Investing In Black Founders: Richelieu Dennis Essence Ventures Founder Is Revolutionizing Black Entrepreneurship
Photos: YouTube ScreenshotsRichelieu Dennis, the visionary founder of Essence Ventures, is revolutionizing the world of Black entrepreneurship. Driving Change in the Black Business CommunityEstablished in 2017, Essence Ventures is an independent Black-owned venture capital firm. By offering capital, mentorship and resources, Essence Ventures seeks to empower Black founders while dismantling the systemic barriers that have historically hindered their access to funding and opportunities. In addition to founding Essence Ventures, Dennis established the New Voices Fund, a $100 million initiative that provides capital and resources to women of color entrepreneurs. This trailblazing fund seeks to bridge the funding gap faced by women of color and bolster their entrepreneurial endeavors.
Source:Ethiopian News
July 15, 2023 04:57 UTC
Thrilling Finish In Uganda Women’s Track Meet
Gamba won $50 donated by New York-based The Black Star News, while Achola won a Mizuno track suit; third placer Emma Oroma earned a Mizuno jump suit. [Sports]In Uganda’s women’s Athletics Kampala 2nd Track & Field Trial this morning Mildred Gamba edged Achola Janet at the finish winning the 400 meters race with a time of 57.80 against 57.87. The race took place at Makerere University, Uganda’s premier learning institution. The contest lived up to its billing as the two top young athletes were separated by inches at the thrilling finish. Gamba won $50 donated by New York-based The Black Star News, while Achola won a Mizuno track suit; third placer Emma Oroma earned a Mizuno jump suit.
Source:Ethiopian News
July 15, 2023 03:59 UTC
WCC signs joint letter expressing concern over suspension of food aid in Ethiopia
[World Council of Churches] The World Council of Churches joined Caritas Internationalis, ACT Alliance, World Evangelical Alliance and Lutheran World Federation in signing a joint letter to United States Agency for International Development (USAID) administrator Samantha Power expressing concern over the suspension of food aid in Ethiopia. The letter conveys statements issued by the Ethiopian Orthodox Tewahedo Church, by the Catholic Bishops’ Conference of Ethiopia together with the Ethiopian Evangelical Church Mekane Yesus, and by the Ethiopian Catholic Eparchy of Adigrat regarding the suspension of food aid to Ethiopia by USAID and consequently also by the World Food Programme. Read the entire article here.
Source:Ethiopian News
July 15, 2023 01:26 UTC
Chinese Investment Projects in Ethiopia Reach USD 4.8 Billion
The Chinese Ambassador to Ethiopia, Zhao Xiuan, revealed that Chinese companies had created 560,000 job opportunities in Ethiopia. According to the Ambassador, 1,835 direct Chinese investment projects worth USD 4.8 billion have been invested in Ethiopia. Chinese companies have built industrial parks, railway transport facilities, road and communication infrastructures, and are working towards realizing Ethiopia's long-term development plan. It is to be recalled that China allowed Ethiopia to become a beneficiary of its zero-tariff treatment starting from March 1, 2023. The treatment allows 98% of items exported from Ethiopia to enter China duty free.
Source:Ethiopian News
July 15, 2023 01:23 UTC
Egypt, Ethiopia agree over a deal on controversial mega-dam
Egypt and Ethiopia have signed an agreement on a deal over a controversial mega-dam on the Blue Nile after years of tension between the two. Image by flickr.comEgypt and Ethiopia agreed Thursday 13 July 2023 to finalise a deal over Ethiopia’s controversial mega-dam on the Blue Nile within four months, a breakthrough after years of tensions between the two countries. They agreed “to initiate expedited negotiations to finalise the agreement between Egypt, Ethiopia and Sudan on the filling” of the dam and its operation within four months, the statement said. ALSO READ: Ethiopia launches fourth filling of a disputed damWill Sudan join? Protracted negotiations over the filling and operation of the dam since 2011 have failed to bring about an agreement between Ethiopia and its downstream neighbours.
