Ethiopia Leads by Example in Climate Action at COP29
Ethiopia and Jiangsu Forge Stronger Economic Partnerships for Shared Prosperity
Ethiopia- Russia Business Forum Held in Addis Ababa
Thousands Participate in Great Ethiopian Run International 10-Kilometer Road Race 2024
NEWS IN BRIEF
Ethiopia
In an address at the 29th Conference of Parties to the United Nations Framework Convention on Climate Change (COP29), on Wednesday (November 13), President Taye Atske-Selassie called for immediate and concrete action to address the global climate crisis. Highlighting the devastating impact of climate change on vulnerable nations, particularly in Africa, he urged the international community to move beyond rhetoric and embrace practical solutions. (See Article)
Prime Minister Abiy Ahmed inaugurated a state-of-the-art gold exploration and mining factory in Dima Woreda, Gambella Region of Ethiopia, on Wednesday (November 20). The Premier expressed optimism that Ethiopia could achieve a historic milestone by generating up to two billion USD in gold revenue this year.
The Premier also inaugurated last week on Saturday (November 16) the Federal Police Forensic Investigation and Research Center of Excellence. PM Abiy reflected during the event on the significant reforms the country has undertaken in the security and safety sector over the years.
In a briefing to the media on Tuesday (November 12), Minister of Finance Ahmed Shide highlighted significant progress in Ethiopia’s foreign exchange sector following the implementation of comprehensive macroeconomic reforms. (See Article)
Ethiopia and China came together at the “Belt and Road” Climate Mitigation and Adaptation Side Event at COP29 in Baku to discuss innovative solutions and partnerships for a sustainable future on Sunday (November 17). Ethiopia’s Minister of Planning and Development, Fitsum Assefa, shared the success of the Green Legacy Initiative, which has planted over 40 billion trees since 2019, boosting Ethiopia’s forest cover to 23.6 percent while creating jobs and uplifting communities.
The Jiangsu-Africa (Ethiopia) Economic and Trade Cooperation Conference was held on Thursday (November 14) in Addis Ababa. Co-organized by the Ministry of Foreign Affairs of Ethiopia and the People’s Government of Jiangsu Province, the conference brought together a high-profile delegation led by Jiangsu Governor Xu Kunlin, senior Ethiopian government officials, representatives from African diplomatic missions, and members of the business communities from both sides. (See Article)
Ethiopia-Russia business forum was held on Wednesday (November 13) at the Millennium Hall in Addis Ababa under the theme ‘Russia-Ethiopia: No Time to Wait.’ (See Article)
State Minister of Foreign Affairs, Ambassador Mesganu Arga, met with leaders of the Ethio-China Friendship Committee, commending their efforts to strengthen ties at his office on Friday (November 22). He urged increased Chinese investment in Ethiopia’s mining sector and emphasized the promotion of the country’s renowned coffee production.
Ambassador Mesganu held discussions with Mari-Cruz Evuna Andeme, the Secretary of State for International Organizations of the Republic of Equatorial Guinea, at his office on Thursday (November 21).
He also held discussions on Wednesday (November 20) with Ambassador of the United Arab Emirates (UAE) to Ethiopia, Mohamed Salem Al-Rashedi, at his office. The discussion focused on enhancing bilateral cooperation across various sectors.
Ambassador Mesganu also received Ambassador Alison Blackburne, the UK Special Envoy to the Horn of Africa and the Red Sea, on Tuesday (November 19). They discussed strengthening the partnership and collaboratively addressing regional peace and security challenges.
On the same day, Ambassador Mesganu held discussions with Philipp Stalder, the Assistant State Secretary of Foreign Affairs of the Swiss Confederation. Their talks focused on current national and regional issues of mutual interest.
Earlier this week, on Monday (November 18), the State Minister also met with Ambassador-Designate of South Africa to Ethiopia, Nonceba Losi, where they held discussions on peace and security of the region.
The 4th Ethiopia-EU Joint Working Group meeting on migration was held on Tuesday (November 19) at the Ministry of Foreign Affairs in Addis Ababa. The meeting underscored Ethiopia’s commitment to engaging productively with the European Union on migration and other matters of mutual interest.
The 24th edition of the Great Ethiopian Run International 10-Kilometer Road Race, organized in partnership with Ethiopia’s Ministry of Tourism, held in Addis Ababa on Sunday (November 17) under the theme “For Every Child, Nutrition.” (See Article)
The Chief Commissioner of Ethiopia’s National Dialogue Commission, Mesfin Araya, announced on Tuesday (November 19) the completion of the consultation process for gathering agenda items across 615 districts. This was said when the Commission presented its three-month performance report to the House of Peoples’ Representatives.
