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economy

AU urged to advance global financial architecture reform agenda – etbaba.com

BY ANDUALEM SISAY GESSESSE – African leaders and the African Union Commission (AUC) are urged to advance justice and reparations for Africa at the ongoing AU Summit. The leaders are told to advance the agenda of reforming the global financial architecture which has been harming African people. The call is made this afternoon by a …

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Bondholders can make 30% profit from rejected Ethiopia deal – etbaba.com

A new report released today finds that Ethiopia’s bondholders would still make 30% profit from the government’s proposed debt restructuring deal. The briefing also concludes that IMF debt sustainability targets could only be met if bilateral creditors accepted being repaid significantly less than bondholders. The report by The Horn Economic and Social Policy Institute (HESPI), …

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WTO, OECD report reflects on data flow regulation – etbaba.com

A new report by the World Trade Organization (WTO) Secretariat and the Organization for Economic Cooperation and Development (OECD) identifies the potential economic implications of regulatory systems for data flows across borders and data localization. The publication underscores the benefits of open regimes that include safeguards and stresses the economic value of finding more convergent …

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IFC invests $50 million in Lagos Free Zone Company – etbaba.com

The International Finance Corporation (IFC) has announced an equity investment of up to $50 million in Lagos Free Zone Company. The investment is aimed at supporting the development and expansion of Nigeria’s first deepsea port-based, private special economic zone, the Lagos Free Zone. This investment is designed to address critical infrastructure gaps, attract local and …

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Ethiopian Quality Award Organization, HayaSebat Marketing partnered – etbaba.com

BY ANWAR HUSSEN MOHAMMED – With the aim of recognizing and awarding manufacturers of quality products and excellent service providers in Ethiopia, Ethiopian Quality Award Organization (EQAO), and HayaSebat Marketing and Branding company have inked a partnership agreement today. The agreement is signed in Addis Ababa this morning between Mr. Tewodros Mebratu, CEO of EQAO, …

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Africa told to pursue just, inclusive circular economy model – etbaba.com

Transitioning to a just and inclusive circular economy in Africa presents a unique opportunity to create jobs, stimulate sustainable economic growth, and reduce pressure on natural resources, say experts. This is indicated by the experts and representatives attending a two-day validation workshop for the review of a Circular Economy Action Plan in Port Louis, Mauritius. …

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One Industry launches socks production in Ethiopia – etbaba.com

BY YANET YANTAYE WOGAYEHU / DEBRE BIRHAN – One Industry, a private company engaged in manufacturing sector in Ethiopia, has launched production of socks in a factory built on 10,000 square meters of land in Debre Birhan, Amhara region of Ethiopia. In an exclusive interview with New Business Ethiopia, the Managing Director of One Industry, …

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Debt, political uncertainty challenge world economy in 2025 – etbaba.com

With fragmentation, debt and political uncertainty, the global economy is set to face significant challenges in 2025, with 56% of chief economists surveyed expecting conditions to weaken, according to the latest Chief Economists Outlook from the World Economic Forum. Only 17% foresee an improvement, pointing to heightened uncertainty in key regions and the need for …

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DRC secures about $1.73 billion credit from IMF – etbaba.com

The Executive Board of the International Monetary Fund (IMF) on Wednesday approved a 38-month arrangement for The Democratic Republic of the Congo under the Extended Credit Facility (ECF) in the amount of over $1.73 billion or 125 percent of quota. The Fund also approved a 38-month arrangement under the Resilience and Sustainability Facility (RSF), in …

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Cash light VS serve the unbanked community – etbaba.com

BY EYERUSALEM HADGU – Since the launch of mobile banking services in Ethiopia by MBIRR in September 2015, I have spent eight years in this sector. Throughout this time, I have participated in various conferences focusing on digital financial services, particularly payment systems. A recurring theme in the panels and presentations at these events is …

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