Baby-Sitter” Decade Program Zemen’S Financial by Muluken Yewondwossen Debut Report by Metasebia Teshome Assistance Only If It Feels That It Failed to Investigate

THE PAPER THAT PROMOTES FREE ENTERPRISE Year 23, No. 1149 Sunday December 13, 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 Government ATA attaches Top flight performance the livestock Africa Insurance is back on track with 16 folds of proclaims it does not earnings per share growth sector to its new and lower claim settlement in the  2019/20 financial year 3 need a “baby-sitter” decade program Zemen’s financial By Muluken Yewondwossen debut report By Metasebia Teshome assistance only if it feels that it failed to investigate. Zemen Insurance has earned Agricultural Transformation Agency (ATA) 18 million birr profit as it It has been well over a month since the law “Ethiopia is led by a government which has launched the next ten year program that opened its doors in enforcement operation started in the Tigray knows how to govern a nation. Ethiopia includes the livestock sector and regions, which doesn’t need a baby sitter,” said Redwan. the last month of the  region after the 4th of November 2020 attack were not part of the ended program, and ensure 2019/20 financial year 5 and now the government has announced Redwan confirmed that Ethiopia’s security all farmers to be commercialized by 2030. it has completed its military offence after forces shot to the air and detained United Transformation of Ethiopia’s agriculture sector Amhara Insurance taking the town of Mekele from the so called Nations staffers as they tried to reach parts criminal group of Tigray People’s Liberation to one where farmers and pastoralists have Initiated by the success of of the embattled Tigray region that they were Front /TPLF/. market oriented production and productivity Amhara Bank, the organizers not supposed to go. and sustainable natural resource development of the bank have Although the government announced that "They broke two checkpoints to drive hastily and utilization would be the next ten year signaled to establish  the TPLF group had attacked the North to areas where they were not supposed to strategy that ATA will engage with its partners, Amara Insurance 7 National Defense, Sekoture Getachew, a go, that they were told not to go," Ethiopian says Yifru Tadesse, Senior Director at ATA said. veteran TPLF politician, publicly justified government spokesman Redwan Hussein Tele blackout the November 4th military attack against He added that the livestock sector will be a core said in a press conference. sector besides the crop sector and five excluded explained the Northern Command of the Ethiopian National Defense Force (ENDF) as an “They were told in some areas they were regions in the first ten year; Afar, Benshangul Ethio-telecom announced anticipatory self-defense and amongst it all not supposed to move. And when they were Gumuz, Gambella, Harari, and Somali will be that all telecom lines to the the international community still continues left alone they broke two checkpoints, and also included on this coming ten year program. Mekelle core site in to force the Ethiopian government to accept when they were about to break the third According to Yifru, over the next 10 years, Tigray have been  independent investigation. one, soliders shot to the air and detained severed ATA has the ability to roll out up to 11 strategic 7 them. Now, of course they are free," Redwan programs in total. On Tuesday December 8, Redwan Hussein, explained. Ready for second wave spokesperson of the state of emergency told For this budget year ATA’s focus will be on four reporters that Ethiopia will invite others for  Page 5 strategic programs, that is; systemic interventions, Africa is better equipped to deal with a potential crop agricultural commercialization Cluster second wave of (ACC), livestock ACC, and scale up regions COVID-19  ACC. Under the plan until 2025 systemic 10 interventions, livestock ACC, and scale up The ballooning inflation regions ACC, horticulture in urban and peri- INTERVIEW urban areas, horticulture expansion in the ACC Dissecting the exponential inflation rates over the years regions, and livestock and crop in food insecure areas will be included on the strategic program, By Muluken Yewondwossen controversial election and the violence that while until the end of 2030 that is the next five follows it. “The latter is important as it year starting from 2026 up to 2030, 11 strategic programs are expected to be included. After the 2005 election, the government was contributed to the change in the modality quick to set a growth path that was driven of growth financing which we believe is Khalid Bomba, CEO of ATA, told Capital that ‘partly targeting to politically impress the resulted in the macroeconomic imbalances details of the coming ten year strategy will be public.’ This path is stated as one of the major witnessed,” the study reads. fully finalized in this budget year. reason for spiral inflationary trends of the “It was followed by the behavior of high Mandefro Nigussie, State Minister for country until now. inflation, significant parallel market premium Agricultural Development at Ministry of The government would later be in a dilemma of the currency, shortage of foreign exchange, Agriculture (MoA), recalls that previously ATA to choose either economic growth or significant trade balance and fiscal deficits had come up with high quality outcomes that neutralize inflation. A new study has revealed and huge debt that characterized the Ethiopian needed appropriate capacity in terms of human US-Africa relations its recommendation for the government to macro economy today,” states the study that capital and others at MoA to implement it with focus on food investments at the cost of the was carried out by Alemayehu Geda, Professor similar standard, while it was a gap at MoA. He Harry Broadman managing at Addis Ababa University and Kibrom Tafere, director at Berkeley Research other sectors to curb the food inflation. said that in this current implementation period Professor at Cornell University under the title MoA and ATA have jointly taken part in the Group talks about The latest study conducted by two senior of ‘The Challenge of Inflation and Financing the future of US-  economists stated that in Ethiopia, inflation Africa relations 16 was not generally an issue before the 2005  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. 1149 Sunday Dec. 13, 2020

Our Dear readers: The editorial team will be on Sabbatical for the coming few weeks. In the meantime, we will reprint our previous editorials along with accompanying commentaries. CAPITAL is a weekly business With best regard, newspaper published and distributed every Sunday by CROWN THINK, ORGANIZE & TRANSFORM PUBLISHING PLC. CAPITAL is a registered In a world dominated by adroit selfishness and deft manipulations of relations, social or otherwise, gullibility can be fatal. Unfortunately, we newspaper with the Federal Africans don’t seem to grasp the imposed cruel reality that continues Democratic Republic of Ethiopia to play havoc in our collective lives. Flag independence didn’t bring Ministry of Trade license number much, as a more nuanced scheme that goes by the name neocolonialism, 14/673/21142/2004. soon usurped collective thoughts and actions. Thanks to the numbing t Managing Editor educational systems adopted in the early days of our independence (by our Teguest Yilma gullible leadership), our innate criticality was made to systemically vanish By Ben Hunt [email protected] from serious discourse, giving way to the highly celebrated zombification COMMENT of learned idiocy. All in all, our increasingly valueless societies have t Editor-in-chief become clueless about all and sundry. Herein lies the grave danger to our Groum Abate very survival! Forget about [email protected] THINK. Critical thinking is one of the essentials of life. To be without Addis Ababa, Yeka sub-city, it, particularly in the complex societies of out time, is to beg for chaos Wereda: 06 H. No. 514, and destruction. Undermining this important facet of life (by almost all Industrially 011 618 3253/011 661 0976 African countries) has allowed useless/unsustainable schemes to take t Deputy Editor-in-chief over our existence, collective or otherwise. To be able to deconstruct Muluken Yewondwossen the modern world system that is built on our continual impoverishment [email protected] and chaos requires high caliber efforts. Internalizing the principles of the Necessary Schooling, prevailing world order without being able to analyze its consequences will t Reporters not take us far. To start with, the reigning global system is based on the t Metasebia Teshome irrational and brutal domination of both man and nature! The results of we homeschool our [email protected] callous exploitation of life and life support systems are now clearly upon t Senior Graphics Designer us and collective humanity is becoming acutely aware of this destruction. t Daniel Amare Hence, blindly following the dominant system is a non-starter. Not children surprisingly, our learned zombies, or what we affectionately call our ‘Ivy danielamare@capitalethiopia. com Idiots’ and our ‘belly thinkers’ do not have what it takes to bring about don’t talk about this very much in public, because most people transformative changes to our miserable situation. Neocolonial modernity, assume that homeschoolers are either religious zealots or Graphics Designer be it of the neoliberalism type or otherwise, is a dead end. Flogging a antisocial freaks, and we’re definitely not the former. Maybe t Abrham Wuletaw dead horse only results in the unsightly broadcasting of carcass and a bit antisocial, but I wouldn’t call it “freakish” per se. We just [email protected] nothing more, so to speak. Africa must resort to its organic intellectuals, Idon’t like seeing neighbors’ houses. Or neighbors. People, really t Photographer supported by its impoverished sheeple (human mass) to bring about … okay, maybe a little freakish after all. But that’s not why we t Anteneh Aklilu genuine emancipation, per force! Here we are talking about an overall homeschool. emancipation. An emancipation that is in a symbiotic relationship with [email protected] nature, hence, necessarily spiritual! We homeschool because we want to be more active participants in our children’s education. That’s not a knock on our local public t Cartoonist ORGANIZE. People oriented organizations must be the new agents schools, which are as good as they come. That’s not a knock on Roman Tadesse of societal transformations. Oligarchs worshipping at the pillar of private schools in the area, many of which are world-renowned. [email protected] accumulation cannot and will not bring fundamental changes, however We homeschool because most of the practices and structures of t Sales Manager much our compromised states preach about the ‘superhuman virtues’ these the modern school, public or private, exist for the benefit of the vultures. There is a whole lot to be learned from the experience of late & institution, not the child. There’s nothing evil or bad about this, Frehiwot Hailu early 21th century ‘Oligarch Russia’. Organizations to transform society it’s just inherent in the logistics and organization required for [email protected] from what it is to what it ought to be must rely, first and foremost, on any effective institution responsible for hundreds or thousands of the emancipated sheeple and not on inhuman capital. The working stiff, t Columnists people. But it’s not just logistics. It’s not just the bus schedule. It’s t Alazar K. not only traditional labor, but also the enlightened component of the also the curriculum. It’s also the homework and the testing. It’s also massive peasantry, entrepreneurs (social, etc.), activist intellectuals and [email protected] the social structures and social behaviors that are embedded in the the likes should play leading roles. Africa’s once leading parties/entities modern school. t Ton Haverkort that were vanguards of the liberation struggle are going the way of the [email protected] Dodo, literally speaking! From MPLA to ZANU/ZAPU, etc. these once Modern education is a perfect example of the Industrially Necessary progressive entities have failed to understand and cope with the aspiration Egg - spotlessly clean and cool to the touch, not because that makes CROWN PUBLISHING is a private of their sheeple, within the dynamically changing world. Their obsession for a better tasting egg, but because the protein factories that supply limited company registered to deeply get incorporated in the prevailing polarizing globalization has mass society with mass quantities of eggs require chemical washes with the Federal Democratic resulted in alienating their human base. These rudderless parties of old, and refrigeration to turn a profit. That’s fine. I get it. We live in a Republic of Ethiopia Broadcasting big world where lots of people want eggs, and the protein factories with increasingly phony pretensions, have become only subservient to the Authority under registration no. satisfy that desire pretty effectively. global parasitic system and its criminally inclined oligarchs. It is time for 34/2001 and with Addis Ababa change in the way the African people are organized! But what’s not fine is that we have all been nudged into believing City Administration Trade and Africans need to set up genuine movements that are aware of Africa’s that the Industrially Necessary Egg is the Best Egg, that a fresh Industry Development office predicaments in the existing world system. The ‘make believe’ world of egg, which isn’t scrubbed clean and never sees a refrigerator, is an under registration number Inferior Egg. We have all been nudged into believing that of course our learned idiots is passé. Blindly following the prescriptions of global 14/673/21142/2004. dominant interests will only lead, at best, to impotency. After all, why 13-year olds should be grouped with other 13-year olds during most should the African natives remain completely subjected to the whims of waking hours, that of course there should be a clear delineation Address: Addis Ababa, Bole Sub monopoly capital and its stealing oligarchs in cahoots with degenerate between home life and school life, that of course the school day City, Wereda 1, House no. New should mirror the adult work day, that of course classroom lectures politicos at the service of polarizing globalization? We encourage the Mob: +251 - 944 73 23 00 committed and kosher old guards, if they still have some energy left in are the most effective pedagogy, that of course children can only be them, to split from the visibly degenerated polity of their institutions and socialized by letting them roam free in a big flock from one semi- +251 - 911 22 69 00 join the putative insurrections that are now in the offing. The youth must shepherded environment to another. Tel: +251-11 618 32 53 start its own independent analysis of what is brewing, with a view to I don’t begrudge the practices and structures of modern schools. +251-11 661 0976 channel its energy to the urgently needed transformation! Necessary is as Necessary does. +251-11 662 6958 Fax: +251-11 618 52 06 TRANSFORM. Transformation, continental or otherwise, needs the above I don’t begrudge the taxes that I pay to support these schools. Don’t two as preconditions, i.e., thinking and organizing. Without having these tell anyone, but I’d pay even more to support public education and E.mail: [email protected] two prerequisites in place, Africa will only move from one blind alley to public safety. [email protected] another. Economic depravation cannot be mitigated by mere obedience What I begrudge is the question that I always get when I tell Website: www.capitalethiopia.com to the reigning diktat, reinforced by current neoliberalism. Capital someone that we homeschool our kids: “Don’t you worry about investment, promoted by state-led principals of emerging states or by Syscom Plc. is exclusive their socialization?” corporate-owned states of the old core countries, will not be sustainable if advertising agency for CAPITAL devoid of equity and empowerment! Moreover, climate change and other My response: “Don’t you?” Newspaper natural pestilences (to say nothing about man-made ones to come) that will My god, hospital admissions for suicidal teenagers have doubled Tel. +251-11 618 3253 be more pronounced in the years to come, promising a journey of misery over the past 10 years. Tell me you don’t know a family touched by +251-11 662 6958 and unmitigated poverty, require new paradigms of societal arrangements. this tragedy. Tell me you don’t see how our children are sexualized E.mail: [email protected] The coming African liberation will require a determined approach that has and objectified at a younger and younger age, not by predators [email protected] yet to come to the fore, even in countries like Ethiopia, where the tradition lurking outside some gender-neutral bathroom, but by themselves, of fighting injustice was once an honorable undertaking! adrift in the vast oceans of social media. Tell me you don’t see [email protected] Here is a statement from an old revolutionary priest, one of the founding how drug and alcohol use by our children is changing in form, CAPITAL is printed by Berhanena fathers of ‘liberation theology’ and a close friend of ours/Africa who where instead of getting high to party they get wasted to obliterate Selam Printing Enterprise since passed away recently: “Never before has mankind so many material means themselves. December 1998. and scientific knowledge, and never before so many humans have suffered None of this is the fault of the Industrially Necessary School. But Address: Addis Ababa, Arada Sub- from hunger and misery. The sources and causes of misery are not found city Wereda 9 H.No. 984 in material or production problems, but in social relations, an aspect that Continued on page 33 Tel. 011 155 3233 must be analyzed with rigor.” François Houtart (1925-2017). Good Day!

www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 Local News 3 Ministry of Agriculture to purchase 5 helicopters to fight locust swarm

