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PM Inaugurates Renamed Leadership Academy

June 26 , 2021

PM Inaugurates Renamed Leadership Academy

The newly renamed African Leadership Excellence Academy in Sululta, Oromia Regional State inaugurated on Saturday, June 26, 2021, in the presence of Prime Minister Abiy Ahmed (PhD), Deputy Prime Minister and Foreign Minister Demeke Mekonnen, and several other senior government officials. The 2.2 billion Br academy, which sits in a 40ht compound, was built by the Chinese construction firm Jiangsu Nantong Sanjian with major financial support from the Chinese government. Earlier this week, the Council of Ministers approved the motion to change its name from the Meles Zenawi Leadership Academy.

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Dire Dawa Free Trade Zone Ready for Next Steps

The Industrial Parks Development Corporation (IPDC) has announced it has finalised preparations to transform Dire Dawa Industrial Park into the country's first free trade zone (FTZ). The announcement comes a month after officials at the Ministry of Transport & Logistics chose the Park as the first of several FTZs and special economic zones the government plans to establish. Officials say they selected Dire Dawa due to its proximity to ports, market potential, and suitability for multim...

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Radar

Banking Industry Profits Near 50b Br

The banking industry netted close to 50 billion Br in profits in the last financial year, according to a report from the National Bank of Ethiopia (NBE). The report lauds "remarkable" growth in deposit mobilisation and credit disbursement. Bank assets have soared to 24 trillion Br, while deposits are up to 1.7 trillion Br. Governor Yinager Dessie (PhD) said the financial sector has continued to perform despite challenges. Among these was a four-month suspension on collateralised loans the...

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Radar

South West Regional Council Approves Multi-Capital Bill

The council of the country's newest regional state has approved a bill that would see the regional administration seated in four separate towns of equal status. Bonga town will host the office of the South West Regional State's president. Tercha town will be the seat of the regional council, Mizan Aman will host the regional judiciary, and the region's national council will be seated in Tepi. Ameya and Jemu towns will also host the head offices of regional institutions and agencies. The...

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