Ethiopia Forms Economic Advisors Council

Dec 19 , 2020


The administration of Prime Minister Abiy Ahmed has formed a 16-member Independent National Council of Economic Advisors who will be advising the government on economic matters. The Council consists of Eleni Gabre-Madhin, former CEO of the Ethiopian Commodity Exchange; Alemayehu Geda, a renowned economist; Alula Pankhurst, development scholar and son of the historian Richard Pankhurst, and Lemma Wolde-Senbet, an academic with vast experience in finance. The Office of the Prime Minister issued an invitation to willing professionals to submit their names for consideration a year ago, citing the successful implementation and continuity of the ongoing economic reforms and the promotion of inclusive economic development as its main reasons for establishing an independent council. Around 290 candidates answered the call and, after a thorough three-step screening process, 16 of them were selected to make up the country's first-ever independent Economic Council. The Council is expected to be a regular source of independent, objective and evidence-based advice to the government regarding economic policy.  "The Council would enable the comprehension of the complex social issues and poverty facing the country and the exploration of favourable economic policies," reads a statement from the Office of the Prime Minister.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email