By Metasebia Teshome

The year has been quite turbulent for the agricultural sector mainly because of the locust swarm. To this end, as one of the means of fighting desert locusts, the government has prepared to procure substantial and 5 helicopters through a loan financed by the World Bank. widespread The Ministry of Agriculture had been inquiring for finance from government breeding continues so as to combat this locust menace and 10 million dollar of guaranteed loan in eastern Ethiopia finance from the World Bank has been availed to that effect. The helicopters are and central expected to be purchased from Germany and Israel. This will be a boost to the 5 Somalia planes that Ethiopia has; of which two are surveillance planes whilst the remainder are chemical spraying planes. Somali region in Ethiopia, roughly about In the fight against the swarm, recently, 225 km by 375 km, between the Shabelle the Israeli government had offered a River and the border of northern Somalia. helping hand to the Ethiopian government Elsewhere in Ethiopia, a mature swarm with the provision of 27 drons and was reported in the southern Rift Valley equipment as well as offering training to between Teltele and the Kenya border, combat the desert locusts. Following the which is likely to be an earlier swarm request by Prime Minister Abiy Ahmed, coming from the north. An immature Israel’s Minister of Foreign Affairs, Gabi swarm appeared in northern Afar coming Ashkenazi instructed to deploy an ad-hoc from adjacent areas in Eritrea. Intense task force of locust fighters and experts ground and aerial control operations to Ethiopia in order to join forces with have continued in Somalia and Ethiopia. their Ethiopian counterparts and control Nevertheless, now that immature swarms the spread of the swarms in the country. are forming in central Somalia and This collaborative assistance has been of eastern Ethiopia, they are expected to be great benefit to the country. moving south towards southern Somalia According to FAO, substantial and and southeast Ethiopia where they could start arriving in northeast Kenya this widespread breeding continues in eastern and even shows significant reduction, weekend. This movement is anticipated Ethiopia and central Somalia. In the which is 17 percent. past week, there have been increased to increase during the remainder of In the 2018/19 financial year the company reports of immature swarms in both December and into January. had been paid over half a billion birr and countries, which is to be expected as Intensive survey and control operations stood at 509 million, but in the 2019/20 later instar hopper bands fledge and form should be maintained in Ethiopia and financial year the amount has decreased new swarms. It is likely that most of Somalia with extreme vigilance and to 423 million birr in the general class of The claim the hopper bands have now fledged and preparedness required in Kenya. It is to business. formed swarms in central Somalia while this effect that the Ministry of Agriculture numerous hopper bands of all stages are is keen to purchase 5 helicopters to aid in At the same time for the long term insurance settlement still present in a large part of the eastern the fight against the swarm. class of business, the company paid close to 11 million birr for claim, which was close to 16 million birr a year ago. has dropped According to the annual report, paid claims for motor, fire, engineering, liability, Africa Insurance pecuniary and workmen’s decreased by by 17 percent 95.5 million birr in total, while accident and health, marine, political violence and weather index paid claims increased by 9.7 million birr. In the year, the general and administrative expense stood at 129 million birr. ensures top flight During the financial year, a gross written premium income of 574 million birr was The paid up capital of Africa that opened registered from both general and long two more branches in Addis Ababa and term businesses, while the lion share that Jigjiga in the reported year to stretch its was 553 million birr was aligned with the branches to 34 has reached 180.3 million performance general class of business. birr from 165.3 million birr a year ago. Meanwhile, the general class of business Its total asset has reached 1.4 billion birr, premium collection has shown increment. while the liability stood over a billion birr. Its growth pattern has stood at three percent The company, which has two huge EPS increases 16 fold or close to a 17 million birr increment buildings around Bisrate Gabriel and compared with the preceding year. Despite Bole net fixed and intangible assets, has able to climb its earnings per share to 254 the premium growth rate looking very surpassed 315 million birr. By Muluken Yewondwossen dormant in the 2019/20 financial year, the birr from 16 birr of the 2018/19 financial For the year, the company has secured 58 company has been able to achieve better million birr profit before tax, while the Africa Insurance Company is back on year. The earnings per share growth stood growth rate compared with the 2018/19 profit for the year after tax has climbed track with 16 folds of earnings per share at close to 16 fold or 1,600 percent. growth rate that was 2.6 percent. to 45.7 million birr from a 2.8 million growth and lower claim settlement in the In the reported year, the claim settlement From investment income, the company birr loss of the 2018/19 financial year. 2019/20 financial year. has dropped by 17 percent or 86 million secured close to 111 million birr that This is a boost for the insurer which had The insurance company that is one of the birr compared with the preceding year includes 34 million birr of interest the worst period in terms of loss for the oldest private insurers since the market performance which is unusual in the income generated from deposit held in 2018/19 year since the insurer is known reopened early 1990s has disclosed that in insurance industry. banks, and 16 million birr and 52 million as one of the top three most profitable the past financial year it has achieved higher The decrement of claim payment is not birr from investment in shares and rentals private insurers in the country. performance in most of its operations. common for the sector in the country; respectively. Similar to earning per share boost, the profit The annual report of Africa Insurance in contrary, claim settlement is growing The company expense in the year has after tax of the company has also climbed Company, which was established in every year, while the performance of climbed by over 12 million birr or 10 by 16.3 fold or 1,632 percent compared 1994, disclosed that the firm has been Africa for the stated year was different percent compared with the preceding year. with the preceding year performance.

www.capitalethiopia.com 4 Advertisement Year 23, No. 1149 Sunday Dec. 13, 2020

www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 Local News 5 Zemen Insurance’s financial debut report

By Muluken Yewondwossen “The achievement for the year was From the investment income the major to increase the company capital to 150 mainly attributed from investment return share, interest on time deposit was close million birr in the current financial year. and service fee from share subscription, to 19 million birr that is followed by Zemen Insurance, the new comer in the Shumetie Zerihun, founding CEO of bringing the earnings per share on interest on saving account income that insuring industry, has earned 18 million Zemen Insurance, told Capital that weighted average capital at 20 percent,” was one million birr. birr profit as it opened its doors in the last the general assembly has accepted the the report explained. month of the 2019/20 financial year. The report indicated that the insurers’ proposal to up the share by close to 35.4 “This is almost a preoperational profit, total assets has climbed to 122 million million birr. The insurer, which commenced operational an encouraging result that is the highest birr on June 30 from 111 million birr of activity on June 5, 2020, stated that in the “After the reported period the paid up in the history of Ethiopian insurance January of the same year that depicted by 25 days until June 30, the last month of capital of the company has reached 114.6 industry,” the company first report added. almost 10 percent growth, while the paid the financial year, insured over 24 million million birr. In order to make the capital The company profit was mainly secured up capital and equity reached 99 million 150 million birr, the board chair has birr worth of values with the collection of birr and 117 million birr respectively. gross written premium of 161,840 birr. from investment income that it secured proposed the stated additional amount from interest. The report indicated that in At the project period, which was around to be floated for shareholders to buy in The premium was written for the motor the period that shall be stated as the first January, the paid up capital was 94 the current financial year,” Shumetie and marine sector with 138 thousand and operational year the investment income million birr which boosted to almost 99 explained. 23 thousand respectively. and other operating income of Zemen million birr on June 30. Zemen, which is so far the new comer The annual report of Zemen Insurance Insurance was 20.2 and 5.7 million birr On the general assembly that held was on in the insurance industry, has about 937 indicated that in the stated less than one respectively. Saturday, the board chair has proposed shareholders. month period the claim incurred was less than one thousand birr. the government was very much conscious In the stated period, the company that about its people. Any life that dies during got the green light from National Bank Government proclaims . . . the operation is a lose to Ethiopia, but of Ethiopia, the financial supervision we are not hiding anybody killed by the body, mid-January 2020 and commenced Continued from page 1 government defense but because there operation early June has consumed over Ethiopia’s government is making it government, would call the shots.” was none there is no one to be accountable eight million birr as expense for the clear it intends to manage the flow of other than Ethiopians. It doesn’t matter if “Humanitarian assistance must be reported period. humanitarian aid, but the U.N. has openly they were killed by government force or escorted by defense forces,” he said. Melaku Ezezew, Chairperson of Zemen sought unfettered and neutral access TIgray forces all are Ethiopians, we are Insurance, on his address said that even according to international principles. “The government will give allowance on not fighting with a foreign enemy it was a family feud,”Redwan stated vividly. though the company has planned to start The U.N. announced deal with the where to go and where not to go. There its operation earlier, it started late due to Ethiopian government, saying it was are some forces who have not surrendered. Regarding the humanitarian assistance, the effect of COVID 19 and instabilities signed on November 29. Crucially, the deal They may not have some regular leadership Mitiku Kassa, Commissioner of the around the country. allows aid only in areas under Ethiopian and command and supply of resources but National Risk and Disaster Management, said the commission is working to address According to the report from the total government control. The government on they can still keep on shooting until they run humanitarian assistance to 1.8 million Tuesday said 44 truckloads of food aid had out of their arms. Thus, we are saying our expense, the establishment cost was 5.1 people in the region. However with the fear been delivered to Shire, the main town near humanitarian assistance has to be escorted million birr and took the lion share. of the number increasing, the commission the refugee camps. with the military,” emphasized Redwan. Meanwhile the company operated for is working to do rapid assessment to less than a month in the 2019/20 financial On Tuesday, Redwan repeated that “Just because we completed the operation capture additional number of beneficiaries, year and wrote only 162 thousand birr message and added, “No entity, in three weeks it doesn’t mean we are in since between 22-30 percent of the urban premium, it has earned 18.3 million birr multilateral or unilateral, is supposed a picnic it was a very tough assignment population may need relief assistance for the profit after tax. to supplant the government. We, the it was completed successfully because short period of time.

www.capitalethiopia.com 6 Local News Year 23, No. 1149 Sunday Dec. 13, 2020

points, whereas for chemical fertilizer rose agriculture potential both in crops and ATA attaches the livestock . . . by 23 percent. livestock. “ATA was found to increase the likelihood Khalid said that the success of the ATA is not Continued from page 1 of agrochemicals use by close to 15 a sole responsibility of the agency; rather, strategic design. “We have planned our ten projects executed, studies conducted, and percent, which could be a reflection of it has been a combination of collective year strategy jointly from design stage that other impactful activities implemented to rising demand for herbicides in lieu of efforts and contributions regaining from will help to scaling up with similar level,” drive agricultural transformation, growth, crop rotation as smallholders tend to rely the government, MoA, agriculture bureaus, Mandefro told Capital. and poverty reduction. on less diverse production portfolios,” the the community of partners excluding from evaluation added. “Since we designed jointly we shall catch- According to the Chief Economist, the development partners and others. up the expertise, and capacity building in support provided by ATA was characterized Regarding the economic aspect the Chief Regarding regional performance evaluation, gaps will also be undertaken,” he added. by a problem-solving approach, swift action, Economist uploaded that overall, the total he amplified that different performances in the inclusion of gender-sensitive approaches, 2012–2019 spending considered in the different sectors have been achieved, which The 10 years evaluation and enhanced coordination of stakeholders, economy-wide analysis of ATA impacts is the uniqueness of Ethiopia that of sectors was USD 138.9 million, with 13.4 percent In the first decade of its program ATA had covering an extensive amount of land and specialized in different regions. spent (USD 18.6 million) on support focused on the crop sector transformation in farmers through scaled-up investments. functions and overheads. “For instance if you see the achievement selected weredas of four regions, Amhara, Overall findings from the micro analysis of Amhara region it is aligned with teff, “In every year of the period 2013-2019, Oromia, SNNP and Tigray. According to of FAO recognized that ATA has achieved wheat was good in Oromia, for fruit tree the level of GDP was on average 0.30 independent evaluation that was conducted many of the outcomes it is being measured in SNNP and Oromia and sesame was very percent (or USD 243 million) higher due by Food and Agriculture Organization of against , that is – input use, extension good in Tigray. This helps one region to to the productivity effect that is triggered the United Nation (FAO) and presented by services, and agricultural technology, get lessons from another region in this Maximo Torero-Cullen, Chief Economist by the spending associated with the ATA effective removal of bottlenecks in the circumstance,” Khalid explained. and Assistant Director General of FAO, rural agricultural economy that have interventions in the priority areas and crops who attended the evaluation and launching improved the linkages between producers, covered by the FAO’s evaluation,” he added. Khalid said that the independent study of of the new program on webinar, it is clear input markets and agricultural services, “As a whole, the ATA has contributed FAO will boost the trust of financers and that the past ten year performance of ATA and improvements in priority areas USD 1.7 billion to the GDP of the 2013- international partners to provide more has concluded on promising and well are reflected in productivity gains by 2019 periods. Also, ATA’s interventions support for the coming ten year program. accepted results in related with different smallholders for certain priority crops and have increased private consumption by a ATA was established on the mission to aspect of transforming of productivity. in market orientation positions. total of USD 1.3 billion during the same catalyze sustainable development of The independent evaluation covered It added that the likelihood of organic period,” Torero-Cullen said. agriculture value chains and markets, the corporate impacts of the agency’s fertilizer use by households producing Oumer Hussein, Minister of MoA, said through promoting effective practices and activities in the country in terms of priority crops rose by 18 percentage that despite the promising changes we have approaches to address systemic constraints noticed, the sector is riddled with various and coordinating execution and integration problems that challenge the smallholder of high impact interventions at the farmer The ballooning . . . farmers of Ethiopia and addressing such level. ATA has conducted several studies challenges and commercializing the sector beside directly implemented about 47 Continued from page 1 could lead Ethiopia to further exploit its agricultural projects. Development in Ethiopia: A Kaleckian imported goods are also found to have Approach with Empirical Result’. effect on the level of inflation in Ethiopia. The study recalls that before 2005, the “We are also able to come up with specific government exercised prudent fiscal and elasticity values of inflation with respect monetary policies which were institutional to each of these determinates that could legacies from previous regimes, while it inform policy aimed at abating the double- argued that the macroeconomic instability digit inflation that is disproportionally occurred when the government became hurting the poor and fixed-income earners reluctant to continue the strict trend. in the country,” the study said. “These macro challenges began to emerge The nature of financing development since following the government’s move towards the 2005 failed election seems one of the laxer monetary and fiscal policy and major reasons behind the high inflation significant state activism informed by its and related macroeconomic instability in version of a developmental state,” the study the country today. explained. The study reminded that following The study explains that the government’s this failed election and the government decision to pump huge amounts of money violence on civilians, donors protested by borrowing from the National Bank of by reducing aid as well as changing its Ethiopia to fill the budget gap as well as mode of delivery from ‘budget support’ to foreign loan has played a major role to the ‘provision of basic services’ directly. skyrocketing inflation that was not higher than five percent for decades. “Confronting with the latter, and yet wanting to register rapid economic growth partly to The study further recalls that, the official politically impress the public (especially headline inflation for the first quarter in the disfranchised urban areas), the of 2008 stood at 60 percent with food government has resorted to high investment inflation being about 80 percent. and a significant monetization of the deficit. It is said that this has declined over the years, This is complemented by significant but not significantly, and the latest (April borrowing from China,” it argued. 2020) data shows a general inflation level of The study recognized the economic growth 23 percent and a food inflation of 26 percent. in the past over a decade but said that, the This is a huge macroeconomic shock financing of this growth is problematic and given the price history of the country was the major factor behind the inflation where inflation for the last five decades and severe macro imbalances witnessed in before the early 2000, was below 5 percent the country later. per annum. What is more alarming is that “Despite the double-digit growth noted, the poor are the major victims of this inflation became a double-digit figure inflationary phenomenon as they spend too. This positive co-movement between significant part of their income on food the two is puzzling that led many even and other basic goods. to suspect the credibility of the official In this study an attempt to identify the growth data,” it explained. forces behind the inflationary challenge in The study argued that the inflation severely Ethiopia was looked into keenly. affects the poor since it mainly spiked the The study was done using the Kaleckian price food than non food products because approach to inflation and financing of un-increased food supply in the economic development in developing countries as an development that the government claimed overarching theoretical framework. The double digits for over a decade. study found weak domestic food supply, “Food expenditures constitute the lion’s a rising money supply and exchange rate share of household expenditures in Ethiopia. depreciation (devaluation) to be the three In 2006, for example, its share in total major factors behind inflation in Ethiopia. expenditures was 57 percent. This did not The effect of these major determinants is change much today, being about 54 percent also found to have different potency in in 2019,” it says, “Thus, the effect of a rise the short and long run, as well as across in food price on general price level and the three versions of the inflation models social welfare is significant. Generally, food estimated. In addition, imports of food inflation increased faster than the general items, economic growth and price of inflation during the period under analysis.”