Source:Ethiopian News
July 14, 2023 23:27 UTC
UN experts condemn Ethiopia's summary expulsion of Eritreans at end of June
UN experts today* condemned Ethiopia's summary expulsion of hundreds of Eritreans at the end of June. They called on the authorities to immediately halt any further deportations and put an end to the continuing reports of arbitrary detention of Eritrean refugees, asylum-seekers and migrants. “There is no information on the fate or whereabouts of those deported since their return to Eritrea,” the experts said. “The lack of registration and accompanying documentation places refugees and asylum-seekers in a situation of heightened vulnerability and hinders their access to their human rights in Ethiopia,” the experts said. “It also appears that the authorities are specifically targeting Eritreans, a practice that constitutes discrimination.”
Source:Ethiopian News
July 14, 2023 22:50 UTC
Applications For Cohort 5 Of The Jasiri Talent Investor Program Are Now Open.
PRESS RELEASE | July 17, 2023Applications for Cohort 5 of the Jasiri Talent Investor Program are now open. Jasiri is specifically inviting young people from Ethiopia, Kenya, and Rwanda to apply for its Cohort 5 of the Talent Investor program. Those selected as finalists, called ‘Jasiri Fellows’, will participate in the fully-funded 13-month Jasiri Talent Investor Program. According to Jasiri Regional Director Aline Kabanda, Jasiri Talent Investor is a community of like-minded innovators, where collaboration and collective growth are paramount. The application for the fifth cohort of Jasiri Talent Investor Program will open on July 17, 2023 and close on October 17, 2023.
Source:Ethiopian News
July 14, 2023 21:45 UTC
Africa: Egypt, Ethiopia Agree to Resume Negotiations on Controversial Nile Dam
Harare — Egypt and Ethiopia have agreed to finalise an agreement over Ethiopia's contentious Blue Nile mega-dam within four months, marking a breakthrough after years of tensions between the two nations, according to AFP. Since Ethiopia began construction on the enormous U.S.$4,2 billion Grand Ethiopian Renaissance Dam (GERD) in 2011, Egypt has been concerned that the project may reduce the amount of water it receives from the Nile. Within four months, they decided "to initiate expedited negotiations to finalise the agreement between Egypt, Ethiopia and Sudan on the filling" of the dam and its operation. The filling and operation of the dam have been the subject of protracted discussions since 2011, but no agreement has been reached between Ethiopia and its downstream neighbours. Egypt, which depends on the Nile for 97% of its water demands, has long seen the construction as an existential danger.
Source:Ethiopian News
July 14, 2023 21:36 UTC
Africa presents opportunities for Asian investors – New Business Ethiopia
Urama made the call during a webinar to discuss the 2023 edition of the African Economic Outlook report. The African Development Bank organized the session jointly with the Korea Institute for International Economic Policy (KIEP) in Sejong-Si, Korea. Asian Countries Investments in AfricaOver the past two decades, there has been a significant increase in Asian investment in Africa. China has been one of the most prominent Asian investors in Africa. The report stated that other Asian countries, including Japan, South Korea, and Singapore, have also shown interest in investing in Africa.
Source:News Business Ethiopia
July 14, 2023 21:35 UTC
Ethiopian-Eritrean restaurant Teff to relocate within Stamford
STAMFORD — Teff, a restaurant on the city’s West Side that serves Ethiopian and Eritrean cuisine, will move within the city, to a larger location in the downtown. As noted on its Instagram account and in window signs, the restaurant will close Sunday at 113 W. Main St. — culminating an eight-year run at its current address. It plans to then re-open in mid-September at 84 W. Park Place. At 113 W. Main, Teff has occupied 1,650 square feet, with about 40 seats. Currently, the parking on West Main Street near Mill River is signed for two-hour parking, which is free of charge with a time limit.
Source:Ethiopian News
July 14, 2023 20:54 UTC
Black Restaurant Week aims to showcase diverse cuisines, uplift Black business owners
Porter’s restaurant, Stacy’s Island Flavor, is one of around 20 participating in the third edition of Black Restaurant Week in the Toronto area, which kicked off July 7 and runs through Sunday. A Statistics Canada study published in February, which compared the socioeconomic characteristics of Black business owners in Canada with their white and other racialized counterparts, outlined further challenges. The study cited a Black Business and Professional Association survey which showed 81.4 per cent of Black female business owners reported having used their own funds to start their business. “It’s hard for a Black-owned business to promote themselves for exposure,” he said. Jerk has one meaning and it’s the process of how you get it done.”Porter said she hopes Black Restaurant Week can provide the opportunity to attract the attention of new customers — and their tastebuds.
