The President of the Federal Republic of Somalia Visits Ethiopia
Ethiopia Unveils Its First Stock Exchange, Marking a New Financial Era
Celebrating 55 Years of Ethiopia-China Relations: A Partnership for Progress and Transformation
Ethiopia and Azerbaijan Deepen Bilateral Relations Through High-Level Engagements
NEWS IN BRIEF
Ethiopia
Ethiopia reached a new financial milestone with the official Launch of the Ethiopian Securities Exchange (ESX), the country’s first-ever stock market. The launch ceremony, held at the Science Museum in Addis Ababa on Friday (January 10), was presided over by Prime Minister Abiy Ahmed, symbolizing a key step in the nation’s journey toward economic modernization and financial reform. (See article)
The Council of Ministers, led by Prime Minister Abiy Ahmed, in its 41st regular session, approved key decisions on Tuesday (January 14), including the ratification of two interest-free loan agreements with the International Development Association (IDA) to modernize government services and strengthen the financial sector, amendments to the Investment Incentives Regulation to address implementation challenges, and the dissolution of the Public Enterprises Administration, transferring its responsibilities to the Liability and Asset Management Corporation.
Minister of Foreign Affairs Gedion Timothewos held discussions with Emilie Enger Mehl, Norwegian Justice Minister, at his office on Tuesday (January 14). The Foreign Minister highlighted that Norway is one of Ethiopia’s longstanding partners, emphasizing his country’s keenness to further elevate the existing bilateral ties.
Ethiopia’s Finance Minister, Ahmed Shide, met with Solomon Quaynor and his delegation to discuss ways of enhancing AfDB’s development cooperation in Ethiopia on Wednesday (January 15). Vice President of the Private Sector, Infrastructure, and Industrialization Complex of the African Development Bank (AfDB), Solomon Quaynor, commended Ethiopia’s successful macroeconomic reform efforts.
Aiming at strengthening the relationship between Ethiopia and the Republic of Azerbaijan, a delegation led by Yalchin Rafiyev, Deputy Minister of Foreign Affairs of the Republic of Azerbaijan, has conducted a working visit to Ethiopia from January 15-16. (See article)
This week, Ethiopia and China celebrated the 55th anniversary of their diplomatic relations with a grand celebration held at Friendship Square in Addis Ababa. The event, which coincided with the Chinese Lunar New Year, brought together key officials, business leaders, and cultural representatives from both nations to honor the enduring partnership and shared aspirations that have defined their relationship for over five decades. (See Article)
State Minister for Foreign Affairs, Ambassador Mesganu Arga, on Friday (January 17), received the Deputy Foreign Minister of Iran, Vahid Jalalzadeh and discussed enhancing economic cooperation through joint economic commission and south-south cooperation in agriculture, mining, manufacturing, science and technology, among others.
Ambassador Mesganu conferred on Thursday (January 16) with Saudi Arabia Ambassador to Ethiopia, Fahad Obaydallah Alhumaydani Almotairi, on ways of facilitating exchange of high-level visits and enhancing bilateral and multilateral cooperation on issues of mutual interest.
Ambassador Mesganu held talks with Asein Isaev, First Deputy Minister of Foreign Affairs of the Kyrgyz Republic, at his office on Wednesday (January 15). The two sides have agreed to strengthen bilateral relations and work closely on multilateral platforms within the spirit of south-south cooperation.
On Tuesday (January 14), the State Minister also held talks with the Cameroonian Ambassador to Ethiopia, Ambassador Churchill Ewumbe. Key areas of discussion included initiating bilateral political consultations and strengthening the continent’s peace and security architecture.
Earlier that day, Ambassador Mesganu also received at his office a joint delegation led by Maciej Popowski, European Union Director General for Civil Protection and Humanitarian Aid Operations (DG-ECHO), and Carl Skau, Deputy Executive Director of the World Food Programme, on further strengthening cooperation on areas of humanitarian support and development.