www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 Local News 7 The cause of Telecommunications cut in Tigray explained

Our staff reporter, phones at normal times, said Frehiwot. following an attack by the Tigray Special The cyber-attacks were Disrupted Denial of “Experts at the Core Site would notify Forces on the Northern Command. Service (DDOS) and unauthorized access Ethio-telecom announced that all telecom the national operation center whenever She also revealed that within the first 14 directed towards government systems lines to the Mekelle core site in Tigray such problems happen,” she said. days since the war broke out, 39.8 billion and sites, educational systems and sites, have been severed. It was in the subsequent messages from cyber-attacks were attempted on various Ethio telecom systems and infrastructure, broadcasting media systems and sites as According to Frehiwot, the telecom the government that ethio telecom government institutions and broadcast infrastructure lines linking Mekelle to learned of the war that broke out in Tigray media houses. well as financial systems and sites. Wukro, Ab’ala, AbiyAdi, Maichew- Kurkuftu, Maichew-Mehoni, as well as Shire and Shiraro have been cut. Footage has been released by Ethio telecom depicting what looks like armed forces pushing themselves into the compound of the company’s office in Mekelle, on November 4, 2020. In the footage, personnel of Ethio telecom are forced out, and it further shows armed militia turning off the power distribution sources. Footage from the CCTV, which was functional only until November 4, was shared by the CEO at a press conference on Thursday December 10, at Skylight Hotel. The findings came after a physical examination of the core site following the federal government resuming control of Mekelle, according to the CEO. According to the CEO, a team of experts from Ethio-telecom travelled to Mekelle following the Military’s control of the city. She noted that prior efforts to identify the causes of the total PHOTO: Anteneh Aklilu blackout of telecom services in Tigray Organizing committe of the Bank region since November 4 were futile as all means of verification failed to direct the experts towards successfully Amhara Bank organizers signal troubleshooting problems. For instance, Frehiwot explained, experts who travelled to Mekelle managed to locate cuts 46 kilometers from Wukro establishment of Amhara Insurance but they could not tell whether there are other places where the lines were severed By Metasebia Teshome The bank said it had sold 1.7 billion birr According to the bank organizers, so far further than that distance. worth of shares within one month period 75,000 shareholders have given power of between October 29 and November 29 Initiated by the success of Amhara Bank, attorney to be represented for the general She added that this was done intentionally alone. the market organizers of the bank have assembly, while it is not enough to fill the by perpetrators who wanted to disrupt the quorum. telecom services in the region to launch an signaled to establish Amara insurance as “This indicates that there is still a attack on the Northern Command of the Capital has learnt. demand for shares, but the sale ended on Melaku also said that to get ample November 29,”said Melaku on a press delegation the power of attorney process National Defense Forces located in Tigray. According to Melaku Fenta, Chairperson conference. has been extended until December 24, of the Organizing Committee of the Bank, The CEO stated that the Mekelle and Shire 2020 and called the shareholders to visit the organizers of the bank are working to Apart from the record it registered in core sites remain undamaged, except for relevant documents registration offices to the damaged lines connecting these sites come up with Amhara Insurance. terms of the paid-up capital, the bank has a large number of shareholders. The finalize the process. to the Base Transceiver Stations (BTS) “The organizers are working to fulfill the bank says it has 185,000 shareholders, According to Melaku, the financial that supply end user networks. requirements of the National bank and while this number of shareholders is institution has not been able to meet After learning that the network had required licenses of which is soon to be challenging to hold the founding general the quorum in accordance with the been disrupted in Tigray through an guaranteed,” Melaku stated. assembly at one place. commercial law and the proclamation of automated SMS notification at 12:37 am After setting the record for an initial the National Bank of Ethiopia (NBE), a on the morning of November 4, 2020, she Hence, the Bank is resorting to delegation paid up capital for a new entrant bank in supervisory body of financial institutions. outlined experts and managers of Ethio- attendance in which multiple shareholders the Ethiopian banking industry Amhara telecom communicated and gathered can delegate their respective representatives Currently, there are 19 banks in Ethiopia Bank has stopped selling its shares after a at their HQ at 03:07 am to troubleshoot to attend and vote on their behalf. including two public banks. According year of subscription period. and restore the services. But they could He said everyone could not attend the to the information obtained from NBE not access the Mekelle Core Site as The bank said it has subscribed capital of first general assembly of all shareholders about 20 new banks both conventional well as its employees who could have 8.1 billion birr and of these 6 billion birr due to the current situation of corona and interest free are on the way to join communicated to them through satellite were paid in full. virus in Ethiopia. the market. Fighting gender based violence through FBOs

By our staff reporter increase the understanding of religious different denominations have condemned leaders on gender-based violence, its GBV and harmful practices. They have A panel discussion jointly organized with causes and consequences. She noted that committed to teach moral values to prevent the Norwegian Church Aid and UNFPA on this has been demonstrated through the GBV in their religious teachings and exert December 8 deliberated on the unique role commitment and engagement of FBOs in efforts to bring about change, agreeing to of faith-based organizations (FBOs) in the integrating GBV issues in their work and support and rehabilitate survivors of GBV fight against gender-based violence and institutionalizing the response in their and work closely with law enforcement harmful practices. The panel discussion various community interventions. bodies to bring about justice. which engaged FBOs from different UNFPA through a partnership with the The panelists reiterated their commitment religious denominations was organized in Norwegian Church Aids that spanned 10 and determination to continue working connection with the 16 Days of Activism years has also been building the capacity in their respective denominations to against Gender-Based Violence. of FBOs at national and regional levels to contribute in the fight against gender- Speaking on the event, Sarah Masale, increase awareness on GBV and harmful based violence and harmful practices. Deputy Representative of UNFPA, said practice and the consequences for women, Meanwhile a short video depicting the through a programme it is supporting girls and families using their structures engagement of faith-based organizations on preventing and responding to sexual to facilitate dialogue at various levels. in the prevention and management of and gender-based violence, UNFPA has Through joint statements that have been gender-based violence produced jointly been engaged in a successful effort to issued by religious leaders at national and by UNFPA and the Norwegian Church regional levels, religious leaders from Aid was screened during the event.

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www.capitalethiopia.com 10 Local News Year 23, No. 1149 Sunday Dec. 13, 2020 Africa Visa openness solutions can ready for boost Africa’s economic recovery: 2020 Africa Visa Openness Index potential addition, 20 countries moved upwards countries increasingly need to look beyond By our staff reporter in rank on the Index, while 50 countries domestic frontiers to boost their economic improved or maintained their scores. The The upward trend in African countries prospects. Visa openness will support report shows a significant rise in e-Visas, Africa to reposition its future growth.” liberalizing their visa regimes and offered by 24 countries in Africa. new welcoming African travelers continues, As close to half of African destinations according to the 2020 Africa Visa Openness Notwithstanding the gains made, findings ease travel restrictions in line with Index published by the African Union show that African citizens still need visas plans to manage the pandemic, travel Commission and African Development to travel to 46% of African countries. safety and security remain foremost in COVID-19 Bank on Thursday, December 10. Countries in East and West Africa rank policymakers’ and people’s minds as highest among the top performers, This fifth edition of the Index highlights it concerns opening up of borders, and worthy of emulation by countries in the as governments update measures for the negative impact of the COVID-19 other regions. pandemic, which threatens to reverse permitting travel. The Index’s findings reinforce the benefits Africa’s economic gains of recent years, “As the time has come to safely reopen wave of prioritizing visa openness solutions and revive economies across Africa, it is affecting sectors from tourism through in large and small economies, with to investment. As travel restrictions ease the biggest gains accruing to business, imperative to institute measures that propel By our staff reporter and safety measures are put in place to investment, innovation and tourism. the continent and all its citizens forward. contain the pandemic, sustaining progress Further facilitating the free movement of Liberalizing a country's visa regime is a Africa is better equipped to deal with a and momentum on more comfortable people, goods and services, becomes even policy tool that can be quickly adopted to potential second wave of COVID-19, continent-wide travel is vital. more important with the start of trading do this,” said Amb. Kwesi Quartey, Deputy leveraging on measures adopted in The 2020 Index shows that a record 54% under the African Continental Free Trade Chairperson, African Union Commission. tackling the pandemic’s initial adverse of the continent is accessible for African Area (AfCFTA) on 1 January 2021. The Africa Visa Openness Index health effects, experts affirmed during a visitors, who no longer need visas to African Development Bank Vice- measures the extent to which African special session on the second day of the travel or can get one on arrival, up by 9% President, Regional Development, countries are open to travelers from other 2020 Africa Economic Conference. since 2016. In 2020, The Gambia joins Integration and Business Delivery, Khaled African countries when it comes to visas “The continent is much more prepared to Seychelles and Benin in allowing visa- F. Sherif said, “as the evolving fallout by looking at what they ask of the citizens deal with the second wave than we were free access for all African travelers. In of the COVID-19 pandemic has shown, when they travel into their countries. 11 months ago,” Dr. John Nkengasong, Director of Africa Centers for Disease Control and Prevention (Africa CDC), said during the session on “Post COVID-19 implications for strategic human capital development in Africa.” About 2.3 million people in Africa have contracted COVID-19 to date, of which around 54,500 have died from the disease. However, much has been done to mitigate the pandemic's adverse effects, including increasing laboratory testing capacity, beefing up primary healthcare defence mechanisms, and leveraging technology to reduce human contact. As the world gears up for new COVID-19 vaccines, the World Bank has unveiled a $12-billion financing package to help developing countries procure the vaccines. Dr. Feng Zhao, Practice Manager of Strategy, Operations and Global Engagement at the World Bank, said Ethiopia is leading Africa’s vaccine initiative. Besides the financing, the World Bank, in partnership with the World Health Organisation and COVAX, will also

provide technical support to countries to PHOTO: Anteneh Aklilu deploy vaccines at scale. While noting that Africa lags behind other regions in developing COVID-19 Hibret Bank’s earnings per share drops vaccines, which some developed countries have begun administering to their citizens, By our staff reporter share for the 2019/20 financial year was In the year, the bank’s outstanding loans the experts lauded African governments 29.79 per 100 birr share value that was and advances have climbed by 26 percent for speedily adopting diagnostic measures Hibret Bank earnings per share drops 39.19 birr in the 2018/19 financial year. and stood at almost 27.5 billion birr from 22 billion a year ago. against the outbreak. by a quarter percentage, while the gross In the stated period, the bank’s expense Within a year, at least six countries - profit surges by 15 percent. has also shown significant increment due The report shows that the company enabled to mobilize additional 4.8 billion birr of Nigeria, Kenya, South Africa, Senegal The annual performance of Hibret Bank to high interest fee and personal expense deposit in the 2019/20 financial year. With and Morocco- have developed diagnostics for 2019/20 financial year indicated that that is mainly salary and benefit of staff. the stated deposit mobilization growth, the for the disease. the company has amassed close to 1.13 According to the annual report the total total deposit amount has reached 35 billion Clare Omatseye, President of the West billion birr gross profit before tax and other expense of the bank has reached 3.78 birr with 16 percent growth. Its interest African Health Federation, emphasized deductions. This is an increment of over billion birr with an increment of 33 free banking wing has achieved the deposit the need for a strategic partnership 15 percent compared with the 2018/19 percent compared with the preceding mobilization of 1.23 billion birr that was between the public and private sectors to performance that was 980 million birr. year that was 2.8 billion birr. 878 million birr a year ago. deal with the pandemic effectively. One The annual report indicated that the such area of collaboration is in bringing From the total expense, the interest From the total deposit, the saving deposit financial firm profit after tax stood at 893 about behavioral change, especially expense stood at 1.8 billion birr followed has taken the lion share with over 18 million birr, which was 752 million birr about misconceptions around the disease. by personal expense of one billion birr and billion birr followed by demand and time in the 2018/19 financial year. Public-private partnerships could also other expenses of 954 million birr. However deposit, which have 8.5 billion birr and 8 Meanwhile as the company profit shows help increase testing, data collection the total income of the bank reached 4.5 billion birr respectively. significant growth, the earning per and capacity building, she said, urging billion birr by an increment of close to 1.1 In the ended period, the bank asset has governments to create an enabling share has dropped by about 24 percent billion birr with the expansionary expense reached 43 billion birr with 20 percent environment to allow the private sector to compared with the preceding year. consuming a significant amount from the growth, while the paid up capital has manufacture protective equipment. The report indicated that the earning per total income. reached at 3.2 billion birr in the year. www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 Advertisement 11

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www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 13 News Brief

Russia to establish Navy Base private-sector investors face in investing in Ismall localn firms, women and young people in Ethiopia earns $770m from renewable energy projects in Africa and how making the most of new opportunities’. in Sudan for at least 25 Years a programme as the one promoted by the (Press Release) export Q1 Russia has signed an agreement with Sudan renewAfrica Initiative would facilitate such The Ministry of Finance announced that the to establish a navy base in the African investments, thus unlocking the continent’s Wegagen Bank appoints new country has earned $769.9 million from export nation for at least a quarter century, part of renewable energy potential. president during the first quarter of this Ethiopian fiscal. Moscow’s efforts to expand its global reach. (Press Release) The revenue has shown $46.9 million increase The deal published Tuesday on the official The Board of Directors of Wegagen Bank compared to the same period last fiscal year. portal of government documents allows New tool enables African announced the appointment of Birtukan Russia to simultaneously keep up to four businesses to find continent- Gebreegzi as the President of the Bank. On Finance State Minister, Eyob Tekalign navy ships, including nuclear-powered ones, the occasion of her reception ceremony the presented a three-month performance report in Port Sudan on the Red Sea. The agreement wide trade opportunities as the CEO said “I would do my level best to steer of the ministry to the Revenue, Budget and lasts for 25 years and could be automatically AfCFTA begins in 2021 the Bank towards a better achievement“. Finance Affairs Standing Committee of the extended for 10-year periods if none of the Birtukan graduated from Addis Ababa House of Peoples Representatives. parties objects to it. The document states A new trade intelligence tool that enables University with BA Degree in Accounting According to him, the export performance that the Russian navy base should “help firms to easily explore and compare trade and holds MBA in International Business. in particular and the country’s economy in strengthen peace and stability in the region” opportunities across Africa has been released The CEO has got over 35 years of experience general have registered growth during the past and isn’t directed against any third parties. ahead of the start of trading under the new in the Banking Industry. She started two consecutive fiscal years. African Continental Free Trade Area. In exchange for Sudan’s permission to set her career as Officer and Bank Clerk at (FBC) up the base, Russia will provide Sudan with The African Trade Observatory was Commercial Bank of Ethiopia and served in weapons and military equipment. rolled out by the African Union (AU), the different capacities such as Manager of North Term (AP) European Union (EU) Commission and Addis Ababa District, Director, International of the the International Trade Centre (ITC) at an Banking Department and as Manager Import The renewAfrica Initiative AU summit on 5 December 2020. ‘Trade and Export, among others. The CEO also presented in Africa for the first information is vital to the promotion of trade served at Enat Bank as Vice President, Day in Africa,’ AU Commissioner for Trade and Operations and Director of International time Industry, Albert Muchanga said. Banking Department at Bank of Abyssinia. JOURNAL The renewAfrica Initiative was presented at The AfCFTA lowers trade barriers and (Press Release) Photovoltafrica, the International Congress of promotes regional economic integration. Definition Renewable Energies and Energy Efficiency Trading under the continent-wide area is NEBE invites local CSOs to based in Morocco. The presentation marks a set to begin on 1 January 2021. ‘Economic An accounting record where all business milestone for the Initiative, as it is officially Integration is close to the heart of the submit interest to observe transactions are originally entered. A journal presented for the first time in Africa, before an European Union and will continue to support upcoming elections details which transactions occurred and what African and international audience. the African Union towards its endeavour accounts were affected. Journal entries are The National Electoral Board of Ethiopia usually recorded in chronological order, The presentation took place within the “The of the African Common Market,’ European (NEBE) invited interested local CSOs to and using the double-entry method of challenges of financing renewable energy Union Commissioner for International Partnerships Jutta Uripilainen said. submit their interest to the board to observe bookkeeping and efficiency projects in Africa: Obstacles the upcoming general elections. and difficulties” panel discussion of the event The African Trade Observatory is especially promoted, among others, by the Ministry valuable for empowering the economic Adding the inputs it gathered during Usage Example of Energy, Mines and the Environment operators during this COVID-19 pandemic, consultations held with representative of CSOs and other stakeholders, the board had The company would face heavy fines of the Kingdom of Morocco, MASEN ITC Executive Director Pamela Coke- if they could not produce their journal and ONEE. Roberto Vigotti, Secretary Hamilton said. ‘Today, we are putting an entire approved election observers’ code of conduct to give accreditation to local observers. documenting their transactions when the General of the RES4Africa Foundation, continent of trade intelligence at the fingertips auditor arrived. explained the difficulties that European of African entrepreneurs, especially to support (FBC)

