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Governor of Central Bank to Chart Course in BRICS Negotiations

Jan 9 , 2024


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As Ethiopia officially joins the BRICS team, Mamo Mihretu, governor of the National Bank of Ethiopia (NBE), has been appointed as Sherpa, and Mesganu Arega, the State Minister for Foreign Affairs, as Sous Sherpa. They are expected to represent Ethiopia and engage in high-level discussions and negotiations within the BRICS framework, promoting national interests and contributing to the partnerships. The invitation to join BRICS came during the BRICS Summit in August 2023. A national ministerial and a senior official coordination committee is established to lay the groundwork to ensure Ethiopia's active participation in BRICS. Ethiopia's commitment to South-South cooperation was accentuated in a statement released by the Ministry of Foreign Affairs.


Radar

Parliament Receives $237m Development Loan Package

The Council of Ministers forwarded two concessional loan agreements totalling 237.3 million dollars to Parliament for ratification, targeting rural infrastructure and food security. The package includes 46.3 million dollars from the African Development Bank (AfDB) for climate-resilient infrastructure in pastoralist regions. A second credit facility of 191 million dollars (146.1 million SDR) from the International Development Association (IDA) is earmarked for the sixth phase of the Productive Sa...


Radar

MoTRI to Overhaul Consumer Protection Rules Following Cabinet Approval of Trade Policy

The Council of Ministers, led by Prime Minister Abiy Ahmed (PhD), approved Ethiopia's first unified trade policy last week, ending a three-year deliberation period to fill a decades-long regulatory vacuum,. This institutional milestone mandates the Ministry of Trade & Regional Integration (MoTRI) to overhaul consumer protection frameworks, specifically requiring a rigorous revision of the Trade Competition and Consumer Protection Proclamation to eliminate market distortions and the prolifera...


Radar

Regional Power Exports Yield $366m as Capacity Hits 9.6GW

Ethiopian Electric Power (EEP) generated 365.99 million dollars from regional exports in the first nine months of the fiscal year as national capacity reached 9,579MW. The revenue followed the sale of 24,940GWh, representing 91pc of gross generation. Hydropower remains dominant, providing 9,500MW. To diversify assets and mitigate climate risks, the utility integrated the 100MW Asela Wind Power Project. The transmission network has expanded to 148,600km to secure domestic industrial supply and...