Ethiopia discussing selling 10% stake in Ethio Telecom via stock exchange, PM Abiy says, ET Telecom
AdvtJoin the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETTelecom App Get Realtime updatesSave your favourite articles Scan to download AppEthiopia's government is discussing selling 10% of state-owned telecoms company Ethio Telecom via a local stock exchange that is being launched this year, Prime Minister Abiy Ahmed said on Tuesday.Ethiopia's telecoms industry, serving a population of about 120 million, was considered a big prize when Abiy took over in 2018 and promised to liberalise the economy.But recurring security problems, legislative changes and concern about the government's commitment to opening up the tightly controlled economy have since deterred investors.French telecoms firm Orange said in November that it had decided to withdraw from buying a stake of up to 45% in Ethio Telecom, which held a monopoly before a consortium led by Kenya's Safaricom won the country's first private telecoms licence and started commercial operations in 2022.Abiy told a board meeting of government investment arm Ethiopian Investment Holdings on Tuesday that board members would "decide how to proceed regarding the second issue where we said we will sell 10% of Ethio Telecom's shares to the public via the capital market," according to a video clip of the meeting shared by state-affiliated Fana Broadcasting.A spokesperson for Abiy did not respond to requests for comment about how the board deliberations on Ethio Telecom concluded.Abiy described the launch of the East African country's stock exchange as "a game-changer, supporting Ethiopia in achieving its growth aspirations and attracting new capital" in a post on social media platform X on Tuesday.A telecoms industry insider said the plan was for the government to retain 45% of Ethio Telecom, sell 45% to investors and list 10% on the stock exchange.
Source:Ethiopian News
February 21, 2024 03:07 UTC
African Development Bank: High Cost of Living in Africa Could Cause Unrest
The African Development Bank is warning that the rising cost of energy, food and other commodities in several African countries, including Angola, Ethiopia and Kenya, could trigger social unrest. The African Development Bank's notice was contained in its biannual Africa Macroeconomic Performance outlook publication released last week. Security analyst Senator Iroegbu agrees with the African Development Bank's projections. The African Development Bank said Africa has several rapidly growing economies, such as Ivory Coast, Libya, Niger, Rwanda and Senegal. The African Development Bank says economic growth in Africa is expected to average 3.8% and 4.2% in 2024 and 2025, respectively — higher than projected global averages in the same period.
Source:Ethiopian News
February 21, 2024 00:33 UTC
Fani Willis gets 'achievement' award at church, cites 'weapons' Bible verses after chaotic court testimony
Embattled Georgia prosecutor Fani Willis spoke at a church service Saturday insinuating she finds solace in Biblical scripture following her contentious testimony during a court hearing last week regarding allegations she had an ‘improper’ affair with a colleague. Willis said in her remarks that supporters have sent her an Old Testament reference that reads, "No weapon formed against you shall prosper." "They did not say the weapons will not form, and that's the part I didn't hear until recently," Willis said. JUDGE WARNS FANI WILLIS OVER OUTBURSTS IN HEATED TESTIMONY"Even if you feel like everything you are doing in your life is the right thing, and you’re making mistakes all along the way, but you’re trying. BIGGEST TAKEAWAYS AFTER WILD 2-DAY HEARING ON FANI WILLIS AFFAIR: 'WHAT'S DONE IS DONE'Willis was largely combative in her testimony and verbally sparred with lawyers for hours.
Source:Ethiopian News
February 20, 2024 22:15 UTC
Cardinal Zuppi backs global appeal for ceasefire in Gaza
Israel’s embassy to the Holy See hit back against that statement, calling Parolin’s remarks “deplorable,” saying Hamas uses civilian infrastructure for terrorism and that since they started the fight, they are responsible for the casualties. His efforts in the Ukraine war have so far focused primarily on the humanitarian situation and on negotiating the return of Ukrainian children forcibly deported to Russia. “When we talk about the right to life there is, for example, the right not to suffer. Palliative care allows us to combat suffering” by making the person comfortable and loved through long-term accompaniment. Noting that the Italian parliament is continually weighing various proposals and petitions, Zuppi said the Church “will accompany the work of Parliament with great respect.”