UNITED NATIONS DEVELOPMENT PROGRAMME (UNDP) Recruitment of Staff Members and Individual Consultants

Procurement/ Contract Web-link to download Proposal Submission No. Brief Consultancy/Job Post Recruitment Type Submission deadline Ref. No. https://procurement-notices.undp.org/ Monday 21st ETH1976 ETH1976-National Consultant- view_notice.cfm?notice_id=73606 December 1 Technical Lead Expert: Strategic IC* 2020 Addis e-Tendering event and Project Management https://etendering.partneragencies.org Ababa Local ID: ETH1976 Time

st https://procurement-notices.undp.org/ Monday 21 ETH1977 ETH1977-National Consultant- view_notice.cfm?notice_id=73607 December 2 Resource Mobilization and IC* 2020 Addis Business Development Specialist e-Tendering event Ababa Local https://etendering.partneragencies.org ID: ETH1977 Time

Important information on UNDP employment modalities: Individual Contractor (IC): a procurement modality for individual is published on the national or global UNDP websites. consultancy service. Please note that it not Firm Level Service. ffUNDP does not request or issue personal bank checks, Money Fixed Term Appointment (FTA): is a modality of hiring individuals Grams, Western Union or any other type of money transfer at under a staff contract for a period of one year or more. any stage of its procurement or recruitment processes. The use of UNDP’s name and logo without UNDP consent is ffUNDP does not request any information related to bank inappropriate. UNDP strongly recommends that people who accounts or other private information prior to formal registration receive solicitations to apply for positions or engage in procurement as a vendor. processes exercise caution to ensure authenticity. UNDP advises ffUNDP does not offer prizes, awards, funds, certificates, the public that: scholarships or conduct lotteries through telephone, e-mail, ffUNDP does not charge a fee at any stage of its recruitment or mail or fax. procurement process. All information related to these processes ffRelated queries can be sent through [email protected]. www.capitalethiopia.com 14 Advertisement Year 23, No. 1149 Sunday Dec. 13, 2020

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www.capitalethiopia.com 16 Year 23, No. 1149 Sunday Dec. 13, 2020 INTERVIEW

Harry G. Broadman is managing director at Berkeley Research Group and chair of the firm’s Emerging Markets practice. He is a globally recognized veteran industry executive; private equity investor; expert witness; strategic advisor to boards and C-suites; independent corporate director; author of numerous books, professional articles and columns on international business; and keynote speaker. Broadman is an authority on complex matters involving international investment and trade disputes, arbitration and damages; sovereign trade agreements and investment treaties; national security regulation of investment (CFIUS) and of exports and imports; antitrust; economic regulation; corporate governance and shareholder rights; compliance; corruption investigations (FCPA); corporate social responsibility (CSR); and global business growth and operations; risk-mitigation strategies; international private equity investment; negotiating cross-border transactions; supply

US-AFRICAUS-AFRICA relationsrelations

www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 17

chains; sovereign wealth funds (SWFs). The core of Broadman’s more than 36-year professional career has been in the private sector, with senior executive positions in international finance, private equity investment, global business strategy management consulting, and litigation expert witness services. These activities have been interspersed with stints in the public sector-as a White House economic official, international trade negotiator, foreign investment regulator, and US Senate professional committee staff member-as well as in academia, as a university Capital: How do you predict the US-Africa I told them that many businesses I know who professor, and in economic policy relation will be after President-elect Joe otherwise would be interested in investing in Biden takes office? Africa considered the crazy quilt of overlapping research organizations and think RECs as hinderances, not as vehicles for making tanks. He is also the author of the Harry Broadman: Compared to the Trump investment more attractive. The constellation Administration, U.S.-African relations in the of RECs was counterproductive. I argued book “Africa’s Silk Road: China and economic sphere under a President Biden that we needed to move toward a unified can only improve. Mr. Trump seemingly had system of free trade mechanisms throughout India’s New Economic Frontier” disdain for the continent. By contrast, a number the continent. Today, my fear is that African published by the World Bank. of the people in Mr. Biden’s immediate orbit leaders will not have the courage and foresight know several African countries well and have to see this through. There is little question that spent time on the continent. And, Mr. Biden, various constituencies within each country will As US President-elect Joe Biden himself, has visited African countries over his be fearful of the changes and the dislocations prepares to take office Broadman career-both as Chair of the U.S. Senate Foreign that an AfCFTA will usher in. This happens Relations Committee and subsequently as Vice worldwide. That is why serious thought needs to discussed the future of U.S.- President under President Obama-who, as be given now for a continent-wide social safety African relations with Capital. many people know, has roots in Africa. to cushion these impacts. Capital: Do you think the United States’ Capital: How do you describe sub-Sahara Excerpts; ongoing Free Trade Agreement negotiations Africa as an investment potential? with Kenya will have an effect on other African countries? Broadman: When I give speeches about Africa, I refer to it as the “continent of economic Broadman: I don’t know if they will. And, I don’t misperceptions.” People overestimate the risks know what importance the new administration and underestimate the opportunities of investing will place on a U.S.-Kenya FTA per se. Frankly, in Africa. In my view it’s exactly the opposite my own view is that businesses, workers and of China-where investors underestimate the consumers in Kenya-indeed those across the rest risks and overestimate the opportunities. of the continent-will actually profit even more if the U.S. were to help Africans conclude the Capital: How do you see the rule of law in AfCFTA, including perhaps helping to fund protecting investments in sub-Sahara Africa? a program to cushion the business and worker Broadman: It’s vastly improving in some dislocations and other structural changes on countries and lagging in others. I know this well the continent that the AfCFTA will necessarily as much of my career focuses on investment engender as part of the process of furthering disputes. But overall, this is one area where I intra-African trade as well as becoming more think the AfCFTA could make a big contribution. competitive in world markets. Capital: Corruption is the main obstacle to Capital: How do you see the ratification investment in sub-Sahara Africa, how do of the African Continental Free Trade you describe that? Area (AfCFTA) agreement? Can AfCFTA overcome its high risks? Broadman: Corruption is but one investment risk in Africa, just as it is in many other regions Broadman: The AfCFTA can-and if executed of the world. Having worked in more than 85 properly will-be an economic game changer for emerging markets, I’m astonished when an the continent. It must happen, that is if Africans investor tells me the risk of corruption in region want to see their continent-and their children’s ‘A’ of the world is much worse than region ‘B’ continent-realize its economic potential. I of the world. There is simply no way to measure started talking about the perils of very low flows this in a truly meaningful way. Thus, the real of intra-continental trade 15 years ago when path forward is understanding what investment working with various RECs. When I would strategies can be utilized to mitigate such risks describe the idea of moving to a continent-wide and there are a number of creative approaches FTA, I was almost laughed out of meetings. that can be employed.

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www.capitalethiopia.com 20 Year 23, No. 1149 Sunday Dec. 13, 2020

Ethiopia in Czech colour

he Embassy of the Czech Republic held its second art exhibition and bazaar this year in the embassy’s compound on 5th of December 2020. The embassy collaborated with The Ethiopian Visual Art TAssociation and the Ethiopian Women Artists Association to provide a platform for professional and amateur Ethiopian artists to showcase their work. The event was attended by diplomats from different embassies, art enthusiasts and the press. The event kicked off by a brief speech by the Deputy Ambassador Jaroslav Zukerstein. He cheered and thanked everyone involved in his discourse. His speech was followed by President of Ethiopian Visual Art Association Aklilu Mengestu. The artist expressed his heartfelt gratitude to the embassy for delivering a platform and art appliances for Ethiopian artists. He also highlighted Czech’s remarkable influence on art in the 19th century and Czech’s good reputation in the art industry. Over 200 paintings and 15 sculptures were displayed throughout the compound. These pieces were brought about by 20 artists, 8 of whom are women. Out of these adept artists Robel Wolde and Brihan Beyene's enchanting oil paintings stood out. Amen Badeg's exquisite sculptures, made of scrap metal, had left everyone in awe. The embassy had arranged for art collectors and artists to negotiate directly and learn the essence behind the pieces. Other products such as high- quality leather bags by Undkdən and pieces of jewellery made by Ambassador Senait Mikešove were procurable providing more purchasable options for guests. The embassy partnered Science film festival with Hyatt Regency, Awash winery and Natti’s coffee to cater for the event and make the day more enjoyable and memorable. Ethiopian science film has brought scientific and allows students and the general public to gain Deputy ambassador of Czech Republic Jaroslav zukerstein educational movies to Ethiopian film industry every awareness about contemporary science, technology stated that this event was held to bring Ethiopia and Czech year since 2017 with the exception of 2019. This and environmental issues and enjoy the movies for Republic together in an informal manner and to strengthen year, Goethe Institute has collaborated with the free with their friend or family. the relationship between these two countries with a long United Nations Environmental Program, Ethiopian Edna Mall will be showing handpicked award-winning history of alliances. He said he hopes this event will help Academy of Science and Children Science Museum science movies and documentaries suitable for any age share the embassy’s values such as freedom, diversity, and and Edna Mall to show sustainable development goal group. These movies will be aired in the given day from self-expression as these are core to society and art. He also (SDG) themed, ‘educational movies.’ Wednesday to Sunday 2 PM to 4 PM. This festival is mentioned that the embassy is already planning edition three, The movies will be aired from December 3 to 20 expected to celebrate science and promote science literacy art and exhibition with more artists and including other arts at Edna Mall and other private and public schools in different continents, including Africa, Southeast Asia, such as fashion design. across different sub-cities in Addis Ababa. This with Asia Middle East, and Latin America.

DJ YEMI’S new album

J Yemi is a songwriter, producer and a DJ with over a decade of experience in the music industry. She is known for her radio personality at the hype and breakfast show at 105.3 Afro FM. On December 10, 2020 she launched her very first album entitled “Gudfela” at Mood Club. She collaborated with Atnatious Hailu aka Atni a young songwriter and producer. The event was Dattended by fans and music enthusiasts. The album launch kicked of by DJ Yemi welcoming and thanking everyone for coming. That was followed by playing every track on the album and giving a brief explanation and meaning behind every song. The event was sponsored and catered by Doppel Beer. The Album is comprised of Oromfa, Tigrigna, Guragigna genres. Vocalists like Nahom, Bura, Omi, Raheal, Amy and Getachew Hailemariam participated in the making of the album. The album consist a total of 11 songs. A particular song entitled “Hola” was made by 14 elderly people over the age of 70 from the Southern part of Ethiopia with their breathtaking voice. The artists put 5 years into making of the album. DJ Yemi told Capital that a song entitled “Enat” is her favourite as it has a deep emotional meaning to her concerning her late grandmother. She said “my grandmother is a strong influence to me. She taught me almost everything I know.” She also mentioned that it is relatable to anyone and can be used to refer to one's mother or country. The 33-year-old artist spoke of working on a 2nd album. And she hopes this album brings joy to every Ethiopian both in Ethiopia and overseas.

