September 7, 2024
Based on the agreement, the two countries will trade in Birr and Yuan, aiming at strengthening their economic ties and business relationships.
This agreement was reached during talks between Ethiopian Prime Minister Abiy Ahmed (PhD) and Chinese President Xi Jinping.
Ethiopian Finance Minister Ahmed Shide was quoted as saying that the two countries’ national banks have agreed to collaborate closely in order to facilitate trade and enhance financial cooperation.
The minister also noted that China has provided Ethiopia with 400 million yuan in financial assistance, a contribution confirmed by President Xi during their discussions.
According to the Ethiopian Ministry of Foreign Affairs, President Xi praised Ethiopia’s macroeconomic reforms, acknowledging the nation’s efforts to stabilize its economy and promote growth.
The agreement is expected to bolster Ethiopia’s economic stability by reducing its reliance on third-party currencies for trade with China, thus facilitating smoother financial transactions.
It marked a milestone in the longstanding diplomatic and economic relations between the two nations, further solidifying their role in Africa-China trade relations.
(APA News)
Libya, Ethiopia top diplomats discuss regional developments
Foreign Minister Al-Taher Al-Baour held talks with his Ethiopian counterpart Demeke Mekonnenon on the sidelines of the ninth China-Africa Cooperation Forum.
According to the Foreign Ministry’s media office, the parties reviewed bilateral relations and explored opportunities to enhance collaboration in key sectors.
They also exchanged views on recent regional and international developments, particularly in Africa, and discussed strategies to address shared challenges facing the continent.
(Libya Observer )
Ethiopia launches PKI to enhance digital security ecosystem
The Ethiopian government has launched a Public Key Infrastructure (PKI) facility aimed at streamlining the data exchange component of the country’s digital public infrastructure (DPI).
According to the Ethiopia News Agency, a ceremony to unveil the PKI took place recently in Addis Ababa under the auspices of Prime Minister Abiy Ahmed. The infrastructure has been launched with the collaboration of the country’s Information Security Network Administration.
“Securing virtual data complements the task of protecting national sovereignty. Today, we officially launched Public Key Infrastructure (PKI) with the Information Network Security Administration. This will facilitate reliable and secure digital data exchange,” Ahmed said in a post on X.
The Ethiopia Digital ID program (NIDP) also quotes him as further saying: “If we can achieve digital identity and use public key infrastructure (PKI) properly, then we have entered the real virtual world.”
The PM explained the importance of the system to Ethiopia’s digital security architecture, saying it will facilitate the use of digital signatures and secure data transfer and verification among different government and private sector entities.
He noted that digital security is the bedrock of Ethiopia’s digital transformation drive, and therefore is vital for protecting the country’s digital sovereignty in the face of digital security threats which have seen an augmentation with generative artificial intelligence.
The launch of the PKI, the Premier said, adds up to other digital transformation and security efforts such as a coding program which seeks to train five million coders, as well as the national digital ID program which is advancing at pace.
Ethiopia’s deputy Prime Minister, Temesgen Truneh, also added his voice to praise the importance of the newly launched PKI. Fana Broadcasting Corporation quotes the official as underlining that the move is a vital leap forward in the evolution of Ethiopia’s digital transformation.
Already, the country has issued over 8 million digital Ids, some of which have been issued to refugees and returnees.
A component of the digital ID scheme dubbed the “Ethiopia Digital ID for Inclusion and Services Project” was recently adjusted by the World Bank to clarify a payments clause for enrollment partners.
(BIOMETRIC UPDATE.COM)
Dashen Bank Launches CashGo Service
Dashen Bank, in partnership with EagleLion System Technology, announced the launch of CashGo, an international money transfer application that aims to revolutionize the way remittances are sent to Ethiopia.
CashGo is designed to make sending money to Ethiopia from anywhere in the world easier, faster, and cost-free.
In conjunction with the Ethiopian New Year, Dashen Bank has introduced a campaign titled “Get a 15% Bonus with CashGo.” This promotional campaign will run from September 1 to 30, 2024.
During this period, customers who send remittances to Ethiopia exclusively through Dashen Bank using the CashGo platform will receive a 15 percent bonus on their remittance amounts, in addition to enjoying our competitive exchange rates.
The introduction of CashGo is expected to play a pivotal role in bolstering the country’s economy by enhancing foreign currency inflows and providing a faster, moreefficient alternative to existing international remittance services.
The CashGo App offers a seamless and convenient experience for users, allowing money to be transferred directly from the sender’s account to the receiver’s account.
(THE REPORTER)
Ruth Girmay named Most Commendable Designer at 2024 Africa Leather Design Showcase
Ruth Girmay has been awarded the Most Commendable Award at the Africa Talent Leather Design Showcase 2024 for the second consecutive year. Her innovative and environmentally conscious design, the Overfishing Bag, captivated the judges, marking her as a standout talent in Africa’s fashion industry.
Ruth’s Overfishing Bag, inspired by the Nile Perch, is a creative response to the critical issue of overfishing. The bag’s design features elements like the caudal fin and spiny dorsal fin of the Nile Perch, serving as powerful symbols of marine conservation. This project exemplifies aesthetic excellence and aligns perfectly with the competition’s theme of innovation, sustainability, design prowess, and commercial viability.
