dam which supplies
clean drinking water to 50
percent of the over three
million Addis Ababa residents.
This predicament has stalled
the progress of the
construction of the Ethio-
Turkish Organized Industrial
Zone.
Foreign exchange earner
True to form, the Turks are
adept at construction and at
managing industrial zones,
which is one of the major
revenue generators of the
transcontinental country which
links Europe and Asia. “Last
year, we were the second top
taxpayer in Turkey,” Mustafa
Topçuoğlu, President of
Demirciler Sanayi Sitesi, told
The Reporter. In addition, the
industries are foreign exchange
earners. “Out of 500
enterprises, 200 export their
products to foreign countries,”
Topçuoğlu said.
Turkey is one of the economic
giants in the region. With a
GDP of USD 1.5 trillion (PPP),
according to the CIA World
Factbook, in 2013, the export
earning of the transcontinental
country was a whopping USD
167 billion. Major exports
include apparel, foodstuffs,
textiles, machineries and
transport equipment.
Technoparks: R&D
Turkey strongly supports
Research and Development
(R&D) and innovation-related
investments through its
comprehensive investment-
incentive regime. Aiming to
become a high-tech
manufacturing and export base
in the next 10 years, Turkey
will heavily rely on its
technology parks which are fast
increasing in number and
populated by the country ’s
v isionary entrepreneurs and
talented workforce.
“Technology development and
innovation in technoparks will
bring an export revenue of USD
10 billion by the year 2023,”
Turkey’s Minister of Science,
Industry and Technology, Nihat
Ergun, said back in 2013. “The
target is to double the number
of technoparks in Turkey and
increase their exports 10-fold.
Anything less will not be
considered a success,” Ergun
noted. Technoparks in Turkey
have come a long way in the
last decade, from only tow in
2013 to dozens of active
technoparks today.
“If you are an organized
industrial zone, then you have
to have a technopark. There is
14
no industrial site apart from
this which has been successful
on this issue. We established a
technopack after reaching an
agreement with Yildiz Technical
University about a year ago,”
Topçuoğlu said. In that regard,
the enterprises that work on
R&D in the technoparks will be
exempted from tax for 10
years, according to Topçuoğlu.
Currently, one research that is
being conducted at the Yildiz
Technical University technopark
is on an Unmanned Ariel
Vehicle (UAV) called the Heron.
It is a medium-altitude long-
endurance unmanned aerial
vehicle. Turkey operates a
special variant of the Heron,
which utilizes Turkish- designed
and manufactured electro-
optical sub-systems. For
example, the Turkish Herons
use the ASELFLIR-300T
airborne thermal imaging and
targeting system. The Turkish
Herons also have stronger
engines in order to compensate
for the added payload created
by the heavier ASELFLIR-300T.
Focusing on the next
generation
There are more that 5000
engineers and scientists
currently working at the Yildiz
Technical University technopark
and at least 75,000 people are
now working in technoparks in
different parts of Turkey with
their main focus being on R&D.
For instance, Yildiz Technical
University technopark gives
due attention to the aerospace
industry. “We develop solutions
for airlines and software in
aircraft maintenance. We have
a very niche market. Major
airlines are our main
customers. There is only one
technopark, which is focused
on this area in Turkey and not
more than ten in the world,” an
engineer at the technopark
said.
The technopark hires new
graduates in addition to giv ing
them on-the-job trainings.
They also have summer
internship programs for
university students. “They
come to us to work for one or
two months. During their stay
with us they learn about the
industry and if we find a good
potential student we will hire
them up on their graduation,”
the engineer told The Reporter.
This and other schemes are
what Akgün and co have in
store for Ethiopia. And to
realize the project they have
aggressively promoted the
Ethio-Turkish International
Industrial Zone project in
Turkey, Germany, the US, the
UAE and Japan. The industrial
magnet, Akgün, is confident
that his company will soon
embark on the largest
industrial zone development
project in Africa which is
backed by both the Ethiopian
and Turkish governments. “We
just need them [government
officials] to give us a sovereign
guarantee that there would not
be further problem,” Akgün
said.