www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 21

they presented those very perpetrators platforms beatifying the TPLF and as victims to be rescued by agitating the demonizing the federal government. international community. They first pontificated elevating the TPLF To this day, many of the international as a formidable force with unmatched media are yet to clearly call out the strength and time-tested resolve in the party which started the conflict-and country and beyond. When that notion of triggered the war. And yet, while the invincibility crashed as the TPLF forces cabal surreptitiously and systematically were thunderously trashed in a rather misinformed the international community humiliating defeat, they quickly shifted and falsely accused the Federal Forces of the narrative to human suffering and the Northern Command as starting the displacement, pressuring the international war, one of their high-ranking officials, community for a negotiation to save the openly admitted at a televised interview losing cabal from annihilation. that TPLF started the pre-emptive So much for the invincibility of the TPLF “thunderous” attack likening it to a history and its loser enablers and shenanigans. of Israeli forces. Most of the media houses The TPLF, which bragged about its 17 continue to deliberately ignore this critical years struggle-and shining victory for the fact and portray the government as equally last 27 years of its rule rather incessantly THE culpable, if not more. and arrogantly-lost the war in a crashing defeat in as many days with its leaders Humanitarian and Human now running for their lives in ravines, The Right Organizations caves and mountains. It is important to mention the retraction TPLF has a long-and dark-history of and apologies of some of the major “INTERNATIONAL playing humanitarian organizations as international media, such as the BBC, narrated and written by a number of its which have been misused by some of the own former members. A report by BBC cabal’s enablers and shenanigans. In its over a decade ago that uncovered misuse relentless pursuit of the Prime Minister of aid money and provisions by the TPLF as a culprit describing him a “Nobel COMMUNITY” cabal is a case in point. Peace Prize Winner who Sent his troops The history of some of the human to Battle” the BBC and others attempted rights organizations, such as Amnesty to trash his well-deserved trophy and International, is not unembellished one. presented it an obscene dissonance. In one of its reports on the situation Two weeks after the TPLF cabal attacked AND ETHIOPIA in Ethiopia some six months ago, the the Northern Command and admitted organization produced such a sloppy starting the war, the International Crisis report, that it had to withdraw part of it Group, which describes itself and its and promised an internal investigation (at analysts as not taking sides, is still The Good, the Bad, the least so it said). But, in the recent conflict, disregarding the fact when it wrote on most Ethiopians and the government 22 November 2020, more than two watched with yet another surprise as the weeks after the attack: “On 4 November, organization hesitated to call the TPLF Ugly-and the Gullible Africa’s second most populous country perpetrators of the My-Kadra massacre plunged into a serious conflict between which the UN has recognized and ruled federal troops and security forces from By The Queen of Sheba multinational corporations and institutions further investigation. which employ a variety of subversive the Tigray region, one of Ethiopia’s ten In the last three difficult years, millions The attack on the Ethiopian Federal acts-including sheer brutality, conspiracy, states.” So much for “not taking sides” of Ethiopian citizens have been internally Forces of the Northern Command by white lies and misinformation, to serve that and the non-partisanship empty sermon. and externally displaced-and yet this sect the TPLF cabal has drawn a multitude interest under the guise of international of the international community has been of actors from the vast array of the so cooperation and international partnership. The Gullible called “international community”. To be eerily silent. As a matter of interest, this Ethiopia has witnessed as many such was the time when the TPLF declared The TPLF cabal reckons that the sure, this international community is as entities as there are in its long and proud international community in general is diverse as the human race itself-with all Tigray as the only peaceful region in history. The scandalous rejection of her the country, though mounting evidence gullible and prone to easy manipulation. kinds of interests, concerns, persuasions protection at the United Nations when it It has been known to pay handsomely and expectations. This community, thus, has been implicating it in most of the was savagely attacked and then invaded conflicts and atrocities. To put things to muzzle critical voices and alternative comes in multiple forms and shapes by Italian Fascists in the early twentieth views as one of its sustained strategy to that could be laconically categorized- in perspective, this current conflict century is one poignant reminder. has displaced about 40,000 Ethiopians achieve that. The relentless effort and without scholastic distinctions-as the massive resources it deployed to kick off good, the bad, the ugly-and the gullible. in the Sudan-many of whom Tigrean The Ugly militia and special forces suspected of the popular news media, ESAT, off the air Exhibiting a complex ecology of this vast is one case in point. community in such simplistic dichotomy While both the good and the bad wings committing the My-Kadra massacre. The public relations machinery of the may be imprecise, but it helps to provide are often obvious to discern, this While one displaced Ethiopian is one too cabal has been mostly effective-in some glimpse into the relationship category of the international community many, the noise for 40,000 in contrast keeping it in power as well as sustaining between this community and Ethiopia. is sneaky and devious and known to to the millions is simply telling the ugly employ a medley of acts under the guise nature and modus operandi of this wing it through the short-lived war. What is The Good of whatever is international. One such of the international community. remarkable however is how it managed to group widely accused of undermining the Recently, the Ethiopian government take even the most enlightened members The international community has played Ethiopian interest has been some of the of the global community-academics an important role in financially, materially was accused of backtracking on its major international media. commitment to unfettered access to the and researchers-for a ride as recently and logistically supporting the Ethiopian discovered in the signatures petitioned people and its governments. A lion’s share humanitarian mission in the affected The Media regions in Tigray. Though the government by the cabal and its sympathizers. In the of the government budget of Ethiopia has list, one would quickly notice many who been financed by this community through The media plays a key and critical role has categorically denied it, one wonders if it should be blamed at all given the could have known better than signing different mechanisms-including direct in informing and shaping the views a document with an ulterior motif of budget support, soft loans and other of the international community-well, treachery, partisanship, misinformation, and arm-twisting orchestrated by the sustaining a cabal which has continued arrangements. humanity as a whole. The Ethiopian to massacre and commit genocide as the conflict has shown the ugly face of some operatives and sycophants of the cabal At a humanitarian level, the massive recent My-Kadra case vividly exhibited. of the leading international media in and more so the heavy burden of the support Ethiopia had received at the time of their unbalanced and biased reporting. TPLF history with aid and humanitarian the devastating famine and drought in the In Conclusion The media houses have shown massive mission in the past. 1980s is a reminder of the good intentions partisanship including violating the At the end, it is the classic story of the of this wing of the international community. It is remarkable that some of the so basic journalistic decency. In a number infamous Humpty Dumpty who hoisted The majority of this community was driven called human rights organizations have of cases, viewers have been bombarded himself on the wall and met its fate- by a genuine interest to foster human been known to turn a blind eye as TPLF with recycled news, watered down agonizingly. decency, advance humanitarian values massacred and brutalized its citizens-in the facts patched with screaming headlines and fight abject poverty around the world. past and currently. These very organizations Humpty Dumpty sat on a wall. favorable to the TPLF cabal. Ethiopia has been welcoming and working suddenly turned into advocates of human Humpty Dumpty had a great fall. closely with this wing of the international It should be noted that paid TPLF rights and saviors of the nation when they All the king’s horses and all the king’s community for years. operatives and its shenanigans-under are actually operating covertly to throw a men cannot put Humpty Dumpty together the guise of journalists and analysts- life line to the atrocious cabal. again. unabashedly misrepresented facts, lied The Bad The Enablers and the Shenanigans incessantly, and even went as far as hinting RIP Humpty Dumpty. RIP TPLF. Long The other wing of the community at to the cabal some disastrous actions as The hired guns and the shenanigans of the live the international community in the extreme end of the good is driven alternative measures. For instance, these TPLF cabal have been out in full force the service of human dignity, human by sheer greed, self-interest, arrogance partisan journalists and analysts largely in what appears to be a very coordinated development, and global justice. and hegemony. This wing is dominated opted to ignore the massacres perpetrated public relations siege. Unencumbered by a number of powerful and not-so- by the marauding and fleeing forces of the by ethics and integrity, they manipulated The Queen of Sheba can be reached at powerful governments, political entities, TPLF cabal. To add insult to the injury, major media outlets and social media [email protected] www.capitalethiopia.com 22 Advertisement Year 23, No. 1149 Sunday Dec. 13, 2020

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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. Africa must forge CHILDREN AT WORK Data, platforms and strong partnerships analytics helping Africa to rebuild faster post- combat COVID-19 COVID-19 The Economic Commission for Africa (ECA) and the Global Partnership for Sustainable African countries must strengthen governance Development Data (GPSDD) hosted a virtual and international partnerships, while also webinar showcasing the power of data partnerships making better use of abundant natural resources in combating the ongoing novel coronavirus to accelerate economic recovery in the post- pandemic in Africa. COVID-19 period, the International Forum on In his remarks, ECA’s African Centre for African Leadership heard. Statistics Director, Oliver Chinganya, said since “We owe it to posterity to leverage the partnerships the inception of the ECA-GPSDD partnership to that we have and forge new ones to expedite the support countries to better respond to COVID-19; resurgence of our economies,” said Lazarus Building Africa’s Resilience to the pandemic; Chakweras, President of the Republic of Malawi, “We have worked with a consortium of partners during the forum, which was organized by African who have supported the continental and national

Leadership Magazine . PHOTO: Anteneh Aklilu statistical systems to adapt to the ongoing African leaders must be at their creative best to challenges and revamp statistical production, secure critical global partnerships and to drive the dissemination and use”. continent’s economic resurgence, said Chakweras, “The idea was to bring the best data, platforms and adding that governments also need to build trust BEAUTIFUL analytics to combat COVID-19 across Africa,” he with their citizens. said. “The COVID-19 pandemic has taught us that poor governance damages public trust in government interventions. We cannot attract the world to our nations if our nations are in disarray,” he said. Africa Young Innovators for Health Award UAE, Ethiopia discuss launched cooperation between The International Federation of Pharmaceutical interfaith institutions Manufacturers & Associations (IFPMA) and Speak Up Africa launch the first edition of the The United Arab Emirates Embassy in Addis Ababa “Africa Young Innovators for Health Award” at the and the Inter-Religious Council of Ethiopia (ICE), Galien Pre-Forum Africa session focused on Youth discussed enhancing of cooperation between the Leadership. interfaith institutions in the two countries for the Prof. Awa Marie Coll-Seck, Minister of State and promotion of mutual understanding, tolerance and President of the Scientific Committee of Forum peace. Galien Africa, who is also a Jury Member for the The meeting deliberated on role of inter-faith Award and Speaker at the launch event says “The institutions to bring understanding and peace. COVID-19 pandemic has shown us more than ever In particular, the meeting was briefed on the how healthcare professionals and social workers Abrahamic Family House, which is one of the are on the front line in responding to major health UAE’s main initiatives for global tolerance and challenges. This multisectoral and community peace. response contributes to building a strong and The meeting was held, on 2nd December, at the resilient health system. However, despite the ICE Secretariat, between Talal Al-Azeezi, Head increased investments in human resources and of the Political, Economic, and Media Affairs the many innovative financial mechanisms put Section at the UAE Embassy, and Tiguhan Kesis in place across the continent, the work of these Tagay Tadele, Secretary General of the Inter- professionals and the health systems as a whole Religious Council of Ethiopia. have been severely put to the test. We must support Talal said that the Abrahamic Family House is them.” consisting of a mosque, church, synagogue and educational center, to be built in Abu Dhabi in the UAE. “The House embodies the common values between Judaism, Christianity and Islam, and Anteneh Aklilu Coffee Innovation Fund constitutes a platform to enhance understanding and a true reflection of the UAE's belief in PHOTO: launched tolerance and peace” he added. The Ethiopian Coffee and Tea Authority launched a 13.5 million birr Coffee Innovation Fund. IRENA, AfDB partner to The current global value for the coffee industry NEW FACE OF ADDIS is over $200 billion a year. However, in countries scale up renewables like Ethiopia coffee growers and local economies have been largely excluded from the benefits. In order to improve this reality, the Coffee Innovation investments in Africa Fund (CIF) is launched for the second time in four The International Renewable Energy Agency East African countries: Ethiopia, Kenya, Rwanda (IRENA), and the African Development Bank and Uganda. The Coffee Innovation Fund 2.0 is (AfDB), have agreed to work closely together to continued support for creating opportunities for advance the continent’s energy transition through investment. joint initiatives that support investments in low- The fund aims to enable smallholder coffee carbon energy projects. businesses and producers to test new ideas that Under the Declaration of Intent, the two entities increase the profitability of coffee farmers and confirmed their wish to collaborate on supporting the ensure a fairer and equitable share in the coffee continent’s energy transition under a framework of supply chain. It calls for innovative approaches that core activities. These include co-organising renewable promise to improve the production, processing, energy investment forums as part of IRENA’s and marketing of coffee and boost local value contribution to the Climate Investment Platform, and creation. collaboration on the Bank’s annual Africa Investment “Innovation helps humans address daily hardships. Forum. Furthermore, strong emphasis will be placed There are many obstacles and backward practices on concrete support for enhancing the role of renewable prohibiting coffee farmers from realizing their energy in Nationally Determined Contributions and full potentials. Modernization of the coffee value sustainable development objectives. chain, specifically in value addition are essential. The joint declaration was signed by Francesco The government has plans to enable sustainable La Camera, Director-General of IRENA, and changes in the lives of the farmers by supporting Kevin Kanina Kariuki, Vice-President, Power, Anteneh Aklilu innovative ideas, processes and projects” said

Energy, Climate and Green Growth at the African PHOTO: Adugna Debela, head of Ethiopian Coffee and Tea Development Bank. Authority.

www.capitalethiopia.com 24 Year 23, No. 1149 Sunday Dec. 13, 2020 PRESIDENT DONALD TRUMPand the decline of the United States Alazar Kebede the statistics that measure them. They of "What Went Wrong" and "Billionaire among the classic characteristics of a dovetail precisely with the direst of Democracy: The Hijacking of the American developing nation. It cannot satisfy any Continued from last week climate predictions. And yet, President Political System" stressed that few if any American, regardless of partisan stripe, Many economic analysts strongly criticized Donald Trump with the full backing of the developed nations maintain above-ground that they constitute five epic failures for the leadership of President Donald Trump Republican Party, denies climate change power grids as the United States still the Trump Administration. as reckless. Richard Phillips, a New York- and presses forward in promoting the does. And the decrepit state of the United The sixth failure in which Richard Phillips based international Financial Analyst is bold unrestricted extraction and use of fossil States electrical grid does not even address enumerated is the shredding democracy enough to say that for all of his bombast, fuels. Within the Trump Administration, the jumble of problems with crumbling in the United States. The aforementioned under the leadership of President Donald environmental problems are not confined roads, bridges, rail lines and waterways. five epic failures are bad enough. But they Trump the United States has actually grown to climate change. Since taking office, the Maintaining a sound infrastructure is a would exclude one more characteristic more and more to resemble a developing Administration has orchestrated a systematic collective national endeavor. It is therefore of developing countries that actually nation. To assert his claim, Richard Phillips gutting of environmental regulation overall. especially telling, and tragic, that any sense represents the Trump Administration’s outlined six epic failures. Lase week we Richard Phillips further noted that favoring of nationhood has been totally abandoned biggest failure or rather deliberate act of have discussed the first three failures which extraction industries every step of the by President Trump and his Republican brazenness. According to Richard Phillips, indicated the decline of the United States in way, President Trump, again with the full cohort in the United States Congress in it is President Donald Trump’s assault the last four years under the leadership of backing of the Republican Party, has placed favor of prosperity for the privileged on democracy itself. The fact is that the President Donald Trump. the country’s water systems, wetlands and few. Instead of pouring precious federal President seeks to put in place a form of The fourth failure in which Richard wilderness areas at extreme risk. It puts resources into national restoration, money government that is no longer anchored in Phillips outlined is the extraction economy in place an environmental infrastructure in the form of tax cuts is channeled to a new the basic principles of democracy. It has of the United States. The United States’ common to developing rather than made-by-Trump kleptocracy overseen by become detached from the tenets that National Weather Service is currently developed nations. This pattern of denial legions of lobbyists. shape duly elected governments in other predicting the possibility of approximately and deceit puts the United States on track to Corruption in Washington is another developed nations. 20 named storms coming ashore in the increase rather than reduce its dependence important point of consideration. Frank George Tyler argued that like despots in United States this hurricane season. upon natural resource development, Vogl, Co-founder of Transparency so many developing countries, President Such a violent hurricane season does not making the United States a target for all International and author of “Waging War Trump governs more and more by come as a surprise to anyone who closely the corruption that extraction industries on Corruption: Inside the Movement decree in the form of executive orders. follows the impact of global warming on bring with them. The United States aside, Fighting the Abuse of Power” stated that In so doing, he bypasses almost entirely the United States ecosystem. Devastation environmental degradation at the hands corruption in Washington, D.C. is akin to the people’s elected representatives in from climate events, whether brush fires in of extraction industries is a characteristic the kinds of corruption one finds in places the Congress, which itself has grown California, heat waves in the Southwest, common in many developing nations, like Lagos or Kabul, albeit on a more increasingly dysfunctional. And as the next inundations in states bordering the Gulf of which base their ongoing development on sophisticated level. Instead of foreign presidential election approaches, President Mexico and tornadoes sweeping through the exploitation of their natural resources. entities bribing local officials as happens Trump busies himself casting doubt on its the Southeast, has become a staple of The fifth failure is rumble in the in developing nations, United States legitimacy and throws up impediments United States news reports. infrastructure jumble. Extraction is one companies bribe United States officials within the United States Postal Service that Death and physical deprivation have side of the coin. The other side is the in the United States federal capital city, are aimed at suppressing the vote, a tactic become commonplace, with victims of state of the United States’ infrastructure. as well as state capitals. In the meantime, common in the most corrupt developing climate change largely left to fend for As is the case in so many developing the United States’ crumbling infrastructure nations. themselves. So far, 2020 is on track to nations, United States infrastructure has looks more and more like what one would And yet, a large cross-section of the become the hottest year on record in the been widely neglected, despite President find in other developing countries. United States electorate seems content to United States, with dozens of United Trump’s extravagant campaign promises The five epic failures of the contemporary tag along for this ride in reverse toward a States cities setting all-time records for in the last election. The lack of adequate United States under the President Trump Great Leader, the very notion the founding high temperatures. But then, nine of the infrastructure became most evident with regime are: Out-of-control United States father of the United States wanted to avoid. 10 hottest years on record globally have recent storms - Hurricane Isaias in the fiscal and monetary policies; the rise Most astonishingly, like pre-pubescent occurred in the past ten years. northeast and the derechos in the Midwest of the police state; an inadequate and children sitting in the back seat of the car Richard Phillips stressed that there is no - when above-ground power grids were ineffective health care system; a rapidly during a long ride, they happily ask one longer much ambiguity in these weather devastated along with crops. degrading environment and a deteriorating question over and over: “Are we there yet? patterns. Nor is there any ambiguity in George Tyler, an economist and the author infrastructure. These failures are also Are we there yet?” OPINION Highlands. Just as Loch Ness in the Scottish Highlands started as a tourist destination for monster hunters but later Can The Unicorn Revitalize Post- evolved into a destination for beauty in its own right, so too can the 2,750 meter high Mount Damota lure these niche travelers. Others may also be drawn to visit COVID Tourism to Ethiopia? Ethiopia by the belief that the unicorn and its horn was once abundant in the By Alfonso Colasuonno leaders, but a global leader as well. behind this tale. land. Legends of Ethiopian royalty (in However, there is one possibility that’s Although information about Prester particular, princes) receiving gifts of The COVID-19 pandemic has drastically rarely (if ever) spoken about as a major John is scarce, multiple historians and reduced tourism in every corner of the bowls, goblets, and knives made from the driver of tourism to Ethiopia—the land’s mythologists associate him with the unicorn’s horn are popular in the Western globe. rich connection to the mythical unicorn. unicorn. According to some of these imagination. International tourism to Ethiopia has not Ethiopia’s connections to this legendary sources, Prester John was known to have The uncertainty of whether the unicorn been an exception to the rule. Endegena creature run deep. Tourists seeking an unicorns in his royal court. By some actually existed in Ethiopia, or elsewhere Desalegn, Acting Communication adventure would find few nations that can accounts, he had as many as 77 unicorns in the world, simply adds to its allure. Director with the Ministry of Culture rival Ethiopia in regards to its unicorn lore. present on his grounds. So plentiful were However, given the rise of the unicorn and Tourism, has stated that while best And between the unicorn’s resurgence in the number of unicorns at his court that in the Western popular consciousness efforts are being applied to guard against popularity in the West, and the continuing he was known to have offered some to through a preponderance of media and COVID-19, the entire sector has been increase of Chinese investment through rulers throughout Africa, the Middle its continuing presence as a major part affected by the pandemic’s impact. the Belt and Road initiative, now might East, and India. of Chinese culture (where it is known as Fortunately, relief appears to be on the way in be the perfect time to advocate for a savvy campaign linking Ethiopia with the The Unicorn Across Ethiopia the ki-lin), the unicorn may just hold the 2021 with several promising developments magical key to a significant boost to the in the creation and production of vaccines. mythical unicorn as a way to enchant a Even though Prester John’s legendary whole new subset of tourists. Ethiopian economy upon the distribution As the world slowly returns to normal, kingdom has yet to be linked to a specific of a COVID-19 vaccine. tourism is expected to return, and perhaps The Legend of Prester John location within Ethiopia, there are other areas of the nation that have more exceed, pre-COVID levels. Prester John was said to be an Ethiopian Bio: Alfonso Colasuonno is the co- conclusive ties to the unicorn. Between Ethiopia’s seven UNESCO king and Nestorian Christian patriarch. author of The Book of the Magical World Heritage sites, a stunning and While official records of his leadership Don Juan Gabriel, a Portuguese colonel, Mythical Unicorn (theunicornbook. diverse landscape, world-renowned are murky, and some of the claims appear attested that he had spotted a unicorn in com). He has been featured on Coast cuisine, and a rich history involving the to be of dubious provenance (i.e. the near Damota. This dovetails perfectly with to Coast AM with George Noory, culture of Aksum and multiple important impossibility of his rulership spanning folklore that states that unicorns were White Shores with Theresa Cheung, sites for those of the Christian, Jewish, and multiple centuries), the legend of Prester believed to be native to the “Mountains The Conscious Living Network, and Islamic faiths, Ethiopia is already poised John could springboard a market to of the Moon,” a mythical mountain range many other publications, radio shows, to become not only one of Africa’s tourism tourists seeking to discover the truth that might in actuality be the Ethiopian podcasts, and YouTube channels. www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 Advertisement 25

