Sudan summoned Addis Ababa’s ambassador to Khartoum on Tuesday about a statement he made confirming Ethiopia shot down a plane that had come from Sudanese airspace.

“With regards to the plane that passed through Sudanese airspace to Ethiopian airspace and was brought down by the Ethiopian army there is no doubt that the news is true,” Yibeltal Aemero Alemu (amb.) told reporters in Sudan about resumed hostilities in northern Ethiopia.

The envoy was summoned to the foreign ministry on Tuesday.

A statement said Fadl Abdallah Fadl, Sudan’s Director-General of African Affairs, called the ambassador’s statements “unfounded allegations” and “in violation of diplomatic custom,” especially as the neighboring countries “seek to strengthen relations.”

Ethiopia’s air force said last week it had shot down a plane carrying weapons for the Tigray People’s Liberation Front (TPLF) that had encroached on the country’s airspace via Sudan.

The date of the incident, the type of aircraft and how it was downed were not detailed in the original statement or by Alemu.

(Alarabia news)

Ethiopia tells crypto firms to register with cyber security agency

Ethiopia has begun registering crypto firms with its national cyber security agency, after the central bank said cryptocurrencies are illegal earlier this year.

The Information Network Security Administration (INSA) stated on August 24 that “individuals and entities” involved in “crypto operations” must register with the authority within 10 days. The “urgent notice” comes after the Parliament amended INSA’s mandate to “regulate and control cryptographic products and their transactions.”

The agency’s registration of crypto entities was made possible by the amendment of a law that paved the way for the re-establishment of INSA. The amended law gives the cybersecurity agency the power to oversee cryptographic products and related transactions. In addition, as the designated “Root Certificate Authority,” it is tasked with developing operating procedures as well as the cryptographic infrastructure.

Crypto service providers have been granted a ten-day period in which they must complete the registration process or “legal measures” will be taken against entities that fail to comply.

(Bitcoin.com news)

Ethiopia hails Turkish role in region, grain corridor mediation

Ethiopia is appreciating the role Türkiye is playing in the region as well as its efforts in having brokered a grain export deal between warring Ukraine and Russia that alleviated a possible global food crisis, Ethiopia’s Ambassador to Türkiye Adem Mohammed said.

“The role of Türkiye in this challenging region as well as in the Ukraine-Russia war is increasing positively,” Adem told Daily Sabah in an interview, saying that this is not only the case for the African people but that Türkiye is working for world peace.

“We appreciate Türkiye’s efforts a lot,” the ambassador said referring to Ankara facilitating the grain deal.

Regarding the Tigray conflict, Turkey has frequently voiced it is supporting every path that leads to peace and stability in Ethiopia and that Ankara is in touch with all sides in the country to urge negotiations.

“The peace, tranquility and integrity of Ethiopia, which has a strategic location and importance in Africa, is important to us,” Turkey President Recep Tayyip Erdoğan said last year during a visit by Ethiopian Prime Minister Abiy Ahmed.

(Daily Sabah)

Ethiopian Airlines sees near-doubling of full-year profit to $ 937mln

Ethiopian Airlines Group achieved a profit of USD 937 million during its financial year to June 30, 2022, according to its home country’s sovereign wealth fund, with cargo accounting for more than half of the group’s revenue.

Writing on social media on August 31, the Ethiopian Investment Holdings (EIH) chief executive, Mamo Mihretu, said the profit represented a 90 percent improvement year on year, “despite the headwinds of a worsening global economic outlook, rising fuel costs and the global pandemic.”

Revenue of USD five billion at the state-owned operator was up 79 percent on the previous year, EIH says, with some 59 percent of income coming from cargo operations.

Operating costs as a proportion of revenue were down 74 percent year on year, it added.

The airline carried 6.9 million passengers on international services during the 12 months, EIH stated, 36 percent more than in the previous 12 months.

During its previous financial year to June 2021, Ethiopian has said it was “cash positive” despite significant COVID-19 travel restrictions being in place globally, largely thanks to its shift in focus to cargo operations.