Source:Ethiopian News
February 20, 2024 18:55 UTC
Senegal Leaves Presidential Election List Mainly Unchanged
Senegal's Constitutional Council on Tuesday published an amended list of candidates for a presidential election delayed from Feb. 25 to a yet undecided date, removing just one candidate from the initial list because she withdrew her application. President Macky Sall, who said the postponement was needed due to a dispute over the candidate list, later pledged he would abide with the court's decision and hold consultations to organize the vote as quickly as possible. The new candidate list was almost unchanged from the original list for the Feb. 25 vote apart from removing opposition contender, Rose Wardini, bringing the number of candidates down to 19 from an initial 20. The council said Wardini had withdrawn her application without providing further detail. Prominent opposition figures including the firebrand jailed politician Ousmane Sonko and Karim Wade, the son of former president Abdoulaye Wade, remained excluded.
Source:Ethiopian News
February 20, 2024 18:15 UTC
Amnesty International calls on Ethiopian authorities to stop using emergency law “to silence peaceful dissent”
Amnesty International has accused the Ethiopian authorities of using the state of emergency in the Amhara region “to silence peaceful dissent by arbitrarily detaining prominent politicians critical of the government and journalists” and has called for an end to this practice. Many civilian deathsMany civilians were killed by Ethiopian state troops in the Amhara region last month, as reported by The Guardian. The Fano fought alongside the Ethiopian Federal Army in the two-year civil war against the Tigray People’s Liberation Front (TPLF), which ended in November 2022. However, the government is now considering this group and other regional forces as a threat to its authority. No journalists, no internetThe Ethiopian government has banned journalists from traveling to the Amhara region and cut off Internet access.
Source:Ethiopian News
February 20, 2024 17:20 UTC
31st annual Noise Pop Festival takes over San Francisco
Celebrating its 31st year, the annual Noise Pop Festival kicks off Thursday with a packed schedule of local and national indie-rock acts that runs through March 3. While the focus remains on the cutting edge of indie rock, the eclectic festival also features modern R&B, global grooves and even avant-garde electronic music. Noise Pop will also be presenting shows at unusual new venues with multiple events at Grace Cathedral and Mission District art space Gray Area. Noise Pop Festival 2024 full line-up. Noise Pop IndustriesThe festival commences on Feb. 22 with the annual NightLife kickoff party at the Academy of Sciences with electronic acts Bodysync (a collaboration between dancefloor heavyweights Ryan Hemsworth and Giraffage), jarradcleofé, and discnogirl.
Source:Ethiopian News
February 20, 2024 17:09 UTC
Ethiopia China and UNIDO sign declaration on co-operation
The United Nations Industrial Development Organisation (UNIDO) has signed a Joint Declaration on trilateral cooperation to establish centres of excellence in the African country. Ethiopian Prime Minister Abiy Ahmed said on his social media account that the document focuses on agriculture, agribusiness, renewable energy and digitalisation. This is reported by Prensa Latina , a partner of TV BRICS. "My thanks to the Government of China and UNIDO for their fundamental role in facilitating this initiative. And a special thanks to UNIDO Director General Gerd Muller for his continued commitment to Ethiopia's development,” he stressed.
Source:Ethiopian News
February 20, 2024 15:36 UTC
From Mexico By Way of Portland, Dahlia Coffee Blooms In Cleveland
Combining the owner’s Mexican heritage with a Pacific Northwestern-bred passion for quality coffee, Dahlia Coffee has opened its first retail location in Cleveland, Ohio. “I wanted the colors to scream ‘Mexico!’, but in a modern way,” Dahlia Coffee Founder and Roaster Natalia Alcazar told Daily Coffee News. Alcazar, whose parents were born in Michoacán, Mexico, seeks to showcase Mexican culture while also bringing to bear her experiences drinking coffee in Portland, Oregon. “Growing up in Portland, I became obsessed with coffee,” Alcazar told Daily Coffee News. “It’s only two months old, but [the cafe] is receiving a lot of attention in Cleveland because I’m the only Mexican coffee shop in town,” said Alcazar.
