Gates Foundation Launches Livestock Medicine Supply


Al-Impex Import & Export has begun distributing livestock medicine supplied by the Bill & Melinda Gates Foundation. Al-Impex Import & Export, which is the correspondent for Zoetis, the US-based company, started the distribution of medicine by being a local partner of the Foundation. The two launched the initiative on September 20, 2019. Zoetis launched African Livestock Productivity & Health Advancement Initiative in May 2017 to establish sustainable veterinary diagnostic networks and animal health infrastructure in Uganda, Nigeria, followed by Tanzania and Ethiopia in 2018. Funded by a 14.4-million-dollar grant from the Foundation and co-founded by Zoetis, the initiative aims to improve livestock health and positively impact farmers livelihood in Sub-Saharan Africa. The grant will enable Zoetis to develop veterinary laboratory networks and outreach services to increase the availability of local medicine and services, implement disease diagnostics and strengthen local veterinary expertise. Sub-Saharan Africa has some of the largest livestock populations in the world. Nigeria has 144 million chickens and 131 million ruminants. Ethiopia has 57 million cattle, Uganda has 3.2 million and Tanzania has 107 million livestock.


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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...


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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...


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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...


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