Foreign Policy of South Korea Eyes Africa


Foreign Policy of South Korea Eyes Africa

The Republic of Korea prepares to host the first Korea-Africa Summit in 2024. Jang Sungamin, senior secretary for future strategy, has made an upturn in Addis Abeba amidst the 36th African Union summit giving emphasis on the foreign policy eyeing Africa. Using the "teach a man to fish you will feed him for a lifetime" analogy Jang stated that South Korea has mastered the technique and wants to share it with Africa. Korea has been providing the highest a month of Offical Development Assistance (ODA) to Ethiopia than any other African country, including 168 million dollars for 26 projects in water management, health, rural development, transportation, and education since 1991. Ethiopia receives a large number of loans from South Korea. In 2019, Korean Exim Bank provided 264 million dollars as a loan of which 170 million dollars for national electricity projects.

[ssba-buttons]

Radar

State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...


Radar

MIDROC Cocoa Drive, Local Production Focus on Value Addition

MIDROC Investment Group is placing a bold wager on cocoa in the lowlands of Sheka. Building on extensive trials at the Bebeka Coffee State Farm, the company has introduced globally prized Forastero, Trinitario, and Criollo varieties alongside coffee. "The results are astonishing," said General Manager Beshada Worku, pointing to international prices that range from 8,200 to 14,000 dollars a ton. The project's first phase covers 50 hectares, with 44,000 seedlings already planted. Expansion to ...


Radar

Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...