www.capitalethiopia.com 26 Year 23, No. 1149 Sunday Dec. 13, 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.

TRADE FACILITATION Thirteen Extra Ordinaty Session on the African Continental Free Trade Area (AfCFTA): The Assembly of the Union adopts decision on the start of trading

frican Union Heads of State and meaningful integration into the global of this remarkable progress would have African Union Member States become Government have underscored economy. The AfCFTA will also improve been achieved without the unwavering state parties to the AfCFTA Agreement. the urgent need for member the prospects of Africa as an attractive leadership and commitment of H.E. The Assembly also commended H.E states to kick-start trading investment destination. It will help President Mahamadou Issoufou, the Nana Addo Dankwa Akufo-Addo and Aactivities, under the African Continental advance the empowerment of Africa’s Champion and Leader of the AfCFTA”. the people of Ghana for offering to host Free Trade Area (AfCFTA). The decision women, by improving women’s access SG Wemkele called on AU Member the secretariat of AfCFTA in Accra thus, was adopted during a virtual meeting of to trade opportunities which will in turn States to aggressively implement the fulfilling the African dream. The Heads the 13th Extra Ordinary Session of the facilitate economic freedom for women, AfCFTA as one of the tools for effecting a of State further commended the role Assembly of the Union on the AfCFTA, and expand the productive capacity of fundamental structural transformation of played by all Member States, the African held on Saturday 5 December 2020, countries. “To support this, we must Africa’s economy and placing Africa on a Union Ministers of Trade (AMOT) and under the Chairmanship of H.E. Cyril strengthen women’s participation in the path of long term industrial development. other AfCFTA Negotiating Institutions, Ramaphosa, President of the Republic continental economy by ensuring there He said. “women in trade, young the African Union Commission (AUC), of South Africa and Chairperson of the is greater public procurement earmarked Africans and SMEs, confront significant the Regional Economic Communities African Union (AU). The summit is for women-owned businesses. We must challenges when attempting to benefit (RECs) and the AU cooperating partners, taking place just four weeks before the ensure that there is sufficient support from trade agreements”. Adding that, for for the significant progress made in AfCFTA commences trading on the 1st given to women-owned SMMEs and the AfCFTA to be inclusive and to ensure advancing AfCFTA negotiations. They of January 2021, to consider the adoption cooperatives in both local and regional shared growth across the continent; congratulated all the countries that have of the legal instruments that will facilitate economies” Emphasised Chairperson women, young Africans and SMEs have deposited their instruments of ratification its operation. Ramaphosa. to be at the heart of its implementation. of the AfCFTA Agreement, and called Welcoming all the participants to the 13th H.E. Mr Moussa Faki Mahamat, (See complete speech of SG Wamkele on those member states that have not yet Extraordinary Session of the Assembly of Chairperson of the AU Commission on Mene on the AU website: www.au.intt) ratified the Agreement to do so as soon as possible in order to increase the size of the Heads of State and Government of the his part expressed satisfaction on the Worth recalling that it is the AU African Union, Chairperson Ramaphosa millstone achieved in the implementation the market and the volume of trade under Assembly Decision adopted at its 33rd the AfCFTA. said “today we stand on the cusp of a new of the AfCFTA. He said it is the fulfilment Ordinary Session held in Addis Ababa, era in the progress of our continent. of the dream long aspired by the founding Ethiopia, on 9th – 10th February, 2020, The Assembly finally deliberated that the fathers of the Organisation of African exchange of tariff concessions between The moment that we have all been that recommended the holding of this Unity (OAU), who have always wanted State Parties will be conditioned by working painstakingly towards has 13th Extraordinary Summit to approve to create an African common market. the principle of reciprocity in terms finally arrived…We are all filled with a all instruments required for the start of of product line coverage, and tariff great sense of pride at how far we have Moussa Faki noted that, for this dream to trading under the AfCFTA. During the reduction schedules that are aligned with come to reach this moment”. finally become a reality, this continental meeting, the Heads of State expressed their project had to go through several stages. appreciation to the report presented by the agreed modalities. They endorsed The AU Chairperson further recalled the the declaration on the Risk of Investor- First was the signing in 1991 of the H.E. Mr. Issoufou Mahamadou, President collective journey embarked upon over State Dispute Settlement (ISDS) with Treaty establishing the African Economic of the Republic of Niger, the leader and four decades ago, with the adoption of respect to COVID-19 pandemic related Community, followed by the signing in Champion of the AfCFTA, and adopted the Monrovia Strategy in 1979, followed measures, as adopted by the African March 2018 in Kigali, Rwanda, of the the recommendations thereof on the by the Lagos Plan of Action in 1980, the Union Ministers of Trade (AMOT), and Agreement establishing the AfCFTA, progress achieved on the establishment of Abuja Treaty in 1991 and the subsequent the establishment of the African Business during which 44 countries signed the the African Continental Free Trade Area Decisions and Declarations adopted Council (AfBC) which is part of the Agreement, and it is with great satisfaction (AfCFTA). They requested the AfCFTA during previous Summits relating to the Architecture of the AfCFTA. that in record time 34 countries have leader and Champion to continue his economic development and integration ratified the legal instrument on the efforts to ensure that all fifty-five (55) (APO Group) of the African continent. “And now, we AfCFTA . This, the AUC Chairperson are about to witness the realisation of one said, shows the determination by member of the flagship projects of Agenda 2063.” state to quickly achieve the economic Stated the Chairperson of the Union, with integration of the continent. (See complete great relieve. Morocco reiterates full speech of the AUC Chairperson on the AU “Throughout this process, we have website: www.au.int) stood united, with 55 sovereign AU Speaking from the headquarters of the Member States rallying together, despite AfCFTA Secretariat in Accra, Ghana, the support for African free different levels of economic development Secretary General of AfCFTA, Wamkele and diverse strategic priorities. The Mene stressed that integrating 55 markets commencement of trading under the will not be easy but giving up is not an trade area AfCFTA on the 1st of January 2021 is option. He recalled that in August 2020, the one of the most significant milestones in Government of Ghana officially handed the continental integration project”. Noted orocco voiced its full support for the African Continental Free over the AfCFTA Secretariat building to Trade Area (AfCFTA) as a lever of African integration and a the AU Chairperson. He underlined that, the AUC Chairperson, H.E. Moussa Faki this is going to be the clearest affirmation development trigger, Minister delegate in charge of African Mahamat. Reiterating that, H.E. President affairs said. that Africa is determined to take charge Akufo-Addo has given his full support of its own destiny, and that its success MMorocco spares no effort to materialize the AfCTA on the ground, Mohcine and is committed to see the AfCFTA and development is fundamentally tied to truly commercially start off trading by Jazouli told an African Union meeting held by video conference. harnessing the potential and energies of the announced date of 1st of January He recalled that King Mohammed VI had underscored Morocco’s commitment her citizens. 2021. “Today, 54 countries have signed to promote an intra-African cooperation based on economic solidarity. According to President Cyrl Ramaphosa, the agreement while 34 countries have In this respect, boosting intra-African trade would help promote integration, the AfCFTA will boost intra-African deposited their instruments of ratification, reinforce competitiveness, create jobs and give a push to African industrialization. trade, it will promote industrialisation and 41 countries/customs unions have and competitiveness and contribute to submitted their tariff offers, including Morocco signed the AfCFTA on March 21, 2018, in Kigali as it pushes ahead job creation, and it will unleash regional the EAC and ECOWAS” underlined the with an African policy based on win-win partnerships and African solidarity. value chains that will facilitate Africa’s AfCFTA SG. He however noted that, none (North Africa Post)

www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 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.