On the previous day, the Commission held discussions with the US Department of State’s Deputy Assistant Secretary, Vincent D. Spera. Deputy Assistant Secretary Spera reaffirmed the United States’ unwavering support for the success of Ethiopia’s nationwide dialogue process.
Ethiopian Airlines announced on Monday (November 18) that it had been recognized with the Four-Star Global Airline award at the 2025 APEX Passenger Choice Awards. Similarly, on Saturday (November 16), Ethiopian Cargo and Logistics Services won the “Best Cargo Airline-Africa” award at the Arabian Cargo Awards held in Dubai, UAE.
Ethiopia hosted the regional consultation for the Fourth International Conference on Financing for Development in Africa, which started on Monday (November 18). The event provides a platform for African stakeholders to align their views and craft a unified voice on financing development.
Ethiopia also hosted the 13th International Conference on Pulses and Oilseeds on Tuesday (November 19). The event, the largest of its kind in Eastern and Sub-Saharan Africa, has brought together international buyers, import associations, value chain companies, agro-processing industries, grain producers, traders, and exporters.
The Embassy of Japan in Ethiopia and the Japan International Cooperation Agency (JICA) celebrated 70 years of Japan’s international cooperation on Tuesday (November 19). Japan reaffirmed its unwavering commitment to strengthening its historic partnership with Ethiopia and supporting the nation’s development goals.
On the same day, Ethiopia and Japan signed an $11 million grant agreement to support Ethiopia’s development initiatives on Tuesday (November 19).
Eritrea
President Isaias Afwerki met with a delegation from the African Development Bank Group, led by Vice President Nnenna Nwabufo, on Monday (November 18) at the State house. The discussions focused on the current status and future prospects of development cooperation, including renewable energy projects and other government priorities.
Minister of Information Yemane Gebremeskel held talks with Sandra Macharia, Director of the UN Information Service in East Africa, on Friday (November 15). Their meeting focused on enhancing collaboration and information sharing initiatives.
South Sudan
On Friday (November 15), a South Sudanese delegation led by Minister Aya Benjamin Warille visited Ethiopia to learn about its social protection programs and held discussions with State Minister Semereta Sewasew.
Sudan
United States special envoy Tom Perriello met Monday (November 18) with General Abdel Fattah al-Burhan, the leader of Sudan’s ruling military council, to discuss a roadmap for ending the country’s conflict.
Africa and the African Union
The G20 Leaders’ Summit took place in Rio de Janeiro from November 18-19, during which the African Union actively participated. At the summit, the African Union emphasized the importance of social inclusion, economic growth, and sustainable development. It also endorsed the launch of the Global Alliance against Hunger and Poverty to address global inequalities.
Ethiopia Leads by Example in Climate Action at COP29
In an address at the 29th Conference of Parties to the United Nations Framework Convention on Climate Change (COP29), on Wednesday (November 13), President Taye Atske-Selassie called for immediate and concrete action to address the global climate crisis. Highlighting the devastating impact of climate change on vulnerable nations, particularly in Africa, he urged the international community to move beyond rhetoric and embrace practical solutions.
In his remarks, he stated:
“Under Azerbaijan’s leadership, we aspire to translate our Paris Agreement commitments into tangible actions. We must collectively reverse humanity’s trajectory of destruction and do justice to the victims of climate change, particularly vulnerable nations like those in Africa and small islands.
We cannot afford to be only rhetorical on climate action. Noting that the discourse on climate action begs more of politicization, technicalities, and shortcuts that should have been resolutely avoided, I wish to outline three best practices the Government of Ethiopia has employed to enhance our collective climate efforts.”
President Taye also underscored Ethiopia’s commitment to climate action by showcasing the following three successful key initiatives undertaken by the government.
The Green Legacy Initiative:
This ambitious program has resulted in the planting of 40 billion seedlings, increasing Ethiopia’s forest coverage to 23.6 percent and creating the potential to sequester 10 billion tons of carbon. The initiative’s success is further emphasized by the allocation of 1 percent of the national budget to the Green Legacy and Land Restoration Fund, demonstrating the government’s serious commitment. In this regard, the Head of State called for global support to scale up this impactful program.
