Continental Conference Comes to Addis

Jan 12 , 2019


The sixth African Trade & Finance International Conference will be held in Addis Abeba for the first time on April 11 & 12, 2019. The conference, which had been held in Togo, Ivory Coast and Ghana in the past, is coming to Ethiopia through the partnership of the Addis Abeba Chamber of Commerce & Sectoral Association and Rescue Shipping & Investment Agency. “Logistics facilitates trade, so we are taking the initiative to drive the trade market in the right direction,” said Selasi Ackom, CEO of Rescue Shipping & Investment Agency. The conference will be attended by key players in African business, according to Mesenbet Shenkute, president of the Chamber. “We believe the Conference will create exposure for our local market and facilitate regional and continental integration,” she added.


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