Ethiopia Improves Corruption Index Rating

Jan 31 , 2021


Ethiopia has shown a slight improvement in the 2020 Corruption Perceptions Index (CPI), released by Transparency International last week. The country is currently ranked 94 out of 180 countries with a score of 38/100. The ranking is marginally better than the previous year when the country was ranked 96 and scored 37. The year before that, Ethiopia was ranked 114 with a score of 34. This year, Ethiopia shares the same rank with seven other nations including Tanzania, Brazil and Afghanistan. More than two-thirds of the countries featured on the Index scored lower than 50, with Somalia and South Sudan coming last in the rankings. The CPI rankings are determined using a composite of 13 surveys and assessments of public sector corruption, according to Transparency International, a German NGO founded in 1993.


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