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Lawmakers Give Green Light to Privatisation Bill

Jun 14 , 2020

A privatisation bill, which will buffer the privatisation process of state-owned enterprises, was legislated by lawmakers last week. It was approved with 16 against and three votes abstaining during a session that was attended by 292 MPs. The proclamation, which replaces its two-decade-old predecessor, recognises the Council of Ministers and the Ministry of Finance as stakeholders in the privatisation process. The privatisation process will be made within the mandates of the Public Enterprise Holding & Administration Agency. The proclamation was drafted by the Ministry of Finance and the Public Enterprises Holding & Administration Agency with technical support from the World Bank Group and the Tony Blair Foundation. It also requires the revenue from privatisation to be deposited in a special account designated for the Industrial Development Fund administered by the Ministry of Finance after the associated costs of the transaction are removed.

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ARCANE MARKERS

Hamere Berhan' at the old post office prints books using ancient paper made from animal skin called 'Birana'.  It is part of the Ethiopian Orthodox Tewahdo Church which has had scribes for close to two millennia. The shortage of paper is evident with close to 10 companies operating in the paper conversion industry and a single paper mill in the country. Local players have seen their market share drop over the years and are looking to regain it. ...

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GREEN SHIFT

A palm tree is moved to a new location for replanting around Meskel square. The global effort to battle man-made climate change has gained steam over the last few years. African countries have shifted gears in trying to unlock climate financing from the global north. With debt-to-GDP ratios averaging around 62pc continent-wide, many countries are utilizing the climate narrative to get debt structuring. This was one of the appeals of the Prime Minister of Ethiopia when he addressed the AU summit...

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STRUCTURAL MAKEOVER

The area around Ambassador, famous for its souvenir shops, is getting demolished for real estate development. The Addis Abeba City Administration has ramped up efforts to remodel the city's architecture over the last few months. The capital was established by Emperor Menelik 137 years ago. He also introduced the first telephone, car, hotel, and hospital to the country. A construction project headed by the mega projects office to commemorate his victory over the Italians at Adwa is 70pc complete...

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