Institute establish Code of Conduct

Apr 20 , 2019

Ethiopian Institute for Corporate Governance has prepared a code of conduct for share companies. The code, which was launched at a meeting held at Hyatt Regency Hotel on April 18, 2019, covers issues related to the overall activities of share companies. The code is one of the achievements of the institution that can be used as a guideline for companies to form their own corporate governance code, according to Tehtena Legese, board member and managing director of Waryt Mulutila International Plc. The Institute was launched in 2013 to operate under the Addis Abeba Chamber of Commerce & Sectoral Associations. The Institute, which so far has enlisted 148 public and private businesses as members, seeks to regulate the conduct of businesses toward the evolution of a dynamic, ethical and responsible business community.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...