On the same day, he also met with Zimbabwean Ambassador to Ethiopia, Sophia Nyamudeza, on shared bilateral, regional, and multilateral issues, including the 38th AU Summit. They also agreed to hold the Second Joint Ministerial Commission meeting earlier this year.
A delegation led by Parliament Speaker of Iran, Mohammed Baqer Qalibaf has arrived in Addis Ababa, Ethiopia for official visit on Thursday (January 16). Upon his arrival, House Speaker, Tagesse Chafo and Foreign Affairs State Minister, Ambassador Birtukan Ayano among others welcomed the speaker at Bole International Airport.
Spokesperson of the Ministry of Foreign Affairs, Ambassador Nebiat Getachew, gave the weekly briefing of the Ministry, focusing on bilateral, regional and multilateral affairs as well as citizen-centered diplomacy, on Thursday (January 16).
During his press briefing, the Spokesperson, highlighted the major activities carried out in foreign relations over the past six months and current diplomatic activities.
Kenya
On Tuesday (January 14) at State House in Nairobi, President William Ruto and a delegation from the United Arab Emirates, led by His Highness Sheikh Abdullah bin Zayed Al Nahyan, signed the Kenya-UAE Comprehensive Economic Partnership Agreement (CEPA).
Somalia
President of Somalia, Hassan Sheikh Mohamud, paid a working visit to Ethiopia from January 11–12. Upon arrival at Bole International Airport, the President was accorded a warm welcome by Prime Minister Abiy Ahmed. In the build-up to this high-level visit, Ethiopia and Somalia have made a series of engagements following the signing of the Ankara declaration. (See article)
On Saturday (January 11), President Hassan Sheikh Mohamud engaged in discussions with Kenyan President William Ruto on the sidelines of the Comprehensive Africa Agricultural Development Programme (CAADP) Summit in Kampala.
Minister of Foreign Affairs Ahmed Moallim Fiqi met with Kenyan Deputy President Kithure Kindiki on Wednesday (January 15) in Nairobi, where they discussed enhancing bilateral ties and advancing regional cooperation.
Africa and the African Union
An African Union Extra-Ordinary Summit on Comprehensive African Agriculture Development Program (CAADP) convened from January 9–11 in Kampala, Uganda. The session was convened in line with the decision of the 37th Assembly session held in February last year in Addis Ababa, Ethiopia, to consider the Post-Malabo CAADP agenda. (See article)
The President of the Federal Republic of Somalia Visits Ethiopia
President of Somalia, Hassan Sheikh Mohamud, paid a working visit to Ethiopia from January 11–12. Upon arrival at Bole International Airport, the President was accorded a warm welcome by Prime Minister Abiy Ahmed. In the build-up to this high-level visit, Ethiopia and Somalia have made a series of engagements following the signing of the Ankara declaration.
Engagements made by the two states at different levels have achieved various objectives, culminating in this high-level working visit by the President. Among the major activities, the visit led by Ali Omar, Somalia’s State Minister for Foreign Affairs to Ethiopia, laid the groundwork for a fruitful confidence-building process and opened direct communication between and among key institutions of Addis Ababa and Mogadishu. Similarly, the visit led by Aisha Mohamed, Ethiopia’s Defense Minister, to Mogadishu and the frank discussion that followed deliberated on key issues in the bilateral relations between the two countries.
The high-level working visit by President Hassan Sheikh Mohamud shows the level of understanding built between the two countries through these engagements. Likewise, the productive bilateral discussion between the two countries’ delegations attests to the increasing commitment to further enhance the relations. Following the bilateral discussions, the two leaders issued a joint communiqué that reflects the productive meeting they had on bilateral as well as regional issues of concern.
The two leaders have reaffirmed their commitment to restoring and strengthening bilateral relations through the full reinstatement of diplomatic representation in their respective capitals. This is a significant step in bringing the longstanding relationship between the two countries back on track. It is also a significant step that proves the determination of the parties to take the cordial relations that existed between the two countries to a new level.