The theme of this year’s Africa Talent Leather Design Showcase 2024 is How can fashion drive environmental sustainability while preserving design prowess? Ruth’s Overfishing Bag is a profound response, highlighting the urgent need for environmental conservation through the lens of fashion.
Ruth first made headlines at the Africa Talent Leather Design Showcase in 2023, where she won the Most Commendable Design Award for her design that showcased similar innovative and thoughtful approaches to fashion. Her continued success in 2024 with the Overfishing Bag solidifies her reputation as a leading voice in sustainable fashion.
Ruth’s work is characterized by a deep respect for nature and a desire to use fashion as a platform for raising awareness about important environmental issues. Her designs are narratives that connect with consumers on a deeper level, urging them to consider the broader implications of their fashion choices.
As the winner of the Most Commendable Designer Award, she will represent Africa at an international event in the UK. This showcase, which was recently rescheduled, necessitated the early announcement of Ruth’s win to ensure her participation. The event will provide Ruth with a global platform to share her innovative design and highlight the importance of sustainability in fashion.
(Hapakenya)
Xi meets Ethiopian Prime Minister
Chinese President Xi Jinping on Wednesday met with Ethiopian Prime Minister Abiy Ahmed, who is in Beijing for the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC).
Xi said China-Ethiopia relations are an example of friendly cooperation between China and Africa.
For a long time, the two countries have firmly supported each other in safeguarding their respective core interests and opposing external interference, forging an unbreakable iron-clad friendship, Xi said.
China stands ready to take the summit as an opportunity to expand pragmatic cooperation between the two countries, and supports Ethiopia in leveraging its strength as a regional transport hub to establish a rail-sea intermodal transport network in East Africa, and building a demonstration area for high-quality Belt and Road cooperation between China and Africa, he said.
China is willing to enhance communication and collaboration with Ethiopia at the regional level as well as within the frameworks of the UN and the BRICS to jointly uphold international fairness and justice, Xi said.
Abiy said China’s policies toward Ethiopia fully demonstrate equality and mutual respect, and the bilateral ties are mutually beneficial.
He added that Chinese enterprises’ investments have made significant contributions to Ethiopia’s economic and social development.
Ethiopia is willing to work with China to continue the firm mutual support, and promote their all-weather strategic partnership to yield more results, Abiy said.
(People’s Daily)
Djibouti sees positive Ethiopia response to port-access plan
Djibouti’s government expects Ethiopia to accept an offer for exclusive access to one of its ports, a proposal that’s aimed at defusing regional tensions triggered by Addis Ababa’s bid to regain direct access to the sea.
The plan has been submitted to the Ethiopian authorities and “we are expecting a positive response soon,” Djiboutian Foreign Minister Mahamoud Ali Youssouf said in an interview Wednesday on the sidelines of the Forum on China-Africa Cooperation in Beijing. Youssouf announced last week that the government planned to offer landlocked Ethiopia “100% management” of a harbor at Tadjoura on Djibouti’s coast.
Two Ethiopian government spokespeople didn’t respond to requests for comment sent by text message. The country lost its access to the sea in 1991, when Eritrea gained independence after a three-decade war.
Ethiopian Prime Minister Abiy Ahmed set off a diplomatic row in January when he announced plans for a deal to secure access to a port in Somaliland — a semi-autonomous region of Somalia — in return for a stake in state-owned Ethiopian Airlines. Somalia, which regards Somaliland as part of its territory, balked at the proposal.
The offer by Djibouti is part of its efforts to address multiple crises in the Horn of Africa region. In addition to the dispute between Ethiopia and Somalia, Djibouti is trying to help ease tensions in Sudan, where a civil war has been raging for more than a year, as it deals with the impact of attacks by Iran-backed Houthi rebels in Yemen on commercial vessels in the Red Sea.
“We are in the middle of the storm and we are trying to do our level best to help countries like Sudan” as well as trying to decrease the tension between Somalia and Ethiopia, Youssouf said.
Djibouti is located on a global shipping choke-point that links the Red Sea and the Suez Canal to the Gulf of Aden and the Indian Ocean. It’s also home to military bases of the US, Saudi Arabia, European Union nations and China.
Youssouf, a leading candidate to take over as head of the African Union next year, said African leaders welcome Beijing’s help in resolving security issues across the continent and funding peacekeeping missions.
China can also help to bring an end to the war between Israel and Hamas, Youssouf said. That conflict is spilling over into the Horn of Africa because of the attacks by the Houthi rebels.
“China has an ear in Tehran and Tehran has an ear with the Houthis and also with Hamas,” he said. “It’s in the best interest of China to help, you know, resolve this problem in the Middle East so that the influence of trade through the Strait of Bab el-Mandeb be made safer than what it is now.”
The Forum on China-Africa Cooperation kicks off officially Wednesday night with a gala dinner hosted by Chinese leader Xi Jinping. Youssouf is accompanied on his visit by Djiboutian President Ismail Omar Guelleh.
(BNN Bloomberg)