Capital Gears Up for AU Summit

Feb 4 , 2023


African Union Summit will unfold in the capital from February 15-19, 2023. Three sessions of the AU Assembly and Executive Council are scheduled to endorse policies through a round of discussion for five days. Dubbed "Acceleration of AfCFTA Implementation", the session will begin with Permanent Representatives' committee meetings and continues to the Executive Council Ministry of Foreign Affairs. The intra-African trade agreement was established in 2018 with the goal of deepening trade ties between African countries by removing tariff and non-tariff barriers. Under the AfCFTA, Africa's expanded goods and labour markets will become more efficient, driving significant competition between the countries, according to a study conducted by the IMF. The National Committee, established to oversee preparations, discussed with representatives of the hotel and tourism sectors.  In the discussion, Birtukan Ayano, state minister for Foreign Affairs said the tourism industry players are essential to make Ethiopia a top conference tourism destination by offering excellent services to AU summit participants. The Minister of State for Tourism, Selamawit Dawit, said the upcoming conference is an opportunity to showcase the country's potential in the field of conference tourism, stating that the Ministry has prepared tour programs for the guests.


Radar

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


Back
WhatsApp
Telegram
Email