Addis Chamber Debuts Institute of Directors

Jul 15 , 2023


[ssba-buttons]

The first Institute of Directors set to work on the development of effective board leadership, organising certification and training programs giving consultancy and advisory services along with research advocacy and publication, was launched with the Addis Abeba Chamber of Commerce & Sectoral Associations (AACCSA) last week. Mesenbet Shenkute, president of AACCSA, emphasised the importance of developing competent board directors for overall company profitability. A week-long knowledge and experience-sharing program preceded the launch event held at the Hilton Hotel on Menelik Avenue last week. Longer-tenured members of the Kenyan Institute of Directors (IoD Kenya)offered their reflections. They indicated that proper usage of resources would be attained in perfecting governance and value proposition. "As Ethiopia is the new kid in the town, Kenya will be happy to continue assisting," said Nelson Kuria (PhD), chairman of IoD Kenya. The first country in the continent to have an institute of directors was South Africa in 1960. The Vice Governor of the National Bank of Ethiopia (NBE), Solomon Desta expressed the value of having a competent board to attain shareholder objectives. A panel discussion unfolded during the event with Brook Taye (PhD) from the Ethiopian Capital Markets Authority and Hikmet Abdella from Accounting & Auditing Boards of Ethiopia, Meshack Joram from IoD Kenya as participants. Brook indicated that the IoD will help in fulfilling the Authority's investor protection mandate.


Radar

Coffee Hub Illu Ababor Targets Bigger Share in Global Market

Illu Ababor Zone supplied more than 51,000 tons of coffee to the central market in the 2024/25 fiscal year, Deputy Administrator Mohammed Teha reported. The effort is part of the "Neqemte Initiative," designed to promote production, productivity, and quality in top foreign exchange earner. The zone spans over 700,000 hectares, including 300,000 hectares of newly planted and rehabilitated coffee and 400,000 hectares of wild varieties, cementing its role as a major coffee hub. Officials highlig...


Radar

From Loan to Tap, Ministry Secures Water Infrastructure Funds

The Ministry of Water & Energy has signed a cooperation framework with China Exim Bank, facilitated by contractor CGCOC, securing a 100 million dollars loan. State Minister for Drinking Water & Sanitation Ambassador Asfaw Dingamo (PhD) said the funding will finance water supply and sanitation infrastructure in five cities: Holeta in Oromia, Areka in the South, Inseno and Tora in Central Ethiopia, and Mizan Aman in the South...


Radar

Bureau Rolls Out QR-Enabled IDs for Inspectors

The Addis Abeba Revenues Bureau has equipped inspectors with QR (quick response) code-integrated ID cards to curb fraud and improve transparency. Launched in Mercato, the system lets merchants verify inspectors' identities via smartphone, deterring impersonation and extortion. Bureau head Biniyam Mikiru said the move strengthens technology-backed oversight and shields compliant taxpayers. Inspectors will also wear new uniforms to distinguish them from impostors. Merchants praised the reform, say...