15
CITY HAS ALLOCATED 8 BLN BIRR FOR THIS YEAR HOUSING DEV'T PROJECT:
REPORT
On its 2nd ordinary session
the Addis Ababa City
Administration reported
that positive results are
registered in areas of
housing development,
MSEs, employment
opportunities, road
construction, health sector,
and others.
(10.03.2015 – WIC)
Presenting the Administration
half year performance City
Mayor Diriba Kuma said that as
one of its prime focusing areas,
the Administration has
prepared 640 hectares of land
to build additional condos. As
part of this programme the
Administration has allocated 8
billion Birr for this year housing
development project.
Deriba also said so far the
Administration has constructed
and transferred 105, 000
condos. The report indicated
that, though there are positive
results in the housing
development activ ities, the
problem associated with
contractors, lack of consultants
and others were identified as a
challenge, according to the
report.
Concerning Micro and Small-
scale Enterprises, the Mayor
said that the sector is
becoming the source of income
for thousands of citizens and
serving as a basis for
industrialization.
Within the last six months the
Administration together with
other stake holders have
created job opportunities for
103, 978 citizens out of whom
63,500 are permanent jobs.
In the health sector, the report
indicated that expansion
projects in four hospitals are
being undertaken and 16
health stations are under
construction.
In the area of road
construction and maintenance,
expansion projects have shown
progress during the reporting
period.
The report also indicated that
the road network has increased
from 4,671-kms into 4,801 -
kms and the construction of ne
roads and expansion project
have increased from 17.5 per
cent into 18 per cent.
Regarding the transportation
sector, the City Administration
together with stakeholders is
try ing to address the gaps
reported and registered in
various ways. (EH)
16
ETHIOPIA: INFLATION ROSE TO 8.2 PERCENT IN FEBRUARY
Central Statistics Agency
(CSA) disclosed Ethiopia’s
inflation rate has risen to
8.2 percent in the month of
February. The Agency
attributed this to the
higher prices of food items
such as vegetables, fruits
and meat.
(10.03.2015 – 2Merkato)
The annual inflation during the
month of January was 7.7
percent.
According to CSA food inflation
has risen to 9.6 percent in
February from 7.1 percent,
where it was the previous
month. On the other hand non
– food inflation rate has
dropped to 6.8 percent from
8.2 percent.
Fana Broadcasting Corporate
(FBC) the Federal Government
has managed to lower the
inflation rate to a single digit
during the Growth and
Transformation Plan period.
17
SOUTH SUDA N
SECURITY COUNCIL DELEGATION TO DISCUSS S. SUDAN AND AFRICAN ISSUES
IN ETHIOPIA
A delegation from the
United Nations Security
Council is due to arrive this
week in the Ethiopian
capital, Addis Ababa, to
discuss South Sudan and
other hot crises in the
continent with the African
Union officials.
(11.03.2015 – Sudan
Tribune)
The Ethiopian ministry of
foreign affairs said the senior
members of the UN Security
Council will hold joint
consultations with the African
Union Peace and Security
Council.
During the one-day visit in
Addis Ababa, the members of
the Council will meet AU
Commissioner for Peace and
Security, Ismael Chergui.
They will be updated on the
current situations in Africa and
thereby will hold deep
discussions on peace and
security of the continent.
The visiting UNSC delegation
which will arrive on Thursday
will discuss the crisis in South
Sudan as peace negotiations
between rival factions aimed to
reach a final peace deal
collapsed last Friday.
President Salva Kiir and rebel
leader, Riek Machar, missed
March 6 deadline set by
regional mediators to strike a
comprehensive peace
agreement to end over nearly
15-month conflict which k illed
tens of thousands and
displaced an some two million
people.