Heat-Resistant Wheat Project:
Ethiopia’s development of heat-resistant wheat has resulted in an impressive increase in wheat production, yielding an additional 107 million quintals in just three years. This initiative has made the country’s food system carbon-negative while also enhancing the climate resilience of its crops. President Taye proposed this model as a replicable solution for other nations facing similar challenges, with the support of adequate financial and technical resources.
Renewable Energy Investments:
Ethiopia has made significant investments in hydropower and other renewable energy sources as part of its National Determined Contributions. These efforts have enabled the country to create a clean energy system that is measurable and implementable, showcasing its commitment to reducing reliance on fossil fuels. The President emphasized that Ethiopia’s renewable energy strategy serves as a model for the international community, highlighting the successful integration of regional energy grids and the reduction of dependence on food imports.
He also addressed the critical issue of climate finance, expressing concern over the complexity and slow pace of progress. He called for simplification of the process, urging the finalization and operationalization of the New Collective Quantified Goal on climate finance.
Furthermore, he stressed the importance of political commitment in driving climate action. He cited Ethiopia’s Nationally Determined Contribution, Long-Term Low Emission Development Strategy, and National Adaptation Plan as evidence of the country’s unwavering commitment to combating climate change. To translate this into practical action, Ethiopia has now become among the few nations in the world to pass a law banning non-electric private automobiles, among others, he mentioned.
President Taye concluded his statement with a powerful call to action, urging developed nations and major emitters to follow the lead of African nations that are setting an example in climate action. He emphasized the collective responsibility to “join hands to build a sustainable future for generations to come.”
Finance Minister Ahmed Shide Updates Public on Ethiopia’s Macroeconomic Reforms and Foreign Exchange Progress
In a briefing to the media on Tuesday (November 12), Minister of Finance Ahmed Shide highlighted significant progress in Ethiopia’s foreign exchange sector following the implementation of comprehensive macroeconomic reforms.
He provided an update on the government’s efforts to stabilize the economy and tackle challenges such as inflation, foreign exchange shortages, and public debt. Among the key reforms was the transformation of the foreign exchange sector, which included the adoption of a market-driven exchange rate, improvements to foreign exchange management guidelines, and the licensing of non-bank foreign exchange offices. These measures were implemented to address long-standing foreign exchange challenges.
The Finance Minister emphasized that following these reforms, the official foreign exchange rate has been implemented in a stable manner. Unlike many countries that have experienced sharp fluctuations in exchange rates, Ethiopia has maintained stability, attributed to strict monetary policies.
He also noted that the gap between official and parallel foreign exchange rates, which stood at 95.7% before the reforms, has been significantly reduced through administrative and policy measures. While some volatility in the exchange rate was observed between September and October, both the banking sector and the government are prepared to introduce further adjustments to strengthen the exchange rate.
In the first four months of the fiscal year, Ethiopia’s commercial banks generated $3.3 billion in foreign currency, marking a 13.5% increase from the same period last year. A key contributor to this growth has been a 69% rise in remittances in September compared to the previous year.
Additionally, the National Bank of Ethiopia has boosted its foreign exchange reserves by 152% since the end of the last fiscal year. Minister Shide projected that Ethiopia’s economy would grow by 8.4% in the 2017 fiscal year, with the ongoing macroeconomic reforms playing a pivotal role in achieving this growth. He pointed to positive developments in key sectors such as agriculture, tourism, manufacturing, construction, mining, and the digital sector as strong evidence that the forecasted growth is achievable.
The minister further noted that Ethiopia’s continued economic integration with neighboring countries is expected to strengthen as the reform program progresses.
The recent endeavors in Ethiopia’s macroeconomic reform program aims to build a resilient and globally competitive economy, with a focus on correcting foreign exchange distortions and addressing the structural balance of payments deficit. Other key objectives include reducing inflation, unifying parallel and official markets, increasing gold exports, and stimulating both domestic entrepreneurship and foreign direct investment. The program also advocates for the use of a floating exchange rate system and interest rates as a policy tool.
The reform program, supported by the International Monetary Fund (IMF) and the World Bank, includes the Home-Grown Economic Reform, which has contributed to maintaining economic resilience. Further initiatives include expanding industrial parks, promoting the “Made in Ethiopia” movement, and increasing private sector participation.
These reforms have already led to positive outcomes, including increased gold exports, higher interest from domestic entrepreneurs and foreign investors, improved access to finance, enhanced business development services, and better working conditions across various sectors.
