TradeMarkAfrica Appoints Hailemariam Desalegn as Board Chair

Sep 8 , 2024


[ssba-buttons]

TradeMarkAfrica (TMA) has announced the appointment of Hailemariam Desalegn, former Prime Minister of Ethiopia, as its new Board Chair. Hailemariam will lead TMA as it focuses on increasing African exports, supporting the African Continental Free Trade Area (AfCFTA), and expanding its operations into Western and Southern Africa. He will work closely with regional economic communities, national institutions, the private sector, and international partners. He succeeds Erastus Mwencha, who served in the role for eight years. Hailemariam's first major task will be to lead the Trade Development Forum (TMA-TDF) in Kigali, Rwanda, on December 2-3, 2024. Co-hosted by TMA and the Government of Rwanda, the forum will address TMA's agenda for Digital Trade in Africa. Hailemariam will oversee TMA’s seven-year strategy (2023-2030), which aims to reduce cross-border transportation costs, enhance market access for SMEs, and improve the value and quality of traded goods. The strategy also focuses on positioning Africa as a leader in green trade, increasing investment in trade infrastructure, and ensuring that trade benefits reach the poorest, especially women and youth.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...