THE PAPER THAT PROMOTES FREE ENTERPRISE Year 23, No. 1151 Sunday December 27, 2020 / Tel: +251-11 618 3253 | 11 661 0976 / Fax: +251-11 618 5206 / P.O. Box: 95/1110 Addis Ababa, Ethiopia / Price 10.00

INSIDE STORIES Dashen’s dash Ministry of Trade and Industry Dashen Bank reported massive earnings per share (EPS) in the past  financial year 3 provides support to Tigray Investors By Metesebia Teshome investors from the Tigray region. Dinkayehu, state minister of Trade and Nyala’s outstanding The ministry has set up an eight members task Industry. He explained that the ministry of performance Ministry of Trade and Industry has taken the force from different stake-holders to re-launch Trade and Industry will send its expertise directly to the location of the factories to Nyala Insurance declared lead to support investors in Tigray region industries that have been shut down. The to reopen their investment and continue ministry is also committed to finding solutions conduct field study and find a solution to it has collected more than support the factories. half a billion Birr premium their contribution in the region. During the to companies that are concerned about ports, income from its three-week war that began in the Tigray customs degradation foreign exchange As Yohannes Dinkayehu said, government general and long-term  regional state, several factories were severely problems financial supply and inability to will support the factories in the region to insurance businesses 5 damaged and looted. enter into contracts with their customers quickly get out of trouble. On Friday December 25, officials from the “The first mandate of the task force isto Some of the factories outside Mekelle Berhan lights ministry and different stakeholders held identify information of damage and destroy Berhan Insurance registered discussions with different representatives of to re operate industries,” said Yohannes significant earnings per share and profit for the 2019/20 financial year with higher premium  7 Ethiopia Exhibitions After a year of silence due to the Covid-19 global set to start pandemic, exhibitions and bazaars have started to get under way  7 reporting Enat’s successful year Enat Bank’s total outstanding loans and advances have continued to show massive FSIs for IMF expansion in the past financial year  10 By Muluken Yewondwossen

INTERVIEW Ethiopia is set to start reporting Financial

PHOTO: Anteneh Aklilu Soundness Indicators (FSI) for the Statistics Department (STA) of IMF as of this month in accordance with the 2019 FSI Guide using the Draft proclamation ridiculed workbook developed by IMF mission on the technical assistance that was mid this year. By Muluken Yewondwossen formation of chambers will be carried out under state structure form and most of the The STA mission had paid an assistant mission participants who attended the discussion on in June remotely, on the aim to technical provide The business community blasted the new Friday December 25 at Sheraton Addis, ended assistance to the Bank Supervision Directorate draft proclamation of the Chamber of up ridiculing it. (BSD) of National Bank of Ethiopia to manage Commerce and Industry. A participant called and commence the new reporting. They said that at the inception the draft it a ‘Treaty of Wuchale’ that aims to elevate Meanwhile, Ethiopia has been reporting for their autonomy on pillar activities. has made problems since it demands the business community to be organized under IMF’s African Department (AFR) for deposit Great Ethiopian Run The draft proclamation that targets to replace governmental administration form. takers for internal use in its AFR’s financial The Great Ethiopian Run the controversial Proclamation Chambers stability analysis. It is the first time for the International 10km is a of Commerce and Sectorial Association One of the participants argued that the country to report to the STA. The quarterly flagship event held since Establishment no.341/2003 has been discussed business does not have region like politics; report will be posted on the IMF FSI website, 2000, the event has been the as the event organized by Addis Ababa Chamber it shall trade everywhere in the country which makes Ethiopia another country and cities in different regions, “Such kind of biggest road race in Africa and Sectoral Association in collaboration alongside 143 countries who posts on the and has been held formation process would not be acceptable for with Ministry of Trade and Industry, who is website. without interruption responsible on the drafting process. for the past 19 years  16 The draft proclamation indicated that the  Page 6  Page 6

ISSN 2410-6933 Ethiopia’s Business Weekly www.capitalethiopia.com / Twitter @capitaleth / facebook.com/capitalethiopia Get our latest stories from your smart phone, just download QR reader from your app store and flash on 2 EDITORIAL Year 23, No. 1151 Sunday Dec. 27, 2020 ARRESTING CORRUPTION

Late modernity is characterized by blinding greed. As a result, it is facing CAPITAL is a weekly business mounting public pressure against its multifarious abuses. Systemically structured newspaper published and (undeserved) privileges, facilitated by the reigning neoliberal order obtain all over the world, in every nook and cranny. In other words, from large-scale parasitic distributed every Sunday by CROWN activities that unashamedly leverage political power, (grand corruption) to the PUBLISHING PLC. tiniest operations lubricated by bribes (petty corruption), un-tempered avarice CAPITAL dominates life in the twilight of the prevailing world system. Expected or not, the is a registered limit to all such injustices is being reached in one form or another all across planet newspaper with the Federal earth. The increasing wrath of the global sheeple (human mass) is now obvious. Democratic Republic of Ethiopia Oligarchs are on the run and their handlers are scared. From the notorious Russian Ministry of Trade license number oligarchs, to the capitalists of Red China, tumult is becoming the order of the day. 14/673/21142/2004. The recent crackdown on the princelings and their minions in Saudi Arabia is a t continuation of this global uprising! Managing Editor Teguest Yilma Thanks to the administration of President Putin, the Russian oligarchs are now cut By Nabih Bulos, Laura King to size, to the displeasure of global dominant interests, mostly located in the core COMMENT [email protected] countries of the West. It would be recalled that after the demise of the USSR, the t Editor-in-chief newly created Russian mafia took over the country’s wealth, literally. Mines of Groum Abate all kinds were paper transferred to accomplished thieves with the help of western In gilded Saudi royal [email protected] banksters. Without the gradual arrest of such gross embezzlements taking place in the Russian economy, extreme violence would have been the result. In the last Addis Ababa, Yeka sub-city, five years, the Xi administration in China has managed to indict over a million and circles, corruption has Wereda: 06 H. No. 514, half individuals operating within the system. The reaction of dominant interests in 011 618 3253/011 661 0976 the west to this initiatives is/was, as expected; Xi is becoming a dictator, akin to t Deputy Editor-in-chief Mao. President Putin is considered, at least in the eyes of the deep state, as devil long been a way of life Muluken Yewondwossen incarnate! Don’t forget, oligarchs all over the world share the same philosophy of [email protected] blind greed, and want to operate in ways that can only benefit them, whatever the ehind the walls of one of his many opulent palaces, the t Reporters consequences to people and other life forms. king was troubled. He knew all too well that the self- t Metasebia Teshome Unfortunately, aspiring oligarchs are also fledging in countries of the periphery, dealing ways and gold-plated lifestyle of the House of [email protected] supported by global entrenched interests and compromised/captured states. In Saud - whose princes and princelings numbered in the this regard, the current African reality is abysmal, not excluding the so-called Bthousands - had spiraled out of control. Things had to change. t Senior Graphics Designer developmentalist states! Even in poor Ethiopia, situations seem to get out of t That was a decade ago. Daniel Amare hand. It is time to round up the ‘princelings’ (privileged parasites) that were danielamare@capitalethiopia. Leaked American diplomatic cables from the time described created during the last two decades, along with their handlers (degenerate high com officials of party/government). Not to worry, we also have our own splendid ‘five the attempts of then-King Abdullah bin Abdulaziz to rein in the star’ hotel in ‘kilinto’ eagerly waiting to accommodate them! money-skimming excesses of his fabulously wealthy fellow royals. Graphics Designer The Saudi Arabian monarch, already an octogenarian, reportedly What is happening in Saudi Arabia might well be a last ditch effort to save the t Abrham Wuletaw told his brothers that he didn’t want to face Judgment Day with monarchy. One should recall that Egypt, Libya and Iran were once (not very long [email protected] “the burden of corruption” on his shoulders, the diplomatic memos ago) ruled by monarchs. These kingdoms were not able to adapt to the changing said. He died in 2015. t Photographer world and had to be replaced by more participatory governance structures. The t Anteneh Aklilu current oligarchs of the oil kingdoms, almost without exception, start with plenty Now the kingdom’s brash young crown prince, 32-year-old of stolen capital. After their corrupt acquisition of the sheeple’s wealth, they go on Mohammed bin Salman, has proclaimed a new war on corruption. [email protected] acquiring legit businesses (all over the world) to clean up their loot. Just ask how Acting at his behest, Saudi authorities have accused hundreds of t Cartoonist these oligarchs started out and the reply is flimsy just as their so-called businesses. people, including a dizzying roll call of prominent princes, of Roman Tadesse There is always a ‘black hole’ at the center of their empire! Alas, there is a remedy crimes that include graft, bribery and money laundering. [email protected] to all such shortcomings, so long as there is money. World known propagandists The arid peninsula’s business lore brims with tales of ambitious (public relation firms) are employed to portray these goons as if they were business infrastructure projects that shimmered like mirages, their cost t Sales Manager geniuses or exemplary philanthropists, whose charitable works, (it is purported) vastly inflated by blatant bribery demands from royal and VIP Frehiwot Hailu can easily outshine that of Mother Theresa’s! The mainstream media (MSM) is patrons, their completion delayed or doomed altogether by brazen [email protected] another powerful tool that helps propagate the lies. Besides buying stakes in the high-level malfeasance. media businesses, to influence or even shut them up, oligarchs also get full support t Columnists A gleaming subway in the capital, Riyadh, a promised-but-unbuilt of core countries governments (OECD, rich countries). After all, where does all t sewer system in the port city of Jidda, even the Grand Mosque Alazar K. the stolen money ultimately end up? Once the sheeple is thoroughly brainwashed [email protected] complex in the holy city of Mecca - all have come under scrutiny over about the ‘noble nature’ of these characters, they promptly engage in ‘rent seeking’ kickbacks and misappropriated funds. In past years, other Saudi deals t Ton Haverkort activities, which of course are their real forte! In these schemas, the captured states, [email protected] led by their top honchos, always bowing to the moneyed, gladly facilitate whatever such as lucrative arms contracts have ensnared foreign partners. The Jidda case had particularly tragic consequences. A powerful the criminal oligarchs fancy, legal or otherwise! What is sad but not surprising CROWN PUBLISHING is a private Saudi businessman had accepted a multimillion-dollar payment to is; even after the thorough cleaning up of their ill-gotten money, the majority of limited company registered oligarchs still fail to create or run good honest businesses. A glimpse of the financial build a new sewage and drainage system, but merely pretended to with the Federal Democratic statements of their companies tells a whole lot about their business ineptitude. have completed it - a ruse that was widely known among commoners Republic of Ethiopia Broadcasting When probity and integrity in the semi-periphery/periphery tend to gain as well as the ruling elite. Later, in 2009, flooding sent torrents of Authority under registration no. ground, entrenched global interests spin such positive moves as a sign of power water coursing through the city, killing more than 100 people. The 34/2001 consolidation, dictatorship, etc., on the part of existing political leadership. lack of a viable drainage system was a key underlying cause. and with Addis Ababa Levelheaded analysis, based on reality is thrown out as backward looking. For To the point of cliche, trappings of the luxe life have become City Administration Trade and example, the assumption that ‘debt is wealth’ permeates the whole neoliberal order, the Saudi royal family’s calling cards the world over: yachts and Industry Development office which of course is a farce! Many of the global oligarchs, we are told, are wealthy private planes, an endless array of designer goods, venerable under registration number and have net worth in the billions of dollars. Forget about asking how they earned enterprises purchased like baubles, sumptuous apartments in 14/673/21142/2004. their supposed wealth! Even without bothering with such pointed questions, the London and Paris, the commandeering of entire wings of the majority of them have massive debts. At the same time, the values of their assets planet’s most exclusive hotels. Address: Addis Ababa, Bole Sub City, Wereda 1, House no. New (almost always) come very short of their debts. To rectify this, their assets are “Clearly, they understand they’ve had a corruption problem for valued astronomically by the reigning global institutions; banks, rating agencies, decades, and know they have to do something,” said Robert Jordan, Mob: +251 - 944 73 23 00 business media, etc. The valuation of oligarchs’ wealth today is at best a joke. It a former U.S. ambassador to Saudi Arabia, citing the “shakedown +251 - 911 22 69 00 is like valuing a ten year old ‘Toyota Corolla’ at ten million birr. And based on culture” that surrounded the royal family and other elites. this false valuation banks avail more bank credit to oligarchs. Ludicrous! If truth Tel: +251-11 618 32 53 be told, plenty of the oligarchs in the world have negative net worth! This whole Many veteran Saudi watchers, and more than a few wary investors, +251-11 661 0976 scheme is supported and encouraged by the reigning global banksters. Like it or not, are questioning whether the prince’s ostensible cleanup drive is +251-11 662 6958 it is such fabrications that encourage oligarchs to engage in criminal activities. The primarily a bid to consolidate power and sideline potential rivals - Fax: +251-11 618 52 06 whole idea is to project wealth as if it is the only thing that matters in the universe. following a template used by authoritarian leaders such as Chinese President Xi Jinping or Russian President Vladimir Putin, both of E.mail: [email protected] The culture/general disposition of a society that is methodically influenced by the [email protected] narrow-minded global oligarchs, is neither healthy (to individuals) nor harmonious whom have jailed potential adversaries on corruption charges. to collective existence! “There are some concerns that what this is really going to do is Website: www.capitalethiopia.com Unless the utterly corrupt princelings/oligarchs of ME & A (Middle East Africa) centralize oversight of public spending, and the same practices Syscom Plc. is exclusive are cut to size, the increasingly angry/restive youth of the various countries will will continue, but among a smaller group of people,” said Allison advertising agency for CAPITAL cut them to pieces! It helps to remember that about 50% of Saudi’s population Wood, an analyst for Control Risks, a London-based global risk Newspaper and strategic consulting firm. (and most of Africa) is under 25 years of age. Here is the current royal decree Tel. +251-11 618 3253 from Saudi Arabia: ‘The homeland will not exist unless corruption is uprooted The “real test” of a serious anti-corruption drive, she said, would +251-11 662 6958 and the corrupt are held accountable’ and another statement from one of the be “not just to pursue these people for corruption, but to maintain most powerful person on earth: "I have great confidence in King Salman and the and set a new standard for transparency.” E.mail: [email protected] Crown Prince of Saudi Arabia, they know exactly what they are doing. Some Even some of the prince’s many critics, though, acknowledge [email protected] of those they are harshly treating have been 'milking' their country for years!" that he is correctly reading the zeitgeist in the kingdom’s less [email protected] President Donald Trump. Good Day! exalted quarters, especially among less privileged Saudi youth. CAPITAL is printed by Berhanena Popular resentment over royal money grabs poses a potent Selam Printing Enterprise since Our Dear readers: threat as a new generation of leaders struggles to envision life December 1998. The editorial team will be on Sabbatical for the coming few weeks. beyond the petrodollars that fueled Saudi Arabia’s extraordinary Address: Addis Ababa, Arada Sub- In the meantime, we will reprint our previous editorials along with transformation from barren desert to a realm of gilded shopping accompanying commentaries. city Wereda 9 H.No. 984 Continued on page 34 Tel. 011 155 3233 With best regard,

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 Local News 3

Dashen Bank’s dash towards top flight performance Massive Earning Per Share recorded