The UN Security Council earlier
last week unanimously adopted
a resolution to impose
sanctions on the two South
Sudanese warring factions. It is
also expected to discuss the
matter again soon.
A sanctions committee is set to
submit to the 15-member body
a list of names that are
responsible for hindering the
peace process.
The sanctions which also are
expected to target leaders of
the conflicting parties include
travel bans and assets freeze.
The threat a terrorist group in
Nigeria, Boko Haram, and ways
of combating it will also be
among the issues the
delegation will discuss with the
regional body.
African leaders have recently
agreed to send 7,500 troops to
Nigeria to battle Boko Haram
as a continental move to curb
growing terrorism threats.
Other issues expected to be
addressed in the joint
discussion are the capacity
development for programs of
peace and security and
peacekeeping mission
discussions.
The members of the delegation
are expected to include the
French representatives to the
UN Francois Delattre, US
ambassador to the United
Nations Samantha Power, and
the British deputy head of the
British mission to the UN, Peter
Wilson.
The high level v isit is part of
the Security Council’s planned
five-day tour in three African
countries, the Central African
Republic, Ethiopia and Burundi.
18
DJIBOUTI.
DJIBOUTI BA NK OPENS OFFICE IN ETHIOPIA
Red Sea Trade & Industry
Bank (BCIMR) of Djibouti
opened a representative
office in Addis Abeba on
February 26, 2015, which
was marked with an
inauguration at the
Sheraton Addis Hotel in the
presence of Jean Pierre
Gianotti, the Bank's
director general.
(01.03.2015 – WIC)
BCIMR is a subsidiary of Bred
Banque Populaire Group (BPCE
group). The French banking
group bought BCIMR from BNP
Paribas in July 2007. BPCE
owns 51pc of the bank
whereas the Djibouti
government has 33pc of the
share and the remaining 16pc
is owned by Yemeni bank.
The Bank says in its website
that it operates in all market
segments such as personal,
business, public sector and
institutional, mainly in Djibouti,
Somalia, Ethiopia, Eritrea,
Sudan, Yemen, and UAE.
BCIMR offers its customers
loans and financing, deposit
and cash management,
payment, trade finance, local
and international guarantees.
Specializing in Trade Finance,
the BCIMR offers a wide range
of services to banks that cover
all banking operations related
to the treatment of flows in
relation to international trade,
according to its website.
The Bank gives services such
as foreign exchange
transactions, Letter of Credit
(L/C), international guarantees,
transfers and receptions of
multi-funds (SWIFT, cheque,
etc.). Currently, most of the
private banks in Ethiopia are
clients of BCIMR, according to
Ahmed.
Ahmed Abdou Mohsein, the
office representative in
Ethiopia, says that most of the
banks in Ethiopia have a
correspondent banking relation
with BCIMR.
Among these banks are
Abyssinia, Awash, Dashen and
Wegagen. The representative
office will help to communicate
and manage delays and
documents easily and quickly,
said Atakilt Admasu,
International Banking Director
at Wegagen.
Furthermore, the office will
also provide information and
facilitate investment
opportunities in Ethiopia for
Djibouti investors as it
advances its presence in
Ethiopia, said Ahmed.
It took around three weeks to
furnish and open the
representative office, which is
located along Africa Avenue in
front DH-GEDA Tower, said
Ahmed, who makes all the staff
of the office together with a
secretary. The office received
its trade license in January
2015 from the Ministry of
Trade.
The representative office will
help its clients to save their
time and money, stated
Ahmed. The Addis Ababa
representative office will serve
as an intermediate office where
19
clients can communicate with
the Bank without leaving the
country, he explained.
The BCIMR represents an
average of 60pc market share
in Djibouti in terms of deposits
and loans and 85% of signed
commitments.
It has funded large regional
projects such as the electrical
interconnection between
Djibouti and Ethiopia in
collaboration with the French
Development Agency.