The discussion between the two leaders also deliberated on the importance of broadening the horizon of the relationship with the objective of achieving shared prosperity. The understanding reached to intensify economic cooperation, trade and investment through expanding infrastructural linkages and boosting overall economic cooperation indicates this determination.
Regional issues were also at the center of the discussions. According to the communiqué issued following the two leaders’ bilateral engagement, the leaders have reaffirmed that the stability of the region requires strong cooperation between the two countries based on mutual trust, confidence and respect. They agreed to work together to further coordinate efforts to improve regional relations, fostering common understanding and shared progress. This is crucial, especially considering the serious and evolving threat posed by extremist militant groups in the region. It is in this context that the leaders have instructed their respective security agencies to bolster cooperation in promoting peace and stability in the region.
Moreover, the parties have agreed to strengthen diplomatic engagement both on bilateral as well as multilateral platforms. Considering Somalia’s non-permanent membership in the United Nations Security Council, there is an opportunity for the two countries to join hands and coordinate positions to voice key regional and continental concerns at the global stage.
In conclusion, this high-level visit demonstrates the shared commitment between the two countries to ensure the full implementation of the Ankara Declaration. What transpired between the two countries’ relationship in the past 11 months is an unfavorable development that the parties are working to leave behind. The experience, however, proves that the fates of these two countries are intertwined to the dismay of detractors and conflict entrepreneurs that have been eagerly working to escalate tension in the region.
Ethiopia Unveils Its First Stock Exchange, Marking a New Financial Era
Ethiopia reached a financial milestone with the official Launch of the Ethiopian Securities Exchange (ESX), the country’s first-ever stock market. The launch ceremony, held at the Science Museum in Addis Ababa on Friday (January 10), was presided over by Prime Minister Abiy Ahmed (PhD), symbolizing a key step in the nation’s journey toward economic modernization and financial reform.
“In a historic milestone for our economic and financial landscape, we have officially rung the bell to launch the Ethiopian Securities Exchange—the first stock exchange for our country,” the Prime Minister stated, emphasizing its importance for Ethiopia’s future.
The ESX aims to provide long-term local currency financing for both public and private entities, mobilize savings for large-scale investments, improve corporate governance and transparency, and offer a secure, efficient market for listing, trading, and settling securities. These measures are expected to significantly bolster investor confidence and economic activity.
Established in October 2023, the ESX was developed through an innovative public-private partnership model. Ethiopian Investment Holdings (EIH), the government’s strategic investment vehicle, holds a 25% public stake, while private investors account for the remaining 75%. Key stakeholders include international players such as FSD Africa, Trade and Development Bank Group (TDB), and Nigerian Exchange Group (NGX), alongside 16 domestic commercial banks, 12 private insurance companies, and 17 other private investors. Public sector entities like EIH, Ethiotelecom, and the Commercial Bank of Ethiopia also play a significant role in the exchange’s ownership.
ESX CEO Tilahun Esmael Kassahun described the exchange as a cornerstone of economic transformation. “Today marks the beginning of a new era for Ethiopia, where capital can flow freely to unlock opportunities, empower businesses, and transform lives. Together, we are building a robust financial foundation for future generations,” he stated.
FSD Africa CEO Mark Napier described the launch as a “game-changer,” highlighting the role of modern capital markets in accelerating Ethiopia’s economic momentum. “We are proud to have played a role in the development of this exchange, which will undoubtedly spur equity, fixed income, and other innovative financial instruments,” he stated.
Speaking at the lauch event, Temi Popoola, Group Managing Director and CEO of NGX Group, emphasized the significance of this initiative in reshaping Ethiopia’s economic future and strengthening its role in the continent’s financial ecosystem. He highlighted the importance of close collaboration between government and private sectors in ensuring the success of the capital market.
The establishment of the ESX follows a series of major economic reforms, including floating the Ethiopian Birr, opening the banking sector to foreign players, and advancing capital market infrastructure. These initiatives are positioning Ethiopia to become a dynamic financial hub in the region, fostering sustainable economic growth and development.