By Muluken Yewondwossen In the IFB financing 542 million birr has also been disbursed for the year only. Dashen Bank, one of the two top profitable According to the annual performance private financial firms in the country, indicator, Dashen’s total capital increased achieves massive earnings per share (EPS) by over 21 percent and surpassed over 8.3 in the past financial year. The profit after billion birr. tax has also advanced by half compared “The capital increment in turn has enabled with the preceding period. the bank to increase its capacity to lend to Shareholders have agreed to expand the a single borrower and maintain a buffer to capital to 5.5 billion birr this finance year. absorb shocks,” the bank president said on his annual report addressing. In the operational evaluation for the 2019/20 and general assembly that was held at Mechare From the total equity the share capital has a Meda, the bank leadership announced that the stand of 3.5 billion birr that was 2.7 billion performance of Dashen for the past financial birr a year ago. year was very massive and impressive. For the year, the total revenue has expanded Neway Beyene, Chairperson of the Board by over 30 percent compared with the of Directors of Dashen, highlighted that 2018/19 financial year. The report shows although the financial year that ended that in the 2019/20 financial year the total in June had been scorched with the revenue stood at close to 7.3 billion birr from unforeseen pandemic of COVID 19 as a 5.6 billion birr of a year ago. The interest major challenge for the global economy, income has taken the lion share as usual and the bank’s performance remained sound. reached at 5.8 billion birr that was 4.3 billion birr a year ago. It is then followed by 1.5 “Reflecting on the previous year’s billion birr of fee and commission income. over a billion birr. billion birr from over a billion birr of the performance, the bank remained resilient In the year the bank profit before tax preceding year. despite an otherwise difficult operating In relation to the expansion of operation and has reached close to 1.8 billion birr that The EPS for the year has also reached environment,” Asfaw Alemu, President of deposit mobilization, the bank expense has increased by 40 percent from 1.3 billion almost half of a share value, which is the Dashen says on his report, “The review also increased by more than 27 percent in the birr of the 2018/19. highest for the industry. The ERS for the of our financial position reveals positive reported year and reached 5.5 billion birr. year has increased to 49 percent per share performance in terms of key performance Similarly the profit after tax has registered The annual report indicated that the interest value that surged by over 20 percent from metrics.” expense for the year reached at about 2.5 massive increment like other operation in the bank operation for the financial year 40.8 percent of the 2018/19 performance. The bank’s total assets in the stated period billion birr from over 1.9 billion birr in that ended on June 30. At the general assembly held on Thursday that ended on June 30, 2020 has expanded 2018/19 financial year, while employee December 24, shareholders have agreed to by 21.4 percent over last year position and benefit expense surge by almost half a The report indicated that the bank profit has expand the bank capital to 5.5 billion birr climbed to 68.3 billion birr. billion birr and stood at 1.9 billion birr and been boosted by more than half from the 2018/19 financial year and reached at 1.53 from the current 3.5 billion birr. Dashen’s annual reported indicated that the followed by other operating expenses of deposit mobilization has been boosted by one fifth or by 8.8 billion birr in the 2019/20 financial year. As of June 30 the total deposit ratio, in this perspective shows that the mobilization stood at 53.5 billion birr, which bank has continued to be capable enough to is one of the highest amounts in the industry Lion International Bank convert every invested resource into return. regarding the deposit mobilization. Total assets of the bank have continued to From the total deposit, the interest free banking expand considerably in the ended fiscal (IFB) sector, which Dashen introduced and roars remarkable results year. The bank has accumulated total assets one of the leading in the sector, has taken 4.4 of 31.8 billion birr exhibiting an increment percent share or 2.4 billion birr. By our staff reporter ended fiscal year. of 55.9 percent (Birr 11.4 billion), over the beginning of the year balance of 20.4 billion. In the reported year the banks had opened a In the fiscal year 2019/20, the bank The expansion in the assets of the bank was full-fledged IFB branch in Adama that aims to earned a total income of 3.1 billion birr, Lion International bank exerted great attributed to growth in major components maximize the promising IFB sector. which increased by 892.2 million birr or efforts to boost its deposit in the fiscal such as outstanding loans and advances, cash In the reported year the outstanding loans 40.2 percent from the preceding year’s year 2019/20, and as a result has the and bank balance, NBE bills and fixed assets. and advances stood at 42.6 billion birr, which deposit balance has significantly grown performance of 2.2 billion birr. makes it one of the unique performances not On matters capacity growth, the bank’s by 9.7 billion birr or 59.4 percent from the The total expense spent during the fiscal only for the bank but in the sector as a whole. total capital and reserve rose to birr 3.5 preceding year similar period and reached year 2019/20 posted 2.3 billion birr which billion, reflecting a 36 percent growth A year ago the total loans and advances 26.1 billion birr as of June 30, 2020. The soared by 807.1 million or 53 percent from from last year same period. Similarly, the were accounted at over 32 billion birr, while growth was practically attributed to the rise 1.5 billion birr incurred a year earlier. in the year ended June 30 the fresh loans in savings deposits, which went up by 8.6 paid-up capital increased to 2.2 billion birr, LIB completed the 2019/20 fiscal year with and advances disbursement accounted 17.4 billion birr (70.5 percent). which showed an increase of 621.1 million billion birr. a remarkable achievement registering a gross birr (40 percent) year-on-year. On the other Furthermore, the bank’s total number of From the total loans and advances domestic profit after provision, deprecation, and before hand, the number of shareholders reached account holders reached 1.2 million as of trade and services, manufacturing, export tax of birr 780.6 million, exceeding the last 11,348 as of June 30,2020. the 30th of June, 2020, which grew by 369 year’s same period performance by birr 85.1 and real estate have taken 11 billion, 10 As part of sustainable growth endeavors, the thousand 0r 46 percent as compared to the million or 12.2 percent. billion and 5.1 billion and 5 billion birr bank has been expanding its tangible assets recorded number last year. respectively. In the year under review, the bank had by purchasing and constructing its buildings. The loans and advances for domestic trade In matters credit management, the bank has maintained a strong standing measured by The assets range from ongoing construction and services, and manufacturing registered continued to play a key intermediary role in key performance indicators. Return on assets in Mekelle to procurement of a semi -finished massive increment compared with the the Ethiopian economy through mobilizing ROA expressed as the ratio of profit after building in Addis Ababa. Furthermore, as preceding year. The manufacturing sector resources to different economic sectors. tax to the average asset of LIB stood at 2.5 part of the effort to increase its accessibility loans and advance has increased by more Accordingly, the total net outstanding loans percent during the ended fiscal year while and expand its services outreaches, the than 3.5 billion birr, while domestic trade and advances of the bank markedly rose to the return on equality ROE articulated as the bank has opened thirty-three new branches and services increment is over 2.6 billion 19.1 billion birr, which is an expansion of of profit after tax to average stakeholders’ in different parts of the country during the birr for the year. 7.5 billion birr (64.2 percent) during the equity was 25.6 percent. This profitability fiscal year under review.

www.capitalethiopia.com 4 Advertisement Year 23, No. 1151 Sunday Dec. 27, 2020

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 Local News 5 Nyala Insurance unveils another stride performance Paid-up capital soars to 600 Million Birr

By our staff reporter

Despite the COVID-19 Pandemic and social unrests in the country, Nyala Insurance S.C. (NISCO) declared it has collected more than half a billion Birr premium income from its general and long-term insurance businesses, an increase of 15 per cent over the preceding similar period. During presenting the company’s annual performance report to the company’s shareholders who attended the 26th General and the 19th Extra Ordinary General Meeting held at Sheraton Addis on 22nd December 2020, Getachew Birbo, of 6 per cent as weighed against the practices and implementation of business According to the CEO, NISCO’s being the Chairman of the Board of Directors, preceding year’s records. innovations based on the customers’ needs prior in providing COVID-19 insurance and concerns. policies to cover deaths and related disclosed that NISCO has earned Birr By the same token, the chairman revealed 565.3 million premium income, a risks of the pandemic has enabled it to NISCO also registered a 28 per cent The shareholders of the company have noteworthy sum as contrasted with the attract interests and attentions from many growth in its long-term (life and health) also decided to increase the paid-up capital very big challenges in the country. international and domestic clients. insurance business and thereby secured to Birr 600 million, currently the highest Moreover, the chairman underlined that Birr 101 million. in the Ethiopian insurance industry. Yared went on to say his company is the gross profit also jumped from Birr Yared Mola, the Chief Executive Officer dedicatedly exerting utmost efforts to 146.8 million to Birr 149.3 million, and Of course, the net claim expenses of ensure quality services and innovative the company increased from about Birr of Nyala Insurance S.C., on his part the total asset of the company reached said the outstanding achievements so insure-tech products by focusing on the Birr 2.2 billion, depicting an increase of 31million to Birr 50 million, a 62 per cent insurance needs of the digital natives. rise from the last year, he added. far realized within the company are the 8 per cent over the last similar period. results of thoughtfully designed business Established in 1995 with a paid-up capital According to the chairman’s report, the In his report, the chairman indicated development strategies, risk management of Birr 7 million, Nyala Insurance is now underwriting surplus generated from the that the reasons for the noteworthy techniques and efficient claim handling near to finalizing the construction of its general insurance businesses surpassed achievements in the premium income were processes that NISCO has keenly put in 18-floor headquarter building on Bole Birr 123 million, showing a total growth due to the company’s prudent underwriting place. Road, Africa Avenue.

www.capitalethiopia.com 6 Local News Year 23, No. 1151 Sunday Dec. 27, 2020

percent from national commerce association. while on my evaluation the draft proclamation Yohannes Woldegabriel, prominent legal has not considered that. Due to that it may not Draft proclamation . . . expert particularly engaged in arbitration at be accepted by parliament,” he explained. the chamber said that at the preamble the He added that city chambers should be Continued from page 1 draft stated that the proclamation required formed and they report to regional bodies. the business community.” He recommended the proclamation to consider the formation of a strong chamber that shall “It mentioned the government economic play pivotal role on the economic growth Mohammed Nur Sani, who is well know the involvement of associate members like policies at the preamble, which is not of the country in providing inputs for the on the leadership of such kind of business higher education or other non-governmental necessary to mention for the formation of government and stake holders. associations, said that basically industry or organizations with not vote. chambers because they are independent from agriculture are commerce due to that the name The veteran sector expert said that the “Against the experience of other countries, the politics,” he added should be chamber of commerce other than percentage on the representation of board draft proclamation rejects city chambers and Wubshet Hailu, owner of Watt International, adding other words. “Most of the countries of directors would not benefit the interest targets to undertake the way of state structure,” strongly criticized the draft proclamation are using similar name for chambers,” he said. of the members. Other rationality and he says “Cities are the initial point for the that he said on the drafting process was not Mohammed argued that the proclamation does optional formula should be considered on the formation of national chamber. In my view consulting former chamber leaders who not have any change regarding membership representation,” he added. urban based chambers should be encouraged.” perfectly understand the challenges and gaps from the existed 18 years old proclamation, The draft proclamation stated that the board He reminded that EPRDF had extreme on the existed proclamation. “It was one of the major differences on the of directors comprised by 50 percent from stereotype on urban based chambers and He added that the chamber of commerce must current proclamation. Membership shall regional chamber of commerce and industry, expressed his concern that this one may repeat be established from the grass root at the city be open for every interested individual 40 percent from national manufacturing that. According to him, two tiers system shall level, while the draft dissolved such structures. companies or businesses.” industry and sectoral association and ten be applicable like others countries by including “I fill that it looks like a ‘Treaty of Wuchale’ urban and national chambers other than the (a treaty signed between the Ethiopian idea stated on the proclamation. government in the era of Emperor Minilik “Strong urban chamber shall help the business and Italy that was the cause for Adwa War) Ethiopia set to start . . . community than the current situation due to that because it aims to enforce members to get is supposed to be implemented,” he explained. certification for their every activities,” he says. Continued from page 1 The participants also expressed their concern “It is indirect rule like the motive of a ‘Treaty that besides city chambers it totally ignored BSD now can compile quarterly FSIs for compiling MFS standardized report forms of Wuchale’,” Wubshet said expressing his other economic zones like industry parks and disappointment on the draft proclamation, the workbook developed by the for the central bank and other depositary DTs using manufacturing industries that for example and added that his companies will totally mission and agreed on for reporting FSI data corporations in January 2019,” it added. concentrated on the outskirt of Addis Ababa. leave the chamber if this will be ratified. and metadata, a key for interpreting the FSIs Ethiopia is currently under Extended Credit/ Elias Genete, former President of Addis Ababa and to allow for cross-country comparisons, Eshete Assefa, State Minister of Trade and Fund Facility (ECF/EFF) arrangements with Chamber Commerce and Sectoral Association, Industry, told Capital that the drafting process to STA for posting on the IMF’s FSI website. proposed financial sector reforms. expressed his concern that the proclamation of the proclamation inputs and claims that The quarterly reporting will start in this month “Improved FSIs are expected to facilitate might not be ratified by the proclamation were presented by the chamber leadership in for DTs with quarterly data beginning from the better monitoring of financial stability by the since it does not take into account the current the past has been considered. second quarter of 2017 and the institutional NBE and help guide economic policies in the government structure of the federal system. “We have created open discussion on the draft coverage with annual data starting from 2017. context of the ECF/EFF arrangements, by “According to the federal system of the proclamation and will consider the arguments “As this was the first FSI mission to work with shedding light on the underlying accounting country, regions have their own autonomy, before finalizing the proclamation,” he stated. the BSD in developing an FSI compilation and regulatory frameworks for the FSIs,” the framework, the mission reviewed the FSIs IMF said. currently compiled by the BSD to assess It said that as a result of the mission, the consistency with the 2019 FSI Guide and NBE is now in a position to report quarterly found discrepancies in key indicators, FSIs to STA in line with the 2019 FSI Guide. including nonperforming loans (NPLs) to total “Together with staff of the bank supervision gross loans, interest margin to gross income, department, the mission compiled 22 FSIs for noninterest expenses to gross income, and deposit takers (DTs), and two FSIs on the size capital to assets,” IMF explained. of Offshore Financial Centers (OFC’s) sector According to IMF technical assistance report, from the existing source data. The coverage of the main objectives of the mission that DTs for the compilation of FSIs includes 17 was conducted from June 15 to July 10 via commercial banks which cover 90 percent of video conference were to: review the source the entire DTs sector,” it explained. data, institutional coverage, and accounting and regulatory frameworks supporting the The FSIs for DTs cover key aspects of compilation of FSIs; provide guidance for capital adequacy, asset quality, earnings and mapping source data for the banking sector to profitability, and liquidity, providing a useful the FSI reporting templates as well as preparing input for financial stability analysis. the metadata; and agree with the authorities on The mission was able to assist the NBE in their the timeline to begin regular reporting of the mapping to the FSI workbook and validated FSIs for deposit-takers to STA. aggregated data from bank- by- bank data It added that the mission also provided technical for December 2019. In addition, the mission assistance to the NBE on the compilation of net reviewed source data from the balance sheet, open positions in foreign currencies. income statement, and supervisory data from “This was the first STA mission on FSIs June 2019 to December 2019 and made for the NBE. Ethiopia does not report various recommendations to improve the FSIs to STA but it does produce and share collection of source data. a select subset of FSIs with the AFR The mission assisted the NBE in the department. Prior to this mission, Ethiopia compilation of 11 core FSIs and 11 additional received a monetary and financial statistics FSIs for deposit-takers as well as two additional (MFS) mission which assisted the NBE in FSIs relating to the size of OFC subsectors. Ministry of Trade and . . .

Continued from page 1 reported that they had been damaged but of the war is the Semayata ceramics factory some said they were unable to comment on which was established five years ago with the damage due to the lack of security and capital of 500 million birr as result of the communication in the area. war the factory was completely destroyed. As most of the investors indicated during The government has solved the problem the so-called operation, most of their in the region and has vowed to restore the investments has been damaged, their region to its full potential. employees have been scattered and due Along with the law enforcement work, to the communication problem in the it has set up committees in each sector area some of the investor still have no to work for the restoration of the country information about their investments. therefore, discussions are underway to get Among those burned and robbed are; Zenit employees in the region to work. Gebs Eseht, Semayata Ceramics, Ajj milk The manufacturing industry has a processor, savanna leather and Almed significant role to play in the country’s textile are some. economic growth, job creation and other According to Gebreegzi Tshaye, owner of social and political issues. Zenit Gebs eshet, Zenit has set up a modern According to the Ministry information, there factory in shire town in addition to Akaki are more than 90 large industries and about and Gelan birr. His factory was demolished 1000 of small and medium enterprises, by a heavy machine, destroying property which has created job opportunities for worth of 92 million. Also, another victim 300,000 peoples in the region. www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 Local News 7 Berhan lights up in success despite pandemic year Significant earning per share and profit registered

By Muluken Yewondwossen

Berhan Insurance registered significant earnings per share and profit for the 2019/20 financial year with higher premium. The company that issued its annual performance in the general assembly held two weeks ago indicated that its operation for the past financial year was successful in different aspects of operation in the industry. Tewodros Meheret, Board of Directors Chairperson, said that in spite of the challenges posed by the coronavirus and political instability the company has performed well and registered profit. The company’s gross written premium income stood close to 140 million birr with 15 percent increment compared with PHOTO: Anteneh Aklilu the preceding year. 36 percent of the preceding year. million birr during the reported period with that was 24.4 million birr a year ago. In the 2018/19 financial year the gross 37 percent growth from the preceding year written premium was 122 million birr. The annual report of Berhan Insurance The earnings per share have also expanded indicated that the gross incurred claim, that was 45 million birr. The underwriting to 29 percent from 24 percent of the 2018/19 The motor class of business written which includes movement in outstanding surplus on the motor sector and pecuniary financial year. The growing of earnings per premium has took the top by 57 percent claims provision, amounted to 64 million stood at 41 and 25 percent respectively. share shall be registered as one of the few share or 80 million birr that was 71 million birr in 2019/20 as against 66.6 million birr in The company profit for the year has grown companies who attained growth in the year. birr a year ago as the usual trend in the 2018/19 meaning that the gross loss incurred by over 10 million birr and stood at close insurance sector and flowed by pecuniary Berhan’s paid up capital as of June 30, has dropped from the preceding year. to 36 million birr before tax. A year ago with 15 percent share. 2020 has reached at 117.7 million birr that The gross earned premium has increased the company profit before tax was 25.5 was 100 million birr a year ago, while the In the 2019/20 financial year the gross to 133 million birr from 113.4 million birr million birr. total equity capital amounted 159 million. claim paid has expanded to 71 million birr of 2018/19 financial year. In the reported period the company has from 44 million birr of a year ago. The Its assets has also climbed by over 30 million amassed 34 million birr net profit after tax ration has also increased to 51 percent from The underwriting surplus has surpassed 61.4 birr and reached at 440 million birr. DBE floats Ayka Addis for auction, again

