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.


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...