Efforts to establish a capital market in Ethiopia trace back to the reign of Emperor Haile Selassie. However, these early initiatives were disrupted by the rise of the socialist Derg regime. Decades later, this vision has materialized under the Ethiopian Government’s Home-Grown Economic Reform II (HGER II) initiative. This reform agenda prioritizes enhancing financial accessibility, mobilizing capital, and fostering investment-driven growth.
Celebrating 55 Years of Ethiopia-China Relations: A Partnership for Progress and Transformation
This week, Ethiopia and China celebrated the 55th anniversary of their diplomatic relations with a grand celebration held at Friendship Square in Addis Ababa. The event, which coincided with the Chinese Lunar New Year, brought together key officials, business leaders, and cultural representatives from both nations to honor the enduring partnership and shared aspirations that have defined their relationship for over five decades.
The celebration was graced by the presence of Ambassador Mesganu Arga, State Minister of Foreign Affairs; Chen Hai, Chinese Ambassador to Ethiopia; Nefisa Almahdi, State Minister of Culture and Sport; Samuel Kifle, President of Addis Ababa University; and other dignitaries, including prominent business leaders and members of civil society. The event served as a reflection on the achievements of the past and a platform to discuss the future trajectory of Ethiopia-China relations.
In his opening remarks, State Minister Mesganu Arga underscored the deep-rooted friendship and mutual trust that characterize Ethiopia-China relations. He highlighted the transformation of their partnership into an “All-Weather Strategic Partnership,” a status reaffirmed during the official visit of Ethiopian Prime Minister Abiy Ahmed to China in October 2023. During this visit, the two nations solidified their commitment to high-level exchanges, deeper political trust, and expanded cooperation in critical areas such as the Belt and Road Initiative (BRI), green development, cultural exchange, and global peace efforts.
Ethiopia and China’s friendship is deeply rooted in shared values and historical parallels. Both nations have steadfastly defended their sovereignty and independence, overcoming external challenges and emerging stronger. From Emperor Haile Selassie’s landmark visit to Beijing in 1971 to our collaborations on global platforms such as the United Nations, our partnership has consistently exemplified the principles of equality, non-interference, and mutual benefit.
Ambassador Mesganu pointed out that the partnership between Ethiopia and China is guided by principles of equality, non-interference, and mutual respect. “It is not just about bilateral engagement but addressing pressing global challenges together. Our partnership stands as a testament to what can be achieved when nations share a vision of mutual respect and collective progress,” he said.
Echoing these sentiments, Ambassador Chen Hai emphasized the enduring nature of the relationship. “Over the past five decades, the peoples of our two countries have worked tirelessly to foster bilateral relations. As we celebrate the 55th anniversary, we take this as a new starting point to implement the outcomes of the FOCAC Beijing Summit and agreements signed between our governments,” he remarked.
Key Achievements and Transformative Projects
Ethiopia-China relations have delivered transformative outcomes across economic, social, and cultural dimensions. China is Ethiopia’s largest trading partner and a leading source of foreign direct investment. Landmark infrastructure projects, such as the Addis Ababa-Djibouti Railway and the Riverside Green Development Project, have significantly enhanced regional connectivity and created new trade opportunities.
Collaborative initiatives such as the Eastern Industrial Zone and the Adama Wind Farm have strengthened Ethiopia’s industrial capacity and driven technological advancement, contributing to the country’s economic modernization. Thousands of Ethiopian students and professionals have benefited from scholarships and training programs in China. These opportunities have enriched Ethiopia’s human capital while fostering lifelong connections between the peoples of the two nations. The celebration at Friendship Square showcased the strong cultural ties between Ethiopia and China. Traditional performances, artistic collaborations, and people-to-people exchanges have deepened mutual understanding and solidarity.
Looking Ahead: A Vision for Deeper Collaboration
As Ethiopia undergoes a profound economic transformation under its Homegrown Economic Reform Agenda, the celebration also served as a moment to look forward to greater collaboration in key sectors. The Ethiopian government has identified agriculture, manufacturing, mining, tourism, and the digital economy as priority areas for investment. Ambassador Mesganu invited Chinese investors to seize the opportunities presented by Ethiopia’s reforms, which include the liberalization of the financial sector and the introduction of foreign banks into the local economy.