By Metasebia Teshome a paid up capital of 679 million birr by attract bidders primarily because of the but failed to sustain the momentum and Turkish investment groups. The factory high price set by the development bank as since 2014, it was operating on a loss has been out of business for more than a well as its competitiveness with regards to until it declared bankruptcy in 2017. The Development Bank of Ethiopia has year and has been paying its 4500 staff for its marketing. company is believed to have created 7,000 floated the first auction to sell the giant jobs at the time. Ayka Addis textile after it was decided free work due to lack of operation. Ayka Addis Textile Factory is located on to be managed by the development bank. Due to the inability of the company to repay a 20.1 hectares piece of land with 4,500 A month ago, officials from the Ministry The banking system has also stated that the 3.2 billion birr loan that was provided workers and it is said to have the capacity of Trade and Industry, officials from the the once giant company will come back to by the Development Bank of Ethiopia, to employ more than 10,000 workers. Development Bank of Ethiopia and the operation in short period of time. the development bank had made attempts Ayka Addis was once considered to be an Confederation of Trade Unions visited the In total the Turkish company which was to auction it. The loan was provided at anchor investment that Ethiopia succeeded factory to discuss issues that will enable it floated on auction for the sixth time, had the onset of 2008 with the expected loan to attract. However, it did not take long for to start operations soon. failed to repay its loan from the bank and as repayment time provided till 2013, which the company to face the dreadful realities of “In the future, short, medium and long a result it has also failed to attract bidders. of course was unsuccessful. shortages in raw materials mostly cotton, term plans will be prepared and the An Integrated Textile Factory building, Ayka Addis Textile & Investment Group lack of skilled labor and power outages. workers will be able to return to work and machineries, Equipment & furniture, is the first company to be auctioned, and The political crisis also contributed to the factory will be operational in a short vehicles, Auxiliary tools, various spare parts, it failed to attract bidders who can offer the malfunctioning of Ayka Addis. At period of time,” stated Melaku Alebel, Raw Materials/ inputs, Work-in progress, 1.8 billion birr. The company failed to first, Ayka Addis seemed to be doing well Minister of Trade and Industry. finished products /fabrics, and some other related items are set to be auctioned with close to 1.82 billion birr with negotiation. As officials form development bank said, the bank took over the factory coercionary. The return of exhibitions and bazaars However, the process of making the factory operational is finished and will be By Metasebia Teshome expected on a daily basis. As part of the meetings industry, exhibitions operational in short period of time. The Tadesse explained that Jokra for the past are both very much affected by protective measures as they are a vital means to support officials explained that administering the After a year of silence due to the Covid-19 month were in keen preparation for the industries in challenging times. factory to make it operational will help global pandemic, exhibitions and bazaars exhibition in accordance with the current the factory to attract buyers. Therefore, have started to get under way. situation of the global pandemic and Similarly, on the exhibition that grove the group A once projected thriving textile garden organized at Gion hotel, about Currently two large exhibitions have public health protocols. company that became bankrupt is set to 125 traders are expected to participate. As started in the capital; one at ‘Mechare He expressed that after accessing the make a comeback. Melat, sales executive of Grove garden, Meda’ organized by Jorka events and at situation, the city administration gave the As from the last fiscal year, the state- said the exhibition will stay for 13 days Gion hotel organized by Grove Garden. go ahead to Jorka which has an experience starting from Friday December 25 of which owned bank had ratified the annual budget of 6 exhibitions under its belt. to manage some companies that failed to Following the surge of the novel Corona 5000 visitors are expected to visit. attract buyers, including Ayka Addis. Virus, many businesses were placed at risk Last year’s Christmas exhibition and Both organizers have indicated that they in this industry. As a result, holiday season bazaars was the last gatherings before the Apart from Ayka Addis, DBE also is in have highly prepared to manage Covid bazaars and exhibitions which were very pandemic outbreak in Ethiopia. As a result 19 transmission during the exhibition. attempts to the auction four companies in vibrant and familiar were banned due to total that failed to repay their loan from of the pandemic, Mawlid, Easter, Ethiopian Tadesse from Jorka emphasized that they the public gathering restriction ever since New-Year exhibitions did not take place have deployed large amount of human the bank. The four companies which the outbreak set foot in Ethiopia. significantly the state policy bank seeks due to the restriction of public gatherings. resource to prevent visitors from getting billions of birr from are: Ayka Addis The exhibition that is now organized Usually, on Christmas, Mawlid, Easter, infected and Melat from Grove Garden textile group, Omo valley corporation, by Jorka events at Mechare Meda is set New-year holiday sessions, exhibition and echoed the same by saying that they Alsi Addis industrial group and Angeles to start from December 27 staying up to bazaars take palace in different parts of the have prepared necessary appropriate cotton and textile production. The four Wednesday January 6, that is, until the eve city. precautions to limit transmission. companies were put up for sale by the of the Ethiopian Christmas. Around the world, many authorities have In recent periods, Ministry of Health have DBE for failing to pay their debts. Tadesse Tamrat, the marketing manager begun allowing exhibitions and business gone on record by expressing that the The company, Ayka Addis Textile and of Jorka, explained that the exhibition is events to take place again, given certain Covid spread in Ethiopia is on the rise as Investment Group was established in May expected to host more than 250 traders as preconditions and protective measures are well as dramatic increase of the intensive 2012 with a total capital of 1 billion and participants and up to 3000 visitors are put in place. care hospitalizations. www.capitalethiopia.com 8 Advertisement Year 23, No. 1151 Sunday Dec. 27, 2020

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 Local News 9

been suspended or delayed because of right off way and exaggerated compensation. ERA’s head suggests that the government Public Infrastructure developers should annul these kinds of projects and invest the resource on other areas for who really demand their areas improvement; otherwise it will be difficult to run like this. call for national dialogue “Currently we have 300 active projects that now we are concerned how we finished them on integrated manner. National strategy should By Muluken Yewondwossen some of them are secured from foreign “I am wondering that there are massive loans. He said that the situation would make infrastructure development demands in the be emplacing to complete existed projects and elevate some illegal acts that sometime stand Public infrastructure developers’ call for the poor country poorer and is supposed to country, but the situation in the reaction against the constitution and proclamations national dialogue to come up with a common be corrected immediately. is very different when the government on accessing natural resources. We have to understating and accelerate upcoming He said that it is not about law and regulation, comes up with response,” he expressed his insure on enforcement of laws to accomplish investments, otherwise it would be difficult this needs commitment from all government confusion on the situation at the ground. projects,” he said and recommended regions to meet the public development demand. apparatus for mutual understanding. “In the past there were claims that the farmers to come for discussion to elevate challenges On the Urban Development and Construction “The lower tiers of government body is are not properly engaged on compensation, and accelerate the projected developments Standing Committee meeting to hear Federal expected to support projects that come on now I am afraid it is interpreted wrongly and set in the coming ten year development plan Integrated Infrastructure Development their area than engaged with misdemeanor on the reveres,” he added. besides the existed ongoing projects. Coordinating Agency (FIDCA), Almaw behavior and support for exaggerated He said that development is coming for At the meeting, most of the participants Mengiste, head of FIDCA mentioned compensation request and delayed the right those specific areas but actual commitment appreciated inclusive discussion at national several mismatches regarding coordinated off ways,” Ahmed claimed. and support from lower government official level for similar concusses to going on development, exaggerated and conflicting But he appreciated some regions that are is very reluctant. smooth manner. compensation rates from one area to other truly focused on developmental works than “For instance for project with 5km the Ahmed of Ministry of Finance proposed the for similar assets, besides damaged on creating problems. compensation has become very high developed infrastructures and others that he formation of technical taskforce at higher Shiferaw said that lack of coordination compared with the project cost,” he expressed level to solve problems. said costs the country. costs the country huge amount of money his concern on the behavior of demanding At the discussion, Shiferaw Telila, head of including the foreign currency besides inadequate and exaggerated compensation. Aisha Mohammed, Minister of Urban Development and Construction, shared Ethiopian Electricity Utility, representatives cutting services. He said that the responsibility of lower of Ethio Telecom, and Habtamu Tegegne, the idea of other leaders and said that Similarly, Ethio Telecom representatives government bodies, which are in charge regions are coming with public demand for Director General of Ethiopian Roads have expressed their claim that their to engage on identifying individuals for Authority (ERA), and members of the development but when projects come to service is frequently interrupted because compensation, should be defined. effect massive problems are created. standing committee expressed their of other projects that are carried out on According to Habtamu, in the past budget concern on the damage and extraordinary their infrastructure areas without their According to her, regarding law enforcement, year alone ERA has paid more than four compensation demanding behavior that knowledge accompanied by theft. the draft amendment of the proclamation has they said it would make difficult to continue billion birr that he said based on the current been tabled at the Council of Ministers. The frustrated ERA head, Habtamu, said behavior it would skyrocket up to nine like that. that lack of commitment on lower tiers She said the value estimation work should billion birr, “How can we continue like be undertaking by responsible entity, which They said that the situation has become of the government body and regions has this?” he asked. above and beyond the capacity of FIDCA, forced projects to be delayed. He insisted should be formed for this purpose, than the which is responsible to manage the the government to suspend budgets and He claimed that because of different trends that are seen in most of the regions, coordinating development platform for redirect for development work if they are challenges including delaying on right off who conducted the estimation on temporary roads, water and sewerage, electricity, not willing working amicably for projects way issue and compensation and access committee that is not viable to come up and telecom infrastructures as per the that come to their area. to natural resource like sand and quarry with accurate value estimation. projects are delayed. establishment proclamation of 2014. “It would be better if regional leaders were “Uniform compensation price index is At the meeting held on Wednesday in this meeting. It is beyond the power and “We and contractors are accused for projects under drafting process,” Aisha added. December 23 at Parliament, Ahmed Shide, mandate of FIDCA that regions should seat delay but one ought to identify details for the Finally she called for immediate discussion Minister of Finance, said that the situation down and discuss for common solution,” he reason than blaming,” he added. that includes regions on the aim to solve is damaging the country’s resource since said. He mentioned several projects that have problems.

www.capitalethiopia.com 10 Local News Year 23, No. 1151 Sunday Dec. 27, 2020 PHOTO: Anteneh Aklilu increased by four percent and reached 240 million birr before tax. The profit after tax for the year has been 208.6 Enat bank surpasses the ‘billion million birr up from 201.6 million birr in 2018/19 financial year. Due to the expansion of paid up capital, the earnings per share for the year has birr’ mark in total income reduced to 161 birr from 185 birr of the 2018/19 financial year. By Muluken Yewondwossen 8.4 billion birr, while the depositors have As the income registered significant reached more than 120,000. increment in the stated period, the As of June 30, 2020 the paid up capital expenses have also skyrocketed due to that turned a billion birr in the 2018/19 Enat Bank’s total outstanding loans and The other major move for the bank was the operational and interest expenses financial year has reached 1.4 billion birr, advances have continued on its massive the income that it secured in the reported increase. The report indicated that of which was 1.2 billion birr a year ago. expansion in the past financial year. In the period. In the year, the bank income had the total 1.1 billion birr, the expense The annual report shows that Enat’s total 2019/20 financial year, it has surpassed surpassed a billion birr which is a first for in operational and interest expenses asset is at 11 billion birr from 9 billion by 27 percent with almost 1.5 billion birr Enat, which is one of the late comers in constituted 60 percent; the report explains birr a year ago. In related development, increment. the financial industry. the reason by quoting that, “The growth the long serving president of Enat Bank, The annual report indicated that the total The annual report of the bank indicated that in total expense was mainly driven by Wondwosen Teshome, has resigned from income that it secured for the 2019/20 the outstanding loans and advances have growth in interest bearing deposit, which his post, he will however continue as financial year was over 1.3 billion birr reached at 6.5 billion birr. In the 2018/19 massively expanded for the year.” advisor based on the request of the Board which is an increment of 35 percent. The financial year, Enat’s total outstanding of Directors the bank. report explained that the income growth In the 2018/19 financial year, the bank loans and advances were 5.1 billion birr is mainly attributed to interest income expense stood at 751 million birr that Wondwosen, who has a four decade which climbed by 1.7 billion birr compared earned on loans and advances extended increased by 45 percent or 338 million experience in the financial sector, served with the 2017/18 financial year. to customers. In the 2018/19 financial birr in the 2019/20 financial year. the bank for about seven years. Ermias The deposit mobilization for the year has year the total income was 983 million The annual report indicated that in the Andarge, Vice President for Corporate also grown by 17 percent and reached at birr. 2019/20 financial year Enat’s profit Service is expected to replace Wondwosen.

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 11 News Brief

in coronavirus cases. The Covid-19 Iin Addisn Ababa - as part of a wider United a significant boost of Dashen’s digital Somalia fails in pandemic first peaked in Africa’s most Nations support to COVID-19 efforts in customer base, which was just 50 thousand attempt to have Kenya industrialized economy in late July before the country. prior to the launch. infections tailed off. The country is in the “Combating COVID-19 requires us all - CEO of CR2, the Irish Based Digital reprimanded at IGAD midst of a second wave of the disease that governments, individuals and organizations Self Service Payments company, who began shortly before the festive season from across industries and sectors to work deployed its digital Banking platform to Somalia’s attempts to have Kenya -- which sees millions of people traverse together. ECA is pleased, therefore, to launch Amole Digital Wallet for Dashen reprimanded at the regional bloc, the country to holiday destinations and provide the EPHI with these vehicles for together with Moneta Technologies, Fintan Intergovernmental Authority on home towns and villages. Netcare Ltd., use in COVID-19 emergency response, as Byrne, receiving the award on behalf of his Development (Igad), fell through after Life Healthcare Group Holdings Ltd. we all pray for the end of the pandemic,” company and Dashen Bank and Moneta leaders at the Summit largely disagreed and Mediclinic International Plc, the said Haddad. Technologies said, “I am very pleased to country’s three biggest private hospital with severance of diplomatic ties. Instead, The donation follows a request by the accept this award for the Most Impactful groups, which had spare capacity in most the heads of state and government gathered EPHI, which currently runs a Public Project in the Category of Digital Wallets areas during the initial surge, all said they in Djibouti City on Sunday asked Somalia Health Emergency Operation Center Deployment.” were confronting bed shortages. In four of to focus on the electoral calendar as well in collaboration with Ethiopia’s health Currently, on average, more than 200 million South Africa’s most populous provinces, as reconciliation and security programmes ministry to prevent and control the spread birr is being transacted through Amole on a “we have noted a substantial resurgence in the country. Somalia had demanded that of COVID-19 in the country. daily basis. Amole is contributing its share an independent team from Igad be sent on in Covid-19 patients and the health-care (Press Release) for the country’s effort to create a digital the common border of the two countries, system is under significant pressure,” said economy and cashless society. Charl van Loggerenberg, Life Healthcare’s where Somalia has alleged Kenya is aiding (Press Release) Somali militia, a charge Nairobi denies. general manager of emergency medicine. Amole wins IBSI Global The 38th Extraordinary Summit of Igad (Press Release) was meant to discuss regional security Fintech Innovation Term challenges, humanitarian situation in of the Tigray as well as the rising Covid-19 ECA donates vehicles Award 2020 infections in the region, which had so far to support COVID19 Amole, the best digital platform in Ethiopia, of Day reached 290,000 with more than 5,300 Dashen Bank has won the 2020 International deaths. But the meeting was preceded by a response initiatives in Banking Service Intelligence (IBSI) global series of protests from Somalia, including financial technology and innovation award DEBIT cutting ties with Kenya, accusing Nairobi Ethiopia provided by IBS Intelligence. of interference in Mogadishu affairs. (Press Release) “We are gathered here today to extend our IBS intelligence, headquartered in the UK, Definition hand of solidarity in response to an appeal conducted the virtual award ceremony by the Ethiopian Public Health Institute on Dec. 11, 2020 and announced that An accounting entry which results in either Virus surge puts South (EPHI) for support in their COVID-19 Amole has won the IBS Intelligence an increase in assets or a decrease in liabilities or net worth. opposite of credit. response activities,” said Carlos Haddad Global Fintech Innovation Award 2020 for African hospitals under who heads the Division of Administration Most Impactful Project of Digital Wallet severe strain at the Economic Commission for Africa Deployment. Usage Example (ECA). IBS indicated during the award ceremony South African private hospital operators He was speaking during a ceremony to that by Sep. 2020, just 24 months since The money I paid for my Amazon purchase appeared as a debit on my account two have warned that they are facing severe handover two 30 seater Nissan Civilian launch, over 3.9 million accounts were weeks after I received the item. capacity constraints due to a resurgence buses to the EPHI on 24 December 2020 registered on the Amole wallet. This is

www.capitalethiopia.com 12 Year 23, No. 1151 Sunday Dec. 27, 2020

Ever catch the perfect picture with your digital camera or camera phone and wish you could find a way for others to experience it? Here is your chance. If you find yourself at the right place at the right time and happen to catch an amazing scene you believe someone else should see, send us your Spotlight news pictures with no more than 30 words to [email protected] and we will publish it. Equity crosses the ksh TEJ DFC, Rockefeller 1,000,000,000,000 Foundation sign balance sheet mark agreement to invest in

Equity Group has crossed the solutions to end energy Ksh.1,000,000,000,000 rubicon becoming the first bank in Eastern and Central Africa to cross poverty this mark. The milestone was achieved upon successful migration of BCDC to Equity’s Finacle The Rockefeller Foundation and U.S. International core banking platform. The one trillion mark by Development Finance Corporation (DFC) Equity lifts the visibility of the financial sector in announced they have signed a Memorandum of Eastern Africa significantly to compete favorably Understanding to work to end energy poverty by with financial institutions in South Africa, promoting investment in Distributed Renewable West Africa and North Africa for project and Energy (DRE) around the world. The agreement development finance. will focus on delivering reliable, sustainable electricity to the 800 million people worldwide Speaking when announcing this milestone from who currently lack electricity, and 2.8 billion more Kinshasa Congo where he was witnessing the who have unreliable access, to support economic migration of BCDC to Equity’s core banking recovery from the COVID-19 pandemic and foster platform, Dr. Mwangi said, “We are delighted long-term economic growth. to witness this milestone that has shattered the PHOTO: Anteneh Aklilu psychological barrier of a trillion-shilling balance The partnership will be built around three pillars; sheet.” He added, “The benefits to our customers Financing, Global Platform, and Green Energy will be immense. The bank is also the most “The pandemic has undermined decades of capitalized in East and Central Africa with over progress on poverty reduction,” said Dr. Rajiv J. Ksh. 142 billion giving it a single lending obligor HISTORY Shah, President of The Rockefeller Foundation. of Ksh. 35 billion. Equity banking subsidiaries “Global cooperation and investment are desperately will now be in a position to leverage the Group’s needed to address this crisis and ensure a broad and strength to extend large corporate loans across all inclusive economic recovery. Our collaboration the countries where Equity operates. with DFC will be key to unlocking significant investment in distributed energy and will build on the Foundation’s work to expand access to reliable, sustainable electricity that can power the lives and Vera Songwe leads ECA livelihoods of hundreds of millions of people.” in celebrating UN Arabic Day Uganda Airlines flies