(flight global)

HORN IN BRIEF

Ukraine grain ship with aid for Ethiopia docks in Djibouti

The first shipment of grain from Ukraine to Africa since the war began has docked in Djibouti. The MV Brave Commander is carrying 23,000 tons of Ukrainian wheat that is bound for neighboring Ethiopia, which is in desperate need of food aid.

It took two weeks to travel from southern Ukraine.

This wheat is meant to feed 1.5 million people in Ethiopia for a month but it is not enough for a country facing several humanitarian challenges.

Ukraine and Russia reached a deal with Turkey and the UN last month to open a corridor allowing for food shipments. Right now, workers have started boarding the Lebanese-flagged ship to off-load its precious cargo.

According to the World Food Programme (WFP) it will take about a week for the wheat to be bagged and taken by road to Ethiopia.

The organization has paid for this shipment because its reserves to support refugees and people displaced by conflict and drought had started to run low.

(UKRagroConsult)

Uganda’s public debt rises to Shs 70 trillion from Shs 57 trillion

Members of Parliament have raised concern about the continuous rise of Uganda’s public debt, which has increased by 22 percent from Shs 56.938 trillion in FY 2019/20 to Shs 69.513 trillion in FY 2020/21. The MPs have asked the government to develop mechanisms that will ensure the country returns to a low risk of debt distress.

MPs approved two reports by the committee on national economy, on the state of indebtedness, grants and guarantees and another one on the performance of the economy.

The total public debt has increased over recent years due to the implementation of the government’s investment agenda and the effects of the COVID-19 pandemic that caused revenue shortfalls, according to committee vice chairperson Robert Migadde.

Migadde says that public debt is projected to increase over the medium term as government continues to implement its investment program to boost economic recovery.

In FY 2020/21 alone, Uganda Revenue Authority collected Shs 18.3 trillion (12.4%GDP) but lost Shs 7.7 trillion (5.2 percent GDP), according to the report, implying that without the tax expenditures, the government could have collected Shs 26 trillion (17.6 percent).

(The observer)

Kenya, China in double taxation deal to spur trade, investment

Kenya plans to sign an agreement with China to end double taxation of income or gains arising from one country and paid to residents of the other.

The deal, which will be subject to ratification by both the Chinese and Kenyan parliaments, is meant to create a favorable environment for investment and trade in goods and services between the two countries.

National Treasury Cabinet Secretary Ukur Yatani asked Kenyans for their views before Kenya signs the deal.

Kenya and China are major trading partners but the trade deficit between the two countries has been widening with China increasingly exporting more goods into the country.

Kenya has signed dozens of DTAs with its major trading partners including the United Kingdom, South Korea, Germany and Egypt with others under consideration, negotiation, or signed but yet to take effect.

Double taxation leads to the loss of a significant portion of income for both individuals and corporations, which also face the challenge of incurring higher employee costs as a result of the higher taxes expatriate labor has to pay.

(Nation)

Uganda and Rwanda resume talks to revive bilateral ties

Rwanda and Uganda have officially resumed diplomatic talks, a significant step towards reviving relations between the two countries that were at loggerheads for almost three years till the beginning of this year.

A delegation of Ugandan officials led by the Foreign Affairs Minister, Odongo Jeje Abubakhar held talks with their Rwandan counterparts on Thursday in Kigali.

The team, which included Bagiire Vincent Waiswa and acting Director of Regional and International Political Affairs, Arthur Kafeero, had arrived in Rwanda a day earlier.

Recently appointed Ugandan High Commissioner to Rwanda, Robert Rusoke was also in the talks with the Rwandan team led by the Minister of Foreign Affairs, Vincent Biruta.

In a joint statement released after the meeting on Thursday, the countries said the diplomatic and political consultations are a continuation of the commitment of the heads of State to deepen further and strengthen the cordial relations between the two countries.

The ministers exchanged views on regional matters relating to security, trade, investment, and strategic regional projects.

(The East African)