Premier Names Interim Executive for Tigray State

Nov 14 , 2020


Mulu Nega (PhD) has been appointed chief executive of the Provisional Administration of Tigray Regional State. Nominated by Prime Minister Abiy Ahmed (PhD), the chief executive is expected to recruit and elect officials to lead the executive organs of Tigray Regional State from political parties functioning in the region. Previously, Mulu was serving as state minister for Science & Higher Education. The appointment comes following a regulation, endorsed by the House of Federation, for the establishment of a provisional administration in the Regional State. The regulation was drawn up by the Council of Ministers. Nearly two weeks ago, the parliament had issued a state of emergency effective in Tigray Regional State, to be executed through a task force, whose members were appointed by the Prime Minister and is chaired by the Army Chief of Staff. The task force reports directly to the Prime Minister. The task force formed to execute the state of emergency decree in Tigray Regional State can impose curfews, prohibit any movement of firearms in the Regional State, halt any kind or mode of transportation from and to the Regional State, and cut off any communication lines in the Regional State, according to Attorney General Gedion Timotios (PhD).


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