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Corporation Gets New Deputy CEO

Jun 26 , 2021

The Ministry of Finance has named Mulualem Getahun as Deputy CEO of the newly-formed Liability & Asset Management Corporation. Mulualem has close to two decades of experience in finance and investment, including a stint at MIDROC Ethiopia and serving as Transport Director and then Deputy CEO of the Ethiopian Railway Corporation. The Council of Ministers approved a regulation to establish the Corporation in January 2021, and its main purpose is to soak up and administer the debts owed by state-owned enterprises (SOEs) to external lenders and the Commercial Bank of Ethiopia. The new Deputy CEO looks to have his work cut out for him as the Corporation will be in charge of administering residual debts worth over half a trillion Birr, the majority of which is owed by Ethiopian Electric Power. His former office, the Ethiopian Railway Corporation, owes 120 billion Br in debts while the former Metals & Engineering Corporation (MetEC) and the Sugar Corporation are on the line for around 70 billion Br each.

Radar

Arcane Markers

Hamere Berhan' at old post office prints books using ancient paper made from animal skin called 'Birana' .  The printing press is part of EOTC Ethiopian Tewahdo Orthodox Church which has had scribes for close to two millenia. Shortage of paper is still a problem in Ethiopia all newsapapers in the country are printed at one printing press , Birhana Selam around 4 kilo. This due to the fact there is a shortage of paper supply , no other printing press the government owned one have the forex to i...

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Green Shift

A palm tree is moved to a new location for replanting around Meskel square. The global effort to battle man made climate change has gained steam over the last few years. African countries have shifted gear in tryin to unlock climate financing from the global north. With debt to GDP ratios averaging around 62pc continent wide, many countries are utilizing the climate narrative to get debt structuring. This one of the appeals of the PM of Ethiopia when he addressed the AU summit a month ago...

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Strucural Makeover

Area around Ambassodor famous for its souvenir shops is getting demolished for real estate development. The A.A city administiration has ramped up efforts to remodel the city' s architecheure over the last few months. The capital was established by his majesty Emperor Menelik 137 years ago. He has also introduced the first telephone, car , hotel, hospital and host of other things to the country. A construction project headed by the mega projects office is 70 pc complete to commemorate his victor...

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