Addis Ababa — Early warning should be taken as a necessity not a luxury, World Meteorological Organization Regional Office for Africa Program Manager Ernest Afiesimama said today. Speaking at the workshop, Afiesimama added that early warning faces three challenges, which are availability of information, accessibility and affordability. High emphasis is therefore given to early warning system and its decentralization where capacitated people at local will be in place to lead the system. "For this, we are building disaster risk management system for resilience building and disaster risk prevention, mitigation, preparedness, response and recovery areas of intervention," he elaborated. The national consultation workshop that opened today is coordinated by the Ethiopian Meteorological Institute and the Ethiopian Disaster Risk Management Commission, and co-organized with UN Ethiopia, in partnership with World Meteorological Organization, international organizations and NGOs.

Among the major developments is the emergence of a capital market, which promises to reshape the country’s financial landscape and potentially redefine the role of commercial banks. The emergence of a capital market poses both challenges and opportunities for Ethiopia’s commercial banks. As investors seek higher returns through capital market investments, commercial banks may experience a reduction in deposit inflows and loan demand. These institutions are well-positioned to capitalize on the growing demand for capital market services, potentially eroding the market share of commercial banks. Ethiopia’s capital market authorities must develop stringent oversight mechanisms to prevent market manipulation, insider trading, and other unethical practices.

Soon there will be other options to access finance (financial intermediation) in Ethiopia- the long-awaited Capital Markets. For example, in Kenya while the Kenyan Capital market Authority have a number of Regulatinions (over 30) that deals with specific areas e.g., The Capital Markets (Real Estate Investment Trust) (Collective Investment Schemes) (Amendment) Regulations, 2023) and Capital Market (Investment-Based Crowdfunding) Regulations 2022) that gives a framework to regulate the capital markets. Moreover, the ratings provided by these agencies shape investment decisions in capital markets. Operational risk in capital markets often happens around the integrity and safety of the technology employed and its ability to withstand cyber-attacks . As a complement to financial inclusion and financial consumer protection, financial education is also important to restore confidence and trust in financial markets.

a&o reports a record first half of 2024 with 2.98 million overnight stays, 75% room occupancy, and plans for further expansion in Europe. “We are very much on track,” confirms the a&o Hostels founder and CEO in view of the half-year figures. May and June were the best months with a room occupancy rate of over 80%. Around 1.4 million overnight stays in the first quarter alone already promised a strong first half of the year. The most popular hotels in Germany were a&o Berlin Mitte, a&o Hamburg City and a&o Berlin Hauptbahnhof; and internationally, a&o Prague Rhea, a&o Vienna Hauptbahnhof and a&o Venice Mestre.

Ethiopia has been bogged down in negotiations with the International Monetary Fund (IMF) for nearly five years as the East African country tries to unlock the IMF and World Bank funding needed to prop up its ailing economy. Partly as a result of this, Ethiopia has been trying to borrow around $3.5 billion from the IMF and a further $3.5 billion from the World Bank. Getachew Temare, an Ethiopian human rights activist, told Disruption Banking that “Ethiopia’s negotiations with the IMF have dragged on for nearly five years, highlighting the dire need for broad financial reforms, particularly in currency reform and debt restructuring. Regrettably, the current administration is woefully inadequate for this task.”Temare shone a light on the impact this “inadequacy” is having on Ethiopians. Overall, the government has no clear policy for fighting poverty and improving the lives of its citizens, as it is primarily focused on maintaining power through force.”Author: Harry Clynch#Ethiopia #Africa #IMF #World Bank

(Photo: UNHCR)Addis Abeba –At least nine government security forces were killed and several others injured in an attack on a security post near the Kumer refugee camp in the West Gondar Zone of Ethiopia’s Amhara region on 17 July, 2024, according to eyewitness reports to the BBC. Two refugees from the Kumer camp, which primarily houses Sudanese nationals, informed the BBC that, in addition to the fatalities, several other security personnel were injured in the attack. Following the attack, refugees reported to the BBC that defense forces were deployed to the area. In May 2024, the UNHCR reported that nearly 1,000 Sudanese refugees left the Kumer and Awlala refugee sites in the Amhara region due to security concerns and inadequate services. In response to the situation, the UNHCR has begun relocating Sudanese refugees to a new settlement near Assosa in the Benishangul-Gumuz region of Ethiopia.

North African countries seek assistance at Tripoli conference to help stem flow of refugees and migrants. Representatives from 28 African and European countries have met in Libya’s capital, Tripoli, to discuss ways to address irregular migration. The North African country is a main departure point for refugees and migrants, mostly from sub-Saharan African countries, risking dangerous sea journeys to seek better lives. “It’s time to resolve this problem,” Interior Minister Imad Trabelsi had said, because “Libya cannot continue to pay its price”. Officials in the country, however, “want to bolster the relationship between Africa and the EU to mitigate the migration problem”, he added.