On 18 December, United Nations staff, further with its brand- representatives of the Council of Arab Ambassadors in Addis Ababa and the Permanent new A330neo Mission of the League of Arab States to the AU, Ambassadors, and the Arabic community in Addis Uganda Airlines, the country’s flag-carrier, has taken delivery of its first A330neo, the latest Ababa, came together to celebrate the UN Arabic PHOTO: Anteneh Aklilu Language Day at the ECA Conference Centre. version of the most popular widebody airliner. It is the first Airbus aircraft delivered to Uganda In her opening remarks at the event, ECA Executive Airlines, which was established in 2019. Secretary, Vera Songwe, spoke in Arabic and said that it was an honor and privilege for ECA to be DEVELOPED AREA In line with the Company's strategy to keep celebrating the UN Arabic Language Day for offering its customers unbeatable economics, the third time at the Economic Commission for increased operational efficiency and superior Africa. passenger comfort, the A330-800 is the latest addition to Airbus’ commercial aircraft product The Executive Secretary seized the opportunity line. Thanks to its tailored, mid-sized capacity to salute the Council of Arab Ambassadors in and its excellent range versatility, the A330neo is Addis Ababa and the Permanent Mission of the considered the ideal aircraft to operate as part of League of Arab States to the AU and ECA for the post-COVID-19 recovery. their continued support of this annual event. She also thanked her ECA colleagues for their efforts The A330neo will enable the new airline to in the preparation of this event. launch its long-range operations with non-stop intercontinental flights to the Middle East, Europe and Asia. Ethiopia sets 1 January 2021 for Satellite TV BAT progresses COVID-19 channels to migrate to candidate vaccine into 57 degrees East PHOTO: Anteneh Aklilu Phase I human clinical

As of 1 January 2021, Ethiopian TV audiences trials will access majority of their favourite Ethiopian BAT's US Bio-tech arm, Kentucky BioProcessing TV channels exclusively on Ethiosat at 57 PIASSA NOW (KBP) announced plans to commence a Phase I, degrees East. Ethiopian viewers should have their first-time-in-human study of its COVID-19 vaccine respective local satellite antenna installer adjust candidate following approval of its Investigational the position of their antenna to access the Ethiosat New Drug application by the U.S. Food and Drug direct-to-home platform, following the press Administration (FDA). Enrolment for the study is announcement from the Ethiopian Government. expected to begin shortly. The partnership agreement signed between The COVID-19 vaccine candidate will become one Ethiopian Broadcasting Authority (EBA), of a number of potential vaccines to have progressed Ethiopian Space Science and Technology Institute beyond pre-clinical testing. The study is designed (ESSTI), which represented the Ethiopian to enroll a total of 180 healthy volunteers who will government, public and private broadcasters and be divided into two age cohorts, age 18-49 and age SES, the leader in global content connectivity 50-70. Each group will then be subdivided into solutions, marks for the beginning of a new low and high dose treatment groups (N~45) and era for TV viewers in Ethiopia as the country randomised 2:1 to receive either the low dose (15 moves permanently towards the consolidation μg KBP-COVID-19 vaccine + 0.5 mg adjuvant) of Ethiopian content into one prime TV or placebo, or high dose (45 μg KBP-COVID-19 neighbourhood. vaccine + 0.5 mg adjuvant) or placebo. Results Ethiosat is Ethiopia’s first-ever dedicated free-to- from the study are expected mid-2021 and, if

air (FTA) TV platform, hosted on SES’s NSS-12 PHOTO: Anteneh Aklilu positive, would allow for continued progress into a satellite. Phase 2 study, subject to regulatory approval.

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 Advertisement 13

INVITATION for International Tender Plant and Design-Build wastewater treatment plant and Rehabilitation of Existing Physio-chemical Unit Project of AAAE/ International Procurement 04/2020

Addis Ababa Abattoirs Enterprise here by invites all design proposal. The manure dewatering machine is interested and eligible bidders for Plant and Design-Build found at client’s store. The manure dewatering machine wastewater treatment plant(WWTP) & Rehabilitation of is to be erected according to Ethiopia & International Existing Physio-chemical Unit Project for Addis Ababa standards based on the contractor’s design. During the Abattoirs Enterprise/AAAE/. project implementation phase the bidder is expected to The Project works comprising the design, supply, train the client’s staff to insure the sustainability of the construction & commissioning of a new wastewater abattoir wastewater treatment plant. treatment plant (WWTP) & rehabilitating the existing The bid document can be obtained from procurement & physio-chemical treatment unit to integrate with the property work process of the enterprise against payment newly proposed abattoir wastewater treatment plant of non-refundable fee of 1000 birr (one thousand birr ) within the provided area in the premises of the abattoir. during working hours from the date of this publication. In addition to this newly purchased manure dewatering All Design build contractors are required to submit a machine that is currently available at clients store is bid bond of 2% of the bid amount in the form of bank to be installed as part of pretreatment unit and to be Guarantee, cash or CPO only issued by a recognized integrated with the expansion work. local bank along with the bid document. The proposed procurement procedure is of a Plant & All sealed offers should be submitted on or before Design-Build project type. The scope of the project 23 comprises of all works to design & build a wastewater February 2021 at 10:00 AM (GMT + 3) to Procurement & treatment plant of the Abattoir, integrating the existing Property Administration Work process of the Enterprise. physico-chemical treatment plant & manure press The bid will be opened in The Addis Ababa Abattoirs machine. The existing physico-chemical treatment unit Enterprise on 23 February 2021 at 10:30 AM (GMT + 3) needs to be rehabilitated & refurbished to the extent in the presence of bidders or their representatives. that makes fully functional. Physico-chemical treatment The Enterprise reserves the right to accept or reject all unit may need to be relocated based on the contractor’s or part of the bid without assigning any reason thereof.

OUR ADDRESS AND CONTACT

Address: AAAE, Wereda 05, Kebele 08/09, House 1, Addis Ababa, Ethiopia Street Address: Pushkin Street Road - Commonly called as KERA. In front of Commercial Bank of Ethiopia, Goffa Branch Telephone: Landline: +251114652294; +251114667501/+251114664703; + 251 114 66 89 74; +251 114 66 89 78; Facsimile: (+251) 114 65 42 23 E-mail: [email protected] with copy to [email protected]

www.capitalethiopia.com 14 Year 23, No. 1151 Sunday Dec. 27, 2020

DISCOURSE WITH DR. DESTA REQUEST FOR EXPRESSION OF INTEREST (EOI) KWANZAA, CULTURE Title of the EOI: Cleaning and Janitorial Services Date of this EOI: 22 December 2020 AND HEALING Closing Date for Receipt of EOI: 5 January 2021 EOI Number: EOIUNECA18008 Habari gani…what’s the news?! Today’s Kirubel Melke’s Alliance Ethio-Francaise E-mail Address: [email protected]; [email protected] Kujichagalia, the second day of Kwanzaa, exhibition running till January 1st, is simply a seven-day African American cultural outstanding. The Addis Ababa University Address EOI response by email to the Attention of: holiday, widely celebrated from December grad is an Ethiopian based visual artist 26 to January 1st. Dr. Maulana Karenga, whose work is informed by his garment Daniel Mamo/ Mr.Ali Assaad a California State University Professor, factory worker mom who has inspired UNSPSC Code: 76111500 initiated the holiday in 1966 with intent his body of work which Kirubel states is to raise African- American pride, self- “… a marker for daily life…explor(ing) sufficiency and consciousness. Kwanzaa has education, social injustice…tradition and become a cultural mainstay throughout the modernity, presenting pressing issues DESCRIPTION OF REQUIREMENTS African Diaspora, celebrated in some African relevant to contemporary Ethiopian culture.” countries. The seven principles of Kwanzaa, His quilting techniques are expressed in The United Nations Economic Commission for Africa colorfully commemorated each year, include: neat careful yet confident and free hand 1. Umoja (Unity) 2. Kujichagulia (Self- stitching with a selection of unlikely media (UNECA) is located in Addis Ababa, Ethiopia is seeking determination), 3. Ujima (Collective Work such as a sea of denim pants pockets; Expression of Interest (EOIs) from qualified companies and Responsibility) 4. Ujamaa (Cooperative abstract contemporary designs and figurative Economics) 5. Nia (Purpose) 6. Kuumba fabric cutouts…all on stretched canvases. with the required experties and experience for the (Creativity) and 7. Imani (Faith); essential Personally, each piece told a story, begged provision of Cleaning and Janitorial Services. principles for the holistic prosperous African. for attention and closer and further looks, Whether you celebrate Kwanzaa or not, to investigate not just the artist’s technique The United Nations Economic Commission for Africa but his perspective of life. His style has been the principles are relevant to all Africans, (ECA) complex is located at Menilik Avenue, at Addis particularly self-determination, affirming well received by art lovers for his fresh, warm, inviting and unique approach. Though the right and responsibility to define and Ababa,Ethiopia. It consists of eight main buildings and contemporary culture, depicting messages decide on one’s destiny, declaring with about family, urbans spaces, lovers and even pride, culture and heritage. So important is approximately 12 smaller buildings (approximately people with wasteful ways; I felt the energy this notion that the African Union enshrined of the art. I felt the warmth and ingenuity 110,000 m2),spread over an area of 11.05 hectares it in Agenda 2063, Aspiration 5, “… of cultural cloths being presented in such a and includes the Executive Secretary Residence for envision(ing) an Africa with a strong cultural contemporary manner; interrogating social identity, common heritage, shared values issues yet providing visual relief during these project of cleaning. and ethics…pre-eminent and inculcate(ing) difficult times. the spirit of Pan Africanism…”. It’s timely The main objective of this requirement is for the I then visited Guaramayne Art Center in and encouraging that the African Union has Piassa to find yet another exhibition based provision of cleaning and janitorial services at the United declared 2021 “Year of The Arts, Culture on textiles. Meron Hailu, Addis Abeba and Heritage” focused on “establishing a Nations Economic Commission for Africa (UNECA), based artist and educator holds an MA in robust and sustainable creative industries Textile Design from Duksung Women’s the United Nations Conference Center (UNCC) and its sector…”. While this is in line with Kwanzaa University in Seoul, South Korea. Meron principles 4 and 6, economics and creativity, related auxiliary and main buildings, (Niger, Zambezi, asserts, “My main focus is the human respectively, our culture also serves us in the experience, is values and ideologies that Nile, Congo, Limpopo, MRB, DRB, etc), connection highest social and psychological manner. shape the experience in the landscape and buildings and surrounding areas located within the Even for the greatest optimist, 2020 has been one lives in. I chose to portray landscape filled with enormous challenges worldwide. features personal and cultural meanings…. premises of the Economic Commission for Africa at The convergence of Covid19, protests, both as a unity of experiences of nature and locusts, military action, and more… leading an aesthetic form…”. The intricate layers Addis Ababa, Ethiopia. to loss of minds, lives and livelihoods has and myriad textured threads from fine and UNECA is precluded from entering into a contract with been numbing. My family was not spared. soft to rough and robust mirror life and My 25-year-old healthy daughter survived the juxtaposition of human experiences. vendor that is not fully registered with United Nations a massive heart attack after Doctors to use Meron’s artistic articulation, what she Global Market lace (UNGM) anddid not obtaine UN the defibrillator 6 times to keep her with us. refers to as, “..the interaction and sum of all One of her names in Nia and indeed she has these experiences…” are expressed through Global Market Place (UNGM) Vendor ID Number. Thus, a purpose. But there were many such stories convivial color and contrast reminiscent only those vendors who are registered or provisionally of youth to Elders whose mental and physical of the simple joys of sunrise and sunset health were pushed to the limits. And how over an urban or rural village with space registered or have started their registration process have we Africans handled 2020 challenges? and commentary on the plethora complex in UNGM will be eligible to receive the solicitation Culture has been center stage. For instance, relationships between people and nature, our cultural foods, from Ethiopia’s nutritious symbolic and figurative in a range of sizes. document. (Use https://www.ungm.orgwebsite to injera and spicy wots to Ghana/West Africa’s Suffice it to say, culture matters, the arts tasty egusi and warm fufu, they’ve kept registere at UNGM:). matter and our individual and collective our tastebuds, hearts and bellies content. expression of feelings is healthy and should While our traditional cultural rites have Interested vendors who fullfill therequirements are be welcome. Whether we are creators or helped us manage the sorrow of illness and observers, there is a space in which we required to submitte the completed Vendor Response death within our families and communities. should all become curators of our lives as However, one understated aspect of culture Form through the addresse stated above on or before we exercise self-determination and a desire is literally next to us, at all times, our cultural to be better, stronger, healthier, happier, 05 January 2021.Please direct all your queries to cloths, scarves and blankets; specifically, wiser, wealthier and kinder to ourselves and the ever so therapeutic gabi. The comforting United Nations Economic Commission for Africa using each other. May you all enjoy Kwanzaa and Ethiopia handwoven cotton blanket drapes all the different holidays you and yours hold the email provided above. the shoulders of the elders, the sick, the near and dear during this season, and may cold and even the lonely; providing a level our culture usher us into 2021 with a sense Vendors interested in participating in this planned of indescribable comfort and healing, but of purpose, pride and love. Happy to weave maybe that’s just me. Additionally, the sight solicitation process should complete the Vendor another column for you my avid readers, of kuta and netela wearing masses, gliding whom I have missed so much. Response Form (Found at UNPD Internet Site: https:// through the early mornings filling the streets with a sense of cultural pride, dignity and www.un.org/Depts/ptd/sites/www.un.org.Depts.ptd/ well-being, give optical re-assurance ‘… Dr. Desta Meghoo is a Jamaican born files/pdf/eoi18008pdf everything’s gonna be alright’ according to Creative Consultant, Curator and cultural catchy Marley melody. So, it was no surprise promoter based in Ethiopia since 2005. UNGM Portal: to find a trend of Ethiopian artists who She also serves as Liaison to the AU chose textiles to express their ideas and our for the Ghana based, Diaspora African https://www.ungm.org/Public/Notice/119846 experiences with textiles. Forum.

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 Advertisement 15

www.capitalethiopia.com 16 Year 23, No. 1151 Sunday Dec. 27, 2020 INTERVIEW Great Ethiopian PHOTO: Anteneh Aklilu

The Great Ethiopian Run RunInternational 10km is a flagship event held every year in November. Since 2002, the event has been the biggest road race in Africa and has been held without interruption for the past 19 years. The 20th edition of the race, the 2020 TOTAL Great Ethiopian Run International 10km, was scheduled to be held on 15th November 2020. However, due to the current situation of COVID-19, the race was postponed. The new date for the race has been set for Sunday 10 January 2021, with 12,500 participants. The mass race will employ three wave starts setting off with 15-minute intervals. Capital sat down with Ermias Ayele, the GM of Great Run Ethiopia for an inside view. Excerpts;

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 17

Capital: It has been 20 years since the inception of ‘The great Ethiopian run.’ How have the last 20 years been? Ermias Ayele: The first great run was held on November 25, 2001. 20 years is not by any means a simple time it is a long journey which have been encompassed by different milestones. I have been here for the last 11 years in different roles and within the last 20 years, the great run has achieved different progresses. For example, in terms of participants from 10,000 participants to 45,000 as of last year and even our plan for this year was to have 50,000 participants but the global pandemic has stopped us on our tracks. Due to the pandemic, we have decreased the number to 12,500 which is only 25 percent of our plan. All in all we can say the event has grown but this year is exceptional since the pandemic is global. Previously, there was only one race; The 10 km race, but now there is a children’s race event aside from the main 10km race and a disability race on the morning of the day of the 10 km race. Therefore, we can say the event by itself has diversified. The other thing that the great run has achieved is that it has become a large public driver in terms of changing the public awareness on sport. Whenever we promote our races’ we not only promote the races but we also give trainings to adopt active health living in the society. The other thing we do in relation with the race are different kinds of charity works. There is a campaign called running for cause with the aim of helping others. In the last 20 years we raised more than 15 million birr and supported about 32 organizations. Ministry of Women, Children and Youth select the beneficiaries and last year we raised 2 million birr and Ermias: Covid is a global issue and vulnerable to transmitting or becoming participants to take part in the run with a built schools in remote area found in therefore we have to think accordingly. infected by the COVID-19 virus degree of distancing. Although we have Waghimra zone in Amhara Regional State One of the challenges of Covid is the Race Packs will be provided: In the used wave starts in the past, for this race with the help of Haile Gebresilassie. We restriction of public gathering and since our week before the race all participants will we will employ multiple waves with no were planning to mobilize the community work by its nature needs public gathering receive, together with their race t-shirt, more than 1,000 participants in each in the area to organize a race but due to it held us down. The 20th edition of the a WHO-approved 3-layer cotton mask. wave. More details will be given shortly. Covid it has been canceled. race, the 2020 TOTAL Great Ethiopian Please note, however, that our annual The course will be a point-to-point course The great run has also resulted in sport Run International 10km, was scheduled to Sport Expo will not be staged this year with a finish area that is different and tourism. Tourists have been coming to be held on 15th November 2020. However, to avoid unnecessary gathering. All race separated from the start. We will have a Ethiopia with an aim of participating in due to the current situation of COVID-19, packs will be distributed at 8 selected system in place that guards against the the race. Last year alone, 400 people came we were forced to postpone the race. TOTAL service stations with participants gathering of large numbers of participants to Ethiopia to participate in the race. The We have canceled two races. One of our nominating their preferred collecting as they exit the finish. largest number we have received as race races was organized with Addis Ababa station at the time of registration. Capital: How much is the charity tourists was in 2015, with the number of Roads Authority dedicated on road To hydrate themselves during the run, support for this year? tourist participants being 700. At the time, safety, and the other was the children race participants will be encouraged to bring a research was done on the economic we prepared with the European union. their own drink on race day. A bottle of Ermias: Running for cause is the official impact of the 700 participants and it was Yet we didn’t just sit and watch, having Arki water will also be included in the fundraising campaign for 2020 Total found that the participants contributed 2 viewed global practices we prepared two race pack. great run to rise about 500,000 birr for million dollars to the economy. virtual races called stay safe Ethiopia, two selected beneficiaries working with Participants are strongly advised not to and also weekly video programs on how children and women. The first is ‘Tikuret The great run is also a platform for come to the race, on race day if they do athletes to promote themselves. to work out at home. Lesetoch ena Lehitsanat Mahiber’ and Omo not feel well in the 14 days leading up to child foundation. This year, the registration Last year, on our 19th year, we got a Even though we had planned to have race day. recognition as the ‘Best International 50,000 participants after consulting with and number of participants has decreased Temperature checks as participants arrive Running Event award’ form runners world. the Ministry of Health and Public Health and the amount will also decrease. Institution we have decide to decrease at the start will be administered. There Lastly, we can say we have built local will be availability of hand sanitizers at Capital: Do you have any other capacity. In 2001, the first race was the number to 12,500. In order fulfill the upcoming plans? Covid protocol, we have prepared face multiple locations around the start and modeled from England, the great north finish; and a requirement for participants run organizers helped in assisting us, but masks for participants, as well as testing Ermias: We are planning to prepare temperatures of participants as we seek to to wear masks in all assembly areas at the an annual event running race which through the years we have built our own start until the point at which they start the capacity, fully run by Ethiopians. create awareness on the matter. considers Covid. It will be a monthly run and after they finish the run will be event for one year at Entoto park which It is difficult preparing such kinds of mandatory. Capital: What were the challenges public gathering event at this time and we is really creative, there will be a limited throughout the last 20 years? are working round the clock to focus on Furthermore, a wave system will be number of participants and will be used for the start which will enable launched two weeks after the great run. Ermias: Great run is the first in Ethiopia of all precautions. its kind, and being the first always presents Capital: What are your precautions challenges. Using sport as a business was regarding Covid? tough, the whole aspect of commercializing sport, getting sponsors, doing consistent Ermias: We have decreased the number athletic races with the public are some of participants; the mass race will of the challenges. And in context of our employ three wave starts setting off with country also timing at times is an issue. In 15-minute intervals. one of our races, two of our participants A number of precautionary measures will had died during the competition which is be in place to guard against the spread of the an unfortunate challenge. However, from COVID-19 virus. Individual registration all of the challenges we have continued to has been done through Telegram Bot. learn from them as we seek to provide a great experience. All participants have to sign a waiver form saying they undertake not to take part in Capital: How are you coping with Covid? the race if they have any underlying health

