Oromia State Receives Medical Supplies

Oct 24 , 2020


Local governments in China, along with Chinese companies that have invested in Oromia Regional State, have supplied the Regional State with medical supplies to support the ongoing fight against the Novel Coronavirus (COVID-19) pandemic. The donations include 350,000 face masks, 4,000 pieces of personal protective equipment, and 20 ventilators. Jiangsu Province, Ningxia Hui Autonomous Region, together with the China Chamber of Commerce in Ethiopia (CCCE) handed over the donation to the Deputy Administrator of the Regional State, Shimelis Abdissa, and the head of the Oromia Health Bureau, Mengistu Bekele (MD), during a ceremony at the end of last week. Oromia Regional State has the second-highest number of COVID-19 cases in the country, following Addis Abeba.


Radar

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...


Radar

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...


Radar

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...


Back
WhatsApp
Telegram
Email