African Union Changes Guards

Feb 18 , 2023


[ssba-buttons]

Azali Assoumani, president of Comoros, chairs the African Union (AU) for the next four years. The military officer has served as President of Comoros, a country found in southeastern Africa, since April 2019. He became head of state after staging a coup d'état in 1999 and was elected president from 2002 to 2006 and again from 2016 to 2019. The 36th African Union Summit unfolded in the capital last week which saw the attendance of leaders of African countries at AU headquarters in Addis Ababa. Three sessions of the Executive Council and AU Assembly were scheduled to endorse the policies. AU formerly known as the Organisation of African Unity was established in 1963, having Egypt, Ethiopia, Liberia, and South Africa as its founding members. It now consists of the 55 member states that make up the African Continent.


Radar

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...