China’s unparalleled development journey offers invaluable lessons for Ethiopia. Through platforms like the Belt and Road Initiative (BRI), the Forum on China-Africa Cooperation (FOCAC), Global Security Initiative, Global Development Initiative, the Global Civilizations Initiative, and the BRICS, provide robust frameworks for collaboration. As Ambassador Mesganu noted, “These initiatives not only strengthen our bilateral ties but also serve as catalysts for regional integration and sustainable development across Africa.”
A Shared Future Rooted in Mutual Respect
Both nations reaffirmed their commitment to supporting each other on multilateral platforms such as BRICS and the United Nations. Ethiopia expressed its unwavering support for the One-China Policy, while China pledged to assist Ethiopia in achieving peace, stability, and economic revitalization.
As Ethiopia and China move forward, their partnership exemplifies the transformative power of mutual respect and shared vision. The 55th anniversary celebration not only honored past achievements but also set the stage for a future defined by deeper collaboration, greater prosperity, and enduring friendship.
Ethiopia and Azerbaijan Deepen Bilateral Relations Through High-Level Engagements
Aiming at strengthening the relationship between Ethiopia and the Republic of Azerbaijan, a delegation led by Yalchin Rafiyev, Deputy Minister of Foreign Affairs of the Republic of Azerbaijan, has conducted a working visit to Ethiopia from January 15-16.
On the first day of the visit, the third joint political consultation between the Federal Democratic Republic of Ethiopia led by Ambassador Mesganu Arga, State Minister of Foreign Affairs of Ethiopia, and Yalchin Rafiyev, Deputy Minister of Foreign Affairs of the Republic of Azerbaijan, was held.
On his opening remarks, Ambassador Mesganu stated that the joint political consultation platform is serving as a key instrument in further enhancing cooperation, facilitating exchange of views and collaboration on mutually important agendas of the two friendly countries.
A variety of topics were covered during the joint political consultations, including exchange of views on the status of bilateral relations, enhancing existing partnership and exploring additional cooperation in the areas of investment and trade. The two sides further exchanged views on how to enhance cooperation in areas such as foreign direct investment, agriculture, aviation, mining, manufacturing, pharmaceuticals, construction, trade, technology transfer and tourism sectors. A briefing regarding the recent macro-economic reform in Ethiopia and its significance in solving investment bottlenecks was also made by the Ethiopian State Minister of Foreign Affairs.
Furthermore, the two sides conferred about cooperation in modernizing the public service delivery, capacity building and scholarship programs. Cooperation in multilateral forums and mutually important agendas such as maintenance of international peace and security, UN reform Agenda, Climate Action, and reciprocal support for candidature between the two countries were also comprehensively discussed during the political consultations.
Following the joint political consultations, the delegation led by Yalchin Rafiyev, the Deputy Minister of Foreign Affairs of the Republic of Azerbaijan, had an extensive discussion with Girma Amente, the Minister of Agriculture; Kassahun Gofe, the Minister of Trade and Regional Integration; Zeleke Temesgen, Commissioner of the Ethiopian Investment Commission; and CEO of Ethiopian Investment Holdings, Bruke Taye.
The delegation composed of different Azerbaijan public entities has exchanged views on identifying specific projects of collaboration in a variety of fields, such as commerce, manufacturing, mining, and the production and delivery of fertilizer and agrochemicals between Ethiopia and Azerbaijan. Research development, agricultural mechanization, Agro-processing, and other potential areas of collaboration in trade and agriculture were also covered. Investment potential in Ethiopia’s priority industries, including manufacturing, tourism, ICT, agriculture, and mining, was also discussed.
On its second day visit, the high-level delegation from the Azerbaijan Republic has visited the Chaka Project, Adwa Museum, Unity Park and National Palace Museum. The delegation also paid a visit to Kilinto Industrial Park and Glucare Pharmaceuticals.