Charges of disorderly conduct will be erased from the records of Ethiopian Israelis if they do not have additional criminal charges against them and if they were not given a custodial sentence for the charge, the Knesset voted into law Wednesday. Ethiopians have been experiencing institutional and individual discrimination for years, including from Israel Police, the Palmor committee found. Offenses will be erased even in closed cases and for cases in which the suspect was convicted. Ethiopian minors made up 18.5% of those incarcerated in the Ofek prison, which is nearly ten times their proportion in the population, the report added. In 2010, the indictments of some 400 and the arrest records of 6,000 protesters against the Gaza disengagement were erased, while the records of those who had prior criminal offenses or who were indicted for severe violence were not erased.

Ethiopia rose to hold 14.4 percent of Kenya’s foreign assets in 2022 from 13.3 percent in 2021 and 0.2 percent in 2020. This instantly raised Kenya’s foreign assets in the country, putting it ahead of Uganda, Tanzania, the United States and Mauritius, among others, that previously outpaced it by a large margin. Safaricom’s investment helped to lift Kenya’s total stock of foreign assets to Sh514.9 billion in 2022 from Sh452.8 billion a year earlier. Tanzania is now second, hosting 11.8 percent of Kenya’s foreign assets. Outside Africa, the United States is the most popular, hosting Sh29.2 billion or 5.7 percent of Kenya’s foreign assets in 2022.

If you’re re-entering the dating game after some time out, feel free to be cautious. No, that doesn’t mean you have to go slow. No, that doesn’t mean it will be easy to navigate. If your partner is unable or unwilling to treat you respectfully, letting go might mean letting go of the relationship. No, that doesn’t mean you need to sacrifice your beliefs or comfort level.

The International Labour Organization new Country Director for Ethiopia, Djibouti, Somalia, Sudan and South Sudan and Special Representative to the AU and ECA, Mr. Khumbula Ndaba, presents his credentials today to H.E. Melaku Bedada, the Director General of Protocol Affairs at the Ministry of Foreign Affairs of FDRE. Mr. Khumbula Ndaba arrived in Ethiopia this week following the appointment by the ILO Director-General, Gilbert F. Houngbo in April 2024. Mr. Khumbula Ndaba joined the Department of Public Service and Administration (DPSA) in 1999 as the Director of Labour Relations. In 2010, he rejoined the DPSA as the Deputy Director General and held the position until 2016.

July 17, 2024 (ADDIS ABABA) -Violence erupted in the Kumer region of northeastern Ethiopia, leaving several Sudanese refugees, including a child, injured. The armed clashes between Ethiopian Federal Police and an unidentified armed group have further destabilized the area, which is home to thousands of Sudanese refugees seeking safety. Approximately 6,000 Sudanese refugees residing in Ethiopia’s Awlala forest are enduring dire conditions. Tragically, 45 children have died in recent months, according to a report by the Sudanese Refugee Committee in the Amhara region. In a related development, the UNHCR has transferred 2,600 Sudanese refugees from the Kurmuk crossing center to a new settlement in the Aura area near Assosa, the capital of the Benishangul-Gumuz region in western Ethiopia.

One of these dedicated women can sort defects from up to 150 kg of raw coffee beans each day at the Hadero coffee processing plant. This photo taken by a mobile phone shows a machine roasting coffee beans at a coffee roastery in Addis Ababa, capital of Ethiopia, on June 8, 2024. "Ethiopia has been exporting green coffee beans for many years. We have to add value to it, as the price for value-added coffee is much higher than for green coffee. Ahmed, the company's director of business development, said China is now "an emerging and big coffee market" with greater market potential and incentives for Ethiopian coffee exporting companies.

Ethiopian spot Feru Bar and Restaurant in the Van Dorn Shopping Center (512 S. Van Dorn Street) recently won a spot on Washington Post food critic Tom Sietsema’s top five great affordable restaurants around the region (shoutout to Patch for spotting it). Sietsema praised not only the awaze tibs — a meat stew dish — but the down-to-earth atmosphere of the restaurant and the hard work of owner Firehiwot Bireka. Feru Bar and Restaurant is open from 11 a.m. to midnight Sunday-Wednesday, and until 2 a.m. on Thursday-Saturday. Washington Post said entrees range from $18 to $60 for a shared meat combination, though it’s worth noting many Ethiopian dishes can be shared as a group. Photo via Feru Bar and Restaurant/Instagram

Ahmed emphasized, “This diplomatic milestone marks a significant step in our collective aspiration for regional cooperation in the Nile Basin. It is “the first of many great things to come in all Nile River countries.”South Sudan’s Transitional National Legislative Assembly ratified the Framework Agreement on July 8. It is a significant milestone in the long-standing efforts to ensure equitable use and sustainable development of the Nile waters among the involved states, Fana Broadcasting Corporate informed. The Nile Basin Initiative (NBI), which celebrated its 25th anniversary this year, has been a key player in advocating for the transformation into a Permanent Nile Basin Organization. Its ratification is essential to transition from the NBI, a transitional arrangement, into the Nile Basin Commission, a permanent river basin organization.