Source:Ethiopian News
July 14, 2023 18:42 UTC
Jewelry, ornate pottery show 3,000-year-old Cypriot city was a key trading hub, scientist says
Professor Peter M. Fischer from the University of Gothenburg, Sweden, said the city now known as Hala Sultan Tekke because of its proximity to a famous mosque flourished in 1,630-1,150 B.C. Fischer, who concluded excavations at the site this year, said evidence now suggests “the great importance” of the ancient city, rivaling the majesty of Enkomi, considered the most important Bronze Age Cypriot city because of its unique layout. Cyprus’ Antiquities Department said other discovered objects include sophisticated jewelry, daggers, knives, spearheads and a mirror of bronze. Fischer said the discoveries confirm that the late Bronze Age was the first “international” period in the Mediterranean. The nearby port city of Kition, founded around 1,300 B.C., picked up the mantle from Hala Sultan Tekke.
Source:Ethiopian News
July 14, 2023 18:33 UTC
Moroccan FM meets Ethiopian, Malawian counterparts on ties, cooperation
RABAT, July 14 (Xinhua) -- The Moroccan foreign minister met separately with his Ethiopian and Malawian counterparts in Nairobi, the capital of Kenya, to discuss strengthening bilateral relations in various fields, Moroccan official news agency MAP reported on Friday. The two meetings took place on Thursday on the sidelines of the 43rd Ordinary Session of the African Union (AU) Executive Council meeting, which was held in Nairobi on July 13-14, according to MAP. Moroccan Foreign Minister Nasser Bourita discussed with Ethiopian Deputy Prime Minister and Minister of Foreign Affairs Demeke Mekonnen Hassen ways to develop bilateral ties in various sectors, said the report. Bourita also met with Malawian Foreign Minister Nancy Tembo, reviewing bilateral cooperation fruits and examining prospects for strengthening these cooperations, it added. The AU meeting kicked off on Thursday in Nairobi, with a focus on regional integration in Africa.
Source:Ethiopian News
July 14, 2023 18:33 UTC
UN Experts Urge Ethiopia To Halt Mass Deportation Of Eritreans
UN Experts Urge Ethiopia To Halt Mass Deportation Of EritreansGENEVA (13 July 2023) – UN experts today* condemned Ethiopia's summary expulsion of hundreds of Eritreans at the end of June. They called on the authorities to immediately halt any further deportations and put an end to the continuing reports of arbitrary detention of Eritrean refugees, asylum-seekers and migrants. “Several cases of family separation have been reported following the mass deportations, with parents forced back to Eritrea and children left behind in Ethiopia,” the experts said. “There is no information on the fate or whereabouts of those deported since their return to Eritrea,” the experts said. “The lack of registration and accompanying documentation places refugees and asylum-seekers in a situation of heightened vulnerability and hinders their access to their human rights in Ethiopia,” the experts said.
Source:Ethiopian News
July 14, 2023 18:29 UTC
Ethiopia and Nigeria Swap $100M For Local Currency
In a bid to mitigate the shortage of dollars which is currently affecting most African countries, the central banks of Ethiopia and Nigeria have swapped $100M in blocked funds. This deal involved the swapping of revenues of Ethiopian Airlines from Nigeria and earnings of Dangote Cement in Ethiopia, which has been struggling to repatriate profits due to forex shortages in both countries. This swap deal would enable Ethiopia to access funds that they have been struggling to gain from Nigerian banks, likewise, Nigeria would get access to money which have been stuck in Ethiopia. This situation was what caused the CBN to offer Dangote Cement the option of a currency swap proposal which would allow the exchange of its excess Ethiopian birr for USD held by overseas firms which are operating in Ethiopia. Other sources also claim Dangote still has over $200M stuck in Ethiopia.
Source:Ethiopian News
July 14, 2023 17:41 UTC