And how is it affecting your operation? problems that would make them more PHOTO: Anteneh Aklilu www.capitalethiopia.com 18 Advertisement Year 23, No. 1151 Sunday Dec. 27, 2020

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www.capitalethiopia.com 20 Year 23, No. 1151 Sunday Dec. 27, 2020

wtar Multi-Media signs a five-year partnership agreement with BGI Ethiopia. The agreement was signed by Yohannes Bekele CEO of Awtar Multimedia and Gebresilase Sifre Commercial and Public Relation Director of BGI Ethiopia on Thursday December A24, at Sheraton Addis hotel. Awtar is a user-friendly Mobile Application where users can go through a well-organized Ethiopian music archive, easily search and find their favorite Artist, listen to a preview of any song before purchasing, discover details of every Musical Work and enjoy the latest Ethiopian music videos. As the music sales application Awtar enables the users to get music works at a fair price and easily the users are charged in a suitable manner to them and using alternative payment means on the service provision.

Brazilian podcast tells the story of Saint George FC

ernet Bola is a podcast that brings light to chapters of the Italian fascists who invaded the country. football that are little discussed by the big sports media In addition to all the importance for its fans, the episode tells in Brazil, a conversation that goes through culture and the story of three great names in Ethiopian football who even society about the issues that are protagonists. passed through the club: Yidnekatchew Tessema, Mengistu FCreated by journalists Bruno Núñez and Rodrigo Fragoso, who Worku and Luciano Vassalo. are also the narrators of these rare stories for the Brazilian public, Fernet Bola is part of Corner, an important football publication Fernet Bola also travels through Ethiopia's problems, from in Brazil. In addition, Fernet Bola has that name in homage to the first war between Italians and Ethiopians to the conflict Fernet Cola, a drink closely related to football. The podcast has in the Tigray region in 2020, and how these wars can be the hour of "La Barra al 45", where sommelier Leonardo Russo explained using football. brings a drink related to the theme of the episode. It also explains the devotion of Saint George in the country In the 11th episode of Fernet Bola "Saint George: Resistance and why he was chosen to name the most popular football club against fascism in Ethiopia", Fragoso and Núñez go to Africa to in Ethiopia. tell one of the most incredible stories. The protagonist is Saint In "La Barra al 45", sommelier Leonardo Russo interviews an George, or Kidus Georgis, the greatest champion in Ethiopia, expert in Ethiopian coffee, who counts from its emergence to its but who has great importance in the Ethiopian resistance against unique characteristics.

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 21

following the conflict largely financed closer look at this pervasive reality. and directed by the TPLF cabal. The The UNHCR report retorted that “While Ethiopian government, with the support of we welcome the Ethiopian Government's its citizens, has managed to resettle quite a statement that there would be unimpeded significant size of these nationals. humanitarian access, in line with the To be sure, these were mostly Amharas agreement with the UN signed on 29 and Oromos, not Tigrayans. To this day, as November, this needs to be to all areas we speak, Amharas are being slaughtered of Tigray where civilians have been everywhere in the country, especially in the affected by the fighting". It is imperative Oromia and Benshangul-Gumuz regional that the Ethiopian government fully states. And yet, the good Commissioner honors its part of the deal to provide has said, so far as we know, nothing about “unimpeded humanitarian access”. But, it these citizens of Ethiopia. should never permit unsupervised access, The humble question to the good whatsoever. Yes, to unimpeded access, Dispensing Culpability: Commissioner now is that: “Why isn’t but no to unsupervised access. Because, your heart breaking for the Amharas, the the corrupt history of the TPLF cabal that Oromos and many others, who have been manipulated aid organizations in the past- in exactly the same predicament?”. It may and helped it capitalize diplomatically, UNHCR’s Glaring be foolhardy to anticipate any meaningful financially and logistically, as narrated by response, if at all. its former leaders-is such that access must The glaring double standard exhibited by be monitored-very closely. the head of the UNHCR, as evidenced in In Conclusion Double Standard this twisted report and actions in the past, It is remarkable that the UNHCR needs to be denounced by Ethiopians and Commissioner appears more concerned any justice seeking global citizens. By The Queen of Sheba “Fano” forces, the report reprehensively about a certain group of Ethiopians than UNHCR Only Deserves Unhindered, Not the Ethiopian government and its people. charged accusing that: “Based on multiple Unsupervised, Access On Tuesday 22 December 2020, the accounts, the Amhara "Fano" militia We wish that this concern is equally UN High Commissioner for Human has reportedly committed human rights It is to be recalled that the UNHCR staff apportioned to all the people of Ethiopia. Rights Mrs. Michelle Bachelet, once abuses, including killing civilians and has shown utter disregard to the terms But this concern won’t pass the litmus again, muttered: “While we welcome the carrying out looting.” of agreement that it has signed with the taste of honest arbiter as the twisted report Ethiopian Government's statement that Ethiopian government to get access to the and past actions exhibit. While the report calls out “witnesses” who affected areas. No sooner had they received there would be unimpeded humanitarian make allegations against the Ethiopian Commissioner Bachelet and other access, in line with the agreement with the permission than they broke its terms to sympathizers of the TPLF cabal must realize government, it openly resists its statements, which the organization later apologized, UN signed on 29 November, this needs to even when these have been augmented by that TPLF is as good as the late Humpty be to all areas of Tigray where civilians though not without consequences for Dumpty. Let alone a Commissioner of the irrefutable evidence. In one tragic double Ethiopia. have been affected by the fighting.” standard the distorted report stated as such: UNHCR, even the UN Secretary General himself, even if he wanted, cannot save it. This UN report, which cited the “For instance, while the Government of There are some suspicions that the UN Needless to say, TPLF is now irretrievably Commissioner, further stated: “We have Ethiopia has repeatedly alleged that the staff was attempting some nefarious acts dumped in the dust bin of history and no received allegations concerning violations Tigray People's Liberation Front (TPLF) to rescue some cornered cabal forces amount of mis-reporting, partisanship or of international humanitarian law and forces have been involved in violations of when it breached two check points and deceptive dealings will revive it. human rights law, including artillery international law, without access it remains had to be stopped on the third one. Given strikes on populated areas, the deliberate challenging to verify these allegations.” the disproportionate representations of the TPLF cabal in such organizations, this targeting of civilians, extrajudicial killings The blatant double standard of the and widespread looting.” may not be too surprising. It is important The Queen of Sheba may be reached at UNHCR-that questions the statements of that the Ethiopian government pays a [email protected] After effectively apportioning culpability the government but advances the words to both parties in the conflict, the twisted of so called “witnesses” without qualms- report went on blatantly accusing the needs to serve as another testimony to Ethiopian Army by quoting “witnesses” the biased, if not compromised, UNHCR who charged “The Ethiopian army and leadership. The Ethiopian government regional Amhara forces and militia” for must vigorously protest this increasingly “allegedly killing civilians and looting the habitual injustice of double standard. hospital, banks, businesses, supermarkets Shedding croc tears the Commissioner and private houses.” further stated "What has happened in It appears that, given the recent track Tigray over these past seven weeks is as records of the UNHCR, the conflict that heart-breaking as it is appalling. Despite ended up removing the TPLF cabal rather the Ethiopian Government's initial efforts quickly appears to be an unwelcome news. to provide humanitarian aid in some Contrary to the fact that calm has largely areas, it is vital that life-saving assistance returned to Tigray and over 80 percent is delivered to all civilian populations in of public employees have so far returned need [in Tigray] without further delay". to work, the report cites “that fighting is said to be continuing, particularly in What is truly laughable, if not pitiful, is some areas of north, central and southern the “breaking” of the Commissioner’s Tigray”. It is troubling that this flawed heart without the benefits of reports on report has not been corroborated even by the situation in Tigray. And yet, by its own some of the most partisan sources known admission, the report already complained to be sympathetic to the TPLF cabal. “the continuing lack of overall humanitarian access, coupled with an ongoing The twisted UNHCR report continued by communications blackout in many areas”. feigning concern and timidly citing one of How is it that the Commissioner’s heart is “the most shocking incidents reported to breaking on non-existing reports given the date was the alleged mass killing of several admission of communication blackouts? hundred people, mainly Amharans, in Mai It is possible that the Commissioner may Kadra, on 9 November.” As a matter of have been constantly feeding on sources fact, the number of victims of this heinous from compromised entities and cabal crime, already recognized as genocidal by sympathizers. Amnesty International and the Ethiopian Human Rights Commission, has exceeded The good Commissioner of Human Rights over a thousand, most of whom Amharas. conveniently overlooked the threats and firing of rockets on civilian targets in the In her coverup sermon, Bachelet started cities of Gondar and Bahir Dar-oh, yes, sites out by offering a typical UN Statement: "If which happen to be Amhara territories-as civilians were deliberately killed by a party pompously admitted by the TPLF cabal. or parties to the conflict, these killings Yet, this was promptly and unequivocally would amount to war crimes and there denounced by the US Secretary of State needs to be, as I have stressed previously, Mike Pompeo. While the UNHCR stains independent, impartial, thorough and Eritrea in its report, it conveniently omitted transparent investigations to establish the rockets hurled by the cabal on Asmara, accountability and ensure justice." She for which its government was commended then deceptively watered down the My- for its restraints. Kadra Amhara genocide by quipping: "It is essential that there are investigations into So much for the principles of UNHCR, allegations of human rights violations there Commissioner Bachelet. against both Amharans and Tigrayans". Where is Your Heart, Mr Bachelet? In a more tragic blubbering that equated At one point, Ethiopia had to manage over the My-Kadra butchers with non-existing three million internally displaced citizens www.capitalethiopia.com 22 Advertisement Year 23, No. 1151 Sunday Dec. 27, 2020

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 Advertisement 23

INVITATION FOR EXPRESSION OF INTEREST

DESCRIPTION: services, clearly stipulating the preferred areas/origins. Provide full package Custom Clearance and Freight Forwarding b) Renewed Trade registration and Business License. services, from Djibouti port to destinations in Ethiopia. c) Renewed Competency Certificate from Ministry of CLOSING DATE FOR SUBMISSION OF EOIs: Transport Maritime Affairs Authority ; Monday, 11 January 2021, 14:00 hrs. d) Private Limited companies are required to submit the company association or incorporation document, a copy REFERENCE: EOI-ETCO-LOG-2020-05 of the original in local language with a translated copy in The United Nations World Food Programme in Ethiopia English from a recognized translation office. (WFP Ethiopia) invites qualified companies to submit their e) Updated company profile information; including contact Expression of Interest for full package Custom Clearance and details, (e-mail address is mandatory, website, address/ Freight Forwarding services, from Djibouti port to destinations physical location, telephone, fax numbers) and experience in Ethiopia. in the cross-border freight transport operation. A. Overland (Cross Border) road transport services f) Independently Audited Financial Statement, at least 1. Objective two years’ statement, accompanied by a letter of sound This invitation for expression of interest aims to identify accounts transactions from the company’s Bank. qualified and eligible national and International Clearing g) Taxpayer and VAT registration, and Forwarding Agents for the provision of full package h) Recommendation letters from three credible clients and Custom Clearance and Freight Forwarding services, other relevant documents required to operating in cross from Djibouti port to destinations. The shortlisted Border freight transport operation. companies will be invited to participate in a bidding process to provide the abovementioned services. Based Non-provision of the required information may result in on the results of the competitive bidding process, WFP exclusion of the company from further consideration. may conclude a contract with one or more companies 2. Closing date of submission and Contact Details for the provision of the named services. The EOI and any supplementary documentation must 2. Brief summary of services to be provided be submitted in a sealed envelope and deposited at the ¾¾ Provide full package Custom Clearance and Freight designated box at WFP Ethiopia in Addis Ababa at the Forwarding services, from Djibouti port to destinations following address: in Ethiopia. Attention: Logistics Unit – Contracting Section 3. Participants and Eligibility criteria. World Food Programme - P.O. Box 25584 - Kirkos Sub City, This Invitation for Expression of Interest is announced Kebele 17/18, Olompya towards Haile Gebreselassie Road for national and international qualified companies. The (Next to Mentewab building), Addis Ababa, Ethiopia Companies must have their (representative) offices in or sent via email at the following email address: addis. Djibouti and Ethiopia (or willing to open an office upon [email protected] no later than 11 January 2021, award of the contract) and able to render the services in 14:00 hours (local time). country. The cover of the envelope should contain the following 4. Process information – EOI Reference Number, the Date of Submission and the title of the company. WFP seeks to shortlist companies/organizations who will submit the required documentation and financial E-mail applications should clearly state the EOI Reference capabilities, who will be invited to participate in bidding Number in the Subject Line of the e-mail. process. All EOI should be duly signed and stamped. After the deadline, WFP will evaluate all submitted EOIs, All requests for clarifications should be sent to the following and only successful participants will be notified by email email address: [email protected] of the outcome of the evaluation. 3. Further information B. SUBMISSION OF EOI This EOI does not entail any commitment on the part of All documents should be presented in English and presented WFP, either financial or otherwise. WFP reserves the right in an orderly manner as per the guidelines below. to change or cancel the requirements at any time during the 1. Documents to be submitted EOI. WFP also reserves the right to disregard companies from further consideration if the company is not deemed The expression of interest must include the following to conform to the above conditions. Thus, submitting a documentation: reply to this EOI does not automatically guarantee that a) Company’s confirmation in writing of their interest to join company expressing interest will be considered for receipt WFP database or shortlist of companies for the requested of the solicitation if and when issued. www.capitalethiopia.com 24 Advertisement Year 23, No. 1151 Sunday Dec. 27, 2020

REQUEST FOR EXPRESSION OF INTEREST (EOI)