Ethiopia and Jiangsu Forge Stronger Economic Partnerships for Shared Prosperity
The Jiangsu-Africa (Ethiopia) Economic and Trade Cooperation Conference was held on Thursday (November 14) in Addis Ababa. Co-organized by the Ministry of Foreign Affairs of Ethiopia and the People’s Government of Jiangsu Province, the event brought together a high-profile delegation led by Jiangsu Governor Xu Kunlin, senior Ethiopian government officials, African diplomatic representatives, and business leaders from both sides.
Governor Xu’s delegation included officials and representatives from 15 prominent Jiangsu companies, while the Ethiopian side was represented by Finance Minister Ahmed Shide, State Minister of Foreign Affairs Ambassador Mesganu Arga, State Minister of Foreign Affairs Ambassador Birtukan Ayano, and delegates from over 170 Ethiopian private sector companies. The event, held at the historic Adwa Victory Memorial Hall, also hosted ambassadors, representatives of the African Union, and other distinguished guests.
In his welcoming address, State Minister of Foreign Affairs Ambassador Mesganu Arga emphasized Ethiopia’s commitment to deepening its partnership with China. He highlighted the significance of the 10 Partnership Action Plans proposed by Chinese President Xi Jinping during the recent FOCAC Summit 2024 in Beijing, which aims to elevate the Africa-China partnership to an All-Weather China-Africa Community with a Shared Future.
Ambassador Mesganu underscored Ethiopia’s strategic role in China-Africa relations, noting its position as a gateway to Africa and its collaboration with China in infrastructure development, industrialization, and technology transfer. He invited Jiangsu enterprises to contribute to transforming Ethiopia into a demonstration zone for high-quality China-Africa Belt and Road cooperation in East Africa.
Finance Minister Ahmed Shide echoed this sentiment, outlining Ethiopia’s ongoing economic reforms to create a favorable investment climate. These reforms include adopting a market-driven foreign exchange system, financial sector modernization, and the liberalization of previously closed industries. Highlighting priority sectors such as mining, agro-industry, digital technology, and manufacturing, the Minister presented Ethiopia as an ideal destination for foreign investment and assured the Jiangsu delegation of the government’s commitment to supporting business operations.
Governor Xu Kunlin celebrated the growing economic ties between Jiangsu and Ethiopia, noting a trade volume approaching half a billion dollars. He highlighted success stories like the Eastern Industrial Zone, which has attracted 155 companies and created over 20,000 jobs, demonstrating Jiangsu’s pivotal role in Ethiopia’s industrialization.
Governor Xu also emphasized the complementarities between Jiangsu’s advanced industries and Ethiopia’s agricultural resources. For instance, Ethiopian coffee’s rising popularity in Jiangsu exemplifies mutually beneficial trade. He reiterated Jiangsu’s commitment to enhancing cooperation in trade, agriculture, science and technology, cultural exchange, and healthcare over the next three years, leveraging platforms such as the Belt and Road Initiative and FOCAC to achieve shared development goals.
The conference facilitated bilateral discussions between the Jiangsu delegation and Ethiopian officials. During a meeting with Prime Minister Abiy Ahmed, the delegation expressed eagerness to expand business engagements in Ethiopia. The Prime Minister assured them of Ethiopia’s supportive policies for Chinese enterprises and welcomed increased investment in key sectors.
Separately, Addis Ababa Mayor Adanech Abiebie engaged the delegation in discussions on infrastructure development, technical education, and sustainable city management, further highlighting the multifaceted nature of the Ethiopia-Jiangsu partnership.
The conference showcased the robust and evolving relationship between Ethiopia and China, reflecting decades of trust, shared goals, and successful collaboration. It reaffirmed the shared commitment to fostering sustainable development, economic integration, and mutual prosperity.
By aligning their development strategies and leveraging their strengths, Ethiopia and Jiangsu are setting a benchmark for sustainable partnerships. This collaboration, grounded in the principles of the Belt and Road Initiative and the outcomes of the FOCAC Summit, is poised to contribute significantly to the socio-economic transformation of Ethiopia and the broader African continent.
Ethiopia- Russia Business Forum Held in Addis Ababa
Ethiopia-Russia business forum was held on Wednesday (November 13) at the Millennium Hall in Addis Ababa under the theme ‘Russia-Ethiopia: No Time to Wait.’
The forum was co-organized by the Ministry of Foreign Affairs of Ethiopia, the Ethiopian Embassy in Moscow, the Coordinating Committee for Economic Cooperation with African Countries (AFROCOM), and the Chamber of Commerce and Industry (CCI) of the Russian Federation in collaboration with the Roscongress Foundation.
