In the burgeoning landscape of Ethiopian cinema, filmmakers like Haymanot Girmay and Moges Asrat are reshaping the industry’s narrative on YouTube. Girmay, a newcomer, invested her passion and resources into her debut film “Honelgn,” delving into societal issues with a personal touch. Meanwhile, Asrat, a seasoned figure, emphasizes the delicate balance between art and profit, learning from his early challenges. Yet, Ermias Hailemichael, a stalwart in the field, expresses concern over YouTube’s impact, citing potential quality compromises and profit-centric motives. As the debate unfolds, these filmmakers highlight the need for industry criteria, fair compensation, and more significant investment to elevate Ethiopian cinema on local and global platforms. The future, they assert, lies in fostering quality content and incentivizing long-term success over short-lived gains, writes Addisu Deresse.

The victory at Adwa is a significant achievement that represents Ethiopian unity. However, the virtues that historic battle — unity, freedom, equality and justice — seem to be eroding. Guzo Adwa, a movement that started in 2013, aims to bring a unique way to commemorate the sacrifice paid for freedom by our brave forefathers as they set out to defend their motherland from the yok of colonial aggression, is trying to reinvigorate the Ethiopian public through an annual journey to the battle site. EBR reprints an updated version of content published in edition 58 by an adjunct writer, Meseret Mamo, who explored how the annual service inspires Ethiopian youth to learn from the heroes of Adwa.

Once a bustling capital, Mekelle now wears the scars of Tigray’s brutal conflict. Its unfinished buildings and neglected shops whisper of lost opportunity, while cheap beer and quiet pubs offer solace from the harsh reality. Young people yearn for a brighter future elsewhere, fleeing to Europe or fearing jobs and famine.

The war’s economic wounds are deep. Infrastructure lies in ruins; businesses are largely looted, and unemployment soars while inflation reaches the rooftop. Hospitals struggle with staff shortages and non-payment, driving skilled doctors away in mass exodus. The spectre of famine is looming while the regional government cries for funds. Tourists, once plentiful, now stay away, deterred by images of hunger and instability in the region.

Indeed, Mekelle grapples with its new reality – hosting internally displaced people with meagre resources.
EBR’s Samuel Getachew visited Mekelle to understand how rough the road to recovery will be. He reports that it will take a concerted effort of international donors, local and federal governments, and citizens for Mekelle to rise again from the ashes and for its people to rebuild a brighter future.

Debt Restructuring Crucial for Regaining Stability, Driving Future Growth

Ethiopia has made significant progress in addressing its debt burden. The country has agreed with some of its official bilateral creditors to suspend debt-service payments temporarily. The Ministry of Finance has also entered into negotiations to restructure a one billion dollar Eurobond that will mature next year. This development holds great promise for Ethiopia’s economic stability, enabling it to effectively manage its debt obligations and pave the way for a sustainable financial future.

However, Ethiopia faces significant challenges in its current financial situation. Limited availability of foreign currency has impeded the country’s ability to meet its foreign exchange needs, as funding from non-governmental organizations and other sources also diminished. The widening exchange rate between the parallel market and the formal market has been one of the primary reasons for the reduction in remittance inflows. Additionally, the adverse effects of the COVID-19 pandemic, internal conflicts and a decline in tourism income have exacerbated Ethiopia’s financial difficulties.

Addressing these challenges and ensuring a brighter economic future for Ethiopia hinges on successful debt restructuring. This process makes debt obligations more manageable, freeing up resources for essential investments. In this insightful report, EBR’s Najat Ahmed delves deeper into the complexities of Ethiopia’s financial situation and the prospects for successful debt restructuring. By tackling its current obstacles and seizing opportunities for sustainable debt management, Ethiopia can pave the way for a more stable future.

Ethiopia is rapidly developing into a promising hub for startups and innovation. The recent agreement between the Ministry of Innovation and Technology and the Addis Ababa City Administration to establish astate-of-the-art startup city further fuels optimism for the future of the country’s startup ecosystem. While the success of the startup city is yet to be seen, the initiative carries significant promise for Ethiopia’s future. By addressing key challenges and fostering a vibrant ecosystem, the city has the potential to propel Ethiopian startups onto the global stage and contribute significantly to the country’s economic and social development. EBR’s Eden Teshome explores.

Ethiopia is implementing a national ID system to modernise governance and empower citizens. This transformative initiative provides unique identification numbers, streamlines access to government services, and promotes inclusivity. The system utilises advanced technologies like biometrics and secure databases to ensure accurate verification and protect privacy.

The national ID system fosters economic growth, attracts investment, and empowers marginalised communities by enhancing service delivery efficiency and promoting equal access for all citizens. It also improves security by reducing identity theft and fraudulent activities. However, challenges such as the lack of financial resources and ensuring accessibility in remote areas need interventions to see the project achieve its goals to the fullest. Overall, Ethiopia’s national ID system is a cornerstone of digital governance, driving progress and prosperity for the nation. EBR’s Nejat Ahmed explores.

Ethiopia’s reputation as an investment hub has been tarnished by issues such as corruption, lack of foreign exchange, inter-ethnic conflicts, and intermittent violence. Because of these conflicts, agricultural exports particularly sesame, coffee, flowers, fruits, vegetables and others have been severely impacted. Exporters face difficulties in finding markets, dealing with rising costs domestically, and navigating security risks which have heightened the business risks they face. The government’s focus on obtaining foreign currency to service its debts and finance the import of key commodities such as fertilizer and fuel has further strained the business environment. The cancellation of Ethiopia’s membership in the African Growth and Opportunity Act (AGOA) by the United States has further affected exports, especially in the garment and apparel industries. Some exporters are considering selling or abandoning their investments, while others are exploring opportunities in the local market as an alternative. Despite these realities, Ethiopia has recently ranked at the top among countries offering vast business prospects in Africa according to the 2023 Africa Risk-Reward Index which was published last September by the Africa Oxford Economics. EBR’s Samuel Getachew dives into the report and discusses the multifaceted challenges local and foreign investors face the prevailing business environment.