Parliament Inquires Ministry Minimum Wage Law Status

Apr 3 , 2023


[ssba-buttons]

The delay in the implementation of the minimum wage law that has been in the making for several years was questioned by members of Parliament during the eight-month performance report last week. Muferihat Kamil, minister of Labor & Skills, answered that even though the Ministry has prepared a draft minimum wage law, the post-war economy will make it difficult to implement. The Minister said that unemployment cannot be tackled overnight and it will be addressed step by step while attracting and sustaining higher foreign direct investment is crucial to move forward. She also emphasized that unemployment cannot be addressed by the government reminding entrepreneurs, job seekers and the private sector to play their role. The Ministry achieved 83pc of its plan to create 2.6 million job opportunities over the past eight months, assisting over two million people to get employed. According to the report, 53.9pc job is located in rural areas. Over 200,000 people who graduated from higher education institutions benefit from the opportunities created with women taking more than half the post. Over 67,000 employees were trained to get 35 million dollars from overseas employment services by sending 46,322 employees to Middle East countries.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...