OPINION “When we find researches/opinions from other publishers that might interest you, we pass them along. Below you'll find the latest opinions on why the success ofAfCFTA Depends on KAGAME: Africa’s Ability to Combat Corruptionby Dike Onwuamaeze. Their opinions may differ from what you read in CFTA.Now. This article first appeared on This Day. Africans must The President of the African Export and Import Bank leaves the continent as illicit capital flow. Most of these (Afreximbank), Prof. Okey Oramah, has anchored the illicit flows stem from the proceeds of corruption. success of the African Continental Free Trade Area “Between 2000 and 2015 the total illicit capital flight from connect easily (AfCFTA) on the ability of the continent to stem the tide of Africa amounted to $836 billion compared to Africa’s total corruption and illicit financial flows. external debts stock of $707 billion 2015. Oramah, made this point when he presented the keynote “A one point increase in corruption decreases the growth despite Covid-19 address at the virtual 2020 Africa Business Ethics Conference rate of the GDP between 0.75 per cent and 0.9 per cent per with the theme: “Tackling Corruption to Reduce Poverty and year. And per capita income growth rate between 0.39 and Unemployment in Africa: A Necessity for Building Resilience to Global Risks,” which was organised by the Lagos Chamber 0.41 percent respectively.” pandemic of Commerce and Industry (LCCI) in partnership with the According to the President of the LCCI, Mrs. Toki Centre for International Private Enterprise (CIPE). Mabogunje, who delivered the welcome address, the President Paul Kagame on Tuesday, December 8, made Oramah, who was represented by the Director of conference was meant to promote conversations that would the case for continued collaboration among African Compliance, Afreximbank, Mr. Idris Diop, said: “In the provide solutions in addressing corruption as a strategic countries, which he said will be critical for the continent continental free trade areas, Africa is arming itself with approach in reducing the high incidence of poverty and to emerge from the current Covid-19 period in safety tool for future prosperity. However, the success of the unemployment across Africa. and prosperity. AfCFTA is obviously partly dependent on the continent’s Mabogunje said: “Corruption is one of the biggest The head of state was speaking virtually at the Kusi ability to combat corruption and illicit capital flow to ensure developmental challenges facing African economies. Ideas Festival, 2020 Edition, which is currently availability of resources and infrastructure.” African economies cannot bear the increasing cost of underway in Kenya. He added that in its 2020 report on economic development corruption, which impedes socioeconomic development The two-day meeting brought together high ranking and minimises the capacity of African governments to lift in Africa, the United Nations Conference on Trade and officials including Kenya’s President Uhuru Kenyatta, their citizens out of poverty and create opportunities for the Development (UNCTD) explained that stopping illicit as well as Kenya’s former Prime Minister Raila Odinga. capital flight, “will almost cut by an half the annual financing low-income segment of the society. Founded by the Nation Media Group, the Kusi Ideas gap of $200 billion that the African continent face as it strives “According to the Transparency International, 43 percent Festival is an annual international conference that seeks to attain the Sustainability Development Goals. of Africans are living in poverty while over $50 billion to build a “Pan-African ideas transaction market” to “It is estimated that every year 3.7 per cent of Africa’s GDP worth of stolen assets flow out of Africa every year.” capitalize on the opportunities and innovations available IN THE NEWS to Africa to help it win the 21st Century. Rwanda hosted the first edition of the Festival in December 2019. Ugandan manufacturers threaten This year’s conference is being held under the theme; “Towards a Post-Covid Africa: Recovering Together”. Kagame noted that there has been a lot of speculation about why Africa is handling the Covid-19 pandemic to sue Kenya over trade barriers better than expected. “What really matters is that lessons we have learned and Kenya has not responded to threats from the Uganda business.” the solutions we have applied will help us to recover Manufacturers Association to take the country to the Mr Birungi said poultry products, liquid petroleum gas together,” he said. East African Court of Justice to get redress on “unfair canisters and sugar are some of the locally manufactured The head of state stressed the importance of collaboration trade practices”, which the association claims its own products being denied access to the Kenyan market. government is abetting. among African nations, citing the African Continental Under the EAC Common Market Protocol, free movement Free Trade Area which is supposed to enhance intra- In a statement released on Thursday, UMA, the umbrella of goods and services is guaranteed across the borders. association that brings together Ugandan industrialists and Africa trade as an example. manufacturers, said that Kenya has barred a number of its “Despite persistent trade distortions orchestrated against “We have to make this a reality by staying on track with exports from accessing Nairobi. Uganda, the country’s exports to Kenya had been increasing the African Continental Free Trade Area and everything exponentially until 2017, when Uganda managed to report else we have aspired to do together,” he said. UMA says Kenya is questioning the origin of Uganda’s for the first ever trade surplus with Kenya,” UMA says in products, even those with valid certificates of origin. the statement. “We will only get there if we harness the power of technology,” he added. The association says there are baseless claims that their “Since then, Kenya has intensified non-tariff barriers products are counterfeit yet they bear the “Q” mark issued with fears of possible takeover of the trade balance of Kagame highlighted that in East Africa, countries by the Uganda National Bureau of Standards. power. Such acts contradict the EAC Common Market possess the natural talent to create innovative solutions 'Baseless claims' commitments,” said Mr Birungi. that will generate wealth for the growing population. The list includes claims that goods from Uganda are smuggled UMA says barring some Kenyan products from accessing “We must find new ways to invest in infrastructure, in into Kenya hence evading taxes; that Kenya has instituted Ugandan markets will act as a wakeup call. our people and in an enabling political and business environment”. permits that water down the EAC Common Market through Unfortunate situation unilateral restrictions against Ugandan-originating goods; Kagame shared Rwanda’s experience saying that, “In Uganda’s Commissioner for External Trade at the and that there is structured and institutionalised harassment Rwanda, we have learned that progress comes from Ministry of Trade, Industry and Co-operatives Emmanuel of Kenyan traders and dealers in Ugandan-originating goods, ensuring participation and inclusivity.” especially poultry, milk and sugar. Mutahunga described the situation Ugandan manufacturers are grappling with as “unfortunate”, saying it is a prevalent The head of state commended the festival saying that it In their statement, the manufacturers have also threatened problem across the EAC member states although it is continues to be stimulating and inspiring for the entire to bar Kenyan goods from entering Uganda, and if the against the integration spirit and commitments. region. matter is not resolved by end of December 2020, they will seek redress at the East African Court of Justice (EACJ). Kenya is one of Uganda’s largest trading partners. Kenyan He also pledged Rwanda’s support towards the exports into Uganda have increased from $1.1 billion in homegrown African initiative. When contacted, Kenyan Cabinet Secretaries from the 2017 to $1.2 billion in 2018 and 2019. Ministry of EAC and Regional Development Adan This year’s edition of Kusi Ideas Festival was held in Mohamed and his Trade counterpart Betty Maina declined The threats by Uganda could have far-reaching the form of a hybrid in-person and virtual conference to comment on the matter by the time of going to press. consequences to the trade and trade balance between the and specifically examined the impact of the Covid-19 pandemic on African economies and livelihoods. “Kenya has always benefited from both access to cheap two EAC neighbours. Ugandan raw materials and fresh produce for their agro– UMA further says in its statement that the Kenyan market Other Rwandan speakers at the high level meeting processing industry and market for finished products,” the situation is not helped by Tanzania’s incessant tariff included Dr Sabin Nsanzimana, the Director General of executive director of UMA, Daniel Birungi said at a press changes, which also breach the EAC common market Rwanda Biomedical Centre, Clare Akamanzi, the CEO conference on Wednesday. commitments. The manufacturers say the standoff between of Rwanda Development Board, Shivon Byamukama, “And in the spirit of the regional integration and the fact Kampala and Kigali too has effectively shrunk Uganda’s the Managing Director, Babyl Rwanda and Nathalie that we have common history and aspirations, we expect market share in the region. Munyampenda, the CEO of Kepler. Kenya to return the favour and not make it difficult to do (Daily Monitor) (The New Times) www.capitalethiopia.com 28 Advertisement Year 23, No. 1149 Sunday Dec. 13, 2020

www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 Advertisement 29

AFRICA INSURANCE COMPANY (S.C) In compliance with Article 33/2(b) of Proclamation No. 746/2012 and Directive No. SIB/38/2014, the Statement of Financial Position and Statement of Comprehensive Income of Africa Insurance Company (S.C) for the year ended June 30, 2020 is hereunder published for public information.

www.capitalethiopia.com 30 Year 23, No. 1149 Sunday Dec. 13, 2020

BEST OF INTERNATIONAL No. MOVIE TITLE DOMESTIC GROSS RATE GROSS 1. The Croods: A New Age $20,340,265 $60,002,265 7..4 2. Half Brothers $700,160 $700,160 7.4 3. Freaky $7,755,950 $13,323,950 6.1 4. All My Life $370,315 $1,100,315 6.1 5. Elf $1,103,568 $1,210,744 6.9 6. The War with Grandpa $17,621,195 $26,126,426 5.5 7. Come Play $8,975,695 $11,093,059 5.8 8. Let Him Go $9,025,005 $9,952,005 6.7 9. Honest Thief $13,824,120 $27,827,510 6.5 Sudoku 10. Die Hard $189,000 $189,204 8.2 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. HALF BROTHERS lavio’s story about coming to America to find work is an infinitely more compelling story than the boy’s bickering road trip. He discovers a cruel immigration system, racism against Mexicans, Fand at first, very little money. But he also finds his way into opportunity and the kindness of others. Unfortunately, his tale is told in stop-and- go fragments as his sons piece together his journey. Sitting in the car with the half brothers of the movie is just short of punishing. Separately, they’re pretty rough to tolerate on their own. Renato has the makings of a low-grade socio-path, thinking only in unfeeling logic and unsympathetic to anyone he perceives as lesser than he is. Asher is by all accounts a stand-in for all the terrible stereotypes about Americans. He’s entitled, rude, lazy, hasn’t a work ethic in sight and talks for hours without saying anything at all. In short: he’s Renato’s antithesis. But instead of the Odd Couple-like match-up working as comedic fuel, it sputters. Espinosa and Del Rio have little to build on than their characters’ flimsy outline, and neither can really make their rapport work.

Half Brothers All My Life Die Hard Dear Santa The Godfather Director: Luke Greenfield Director: Marc Meyers Director: John McTiernan Director: Dana Nachman Director: Francis Ford Writers: Ali LeRoi Writers: Todd Rosenberg Writers: Roderick Thorpl Writers: Dana Nachman Writers: Mario Puzo Genre: Comedy Drama Genre: Drama Romance Genre: Action Thriller Genre: Documentary Family Genre: Crime Drama

Running Time: 1hr 36min Running Time: 1hr 33min Running Time: 2hr 12min Running Time: 1hr 24min Running Time: 2hr 42min

www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 31

CROSSWORD PUZZLE ACROSS 37 Nation s. of Canada DOWN 29 Letter before tee 38 Movie industry, 31 For hours __ (nonstop) 1 Female sibling, for slangily 1 Japan's raw fish 32 Partner of neither short 43 Electric fan's slowest 2 One asking questions of 4 Visit a store setting applicants 34 Book of maps 35 Taking little time 8 Bugs Bunny adversary 44 Bad weather for golf 3 Male deer Fudd 39 Guys from Dublin 45 Supervisor 4 Tiny 13 Baseball batter's 46 ''__ we having fun 40 Run out, as a 5 ''Stop right there'' lightly hit ploy yet?'' subscription 6 Oil cartel 14 Sulk 47 Apple's tablets 41 Through, on an itinerary 15 Annoyance that may 49 Evergreen tree 7 Money in Mexico 42 Slugger's stat, for short be ''pet'' 50 Emphasize 8 With a new show in the 48 Precisely accurate 16 ''¿Cómo __ usted?'' 52 Apple-lled dessert series each week 17 Pub beverages 49 Aladdin's tasseled hat 54 A great distance away 9 Resulted in 18 Just sat around 51 Piano practice piece 57 Ancient period when 10 Brooks or Gibson of lms 19 Upscale waterside alloys originated 53 Without any skill region 11 December 24th or 31st 61 Play guitar with your 55 ''One more time!'' 22 What lls basketballs 12 Color of a Santa suit ngers 56 Country singer McEntire 23 Arabian Nights guy 64 Repetitive learning 13 __ carotene (vitamin A __ Baba 58 ''Spoiled'' kid 65 Tell a secret source) 24 Enclosures for voting 59 Tug-of-war cord 66 Avoid capture by 20 High-ber grain 28 Doggie doc 60 Online auction site 67 Each, informally 21 Aids and __ (helps in a 30 Improved, as one's crime) 61 Caribbean, for example muscles 68 India's continent 62 HD sets in dens 33 Use oars 69 Colorado ski resort 25 Two-choice test format 63 Sharp door knock 34 Without a warranty 70 Canvas shelter 26 Hydrant attachments 36 ''It wasn't me'' 71 Japan's money 27 Graceful lake birds Solution: see below

WEEKLY HOROSCOPES

Aries Cancer Libra Capricorn You may be in touch with your feelings Take with good humor any This is a lucky period for work-related You may be feeling unusually to an unusual degree now. This can misunderstandings or confusion you travel, making useful contacts, and sentimental now. It will be easier make you very effective at selling an idea or experience. Things aren't as serious as getting in touch with people who support your to release any resentment or work-related product to others. You can build morale if you're a they may seem. You could be distracted by an office career interests. You won't easily tolerate being idle. disappointment. You may feel unusually protective sympathetic listener. It may be difficult to decide if flirtation that may not be in your best interests. Any Optimistic and adventurous types are a very positive or nurturing toward co-workers and want to help you're making progress or going backward. Just do tendency toward stubbornness can limit your options. influence. You may feel stressed by conflicts between them in any way you can. Get as much done as your best. Try innovative approaches. This period The more relaxed you are, the better. Accept what family and job commitments. These are ideal days to possible early in the day. In business, anything to is lucky for any new start or making contacts to might seem like criticism with an open mind. You may exchange ideas with others. The energy of the day do with food, family, or tradition will enjoy a boost. improve your job prospects. need extra rest now. Stick to a simple schedule. encourages you to expand. Think big. Focus on making practical improvements.

Taurus Leo Scorpio Aquarius Your creative energy is strong now. The This is a positive time to work as a This period can bring distractions on the This period encourages positive more you share your ideas, the better the group leader. You'll understand what's job. You may feel like chatting with co- communication. You'll be especially results you can expect. It's possible to work needed and find win/win solutions, often workers rather than working. Pleasant effective presenting your point of view or and have fun. Avoid dwelling on past mistakes or taking by talking others around to your point of view. Your conversations that don't really accomplish anything selling something as long as you avoid high-pressure criticism too personally. Learn your lesson and move ability to communicate excitement encourages action. can make the time fly. This is a good time for a break. tactics. People want to have fun now, and you can on. Confusion comes from hidden agendas. Are co- This period is ideal for traveling or sharing good You'll feel very affectionate toward loved ones now. take advantage of this energy, too. It's an ideal time to workers being honest with you? Be sure everyone clearly times with the family. Invite any lonely co-workers to A need to support or protect the family can push you recognize the contributions of others. Jobs connected understands any communication. Co-workers who feel partake of the fun. This time is excellent for reviewing to do work you'd rather not do. This period can bring with food or caregiving will enjoy a boost in energy like family bring positive energy and moral support. and organizing paperwork. conflict if you take something personally. now. This is not the train you are meant to be on.

Gemini Virgo Sagittarius Pisces Don't hesitate to move in a new and You can easily stay focused now. Work These are high-energy days that will You're likely to be juggling the interests innovative direction. Communication as hard as possible, because events will see you at your most happy-go-lucky of family with work obligations. Do your on the job may be more emotionally distract people later. You may be irritated and optimistic. You can shine in best to stay organized and keep everyone charged now. These are positive days for a careful by anyone not working as hard as you are. Idle talk any area that allows you to teach or express your informed if your schedule changes. Enthusiasm, review of financial details. This is a powerful time on the job can have you seething inside. This is a opinions. Work-related travel is also favored. This skill, and confidence will help you make a positive for ambitious projects. Communicate clearly what positive time for any caregiving tasks or food service period brings a strong focus on home and family. If impression. Unusual people who are very different you want to accomplish. Don't be afraid to try things occupations. You shine at important service jobs that you're in a supervisory position, be careful that you from those you usually work with could come into your that push the limits of your potential. Family and co- other people underrate. This time is favorable for aren't too demanding or limiting anyone's freedom. life. Be open to new approaches. This period is lucky workers will support your plans. networking and marketing plans. Discipline isn't your strong suit. for taking a break with those you love. Crossword Solution

www.capitalethiopia.com 32 Year 23, No. 1149 Sunday Dec. 13, 2020

COVID-19 precautions in place as Great Ethiopian Run prepares for the 20th edition Registration ends in a day