This notice is placed on behalf of UNECA. You are therefore requested to ff Construct new accessible podium furniture as per the design, samples direct all your queries to United Nations Economic Commission for Africa of furniture sections may be required to ensure quality of final product using the e-mail address provided below: ff Procurement and supply of a height adjustable lectern Title of the EOI: Construction Work for Upgrading United ff Replacement of all identified fixtures, fittings and finishes sympathetic Nations Confrence Center (UNCC) Confrence Room 1 (CR1) and to the existing room’s design intent and quality. Conference Room 2 (CR2) Podiums ff Provide a wheelchair compliant platform lift for vertical movement Date of this EOI: 21 December 2020 between conference room floor and podium level. Match any new joinery work to suit existing finishes and detailing. Closing Date for Receipt of EOI: 13 January 2021 ff Provide wall and floor modifications to the back rooms from the podium, EOI Number: EOIUNECA18006 and integrate new work to match with existing E-mail Address: [email protected]; [email protected] ff Electrical summary: Address EOI response by fax for the Attention of: • Rewire the power outlets and audio / visual cabling underneath the Mr.Hezkias Sintayehu / Mr. Ali Assaad podium as well as provide a cable trunking system on the podium for ease of rewiring and change UNSPSC Code: 72000000 • Provide trunking lines only (cabling by others) to all delegate desk positions with connections at floor boxes, and install new DESCRIPTION OF REQUIREMENTS international plug power outlets, with USB in all delegate desks The United Nations Economic Commission for Africa (UNECA) in Addis • Re-use existing: Ababa, Ethiopia seeks a qualified contractor with valid licenses to express • Power & data distribution boards & risers their interest to be engaged for Construction work of upgrading UNited • Audio visual wiring Nations Conference Center (UNCC) Conference Room 1(CR1) and • Voice & data passive infrastructure Conference Room 2(CR2) Podiums. • Provide new: 1.1 Background • Cable management system for power, data and AV • Concealed, floor mounted outlets for power, data and AV The UNCC building was constructed in 1996 to enable the ECA to host major conference assemblies of various sizes. Two main conference halls • Additional power outlets with USB capability with the control (CR1 and CR2) offer a combined space of 2,200 square meters with a total mechanism of the podium desks capacity of nearly 1,300 persons. The podiums within these halls were • New electrical and communications works associated with new not designed to aid persons with disabilities and neither the stage area, platform lift furniture or lecterns can be deemed accessible for persons with disabilities • Integrate a fire detection and alarm system underneath the podium. (PWD), which is now a requirement. • Provide new cable trunking to the conference manager table. Both conference halls require demolition and construction works to ff Construction as per design documentation, using light steel joists with achieve compliance with current accessibility standards. These include SHS steel support posts and steel support beams removing the existing podium areas, and constructing a new stage area with compliant ramps, levels access, stairs and furniture. New joinery and ff New steel mounting frame in CR1 for LED screen mounting (LED screen carpentry are required for both rooms, and the scope calls for an accessible panels dismantling and installation by others), integration of both rooms and demountable delegates table and lectern. A platform lift is proposed screens with rear wall paneling as described in the documentation and to make the podiums PWD accessible. New ground installed conduits all data and power tidied up with cable trays etc. from screen to control and new installed power outlets are required to all of the delegates desks boxes. (cabling by others). ff Construction as described for 200mm Solid block wall around perimeter All new construction will need to be integrated with the existing building of podium fabric and provide accessible paths to the VIP areas at the rear of the room. ff Undertake all required modifications to the existing ductwork and Additionally, a new CR1 LED wall will need to be integrated permanently local diffusers to accommodate the change in levels in the podium by into the rear wall. The CR2 LED wall is already permanently installed and reconfiguring the duct-work. will require small edge finishing and completion works only. It is required that the construction work be undertaken in each of the rooms 1.3 Construction methodology and phasing consecutively, so as to keep one conference room operational at all times. A separate contract is being used for the replacement of carpet in the main Scheduling considerations while preparing the tender: rooms, which will run concurrently with this project. These activities will not ff A Construction methodology should be submitted by the contractor affect the works described here but will require coordination for access, that refers to the planned method of construction, considering all furniture removal, modifications, installations and protection of the works. contractual and legal requirements, construction constraints, risks, and The carpets and furniture will be removed prior to works in each room opportunities. Business continuity of a conference building should be commencing, giving access to the slab area to run conduits to the delegate maintained at all times. desks, and provide access to the delegates furniture to install new power ff The methodology needs to include the temporary and permanent works outlets. All final carpeting works in this project area and the main halls and the services required to complete the construction works. areas will need to be coordinated and integrated seamlessly with each ff A Construction Environmental Management Plan should be prepared other. Staging areas for the storage and handling of delegates furniture to describe to avoid, minimize or mitigate any construction effects on can be made available on discussion with Facilities Management Section the environment and the surrounding spaces when carrying out the (FMS). associated construction activities. It is required that all construction works be delivered on time, ready for use, ff Construction methodology required that describes the careful phasing in preparation for a major conference event in 2022. of the development, coordinating access and programme with other construction works that client is undertaking 1.2 Scope of work ff The contractor should also propose site management proposals. The Summary of the scope of the works: aim of the site setup measures is to minimize risk to the environment and, provide welfare facilities for staff, ensure security of the site and ff Demolish completely all areas described in the documentation, all promote efficient use of resources. Such facilities will include: materials remain property of client and are to be handled, stored or removed only at their instruction • Temporary protective fencing and lighting; ff Construct a new accessible single level podium platform with all ramps, • Site security facilities; stairs and connections as per the documentation • Temporary car parking, offices and welfare facilities;  www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 25

 • Temporary and secure equipment storage areas; • Emergency spill kits; • Dust management facilities including wheel washing; • Material and plant storage areas; and • Material recycling and waste segregation areas. ff The construction/installation of CR1 and CR2 podium modification works shall not be simultaneous, rather one conference room at a RESUME time, due to the required uninterrupted operations of conference services (business continuity). Name: Melat Tadesse ff Site access is constrained in that duration of the construction to be not more than 18 months to be ready for use by event deadline in Q3 2022 Education: Degree in Accounting ff ECA expects the proposed work schedule shall have break down of: and Finance Management • Preparation of samples and inspections • Manufacturing of materials Company name: Mac Cosmetics • Importation (shipping to site) • Installation time required. Title: Founder Companies expressing interest should note that this Request for Expression of Interest (REOI) serves as pre-qualification of the companies Founded in: 2018 that will be invited to participate in the tender process .Intrested firms will be invited to the tender by "Request for Proposal (RFP)" at later stage and the detail requiremnt will be further specfied in the RFP document. What it does: Sells different kinds UNECA reserves the right to change or cancel the requirements at any of beauty and makeup products STARTUP CAPITAL time during the EOI/ or solicitation process. Thus, submitting a reply to 850,000 birr this EOI does not automatically guarantee that your company will be Addis Ababa considered for receipt of the solicitation when issued. The RFP and any HQ: CURRENT CAPITAL subsequent commitment to contract will be issued in accordance with Growing UN rules and regulations. Number of employees: 4 UNECA is precluded from entering into contract with a vendor that is not registered with United Nations Global Market Place(UNGM). Thus, only those vendors who are registered or provisionaly registered or have BIG PICTURE PERSONALS started their registration process in UNGM will be eligible to receive the solicitation document RFP. Reasons for starting the Most interested in meeting: Those interested in responding to this EOI but not currently registered business: Experience President Sahlework Zewde as vendors with UNGM, are encouraged to register before submission date for closing of the EOI in the United Nations Global Market Place My (UNGM). Further details may be obtained by visiting https://www.ungm. Most admired person: org/Vendor/Registration. In order to be eligible for UN Registration, Biggest perk of ownership: older sister please make sure to declare in writing the Prerequisite for Eligibility Hard working criteria itemized from A-F as contained in EOI instruction attached. Stress reducer: Drinking and Those interested vendors who fullfill the above requirements are required chilling with friends to submit the Completed Vendor Response Form plus all required Biggest strength: supplemental documentation through the e-mail address: sintayehuh@ Communication skill Favorite past time: Meeting un.org (copy to [email protected]) on or before the closing date of 13 January 2021. friends SPECIFIC REQUIREMENTS / INFORMATION (IF ANY) Biggest challenging: None By submitting an EOI, the Applicant acknowledges that neither the Favorite book: Bible United Nations nor the Applicant intends to create any contract or other relationship under which the United Nations is legally obliged to conduct To start designing Favorite destination: Brazil the Expression of Interest process for the works in any manner or to Plan: proceed to tender on the basis set out in this Invitation to Expression of Interest or any other basis and that there is in fact no such contract or First career: Hair Dresser Favorite automobile: Ford other relationship in existence. UNECA reserves the right to verify statements by the EOI respondent and not to invite all those companies who had expressed interest. Only Pause the moment eligible firms that are successful at this pre-qualification stage willbe invited to participate in the ensuing tender invitation. Interested vendors should submit a fully completed Vendor Response Form to the above-listed email address . All questions which the vendors should have must be sent through the same email address not later than 10 days before the closing date. The UN reserves the right to reject incomplete Expressions of Interest responses. Vendors interested in participating in the planned solicitation process should complete the Vendor Response Form in UN website of https:// www.un.org/Depts/ptd/sites/www.un.org.Depts.ptd/files/pdf/eoi18006. ALATASH NATIONAL PARK pdffor a pdf of this EOI and fax it or email it to UNECA using the email mentioned in this document before the closing date set forth above. latish is a newly established national park that is located in Quara woreda of The successful bidder will be required to Register in UNGM at Level Northern Gondar Zone. It was established 2 before Contract award. Ain 2006 and derives its name from the Alatish River that has its source in the park and Vendors interested in participating in the planned solicitation flows in a westerly direction to the Sudan. The process should complete the Vendor Response Form ( https://www. park shares its boundaries in the south with un.org/Depts/ptd/sites/www.un.org.Depts.ptd/files/pdf/eoi18006. Benishangul - Gumuz Regional State, in the west pdf) of this EOI and fax it or email it to UNECA before the closing with the Sudan, in the east with Bembaho Kebele, date set forth above. in the northeast with Gelego Kebele and in the north with Mahdid Kebele. Some sections of the area have bedrocks that impede the infiltration of water into the aquifer. These areas provide suitable habitat for seasonal wetlands, which in turn are productive habitats for birds, fish and other wildlife.

www.capitalethiopia.com 26 Year 23, No. 1151 Sunday Dec. 27, 2020

A section designed to promote Africa’s Continental Free Trade Area CFTA.Now using News, messages, events and commentaries. It’s a joint initiative by PRESENTED BY THE PAN AFRICAN CHAMBER OF the Pan African Chamber of Commerce COMMERCE AND INDUSTRY and Industry and capital. We welcome submittals regarding news/information pertinent to the CFTA and relegated issues.

IN THE NEWS AFRICA READYING FOR FREE TRADE COME JANUARY 2021 One day in February 2020, Accra-based AfCFTA is all about.” trade conversations are the challenges that states were to ratify the agreement. coffee and cocoa trader Meron Dagnew She recommends a massive information women traders face. While some 30 countries have so far ratified visited the Secretariat of the new African campaign to raise awareness of AfCFTA Women constitute 70% of Africa’s informal the agreement, more countries are expected Continental Free Trade Area (AfCFTA) among customs services, traders and other cross-border traders, and according to join the bandwagon when free trading to introduce herself, even before the key actors in countries participating in the to a 2019 study by UN Women titled begins and its benefits become tangible. Secretariat was fully operational. free trade area. Opportunities for Women Entrepreneurs Mr. Mene estimates that intra-African “I couldn’t wait,” she told Africa Renewal in the Context of the AfCFTA, African Lack of infrastructure trade could increase from its current 18% in a recent interview “I need free trading women traders often confront corruption, to 50% by 2030. in Africa to begin as quickly as possible; it A lack of adequate modern transport insecurity and sexual harassment. will be so good for my business.” infrastructure also impedes traders’ desire It will boost earnings for traders, strengthen The AfCFTA agreement itself requires Africa’s competitiveness in the global The AfCFTA Secretariat officially opened to reap the full benefits of free trade, countries to protect the vulnerable, including studies show. With the right transport marketplace, foster export diversification in Accra on 17 August 2020, although, women traders, and to address corruption. and enhance value addition to produce because of the COVID-19 pandemic, free infrastructure and high integration, manufacturers of consumer goods could African states with bilateral trade agreements and transform natural resources. trading will now begin on 1st January with foreign countries or other regions such 2021 instead of the originally scheduled earn up to $326 billion per year, according Because of the AfCFTA, Africa’s to McKinsey & Company, a US-based as the European Union will need to walk manufacturing output is expected to date of 1 July 2020. a tightrope in meeting prior commitments management consulting firm. double to $1 trillion, creating 14 million while implementing the AfCFTA. Ms. Dagnew is eager to take advantage of jobs by 2025, writes Landry Signé for reduced tariffs and a consolidated market And according to the World Bank, it takes In February 2020, for instance, East Brookings Institution, a Washington, - potential spinoffs from AfCFTA - to about three and a half weeks for a container of car parts to be cleared by Congolese Africa’s economic giant Kenya began D.C.-based think tank. expand the operations of her company, BE bilateral trade talks with the US, a move customs. While East African countries An industrializing continent will catalyze Kollective that imports Ethiopian coffee seemingly at odds with the country’s Tanzania and Uganda have established a the agricultural sector. In the coming years, to Ghana and exports Ghanaian cocoa to commitment to Africa’s free trade area. Ethiopia. one-stop border post to slash time for cargo Mr. Signé anticipates, manufacturing will movement between them, new delays in Optimistic projections of the benefits of “I am hoping to not pay as much as 35% complement “agricultural production and the form of divergent standards for goods Africa’s free trade are, in theory, based on agro-processing plants, which provide the tariffs on my goods; I am hoping that have quickly emerged, underscoring the orthodox economic calculations - a linear soon I can take my value-added cocoa food and energy to meet growing African mutating nature of non-tariff barriers. demand and supply correlation that may not and global demand.” and coffee to African countries without fully encompass externalities such as the problems of rules of origin. I could then African countries could rake in $20 billion He adds that African youth engaged in availability of countries’ implementation make more profit, expand my business yearly by simply tackling non-tariff barriers computer software and apps development capacity, requisite infrastructure, policy and hire more people,” she says. that slow the movement of goods, according will seize the opportunity to produce to the UN Conference on Trade and coherence and so on. Ethiopia is one of the world’s largest coffee “leapfrog” technologies to meet increasing Development, the UN entity that deals with The World Economic Forum signals that producers and Ghana is the world’s second- domestic demand. In other words, trade investment and development issues. AfCFTA’s full and effective implementation largest cocoa producer, after Côte d’Ivoire. good paying jobs will be created for the is what will lead to its transformative Ms. Dagnew is particularly attracted to The African Union (AU)’s efforts at boosting continent’s bulging youth population. impacts, meaning that its touted benefits West Africa’s market of 380 million people. infrastructure through its Programme “Across all subsectors and countries, Africa’s for Infrastructure Development in Africa are by no means guaranteed. High tariffs and non-tariff barriers such industrial revolution appears imminent,” (PIDA) are expected to yield the Lagos- The Secretary-General of AfCFTA, as customs delays and administrative Mr. Signé declares, optimistically. Abidjan transport corridor, the Zambia- bottlenecks at border posts underscore the Wamkele Mene, acknowledges the Tanzania-Kenya power transmission Meanwhile, African traders envisage the challenges facing African traders and at enormous tasks ahead. “We have to roll line, the Lagos-Algiers highway and the end of the COVID-19 pandemic or at least the same time accentuate a strong desire up our sleeves and work,” he told Africa Brazzaville-Kinshasa bridge, among others. Renewal in an earlier interview. its receding soon. They hope the teething by traders for a free trade zone. problems that arise will be tackled and But experts encourage individual countries The AfCFTA eliminates tariffs on 90% of Yet there is much to celebrate regarding the that AfCFTA will be a shot in the arm for goods produced on the continent, tackles to invest in modern port, airport and rail free trade agreement. The pact consolidates a Africa’s development. line infrastructure. market of 1.2 billion people and a combined non-tariff barriers to trade and guarantees “It will be a dream come true for traders the free movement of persons. GDP of $2.5 trillion. It would represent the Women traders world’s largest trading block by the number like me,” enthuses Ms. Dagnew. Ms. Dagnew’s business slowed down in Widely spoken about in intra-African of participating countries if all AU member (Inter Press Service) March 2020 just as the pandemic began to rage. As African economies start to slowly open while adjusting to the realities of the pandemic, Ms. Dagnew intends to restart trading soon. Bring on AfCFTA, says Malawi Yet, she frets about other structural challenges to intra-African trade, such as The Malawi government says it has put in Rules of origin are laws, regulations regional economic communities and the the competition with big global brands place measures in readiness for the Africa and administrative rulings applied by continent as a whole. that compete on an uneven playing field. Continent Free Trade Area (AfCFTA) as it governments to determine the source For example, BE Kollective, according Minister Gwengwe expressed optimism rolls out on January 1, 2021. of goods, services or investments. The that the facility would provide real time to Ms. Dagnew, competes with Nescafé, determination of origin of a given product which is imported into Ghana by retailers. Trade Minister Sosten Gwengwe told The communication on non-tariff barriers to Southern Times Business that the country is a prerequisite in establishing whether a help improve trade in goods and services. “The problem is that importers of Nescafé product is eligible for preferential tariff was committed to the historic agreement He also said the Malawi government from countries in Europe or Asia pay that creates one of the world’s largest ever regime, otherwise third parties can take would submit its specific schedule of much less tariff than I pay because free trade pacts. advantage and move their products and/ those countries have favourable trade or services and illegitimately benefit from commitment before January 1, 2021. “As a ministry, with the help of the United agreements with African countries,” she tax exemptions. The AfCFTA brings together 55 African Nations Economic Commission for stresses. “Therefore, the odds are currently countries with a combined population of Africa, we have formulated a strategy on The Portal on the Monitoring and stacked against us intra-African traders.” 1,2 billion people and a GDP of more than national implementation of the AfCFTA. Elimination of Non-Tariff Barriers’ US$3,4 trillion. Ms. Dagnew is also concerned that The strategy outlines mitigation measures objective is to progressively eliminate countries’ customs services lack adequate on any possible impacts of the AfCFTA,” existing non-tariff barriers and refrain Minister Gwengwe also dismissed claims information about the AfCFTA. Minister Gwengwe said. from issuing new ones in order to enhance that the trade pact would negatively affect “Not long ago, I went to the customs and facilitate intra-Africa trade. Among the instruments in pace, the minister Malawi’s economy, and pledged that the service in Ghana and told them I wouldn’t said, were those on rules of origin, the The Malawi government says this government would continue engaging need to pay tariffs at some point because Portal on the Monitoring and Elimination mechanism will facilitate state parties’ all stakeholders to ensure a smooth and of AfCFTA. They didn’t understand what of Non-Tariff Barriers, and the Schedule of reporting, monitoring and negotiations beneficial transition to the new regime. I was talking about,” she recalls. “There Specific Commitments and Tariff Offers. on removal of non-tariff barriers across (The Southern Times) are many traders who have no idea what

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 27 CFTAnow PACCI is the lead business organization with members in over 50 countries of the continent representing the interests of businesses and industry associations of every size and sector. PACCI operates as Africa’s voice of business, advocating for pro-business policies that create jobs, growth and prosperity.

