China Proffers Third Medical Supply

Aug 29 , 2020


China completed the third round of its personal protective equipment (PPE) donation to Ethiopia, supporting its efforts to contain the spread of the Novel Coronavirus (COVID-19). The supplies consisted of 500,000 surgical masks, 65,000 protective face masks for medical use and 10,000 pieces of medical protective clothing. Surgical gloves, goggles and shoe covers are also part of the donation. The first batch in March was for 5.4 million face masks, 1.1 million detection test kits, 40,000 sets of protective clothing and 60,000 sets of protective face shields. The second batch consisted of 500 ventilators and 200,000 items of personal protective equipment. Both were from the foundations of Jack Ma and Alibaba to be distributed across African countries. The Chinese Chamber of Commerce in Ethiopia also announced it is going to donate a batch of medical supplies, including ambulances, ventilators and Intensive Care Unit (ICU) beds, as well as PPE.


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