Great Ethiopian Run race organisers have announced plans to stage the 20th edition of the race on the new date of Sunday 10th January 2021, eight weeks later than originally planned. The delay was enforced by the global COVID-19 pandemic, but organisers are now confident that they will be able to stage the race employing a raft of measures protecting participants from the virus. Participant numbers for the race have been limited to just 12,500, almost 30,000 fewer than the number that completed the race in November 2019. The participant limit follows a directive given by Ethiopia’s Ministry of Health that total participant numbers should not exceed 25% of projected maximum capacity. The organizers also announced that the registration ended on Saturday December 12 a day after it started on Friday December 12. The first 200 registrants will receive a free training t-shirt as an incentive to register early. In addition to the race being staged from Meskel Square in Addis Ababa, participants around the world will be able to take part in a virtual 10km run. Many charity runners who normally come to Ethiopia to participate in the race are expected to join the run virtually. The 20th edition race will employ a wave start with the waves setting off in 15-minute intervals. Each wave will be segregated into smaller groups of runners not exceeding 1000 to allow for distancing by participants as they line up before the start. All participants will wear a race number with a letter of the Ethiopian alphabet which will correspond with their start position. The wearing of masks will also be mandatory at the start and after participants exit from the finish. Masks will be given out at registration. Temperature checks will also be carried out as participants arrive at Meskel Square. The finish for this year’s race has been moved to Atlas Hotel in Bole. The race once again boasts an impressive list of sponsors headed by Total as the headline sponsor. Also sponsoring the race are Ethiopian Airlines, Malta, Amole, Bird Life Africa, Tourism Ethiopia; Indomine; Hyatt Regency Addis Ababa, Arki, and SAS Pharmaceuticals. Betking Ethiopian premier league new season opens over the weekend amed after the sponsor the weekend, popular side Ethiopia it takes place behind closed doors. All anticipated faceoff between Bahirdar Betking, Betking Ethiopian Bunna entertains visitors Wolkite Ketema Fifa and Caf Covid19 Health procedures Ketema and Sidama Bunna. Busy in Premier League, the Ethiopian while Jimma AbaJifar faces Adama including tests for players and referees signing number of big name players top tier new season is going Ketema in season opening Oromia derby are said to be carried out strictly. Bahirdar is favorite to go home with toN be a 13 teams two rounds fixtures match at Addis Ababa stadium. Nearly all three points for Sidama Bunna is no following the absence of the three Tigray a year since the football standstill due On the other season opening fixtures on more to get the service of their renowned region football flag bearers Mekele to Covid19, football fans are anxiously Monday Wolaita Dicha meets regional goal machine Addis Gidey who joined St SabaEnderta, Sehul-Shere and Welwalo awaiting the return of the sport although rival Hossana followed by a much George in a two years lucrative deal. Adigrat due to the current political situation in the country. According to the newly announced 61 qualifiers for the Olympics, 11 national records statement of the League Committee the three clubs top tier spot will be reserved for the 2021 league season therefore three and 77 personal bests in ‘The Great Race of 2020’ teams are going to be relegated and three teams from Super League to be promoted he results of the Valencia times in its streets by male and female marathon, in addition, saw a new Spanish at the end of the current season. Marathon and Half Marathon athletes allowing them to be able to record, along with records for athletes Following the new developments a Trinidad Alfonso EDP Elite attend the Tokyo Olympics in 2021. from a further eight countries in both the special transfer window already opened Edition confirmed that it was the Without doubt a demonstration of the men's and women's categories. for the players from Tigray who wants to T‘Great Race of 2020’ going even further international strength on display in the join other teams in a one year contract. than the world half-marathon record 42,195-metre race this year. As if all this was not enough, in Valencia on 6 December, a total of 77 athletes In line with that many players including (57:32) and the impressive new personal On the other hand, a total of 11 athletes achieved a personal best, which confirms recent seasons revelation former Mekele best times for the winners in the marathon achieved different national records that, without a doubt, this was THE goal machine Amanuel G/Michael and in both the men's and women's categories, between the two races, with the clear former Mekelakeya striker Menyelu after becoming the third fastest marathon highlight being the new world record set ‘Great Race of 2020’, along with the Wondemu signed deals with different in the world and achieving the seventh by Kenyan Kibiwott Kandie and the best annual World Athletics' ranking putting sides. Fasil and Baherdar Ketema are best men's time ever (2h03:00) and fifth time by a Ugandan runner in the half- Valencia ahead of London and Tokyo, said to be major beneficiaries of the latest in the women's category (2h17:16). marathon, in a race that saw four runners thanks to its excellent results this year. In development. And, in addition, last Sunday, Valencia below the historical 58-minute barrier fact, 10 of the 15 fastest times this year With the new season to be opened over City of Running saw up to 61 qualifying (and eight runners under the hour). The were run in Valencia.

www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 Advertisement 33 Forget about Industrially . . .

Continued from page 2 it’s not unconnected, either. thinking autonomy of the child/investor/ So yeah, we want to be active participants citizen. But that’s not what the Nudging JOB VACANCY DESCRIPTION in our children’s lives, and that’s why we State and the Nudging Oligarchy have in mind. They don’t want education. They homeschool. Not to shield them or isolate Category:...... Health Care them from reality, but to be there for want training. The Nudging State and the Bahir Dhar, with frequent travel to Benishangul Gumuz. them as counselors and teachers as they Nudging Oligarchy want to train you like Location:...... confront reality. And not just to be there Haven trained her mustang. They want to Career Level:...... PhD for them when mass society allows us, turn you into Clever Hans, an intensely Senior Level:...... (8+ years experience) other-regarding animal who welcomes when it’s our turn during the work week Employment Type:...... Full time to take responsibility for our own kids, the saddle. Because once you’re trained Negotiable according to candidate but to embrace that responsibility all of to welcome the saddle, you’re going to Salary: ...... the time. Because it is our responsibility take the bit. Deadline:...... 17/12/2020 all of the time, no matter how much mass The playbook of the Nudging State and Job Description: society facilitates and nudges us into the Nudging Oligarchy is always the partially abdicating that responsibility so same - put a compelling Narrative around The manager candidate for Stronghealth project will responsible for leading and that we can work longer and longer hours some Industrially Necessary System and coordinate Soil transmitted helminths, including Strongyloides stercoralis activities in service to the Nudging State and the train humans who use that system into and operational research-related projects. She/he is going to be in charge of Nudging Oligarchy. some version of Clever Hans. 99 Managing and supervise laboratory diagnosis protocols and staff, I know that homeschooling isn’t for It’s clearly the playbook for our modern 99 Infectious diseases treatment. everyone. I know that homeschooling is markets, where we are trained by the 99 National control program management/update impossible for most. I know that when I Nudging Fed and the Nudging Street. 99 Oversee their implementation against the major parameters of time, say “we homeschool” it is entirely a royal We are Clever Hans, dutifully hanging quality, and efficiency. we, where my wife shoulders 99% of the on every word and signal from Janet burden. But I also know that you don’t or Mario or Goldman or Merrill as we Duties and Responsibilities: have to homeschool outright to be a truly stomp out our investment behavior. ¾¾ Developing technical proposals in the area of soil transmitted helminthiases, active and engaged participant in your It’s also the playbook for our modern including S. stercoralis; child’s education. Everyone can do that. politics, where we are trained by the ¾¾ Planning, directly executing and monitoring the activities Engaging actively in our children’s Nudging Parties and the Nudging Media ¾¾ Managing/organizing data collection tools education has given us two great gifts. Oligarchs. We are Clever Hans, dutifully ¾¾ Developing origin/justification reports, producing quality research report and First, the stress level in our family hanging on every word and signal from final reports; evaporated the day we got off the Donald or Bernie or Fox or WaPo as we industrially necessary schedule of the stomp out our voting behavior. ¾¾ Developing research proposal related to soil transmitted helminthiases, school and onto the organically beneficial In all of these Industrially Necessary including S stercoralis; schedule of the child. Imagine if you Systems - schools, markets, and politics ¾¾ Organizing, and managing the laboratory related to soil transmitted suddenly found three or four hours of - recognition and critical thinking is helminthiases, including S stercoralis; (stockable and non-stockable needs, new time every day. Imagine how that the antidote to Clever Hans Syndrome, purchasing, commercial contacts) would reduce the stress in your life, and and active engagement is how you ¾¾ Accessing and preparing literature review; Analyzing papers of international now think about giving that gift to your administer the medicine. What do we impact across the thematic area child. Even if you can’t escape entirely DO about our Hollow Markets and our ¾¾ Preparing project evaluation guidelines, standard operative procedures and the scheduling clutches of the Industrially Broken Politics? quality assurance procedures; Necessary School, simply recognizing 1. Actively engage with yourself ¾¾ Evaluating the projects progress; how much of your child’s schedule is to recognize how many of your institutionally nudged on you and them behavioral choices in the world of ¾¾ Developing innovative approaches rather than educationally required of you investing and politics aren’t a free ¾¾ Attending scientific and management meeting in Europe, Argentina and Africa and them will change everything. choice at all, but are instead derived (Fluent in English, Spanish will be highly valuated; French fluency will be very Second, we were able to inject a program from a clever “choice architecture” positively valuated) of critical thinking and critical speaking imposed by others. You probably Required skills into our children’s curriculum, what a won’t change your behavior. That’s classical education would have called kinda the point of these pleasantly ¾¾ Being medical doctor, with a specialization in a European university hospital in Rhetoric and modern education calls skinned Hobson’s Choices - they’re an internationally recognized University Debate. I dunno … I never did Debate in offers you can’t refuse. But the day 99 Family doctor and laboratory specialization will be highly valuable. high school, and my prior was that this you recognize the choice architectures 99 Having more than one specialization will be very positively evaluated. was impossibly nerdy and more than a that enmesh us is the day you start ¾¾ Research background: little silly. I could not have been more making true choices. It’s the day you wrong. Our girls can think on their feet. start thinking and reading differently. 99 PhD in parasitic diseases achieved in an International recognized University, Our girls can stand their ground. Our girls It’s the day that everything starts to 99 Statistical training on medical methodology research in an International can make a persuasive argument, and they change for yourself, your family, and recognized University can recognize how others try to persuade your clients. ¾¾ Experience on technical assistance on health projects execution, them. My favorite part of a critical 2. Actively engage with yourself to ¾¾ Participation on research projects in Europe thinking/writing/speaking education? create a critical thinking curriculum 99 Participations in projects in Africa and Europe will be highly valuable Our girls have demolished hundreds that adds to your reservoir of free- of smarter-than-thou mansplaining-in- thinking autonomy. Read more ¾¾ Teaching background, training boys in debate competitions history. Read more biography. Read 99 particularly in International recognized universities around the country. What does a more science fiction. Every day. 99 College lecturer in a European university curriculum of critical thinking/writing/ Watch a lot less CNBC and CNN 99 Tutor for students of the specialization of microbiology and parasitology speaking look like? It looks like girls and and Fox and all the rest. I know we boys of different ages and backgrounds, can’t wean ourselves from Facebook ¾¾ Experience on leading scientific papers published in journals of impact factor all practicing and competing on an equal and Twitter. It’s our bottle and we’re 99 Specifically in the area of Soil transmitted helminthiases and very footing in a battle of research and wits addicted. I am, too. But take the time particularly in strongyloidiasis will be highly valuable - now there’s a socialization we can all to listen to someone whose political 99 Other papers support! or market views you emotionally ¾¾ Being member of scientific groups, And here’s the kicker. Our girls are dislike and force yourself to see the now teaching these critical thinking and world through those views, not as an 99 Tropical medicine European societies critical speaking skills to those who have adversary but as another thinking, 99 Strongyloidiasis working groups a hard time raising their voice effectively feeling human being. Every day. ¾¾ Having regular assistance/participation in international scientific congress in in a Team Elite world, from middle Educate yourself, don’t train yourself. recent years schoolers in Bridgeport, Connecticut to 3. Actively engage with others to spread ¾¾ Having work experience in Ethiopia: minimum 8 years of work in partnership high schoolers in Malelane, South Africa the word. To educate, not to train. with governmental institutions, mainly Ministry of health. to prison inmates in California. What do We treat others as free-thinking 99 work experience in laboratories in Ethiopia will be highly valuable I mean when I say we need a Movement autonomous human beings, not as to change the world? This. manipulable objects. Never as objects, 99 Hawing work in the area of Bahir Dar previously, knowing authorities and What I’m describing is the difference even if it means losing the client or organization of reference laboratories in the area will be positively valuated between education and training. losing the election. This is how we fix ¾¾ Having experience in leading microbiology/parasitology laboratories in Education - whether we’re talking about things. Bird by bird. Voice by voice. European countries the education of a child, the education From below, not from above. As wise as serpents and as harmless as doves. To apply please send your CV and a brief cover letter to Human Resources of an investor, or the education of a Department [email protected] until December 17th 2020. citizen- is always additive to the free- What will your verse be? www.capitalethiopia.com 34 Year 23, No. 1149 Sunday Dec. 13, 2020

SUBREGIONAL OFFICE FOR EASTERN AFRICA (SFE) AND FAO REPRESENTATION IN RESUME ETHIOPIA, TO THE AFRICAN UNION AND THE Name: Manyazewal Eshetu UN ECONOMIC COMMISSION FOR AFRICA TEL (251-1) 647-88-88 FAX (251-1) 647-88-00, P. O. BOX 5536, Addis Ababa Education: Environmental E-Mail: [email protected] / [email protected] Internet: http://www.fao.org Engineering Title Company name: Man motivation, marketing and media ‘INVITATION TO BID SALE

Title: Founder and CEO OF USED FURNITURE

Founded in: 2017 AND EQUIPMENT’

What it does: Create motivational Reference : 2020/SFE/FRETH/EOI/002 STARTUP CAPITAL and educational content 0 Description HQ: Addis Ababa CURRENT CAPITAL The Food and Agriculture Organization is requesting 500,000 birr Expressions of Interest (EOE) from vendors for the Number of employees: 3 following: “SALE OF USED ITEMS AND EQUIPMENT”. Lot-1 Furniture, Lot-2 IT Equipment You are hereby BIG PICTURE PERSONALS invited to submit your offer, as per the EOI No. 2020/ SFE/FRETH/EOI/002. Reasons for starting the Most interested in meeting: Prior to coming to FAO compound and collect the bid business: To be a solution for the The best version of my self document, bidders has to deposit a non-refundable problem of humanity Most admired person: fee of ETB100.00 to FAO Sub Regional Office for Rophnan Nuri EA, Account number: 1000003015835 at Commercial Biggest perk of ownership: Bank of Ethiopia. Creating better generation Stress reducer: Praying and meditation To participate in the closed bid exercise bidders are Biggest strength: Self- expected to include a Bid Bond of 5% of the total bid awareness and unwavering belief on Favorite past time: none offered as a guarantee either in the form of a CPO or god and humanity Certified cheque at the time of bid submission. Favorite book: The power on To perform visual inspection bidders must adhere to the Biggest challenging: IFacing now by Ekhart Tolle old belief system and paradigm current Covid-19 emergency guidelines like; wearing Favorite destination: mask, using their own sanitizer and maintaining social Plan: Telling stories that will influence Everywhere I go distancing. the human spirit, mind and body Favorite automobile: Toyota Process First career: none Rav4 Public bid Pause the moment Contract type Letter of Award/Bill of sale

Procedure Sale of Used Item and Equipment Address CMC Road Near ILRI Compound, Bole Sub City, Kebele 12/13, PO Box 5536, Addis Ababa, Ethiopia, Tel: +251 11 6478888, Fax: +251 11 6478800 PULPIT ROCK (PREIKESTOLEN)

tourist attraction best suited for the active traveler thanks to the arduous Inspection and bid sale will start from, journey required to get there, Pulpit Rock A(Preikestolen) is nevertheless one of the most popular sights in Norway. Located near Wednesday 09 Dec 2020-Tuesday 22 Dec 2020 Stavanger, the destination requires ferry and bus rides and then a two-hour uphill hike to reach the almost perfectly flat-topped cliff, which looks over Closing date is Lysefjord, more than 600 meters above the water. Those visiting the Stavanger area will also want Tuesday, 22 Dec 2020, 12:30PM to stop by the surprisingly fascinating Norwegian Canning Museum, which is set up as the cannery was during WWII. Stavanger Cathedral is also a top tourist Bid Opening date is Wednesday attraction in Stavanger. This 12th-century structure features multiple styles, including a Romanesque basilica, a Baroque pulpit, and a Gothic font. Tuesday, 22 Dec 2020, 2:00PM www.capitalethiopia.com Year 23, No. 1149 Sunday Dec. 13, 2020 35 C l a s s i f i e d

EXCHANGE RATE 12-8-2020

CURRENCY BUYING SELLING CHINESE YUAN 5.3065 5.41263 KUWAITI DINAR 120.1347 122.537394 SOUTH AFRICAN R 2.5121 2.562342 EURO 46.4147 47.342994 SDR 55.1786 56.282172 UAE DIRHAM 9.4447 9.633594 SAUDI RIYAL 9.2488 9.433776 CANADIAN DOLLAR 27.0717 27.613134 AUSTRALIAN DOLL 25.6223 26.134746 JAPANESE YEN 0.3329 0.339558 KENYAN SHILLING 0.3437 0.350574 INDIAN RUPEE 0.5187 0.529074 NORWIGIAN KRONE 3.9225 4.00095 DANISH KRONER 5.643 5.75586 DJIBOUTI FRANC 0.213 0.21726 SWISS FRANC 41.0493 41.870286 POUND STERLING 48.5877 49.559454 SWIDISH KRONER 4.0963 4.178226 US DOLLAR 38.3371 39.103842

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