Capital Ushers Job Creation Forum

Jul 8 , 2023


  A forum on accelerating entrepreneurship, digital and financial inclusion in light of the African Continental Free Trade Area (AfCFTA) was held at the headquarters of the African Union last week. The African Entrepreneurship Forum pins its agenda on an investment integration roadmap and viable schemes of job creation for the rising unemployment rate in the continent. Minister of Labor & Skills Muferihat Kamil opened the forum by indicating the importance of enhancing the skills of employees to create reliable and quality jobs. The youth constitute around 60pc of the unemployment pool in Africa. According to the World Economic Forum's 2022 forecast, young Africans will constitute 43pc of the global youth population by the year 2030. The event included panel discussions on unemployment, work culture and job creation with several entrepreneurial figures in the country.


Radar

Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


Radar

Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


Radar

Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


Back
WhatsApp
Telegram
Email