Ukrainian Foreign Policy Eyes Africa

May 27 , 2023


[ssba-buttons]

A bilateral Trade Commission between Ethiopia and Ukraine may see the light of day, Ukrainian Foreign Minister Dmytro Kuleba revealed.  He met Prime Minister Abiy Ahmed last week with the aim of lobbying for "mutual respect, interest and benefit". He cited pharmaceutical advancements, agricultural products, digital infrastructure and cyber security as areas of strength Ethiopia could benefit from Ukraine. The Minister is the first diplomat from Ukraine to visit Ethiopia. He said the current administration led by Volodymyr Zelenskyy wished to "reinvigorate" a relationship citing that the Zelensky Initiative successfully exported two-thirds of Ukraine's agricultural products to Africa, the Middle East, and Asia. During a press conference at Hilton Addis, the Minister expressed disappointment in not maintaining a strong relationship with African countries, stating, "we lost." However, he expressed satisfaction with his meeting with the Prime Minister and anticipates further discussions to identify areas of partnership between the two countries.


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...


Radar

Export Recovery Gains Ground, Industry Still Lags Potential

The Ministry of Industry (MoI) has reported a modest rebound in Ethiopia's manufacturing exports, with revenues climbing eight percent in the 2025 fiscal year to reach 318 million dollars. Minister Melaku Alebel attributed the growth to a gradual sectoral recovery but acknowledged the figures remain well below the country's industrial potential. Speaking at a forum held with 60 top-performing manufacturers, Melaku said the ministry is working to unlock bottlenecks and improve coordination. Th...