Local Professionals to Take Over Management of Railway

Nov 16 , 2019


[ssba-buttons]

The Ethiopia-Djibouti Standard Gauge Railway (EDR) will start transferring captaincy to locals from the Chinese by the end of next year. Sixty-five young train drivers from Ethiopia and Djibouti will travel to China to undertake theoretical and technical training. Currently, a consortium of Chinese companies manages all the maintenance, rail captaincy and control operations of the 752Km-long railway that connects Addis Abeba to neighbouring Djibouti. Such transfer of knowledge and expertise will require from one year to a maximum of six years of theoretical and practical training depending on the nature of each task, according to Tilahun Sarka, director general of EDR. Thus far, a total of 600 local professionals have received training related to the normal functioning of the railway system. The railway is currently used to transport freight including perishable goods, vehicles, cereals and fertilizers from the Djibouti port to Addis Abeba.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


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...