Ethiopia Calls on AU Member States to Reaffirm Commitment to Accelerate CAADP Kampala Declaration Implementation
An African Union Extra-Ordinary Summit on Comprehensive African Agriculture Development Program (CAADP) convened from January 9–11 in Kampala, Uganda. The session was convened in line with the decision of the 37th Assembly session held in February last year in Addis Ababa, Ethiopia, to consider the Post-Malabo CAADP agenda.
The Ethiopian delegation led by President Taye Atske Selassie attended the summit and addressed the gathering on behalf of Prime Minister Abiy Ahmed, who is the current Champion of the CAADP. The high-level delegation took centre stage as Ethiopia reaffirmed its commitment to championing the CAADP at the Kampala Summit.
President Taye addressed the Assembly session on Saturday (January 11) and underscored that the summit “marks a defining moment for Africa where we will be able to chart out the course of the continent’s agrifood systems.” The president emphasized the significance of the Summit and the Kampala Declaration in guiding Africa’s journey toward sustainable agricultural transformation. He further underscored the importance of ensuring that “every African has access to safe, nutritious, and affordable food.”
The Summit kicked off with the Session of the Ministers of Agriculture, which was held on Thursday (January 9) and extensively discussed the Post-Malabo CAADP agenda dedicated to transforming Africa’s agricultural landscape and endorsed the Ten-Year Strategy and Action Plan of CAADP (2026-2053) as well as the Kampala Declaration.
Girma Amante, Minister of Agriculture of Ethiopia, addressed the Sessions of the Ministers of Agriculture, reflecting on Africa’s agricultural transformation journey, success and challenges. The Minister shared Ethiopia’s major achievements in agricultural transformation, focusing on agro-food systems transformation, particularly in the areas of irrigated wheat production, green legacy initiative and bounty of the basket (lemat trufat), among other notable achievements.
The joint session of the Ministers of Foreign Affairs and Ministers of Agriculture convened on the next day. The joint session deliberated on and endorsed the report of the Ministers of Agriculture and the ‘Kampala Declaration for Building Resilient and Sustainable Agrifood Systems in Africa.”
Ambassador Hirut Zemene, Permanent Representative of the Federal Democratic Republic of Ethiopia to the African Union and the United Nations Economic Commission for Africa, addressed the joint session of the Executive Council of the African Union and Ministers of Agriculture, reflecting on overall success stories, challenges and the way forward in accelerating the implementation of the CAADP. Ambassador Hirut pointed out Ethiopia’s notable achievements—its agricultural transformation, green legacy initiative and bounty of the basket—over the last couple of years. The Ambassador further noted that “Ethiopia, as a Champion country, is ready to work hand in glove with the AU and Member States to make sure our continent draws lessons from the past two decades of the journey of CAADP and moves forward to make up for the targets we should have met.”
The Kampala Declaration was submitted to the Assembly of Heads of State and Government of the African Union with the Assembly adopting the Kampala Declaration, which will replace the Malabo Deceleration upon its expiry by the end of the year 2025.
The summit took stock of challenges in Africa’s agriculture and food systems, focusing on building resilient and sustainable agricultural and food systems. Across Africa, agriculture faces numerous challenges, including climate change, limited access to financing, and the need for better policies. However, these challenges bring opportunities for growth and collaboration. The CAADP Summit attracted various leaders and stakeholders committed to transforming agriculture in Africa. This gathering aimed to advance the cause of agri-food transformation through resilient and sustainable agricultural practices.
Ethiopia’s experience under the CAADP framework can inspire other nations to pursue similar pathways. By focusing on sustainable practices, innovation, and collaboration, Ethiopia sets a path for a brighter agricultural future for Africa. Ethiopia’s leadership role reflects its commitment and innovative approaches to agricultural transformation. Moreover, the summit presented an opportunity for Ethiopia to share its experiences in the areas of environmentally sustainable agricultural transformation. On the margins of the summit, the Ethiopian delegation held fruitful bilateral discussions with other delegations.
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