Source:Ethiopian News
February 20, 2024 14:53 UTC
Etihad Airways unveils luxury new amenities for guests in all cabins
Luxury new amenity kits in partnership with Giorgio Armani; Filled with wellbeing and skincare items from luxury beauty brand, ESPA. The stylish new range features bespoke amenity kits for each premium cabin, as well as luxurious designer loungewear and slippers. These sought-after bags come in collectable colours and styles meaning frequent flyers can build their personal Giorgio Armani collection. Luxury Designer LoungewearThe Residence and First class guests are also gifted bespoke Giorgio Armani and Etihad loungewear and slippers, beautifully presented in the large Giorgio Armani folio bag. The Giorgio Armani slippers in a matching tonal print have a plush faux fur inner sole for additional comfort.
Source:Ethiopian News
February 20, 2024 14:46 UTC
Gloucester company helps actor debut coffees
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Source:Ethiopian News
February 20, 2024 14:43 UTC
Highclere Castle Spirits, Foundation Cigar partner to raise money for the Royal Ethiopian Trust
Connecticut entrepreneurs, Adam von Gootkin, founder and CEO of Highclere Castle Spirits in Essex, and Nicholas Melillo, founder and CEO of Foundation Cigar company in Ellington, partnered with Prince Ermias Sahle-Selassie, grandson of Ethiopian Emperor Haile Selassie, to form the Royal Ethiopian Trust. A fundraising event was held Feb. 9 at the Dickinson Mansion in Essex to honor the launch of the trust, sponsored by Highclere Castle Gin. Cocktails were created fusing Highclere Castle Gin with Ethiopian Tej honey wine. The release also stated donations have been made to students in Ethiopia providing funding for college tuition for 300 students this year. To learn more about the Royal Ethiopian Trust, please visit royalethiopiantrust.org.
Source:Ethiopian News
February 20, 2024 14:07 UTC
Ethiopia Gains USD 1.5 Billion in Exports
The Ministry of Trade and Regional Integration (MoTRI) has recently announced that the country has generated USD 1.53 billion in revenue from agricultural, manufacturing, and mining exports.This amount represents a substantial portion of the targeted $2.39 billion earnings within a six-month period. The country's key export products encompass a wide range, including fruits, vegetables, coffee, gold, textiles, and more. Notably, there has been a notable increase in grain and oilseed exports compared to the previous year. Issues such as maintaining product quality, ensuring access to credit, and combating illegal trading activities require attention. However, the Ministry stated that it was actively engaged in collaboration with various stakeholders to address these challenges effectively.
Source:Ethiopian News
February 20, 2024 14:06 UTC
British Museum accused of silencing critics after being targeted on social media to return Easter Island statues
The British Museum has been accused of trying to silence its critics after calls for moai statues be returned to Easter Island went viral on social media. He said: “I've interviewed scores of British Museum staff, but I've always wanted to chat with their social media manager. The twitter post that the British Museum made in solidarity with the George Floyd protests, just to give one example, backfired fantastically. The spokesperson also cited the British Museum Act 1963, which prevents the museum from removing objects from the collection. But if these campaigns focus on national museums such as the British Museum, attention also needs to be directed towards British law.
Source:Ethiopian News
February 20, 2024 13:22 UTC
News: Despite improvement, isolated forced displacement of Tigrayans continue after Pretoria deal: Rights Commission
Daniel Bekele, Chief Commissioner for Ethiopian Human Rights Commission (Photo: Addis Standard)Addis Abeba – The Ethiopian Human Rights Commission (EHRC) has released a report that underscores the persisting challenges present in the Tigray region. The report indicates that despite a noticeable decline in widespread forced displacement following the Pretoria Cessation of Hostilities Agreement (CoHA) signed in November 2022, isolated incidents persist, exacerbating grave human rights violations. Today, the Commission released a 40-page report subsequent to its evaluation of the prevailing human rights conditions across the five zones of the Tigray region from 7-30 July, 2023. The findings of the report emphasize a substantial decrease in mass forced displacement subsequent to the Pretoria Peace Agreement. Despite being unable to physically access Alamata, the EHRC verified the dissemination of these flyers and subsequent urgent notifications.
Source:Ethiopian News
February 20, 2024 12:57 UTC