REVIEW OF THE AFCFTA Find the latest review on the African Continental Free Trade Agreement (AfCFTA) by the Executive Director, Mr. Kebour Ghenna, of the Pan African Chamber of Commerce and Industry (PACCI) on the challenges of trading under the AfCFTA. AfCFTA - The Challenges of Implementation and Enforcement he African Continental Free Trade Agreement B. Corruption among Law Enforcement Agents F. Ignorance on the Part of Operators (AfCFTA) is expected to serve as a building block to the attainment of economic growth Extortions, intimidation and harassment carried out Many importers/ exporters will be ignorant of the rules and development in Africa. This is to be done by the police, gendarmerie, customs and immigration unless they are simplified to guarantee their appreciable Tby ‘fitting together’ existing regional trade agreements officers on duties at the various borders can contribute level of understanding. Obviously, some traders negatively to the implementation of the AfCFTA. into one AfCFTA. There are about 30 bilateral and operating under the AfCFTA may fail to submit complete Such corrupt practices among these law enforcement multilateral trade agreements within the continents documentation, a situation that normally leads to delay agencies have sometimes provided excuses for some so that each African country is a member of at least at the border points. The poor understanding among unscrupulous traders who may engage in smuggling of one regional trade agreement. Trade between African regional farmers/traders regarding the movements of goods under the pretext of AfCFTA goods. countries, however, barely exceeds 10% of the total agro produce as well as animals across member states trade of Africa, which is much lower than other C. Poor Trade Infrastructure may also constitute a significant challenge. Ignorance on this issue may not be limited to the private sector but continents' intra-regional trade share. Whether this is The pathetic nature and complete absence of trade going to change or not with the AfCFTA, remains to be also found on the part of the public sector practitioners infrastructure especially at the regional level (e.g. who may not be well familiar of the contents of the seen, below are some of the problems that need to be regional rail) provide a platform for failure of the trade rules nor the interpretation of the AfCFTA procedure. addressed to advancing the AfCFTA: scheme. For instance, it’s possible to witness goods Other challenges such as currency conversion, high cost leaving under the AfCFTA to travel to EU countries A. The Non-Tariff Barriers of transportation and communications infrastructure, before returning to the targeted African countries language barriers and other logistics problems such as Several non-tariff barriers may be lining up to stand on because of lack of functional local shipping lines. improper or inadequate packaging of goods, etc. may the way of the AfCFTA, and these generally include: D. Reliance on Manual Processes also constitute delays or obstacles in the implementation of the ETLS. i. The non-recognition of quality certificates issued Some of the official operators at the borders across the by national structures, sometimes owing to non- continent still rely on manual processes to conduct the Evidently, trade liberalization will, in the long run, harmonization of sanitary, phyto-sanitary and business of government such as the calculation of taxes/ continue to play a significant role in determining technical standards at the continental level. duties payable by the business sector. There is need a country's trade relations in the global world. The ii. The non-acceptance of approvals issued by the to expedite the computerization process as a way of advantages of the free trade in integration schemes are authorized national chambers of commerce or other speeding up transactions under the AfCFTA. well documented. They are first and foremost, a measure national entities of Member States. of the degree of integration among member states. The E. Tariff Barriers AfCFTA can play a very significant role in reform and iii. The prohibition on the importation of some goods Some of the tariff barriers that may affect the AfCFTA further liberalization of trade policies, but for this to work despite being on the list and originating from the as impediment include: levying of illegal taxes at the all hands (governments, private sector, customs personnel domestic/continental economy. borders and on the roads (such as transit fee, parking and other law enforcement agents) must be on deck for iv. The road harassment and malpractices. fee, conveyance tax, municipality taxes, etc.) credible solutions to facilitate the success of the initiative.

TRADE FACILITATION On the other hand, AFCFTA aims at unity among Africans. reaching integration of the African He noted that “Africa is blessed to have a African youth urged countries in bid to ensure collective high percentage of young people, and the benefits. The agreement’s implementation destiny of Africa is in their hands. For us is slated for January 1, 2021, after being to achieve all set targets, we should focus postponed due to the Covid-19 pandemic. on the things that unite us rather than to take lead in According to Louis-Antoine Muhire, the our differences, and deliberately put our Made in Rwanda Project Manager at the abilities to work, because the targets won’t Ministry of Trade and Industry, youth’s be achieved by the will only.” implementation of AfCFTA role in the implementation of continental Meanwhile, Karima Rhanem the North policies should start at the grass-root level. Africa coordinator for the Innovation for frican youth have been called stakeholders in the implementation of “Championing change does not begin Change Hub Africa reiterated that youth upon to own and take lead Agenda 2063 and AfCFTA’. from getting top sits in the government, it should make all necessary steps and go role in the implementation of Agenda 2063 was initiated by African begins at the community level by making to the communities to ensure that they the African Continental Free contributions wherever necessary,” he benefit from set policies, a step she said ATrade Area (AfCFTA) and Agenda 2063. leaders, with the intention of refocusing and reprioritise Africa’s agenda from said. would make youths be part of solutions The call was made at the inaugural the struggle against apartheid and the that Africa needs. webinar dubbed Africa Expects Youth “Experience is something that young attainment of political independence Series, an initiative that seeks to give an people have to value, not simply having Almost 60 percent of Africa’s population for the continent to achieving inclusive opportunity to African youths to discuss academic degrees. Take risks and in 2019 was under the age of 25, making several issues affecting the continent social and economic development. consistently try new things. Let your Africa the world’s youngest continent. with a solution-oriented perspective. The Agenda also seeks to achieve actions give you the opportunity to According to the UN’s demographic serve,” he added. projections, the median age in Africa Spearheaded by the Pan-Africa Movement continental and regional integration, is going to be 19.8 in 2020, which (PAM) Rwanda Chapter, the webinar democratic governance and peace and Raymond Okpani a Nigerian pan- brought together pan-African youth security amongst other issues aimed Africanist also reiterated that the role of stresses the need for their role in Africa’s from Rwanda, Morocco, Ghana, Nigeria at repositioning Africa to becoming a youth in the implementation of AfCFTA development. and South Africa to discuss ‘youth as dominant player in the global arena. and Agenda 2063 include striving for (The New Times)

www.capitalethiopia.com 28 Advertisement Year 23, No. 1151 Sunday Dec. 27, 2020

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 29

ETHIOPIA’S LIDYA makes African Nations Championship History

thiopian Lidya Tafesse will be the first African African Cup tournament. Soccer fans who engage in female referee to officiate a senior men's match Betway Zambia betting can predict whether Lydia will at the continental level (CHAN). She is the only officiate a particular Ethiopian game. woman in the continent of 19 center referees who Lidya has enforced the Laws of the Game in the Africa Ewill enforce the Laws of the Game in the 2020 African Cup of Nations for four consecutive years. She was the Nations Championship in Cameroon. Lidya officiated the referee in the semi-final match between South Africa and FIFA Women's World Cup and the Africa Women Cup of Nigeria. Also, the Ethiopian Football Federation voted Nations in the past. Lidya as the best referee for three years in the women's Lidya will be leading assistant referees Mimisen Iyorhe of and men's Premier League. Nigeria, Bernadhar Kwimbria of Malawi and Atezambong Lidya is committed to her career. She likes promoting Fomop Carine of Cameroon to the scheduled CHAn 2020. fairness in football games. Like other African sports According to reports, the referees will be in Younde from legends, Lidya started from the bottom before she became 9th to 10th January 2021 for fitness tests and refresher an international referee. She has faced many challenges in courses. This is the first time a team of female referees her career. The Ethiopian referee is a role model for many including eight from Ethiopia that features in the senior’s girls. FIFA gave her some costly sports equipment for men’s CAF tournament. free but she gave them to underprivileged senior referees. Lidya who dreamt of being an Ethiopian Premier League Betway allows African sports enthusiasts to wager on local referee, had achieved way past that fate officiating the and foreign leagues. Age test (MRI) Uganda won Cecafa u-17 common trait crown, Ethiopia third between Nigeria & Ethiopia n embarrassing age-related moment for Nigerian football, 40 out of the 60 boys penciled down as part of the Golden Eaglets contingent to prosecute the Under-17 African Cup of Nations (AFCON) qualifiers in Benin Republic Afailed the mandatory Magnetic Resonance Imaging (MRI) age test. Coming just three weeks to the qualifiers, this means the coaching crew will have to race against the clock to pick a squad qualified enough to represent the country at the West African Football Union (WAFU) Group B qualifiers billed to kick-off on Tuesday, January 5. Out of the 20 players who passed the tests, only five of them are ecafa U-17 defending champions Nations in Morocco in 2021. Despite losing the part of the main squad and just two of the five are included in Coach Uganda crushed first timer Tanzania final, Tanzania has also qualified for the biennial Fatai Amoo’s preferred starting lineup for the competition. Most of to 3-1 victory while, Ethiopia defeated competition. the players the coach banked on did not scale through. (Compare Djibouti 5-2 to finish third in the annual with Ethiopia only five out of thirty-five). Surprisingly, among those In the meantime Enderias Berhanu’s Ethiopian Ccompetition. Champion Uganda and runner up side finished third after 5-2 victory over Djibouti. affected were players from the National U16 team, some of whom Tanzania book a place in the continent’s cup final were featured at an invitational tournament in Japan last year. As a A 3-0 defeat to Uganda followed by a 2-2 draw with The champions scored their goals through Ivan consequence, they will vacate the team’s hotel in Abuja and head Kenya, after a regular time 1-1 draw then 4-3 penalty Irinimbazi, Travis Mutyaba, and Ibrahim Juma home with dashed hopes and dreams. These age-cheating incidents shootout defeat to Tanzania, Ethiopia finished in while Vincent Mulema scored into his net for the are worsened by the desperation of parents and agents to get their style crushing Djibouti to 5-2 victory. Considering Serengeti Boys' goal. youngsters into the national team at this level of the game. Djibouti’s resilience against ultimate champions The Cubs scored their first goal in the 63rd Uganda, the big win is something to celebrate for To prevent further embarrassments that might warrant the minute from Irinimbabazi’s header followed by the side that returned home with bronze medal. disqualification of the entire team by CAF, the Nigeria Football the second ten minutes later through MMutyaba. Federation (NFF) has pegged Grades 1- 4 as the benchmark for the Not only the trophy but all the tournament’s The Serengeti Boys then conceded a penalty in age test to ensure registered players stop being disqualified. individual honors went to Uganda. Six goals in four stoppage time from which skipper Ibrahim Juma matches including a hat trick over Kenya, Oscar Nigeria’s Golden Eaglets, just like their Under-20 Flying Eagles converted for the third. Mawa stood top scorer of the tournament while counterparts, are drawn in Group B of the U17 qualifiers along with The Cubs have now managed to retain title Travis Mutayaba and Henry Mwabe named Most rivals Ghana and Cote d’Ivoire. and they will be playing in the Africa Cup of Valuable Player and Best Goalie of the tourney. www.capitalethiopia.com 30 Year 23, No. 1151 Sunday Dec. 27, 2020

BEST OF INTERNATIONAL No. MOVIE TITLE DOMESTIC GROSS RATE GROSS 1. Monster Hunter $2,666,575 $7,466,575 5.1 2. The Croods: A New Age $28,268,525 $86,136,525 7.0 3. Fatale $1,217,861 $1,217,861 5.3 4. Elf $1,863,568 $2,038,841 7.0 5. Half Brothers $1,921,225 $1,921,225 5.3 6. The Polar Express $631,000 $634,012 6.6 7. Freaky $8,596,690 $14,725,690 6.4 8. The War with Grandpa $18,298,998 $30,269,692 5.5 9. National Lampoon’s $780,000 $798,500 7.6 Sudoku 10. How the Grinch Stole Christmas $390,180 $18,425,283 6.2 The game is easy, the rules are simple. All you have to do is make sure you fill every Source: GQ Online Stream 3x3 box every row and every column, without repetition, using the number 1-9. MONSTER HUNTER aul W.S. Anderson is the rare director who seems to make good movies out of video games, with Mortal Kombat, the Resident Evil series, and now Monster Hunter on his résumé. Each of Pthese adaptations is quite different (and some are better than others), but if there’s one thing that seems to unite the pictures, and Anderson’s work in general, it has to be his attention to the environments in which the action takes place; he’s the most architectural of genre filmmakers. His first feature, the controversial indie British drama Shopping, introduced the world to Jude Law as a nihilistic young hood who got his kicks crashing cars into shopping malls. In the two films that followed, Mortal Kombat and Event Horizon, location became even more critical — particularly in the latter, a horror-sci-fi masterpiece about a spaceship that had gone quite literally to hell and back, in which the ship, a cross between space station and medieval torture chamber, was arguably the central character.

Monster Hunter Fatale It’s a Wonderful... The Forgotten... The Climb Director: Paul W.S. Anderson Director: Deon Taylor Director: Frank Capra Director: Christy Summerhays Director: Michael Angelo Writers: Paul W.S. Anderson Writers: David Loughery Writers: Frances Goodrich Writers: Michael McLean Writers: Michael Angelo Genre: Action Adventure Genre: Thriller Genre: Drama Family Genre: Musical Genre: Comedy Drama

Running Time: 1hr 39min Running Time: 1hr 42min Running Time: 2hr 10min Running Time: 2hr 10min Running Time: 1hr 38min

www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 31

CROSSWORD PUZZLE ACROSS 36 Sighing comment DOWN 33 Mideast capital 40 With 42 Across, 35 Mom-and-pop orgs. 1 Complains constantly Sinatra tune 1 Project Apollo implementer 37 Equine identier 5 Play charades 42 See 40 Across 2 Stratford's water 38 Poet Van Duyn 9 Mediterranean 44 Be abundant republic 45 Bear up above 3 James Bond lm of '95 39 New Age singer 14 Admit 47 Very foolish 4 Hard work, so to speak 41 Engine booster 15 Egyptian goddess 48 Atmospheric prefix 5 City northwest of Venezia 43 ''Family Ties'' mom 50 Kids' car game 6 ''By Jove!'' 16 Best-possible 46 Pretty tall 17 One and only 52 Flight regulating 7 Labor leader? agcy. 49 Whirling waters 18 Little fellas 8 German city 53 Violin part 51 French novelist 19 Runway worker 9 Brunch order 57 Say if you'll be there 53 Secret supply 10 Commotion 20 Jackie Gleason 59 Explosive stuff catchphrase 11 Brought about 54 Perfectly timed 60 Sensible 23 Schedule slot abbr. 12 Exercise regimen 55 Unconditional 64 Intermission 24 Prince Harry's prep follower 13 Literary middle name 56 Nocturnal newborn school 66 Stead 21 Not as favorable 58 Think much of 25 Enraptured 67 Gaelic ''Bill'' 22 Brooks of music 61 ''Bill and __ Excellent 27 Bar bottle 68 Upholstery fabric 26 Hula Hoop Adventure'' 29 Mouth part 69 Purposes manufacturer 62 ''Later!'' 31 Encouraging word 70 Biblical preposition 27 Something bestowed 63 Managed care grps. 32 Innovations' 71 Some sandwiches 28 Frivolous 65 Oath afrmation originations 72 Evaluation method 30 What ''natural'' natural 34 Branch of govt. 73 Some fiight data gas lacks Solution: see below

WEEKLY HOROSCOPES

Aries Cancer Libra Capricorn The focus is on power suits, long-term This can be a lucky time. Co-workers will You may be white-knuckling through You will soon take charge of your work life plans, and big corporate structures. Trust cooperate and you might even enjoy a this time. Power struggles at work could or a department within your organization. your intuition now. You could be unusually moody, work-related flirtation, but soon it will be be hard to ignore. You might find that people with a Be prepared to make a move. Avoid feeling paranoid. however. Those working in restaurants, housing, time to get back to work. If you have the choice to sit practical focus are immune to your charms. Expect You may think you aren't doing a good job when your or service to families will enjoy the easiest energy or be active, choose activity. This is a powerful time to the energy to ease somewhat soon. You may be boss thinks you are. Aspects make it easier for you to flow. People appreciate you saying what you think take the lead, especially if you feel shy. Do your best to especially busy with work that requires good customer take the lead in any area you choose. Practical plans and in a calm and direct manner. Be prepared for some finish what's already started with an eye to what might service. Be careful that everyone is making the same good management strategies will make your life easier. unexpected breakdowns or the need to review what be missing. Think back to a quote or a lesson of some assumptions. Be ready to do something extra. This Cycles in your life that seem to have been moving you thought was finished. sort that you heard from someone close to you. will work in your favor later. backward are finally moving forward again.

Taurus Leo Scorpio Aquarius Be sensitive to the moods of others. Dress your best and try to see the bright You're more comfortable than most people Stick to the familiar and expected now. Someone you see daily could be having a side. People may be more stressed than in the middle of power plays. Events The energy could be intense and see problem but not talking about it. Dress for usual and forget that you need a big dose could make you privy to some major you standing on the sidelines of a work- success. This is a powerful time to present yourself to of appreciation to start the day right. Things lighten up confrontations. You're likely to be part of the winning related power struggle. This isn't the time to take customers or superiors and win their support. Try not to soon. It's lucky for partnerships and writing contracts. side. This period is going to be especially busy. There's sides. Things lighten up soon and you will feel more take on any extra work. This is the time to review what's You may want to break with tradition and do something the possibility you will butt heads with co-workers who upbeat. You can be a source of fun and inspiration for already started. Tolerate any slowdown or need to redo original with a favorite co-worker. You can be especially have different ideas about how to do things. Be open others. These are ideal days for any work that allows things, especially paperwork. Finish whatever task has popular by encouraging a spirit of fun. If you truly want to innovative ideas. This time is good for projects that you to share your expertise. Interacting with others been plaguing you for quite some time now. your dreams to materialize, you need to work for them. blend business and community service. will bring opportunities.

