EBR131 – Ethiopian Business Review

On July 3rd, 2024, the news of Nebiy Mekonnen’s passing received a massive shock in the eyes of the public. Nebiy was a renowned figure in Ethiopian literature and journalism. His works, described as timeless and extraordinary by his colleagues, are considered masterpieces, and the general public loves them so much. In addition to his successful professional career, those close to him testified to his charming demeanour and easygoing attitude. Following his passing, his colleagues, friends, and admirers of his work took to social media to pay tribute. Media outlets aired programs that celebrated his work. In this article, EBR’s Dr. Brook Genene pays homage to one of Ethiopia’s significant public figures.

On July 9, 2024, the National Bank of Ethiopia (NBE) unveiled a transformative monetary policy framework, marking a pivotal shift in the nation’s economic management and strategic financial planning. This framework aims to modernize Ethiopia’s monetary policy, enhance price stability, and align with international central banking best practices.

The cornerstone of this new framework is the transition to an interest-rate-based regime. The NBE will use the National Bank Rate (NBR), initially set at 15%, as the primary tool to signal its policy stance and influence broader monetary and credit conditions. This shift enhances transparency and predictability in monetary policy, aligning Ethiopia more closely with modern central banking practices.

Yohanes Zewdu’s Journey to Unlock Ethiopia’s Potential on the Global Stage

Yohanes Zewdu, popularly known as Johnny Vegas, is the CEO of a consulting and lifestyle management brand called Kloudout. The company has offices in Las Vegas to cater to the South, North American, and Caribbean markets and expand into Europe, the Middle East, and Africa. He is also serving as the International Liaison and strategic advisor for the Ethiopian Football Federation (EFF). EBR’s Dr. Brook Genene sat down with Yohanes to discuss his journey to success, what he is doing to help football grow in his home country, and his plans for the future.

Study Exposes Alarming Levels of Tech-Facilitated Gender-Based Violence in Ethiopia

The United Nations Population Fund (UNFPA) defines Technology Facilitated Gender-Based Violence (TFGBV) as “an act of violence perpetrated by one or more individuals that is committed, assisted, aggravated, and amplified in part or fully by the use of information and communication technologies or digital media, against a person on the basis of their gender.” While online abuse affects both men and women, the magnitude and extent are different. Women face gendered stereotypes, mockery, and irony more than their male counterparts. Experts explain that TFGBV and day-to-day gender-based violence (GBV) share the commonality of being rooted in power imbalances and societal norms that perpetuate inequality. However, there are distinct differences in their manifestations and impacts. GBV includes physical, economic, and psychological violence happening in personal relationships or public spaces. In contrast, TFGBV involves the use of information and communication technologies (ICT) to harass, threaten, or violate the privacy of individuals, typically women and girls. EBR’s Dr. Brook Genene takes a look at how TFGBV is affecting women in their daily lives and hindering their online engagement.

A Growing Challenge for Ethiopia’s Workforce and Economy

Ethiopia’s rapidly growing economy presents a promising landscape, but beneath the surface lies a critical challenge: a significant mismatch between the aspirations of its young population and the realities of the job market. While the nation strives for economic diversification and job creation, societal pressures often steer students towards prestigious professions like medicine or engineering, regardless of personal interests. This misalignment leads to job dissatisfaction, reduced productivity, and increased turnover rates for companies.

EBR’s Mintesnot Nigusse delves into the stories of individuals grappling with this issue, highlighting the personal and economic consequences. He explores potential solutions, including the importance of career guidance, parental involvement, and fostering a workplace culture that prioritizes employee well-being. Addressing this mismatch is crucial for Ethiopia to harness its full economic potential and create a more fulfilling and productive workforce.

A Beacon of Excellence Driving Ethiopia’s Industrial Transformation

Since its inception in 2008, the Ethiopian Quality Award (EQA) Organization, a collaborative effort of Addis Ababa University and Walta Media and Communications, has been a unique beacon for Ethiopian businesses striving for excellence. Unlike other awards, the EQA doesn’t just hand out trophies; it rigorously evaluates companies based on international quality standards. This unique approach spurs organisations to refine their leadership, customer focus, and internal operations, leading to improved resource management, streamlined processes, and a more competitive Ethiopian business landscape.

The EQA’s impact transcends individual companies. By establishing a national benchmark for quality, it sparks a collective drive for improvement. Furthermore, the EQA plays a pivotal role in fostering a culture of continuous learning, providing a platform for businesses to share best practices and elevate the overall discourse on quality within Ethiopia. The EQA is more than an award; it’s a powerful catalyst for Ethiopian business transformation and industrial competitiveness.

The Need for Balancing Economic Interests With Rule of Law

Ethiopia’s proposed Asset Recovery Bill has sparked controversy. The bill grants broad powers to the government to seize assets suspected of being acquired through illegal activities, even without proven crimes. Critics fear the bill could be used to target political opponents and lacks sufficient due process protections. The retroactive application of the law is another primary concern. Legal experts, opposition parties, and even some public officials have raised concerns about the bill’s constitutionality. The lack of judicial oversight and the potential for abuse are significant risks experts raise. The Ethiopian government should carefully consider these concerns and prioritize upholding the rule of law. While asset forfeiture can be a tool to combat economic crime, strong safeguards are needed to prevent potential abuse. EBR’s Eden Teshome has spoken to experts and explored the experience of other countries to compile this report.

Literary Giant Nebiy Mekonnen Leaves Behind A Legacy of Social Commentary Cultural Connection

The Fruits of Governance, Policy Reforms at NBE

Building Football Bridges

Yohanes Zewdu’s Journey to Unlock Ethiopia’s Potential on the Global Stage

Normalizing the Unacceptable

Study Exposes Alarming Levels of Tech-Facilitated Gender-Based Violence in Ethiopia

Career Misalignment

A Growing Challenge for Ethiopia’s Workforce and Economy

Ethiopian Quality Award Organization

A Beacon of Excellence Driving Ethiopia’s Industrial Transformation

Ethiopia’s Proposed Asset Seizure Bill

The Need for Balancing Economic Interests With Rule of Law