With the aim of further strengthening the existing economic ties and fostering economic cooperation between Ethiopia and Russia, the forum brought together more than 200 participants, including Ethiopian high-level officials and the business communities of the two nations. More than 35 Russian companies from diverse sectors, including industry, agriculture, transportation, communications, banking, digital solutions, IT and cyber security, education, and culture, participated in the forum.
In his opening remarks, Ambassador Mesganau Arga, State Minister for the Ministry of Foreign Affairs, highlighted the importance of unwavering mutual trust and confidence in fostering strong partnerships. He emphasized that strengthening trade and investment relations is crucial and noted that the Ethio-Russian Business Forum serves as a significant effort to enhance economic cooperation for shared prosperity.
The State Minister highlighted that Ethiopia has been embarking on ongoing economic reforms, including the liberalization of key strategic economic sectors such as telecommunications and finance. The shift to a market-based floating foreign exchange regime and ease of doing business created favorable conditions for the inflow of foreign direct investment. The state minister reaffirmed that the government of Ethiopia remains committed to enhancing economic cooperation with Russia.
The Russian Ambassador to Ethiopia, Evgeny Terekhin, on his part stated that the forum is a good opportunity to bolster the existing economic cooperation between the two countries.
N.V. Novichkov, Deputy of the State Duma of the Russian Federation, emphasized the significance of the forum in establishing a foundation for promoting Russian high-tech products and for localizing enterprises whose outputs are in demand in the Ethiopian market.
The Ethiopian Investment Holdings, the Ethiopian Investment Commission, Ministry of Mining and the Ethiopian Industrial Parks Development Corporation (IPDC) senior officials made presentations about Ethiopia’s various investment opportunities for the Russian investors in multiple sectors, including agriculture, agro-processing, textiles and apparel, leather and leather products, vegetables and fruits, mining, pharmaceuticals, tourism, star hotels, lodges, and restaurants, renewable energy, and incentives available for foreign investors.
The high-level officials from those offices stated that the opening up of new investment opportunities in financial and telecom sectors and the establishment of special economic zones are playing crucial roles in changing the business climate and attracting FDI inflow to Ethiopia.
During the business forum, both Russian and Ethiopian companies had business-to-business discussions, bilateral meetings with Ethiopian Government officials, and paid field visits.
Thousands Participate in Great Ethiopian Run International 10-Kilometer Road Race 2024
The 24th edition of the Great Ethiopian Run International 10-Kilometer Road Race, organized in partnership with Ethiopia’s Ministry of Tourism, held in Addis Ababa on Sunday (November 17) under the theme “For Every Child, Nutrition.”
High-level dignitaries including President Taye Atske-Selassie, Mayor Adanech Abiebie of Addis Ababa, Minister of Tourism Selamawit Kasa, and Minister of Health Dr. Mekdes Daba were in attendance at the opening of the event.
This year’s Great Ethiopian Run International 10-Kilometer Road Race attracted about 50,000 participants from across the world. Well-known Ethiopian and foreign athletes, including the Kenyan world marathon record holder, Ruth Chepngetich, and various diplomatic community members, have participated in this prestigious event while millions more watched it across the globe.
The Kenyan world marathon record holder, Ruth Chepngetich, said that the number of participants in future similar races would probably reach 100,000 as the interaction of the people during the events motivates many athletes.
According to Tourism Minister Selamawit Kasa, this year’s Great Ethiopian Run program has provided opportunities to promote the ongoing development works to the international community.
The Great Ethiopian Run has been playing a prominent role in building Ethiopia’s image and promoting the country’s tourism beyond its contribution to the advancement of athletics, stated the founder of this esteemed international event, athlete Haile Gebrselassie.
In addition to the contest, the commemoration of the 50th anniversary of Lucy’s (Dinkinesh) discovery, which heralded Ethiopia as the cradle of humankind, has given the occasion additional significance.
The Great Ethiopian Run has a significant contribution in stimulating tourist inspiration, allowing participants from various countries to entertain the chance to run alongside champions, experience the rich culture of the country, taste the flavor of Ethiopian coffee, entertain the melodies of folk music, and enjoy the amiability of the people. Since its inception in 2001, it has also evolved into a platform for social change, charity, and patriotism in addition to being a celebration of athleticism.
In October 2024, the Great Ethiopian Run International 10km race received the prestigious Label Road Race status from World Athletics. This recognition highlights its adherence to strict standards set by World Athletics, including course design, participant safety, event organization, eligibility criteria, race-day procedures, marketing, anti-doping measures, and environmental sustainability.
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