Gemini Virgo Sagittarius Pisces You may be white-knuckling through This is a powerful period for you. It's You could be feeling especially touchy If you've felt like a ping-pong ball lately, this time. Power struggles at work an especially lucky time for a new start. or discouraged now. Be patient. Avoid expect things to begin to stabilize now. could be hard to ignore. You might find Network as much as possible in order making big deals out of small matters. This is a lucky time to start a new project that people with a practical focus are immune to your to improve your career prospects. Events demand Expect the energy to improve as the days progress. or interview for a new or improved position. Be willing charms. Expect the energy to ease somewhat soon. You honesty and close attention to detail. A more social You should feel more optimistic soon. The energy to do your bit for the team. Cooperative projects will may be especially busy with work that requires good energy becomes active now. This is a good time is ideal for sales and developing good relationships be the most fun and can be quite productive. Your customer service. Be careful that everyone is making for presentations and team meetings. You will find among co-workers. Your mood is likely to improve sensitivity to others' moods comes in handy. People will the same assumptions. Be ready to do something extra. it easy to collaborate with people who need your soon. It will be easier to talk to people and feel they appreciate your sympathy. The structure of your daily This will work in your favor later. support and organizing skills. appreciate what you tell them. work routine may come under fire today. Crossword Solution

www.capitalethiopia.com 32 Year 23, No. 1151 Sunday Dec. 27, 2020 The hard

BREXITAlazar Kebede future cooperation. It should be evident scheduled for May 2021 could strengthen As Denis MacShane, the former UK's that this option is particularly dangerous the hand of the SNP, a second referendum Minister for Europe noted, it seems odd, in the current instable geopolitical is unlikely ahead of the 2024 UK general to say the least, that the UK could be The agreement reached under maximum climate which should, on the contrary, election. about to undermine its commitments to pressure by the EU and the United Kingdom underscore the mutual benefits of a Tom Clifford, an Irish journalist based in Ireland with upcoming legislation after (UK) during the night of December 7th European continent speaking with a Beijing stressed that in view of news that the UK had taken steps in recent months 2017 is full of ambiguity and hypocrisy. single voice in order to provide joint the UK´s prime minister Boris Johnson to prepare Northern Ireland’s border for The main, though not insignificant, merit security and prosperity to its citizens. plans unilateral shifts that upend the exit day. It suggests the UK is trying to is to avoid the premature interruption Regarding the hard Brexit, Nicola Withdrawal Agreement with the EU, one increase the pressure to get a deal more to of the Brexit negotiations, as well as Sturgeon, the SNP (Scottish National has to wonder whether this is a Trump- its liking rather than going for a hard exit. to offer the main protagonists peaceful Party) leader, has promised to publish style negotiating strategy on the part of Either way, the strategy does not raise the year end celebrations. According to Paul draft legislation for a second independence the UK government. The idea to up the chance of a good outcome. With the costs Goldschmidt, the former Director, EU referendum before the upcoming election ante seems to be based in the hope that of a hard exit falling disproportionately Commission and Member of the Advisory to the Scottish Parliament on May 6, 2021. the EU will blink as the clock ticks down on the UK, the strategy could harm the Board of Stand Up for Europe outlined, Nicola Sturgeon hopes that Brexit, which or a conscious approach by the UK to UK more than the much bigger EU. For indeed, on the basis of this agreement, it goes against the will of the 62.0% majority undermine the ongoing negotiations on the UK and the EU to find compromises appears that the UK must choose between in Scotland that voted to remain part of the future relationship (and settle for on the sticking points, level playing field, one among the following four options: the EU in June 2016, will reverse the the hardest possible exit from the EU governance and fisheries, both sides must The first one is negotiating the withdrawal result of the 2014 Scottish Independence single market) instead of reaching for a work to build trust. The UK’s actions are of its notification under Art. 50 and retain referendum. At the time, a 55.3% majority compromise is unclear. doing the opposite. full membership of the Union. The voted to stay in the UK. delivery of the withdrawal notice dated Kallum Pickering, Senior Economist at March 29, 2017 initiated an irreversible Berenberg Bank in London stated that SANDFORD INTRNATIONAL SCHOOL process of two years leading inexorably following a major shift in the polls that to the departure of the UK from the EU. started shortly after Boris Johnson and the INVITATION FOR EXPRESSION OF INTERSET FOR This process can, however, be modulated Conservatives won the landslide victory under the terms of two agreements at the UK election on December 12, EXTERNAL AUDIT SERVICE Re-Advertisement covering respectively the “divorce” 2019, the most recent five opinion polls Sandford International School is pleased to invite qualified & registered Audit and the “future relationship” between give support for Scottish independence the parties; both need the unanimous firms recognized by the Accounting and Auditing Board of Ethiopia (AABE) a seven point lead, with average support to submit their expression of interest for auditing the books and accounts of approval of the Council and a majority running around 49%. On that basis, one vote of the European Parliament. the institution by sending Technical proposal and other relevant documents cannot rule out that Scotland could leave only for auditing the books account of the school for three consecutive years the UK in the coming years, even though The second one is leave the EU but retain starting from fiscal year ending Sene 30,2013 (July 7,2021). membership of the Custom’s Union such pro-independence polls seem to and the Single Market. This option is in have a habit of narrowing in the run-up to Requirement contradiction with previous undertakings referendum day. ¾ of Theresa May. While it is in line with ¾The audit firm should be registered with the office of the Federal Auditor However, actually getting there is General and classified under “Grade A” the commitments of the “divorce” hard for two reasons. First, not only agreement, it implies the subordination are around 8% of Scottish voters still ¾¾The audit firm must have solid audit experience in auditing the books and of the UK to the rules of the EU (rule undecided. More significantly, with no accounts of large size organizations taker), the inability to negotiate separate guarantee that the second independence ¾¾The audit firm should provide TIN, VAT and Business Registration that have trade deals with third parties, etc. Such vote could end in a majority vote for all been renewed for the year 2013 E.C as well as a renewed license from restrictions should be welcomed by leaving the UK, the SNP may well ride Federal Office of the Audit General & other legal documents. Ulster, Scotland and Wales because the the wave of pro-independence sentiment ¾¾The audit firm should provide a complete company profile and the list of reversion of other EU powers would to boost its support ahead of the Scottish staff who will be assigned to perform the audit mainly benefit the British Government election. Kallum Pickering noted that and Westminster. this would likely imply that the SNP Expected Deliverables The third option is negotiate a Free would stop short of pushing hard for a Trade Agreement (CETA model). This second independence vote once in power Audit report for all accounts, associated notes and management letters option implies instituting border controls at the national level, unless referendum Application Procedures either at all external borders of the UK polls shifted even further in their favor or between Ulster and the remainder of on a sustained basis. The SNP also has Interested audit firms who fulfill the above requirements need to drop their the UK. It is not possible to guarantee to think hard about what it wishes for. expression of interest in a sealed envelope along with relevant documents simultaneously the territorial integrity After all, a second failed attempt to go by clearly indicating their company and staff profile in the designated box in of the UK market including Ulster and for Scottish independence would put the school finance office by 4:00 PM on December 31st 2020. The school the indivisibility of the market on the the question to bed for a generation and will review the technical expressions of interest submitted and will shortlist Irish island. Regardless, any FTA cannot partly undermine the case for voting for four finalists. The four finalist firms will be contacted to submit their financial confer on the UK the same privileges the SNP in the future. proposals. Firms who have already submitted expression of interest in as those enjoyed by members of the Second, Scotland still needs the approval response to the first advertisement are not required to re-submit at this time. Customs Union and of the Single market. of UK parliament to hold a second For any additional information or clarification and to assess the volume of According to Paul Goldschmidt, the referendum, unless a future devolution work, please contact our finance unit by email or by telephone addresses fourth option is leaving the EU without of powers to national governments indicated below. any agreement (WTO model). Leaving from the UK parliament in Westminster the EU without an agreement covering allowed national parliaments to pass the future relationship would be such legislation. Such legislation seems Sandford International School detrimental to both parties and carries unlikely as long as the Conservatives are Shewareged Gedle Street P.O.Box 30056MA with it the risk of judicial procedures in power. While a landslide victory at the Telephone: 0111 24 21 85 Email: [email protected] which would jeopardize any harmonious upcoming Scottish Parliament election www.capitalethiopia.comwww.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 Advertisement 33

www.capitalethiopia.com 34 Opinion Year 23, No. 1151 Sunday Dec. 27, 2020 Operations to restore law and order in Ethiopia’s Tigray Region: How did we get here?

By Abiy Ahmed matter. Regrettably, all my persistent Government under my leadership could Now that the active phase of military efforts to avoid conflict by all means have done anything else to resolve the operations is over, our next task is to launch hen I took office as Prime were taken for weakness. existential crisis my old and proud the process of healing from the aftereffects Minister of Ethiopia in April In the end, however, the choice was not nation faced on that fateful night of 03 of this traumatic conflict, to ensure our 2018, I had only one driving November and its aftermath. citizens in the affected areas, including mission for my premiership to be mine. While I was preaching peace and prosperity for my country and people, As I write this article, the Ethiopian army those who have been forced to cross the W– to put my country and people on a path borders to the Sudan, have unfettered and working day and night to realize it, a has completed its mission according to to lasting peace and prosperity. I vowed access to humanitarian assistance and violent attack was launched against my plan and captured the regional capital of to myself, my family and my people, in other support necessary to rehabilitate Government and people. On the night of Mekelle without the large-scale civilian private and in public, that I would never them back to normal life at the earliest 03 November 2020, the TPLF leadership casualties and war crimes that so many in resort to force as a way of resolving opportunity. Also critical is the need to launched, under cover of darkness, the international community confidently internal political differences. I believe that restore the transport and communications what they later described, on public predicted. Yet, despite the success of no problem is worthy of any bloodshed, links destroyed by the conflict. that all problems can be resolved amicably television, as a “lightening pre-emptive these operations, I’m not celebrating; I if we have the courage of our convictions attack” against the Northern Command cannot be. While I admire the courage Having witnessed afresh the courage and to sit around a table, in good faith, in of the Ethiopian National Defence Force and sacrifice of our men and women in determination of the Ethiopian people to search of mutually acceptable solutions. (ENDF), which had been stationed in the uniforms, I know the conflict has caused protect their country from its enemies, I I further declared that the only enemy I Region since the outbreak of war with unimaginable suffering. This is a conflict am confident that Ethiopia will rise back to would mobilize my people and resources Eritrea over two decades ago. Using in which Ethiopians had to kill their fellow its traditional role as the anchor of stability to wage war against was poverty. traitors recruited from within the army Ethiopians, target and destroy their own for the entire subregion and beyond. along ethnic lines, not only did the TPLF defence infrastructure and weaken their However, my vision and determination At the same time, the peace and security leadership cause the massacre of unarmed own defence capability. At the same time, came under severe strain right from the we have restored at so much cost remain soldiers in their pyjamas in the dead of I also know that the Federal Government start of my premiership. It did not take fragile. That is why we are determined to night, they also took possession, illegally, was forced to engage in this operation long for the Tigray People’s Liberation ensure our next elections, scheduled to of the entire military arsenal of the for existential reasons – the future of Front (TPLF) leadership to launch take place in mid-2021, are fair, free, and Northern Command. I was thus left with a Ethiopia as a sovereign nation and the inclusive, and that the people of Tigray, a campaign, covertly and overtly, to decision only of how, not whether, to fight undermine my administration and make peaceful co-existence of its people was like all other Ethiopians, shall soon be to defend the integrity of my country and at stake. The heavy cost we incurred as a led by a regional government of their free our people and the rest of the world restore the constitutional order. believe that, without them at the helm, nation was necessary. own choice. Ethiopia would be ungovernable. To make More than the attack, what shocked me their case, the TPLF leadership had to and my fellow Ethiopians to the core was produce the evidence of ungovernability the level of cruelty the TPLF leadership themselves, organizing a clandestine displayed in the conduct of their criminal nationwide campaign of criminality operations. After they surprised and In gilded Saudi royal . . . and violence: sponsoring, financing, overpowered several regiments of the ENDF forces, the TPLF identified and and training disaffected individuals to Continued from page 2 instigate communal clashes and attacks separated hundreds of unarmed Ethiopian on members of ethnic minorities in soldiers of non-Tigrayan origin, tied their hands and feet together, massacred them malls and superhighways. few Western-style regulatory mechanisms different parts of the country. Attacks in place, very little is made public about sponsored and orchestrated by the TPLF in cold blood, and left their bodies lying The problem, detractors say, is that the in open air. Never would I have imagined crown prince and his particular branch of the scale and nature of holdings of the royal leadership left more than two million family and the myriad ways in which the people internally displaced and thousands it humanly possible for any person to kill the family tree are part of the kingdom’s patronage system, which makes his startling royals’ wealth overlaps with the state budget. dead in the past two and half years. their fellow soldiers while asleep and record themselves singing and dancing move against his royal brethren even more It’s not even clear precisely how many I was fully aware that the TPLF on the bodies of their victims. of a high-wire act. royals there are. Joseph A. Kechichian, leadership orchestrated the mayhem, Critics call it a campaign of selective a scholar at the King Faisal Center for bordering on party-sponsored terrorism, Following their surprise attack on their Research and Islamic Studies, estimates own unsuspecting fellow Ethiopians, it prosecution waged by an indulged young diverting budgetary resources allocated royal - widely known by his initials, MBS the descendants of founding monarch King didn’t take long for the TPLF leadership by the Federal Government to pay for - who reportedly made an on-the-spot Abdulaziz al Saud at about 20,000 men and their criminal enterprise and destabilize to start celebrating and gloating in public purchase of a $500-million yacht while women, with an influential core of about the nation. But, despite overwhelming about their prowess and invincibility in vacationing on the Riviera in 2015, and is 200 members. pressure from the public for the war and how they have now transformed tied to business entities that stand to benefit “No one knows what the collective wealth Government to stop them by all means themselves, overnight, into the largest immensely from the removal of some of is,” Kechichian, who has authored a book necessary, including through the use of fighting force in the entire Horn of Africa. those arrested. about the clan, wrote in an email from force, I made it clear, repeatedly, that my With the benefit of hindsight, the surprise Prominent whistle-blower Ali Adubisi, a Riyadh, “but probably in the hundreds of Government would never resort to force attack by the TPLF forces had three Saudi in self-exile who heads the Berlin- billions.” to resolve the matter. I shared this firm interrelated objectives. First, by attacking based European-Saudi Organization for Also known for its opacity is the state-run and clear position to the TPLF leaders the Northern Command, which accounted Human Rights, called the crown prince’s Public Investment Fund, whose holdings directly, in person and on the phone, and for the bulk of Ethiopia’s most experienced campaign a “black comedy.” are thought to total about $200 billion and reassured the Ethiopian people, including combat forces, they aimed to weaken the “This move is more a matter of organizing could balloon with the Aramco offering our citizens in the Tigray Region, through capability of the ENDF to safeguard the corruption,” he said, “so that it is in the and other measures envisaged by the mainstream and social media. sovereignty and territorial integrity of the hands of MBS and his coterie.” crown prince. In the last two years, the fund’s oversight was transferred from the When the TPLF leadership rejected my country. Second, by using ethnic Tigrayans As Saudi investments tighten the once- members of the ENDF to carry out the insular kingdom’s ties to the outside Saudi finance committee to a council under personal invitations to engage with my Crown Prince Mohammed’s control. administration in constructive dialogue attack on their comrades-in-arms from world, head-spinning sums of money are on the future of our nation, I encouraged other ethnic groups, they aimed to divide in play. And those are likely to increase In occasional bursts of candor over the years, some prominent Saudis have the country’s most senior religious and and destroy whatever was left of the ENDF exponentially with next year’s expected acknowledged the staggering scale of the community leaders to travel to Mekelle, as a cohesive national defence force. Third, public offering of shares in Saudi Aramco, the oil behemoth, and moves to privatize royal family’s financial entanglements, the capital of the Tigray Region, and once the ENDF was so fractured, defeated other state assets under an economic but described them as underpinning the help federal and regional political leaders and destroyed, and the country almost certainly descended into anarchy, the TPLF blueprint known as Vision 2030. country’s emergence as not only a regional resolve the differences peacefully. power, but also a player on the world stage. Regrettably, these most revered community would present themselves as the only force President Trump has openly wooed the In a memorable 2001 interview with PBS’ and religious leaders were rebuffed by that could put the country back together, Saudis, tweeting just before the wave of “Frontline,” Prince Bandar bin Sultan, the TPLF leadership, treating them with thus removing and replacing the federal weekend arrests that he hoped the Aramco offering would be made on the New York who served for years as the Saudi envoy utmost contempt and sending them back government by force. Stock Exchange. And just as openly, the to Washington, said three decades of with nothing. My primary duty as prime minister and president has taken sides in the crown development had involved an expenditure Even then, I did not give up; I would commander in chief is to protect the prince’s crackdown, declaring on Twitter of about $400 billion, perhaps an eighth of not. As I’ve said before, my own life has nation and its people from internal and that some of those targeted had been which had found its way into illicit channels. external enemies. That is why the Federal taught me that war is “the epitome of hell “‘milking’ their country for years.” “If you tell me … that we misused, or got for all involved”. I did not come to office Government launched and successfully The State Department has been more corrupted, with $50 billion, I’ll tell you to take my people to hell; on the contrary, executed defensive operations to restore circumspect, with spokeswoman Heather ‘yes,’” he said. “But I’ll take that anytime. I came to office with a commitment law and order in the Tigray Region, Nauert expressing support for the anti- There are so many countries in the Third to lead my people towards peace and regrettably making the use of force the corruption effort but calling on Saudi World that have oil that are still 30 years prosperity. Since I came to office just only tool left in our arsenal. officials to carry it out in a “fair and behind.” over 30 months ago, I reiterated, time I recognize that, in the end, everyone transparent manner.” “We did not invent corruption,” the veteran and again, that nothing would distract is entitled to their opinions. Only True reform would have to go much further ambassador added. “This has happened since me away from my firm position on this history will judge whether the Federal than these arrests, many analysts say. With Adam and Eve…. This is human nature.” www.capitalethiopia.com Year 23, No. 1151 Sunday Dec. 27, 2020 35 C l a s s i f i e d

EXCHANGE RATE 12-25-2020

CURRENCY BUYING SELLING CHINESE YUAN 5.4014 5.509428 KUWAITI DINAR 121.7655 124.20081 SOUTH AFRICAN R 2.659 2.71218 SDR 56.1512 57.274224 SAUDI RIYAL 9.4023 9.590346 AUSTRALIAN DOLL 26.8038 27.339876 UAE DIRHAM 9.6045 9.79659 EURO 47.5393 48.490086 CANADIAN DOLLAR 27.4804 28.030008 JAPANESE YEN 0.3403 0.347106 KENYAN SHILLING 0.3583 0.365466 DANISH KRONER 5.7836 5.899272 NORWIGIAN KRONE 4.0907 4.172514 DJIBOUTI FRANC 0.2166 0.220932 INDIAN RUPEE 0.53 0.5406 US DOLLAR 38.9858 39.765516 POUND STERLING 50.6087 51.620874 SWIDISH KRONER 4.2665 4.35183 SWISS FRANC 41.899 42.73698

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