Ethiopian Business ReviewThe agricultural sector has always been labelled as the backbone of the economy for the last three successive regimes in Ethiopia, albeit being denied of the deserving attention. Despite employing close to three-fourths of the country’s workforce, the sector has been at the receiving end of disservice by the political elite who consistently claim to have modernized it. The EPRDF administration has acknowledged that the agricultural sector is the launching pad to industrialization.
Catherine Hamlin world-renowned gynecologist and humanitarian, has passed away on Wednesday March 18, 2020 at the age of 96.
Catherine, Australian, and her husband, the late Reg Hamlin (MD), established treatment centres for women suffering from the debilitating effects of obstetric fistula, a crippling condition that results from complications in childbirth.
Apart from the tragic human consequences of the COVID-19 coronavirus epidemic, the economic uncertainty it has sparked will likely cost the global economy one trillion dollar in 2020, the UN’s trade and development agency, UNCTAD, said.
Ethiopia’s economy exhibited a nine percent growth in the past financial year. This is two percentage points higher than the amount registered during 2017/18 fiscal year. The expansion in the economy is attributed to 11Pct growth in services, 3.8Pct in agriculture and 12.6Pct in industrial sectors. The total GDP of the country has reached ETB1.8 trillion during the previous financial year.
The government of Ethiopia, in a statement released today, affirms that it will commence first filling of Grand Ethiopian Renaissance Dam (GERD), in parallel with construction of the dam, without causing significant harm on Egypt and Sudan.
While expressing its dismay over yesterday’s statement of treasury department of the United States, The government explained that it does not accept the characterization that the negotiation on the guidelines and rules on the first filling and annual operation of the Grand Ethiopian Renaissance Dam is completed.
The United States of America cautions Ethiopia to refrain from filling and testing its giant dam on Nile before reaching an agreement with Sudan and Egypt.
The US Treasury Department, in its statement released yesterday after a meeting with ministers of Sudan and Egypt in the absence of Ethiopia, said final testing and filling of the dam should not take place without an agreement.
Egypt affirms its participation during the meeting in Washington scheduled to be held on February 27 and 28 in a bid to resolve disputes over the Grand Ethiopian Renaissance Dam (GERD), despite Ethiopia’s absence. This comes just two days after the government of Ethiopia announced that it is not going to take part in the ministerial meeting because of ‘unfinished consultation with national stakeholders.’
Ethiopian Airlines Group grossed an unaudited profit of ETB7.8 billion (USD260 million) during the first half of the current Ethiopian financial year, Public Enterprises Agency announced. The Airlines also registered revenues of ETB68 billion in the same period, the same source said.
Development Bank of Ethiopia (DBE) grossed a profit of ETB951 million in the first half of the current fiscal year, the highest since its establishment and twice its annual profit recorded three years ago.
Econet Global Ltd announced its interest to acquire a license to provide telecom services in Ethiopia, Bloomberg reported.
