Ethiopia has signed a new agreement with ICAO to support development of its aviation sector. The Management Services Agreement was coordinated through ICAO’s Eastern and Southern African Regional Office and signed by ICAO Secretary General Juan Carlos Salazar and Ethiopian Civil Aviation Authority Director General Getachew Mengiste.
The agreement provides ICAO’s full portfolio of implementation support products and services to help Ethiopia strengthen application of ICAO standards and recommended practices. This includes sharing expertise, project management support, training, and assistance with procurement.
The goal is to help Ethiopia achieve safe, secure and sustainable growth of aviation in line with ICAO’s capacity development and implementation efforts.
By formalizing deeper cooperation, the signing paves the way for ICAO to provide critical assistance to Ethiopia on aviation projects through expertise sharing, project management, training packages, and support procuring necessary resources.
Global takaful forum rescheduled
The 5th Global Takaful and Re-Takaful Forum, organized by AlHuda CIBE to promote awareness of Takaful, has been rescheduled to November 23rd, 2023 in Addis Ababa, Ethiopia.
The forum aims to highlight the role of Takaful in supporting risk management and Islamic finance, bringing together industry players to share best practices.
Ethiopian Reinsurance will co-host the event along with AlHuda CIBE to develop the Takaful sector in Ethiopia and Africa. The agenda will cover topics like product innovation, risk management and Shariah compliance.
There will also be a two day post-event workshop on operational aspects of Islamic banking and micro-takaful.
CEO of AlHuda CIBE Muhammad Zubair Mughal said the dates were changed due rescheduling challenges and that Ethiopia provides an example of Islamic finance promoting economic and social development. CEO of Ethiopian Re Dawit Amanuel commented on their role in supporting the domestic and regional Takaful industry.
Bid process launched for biometric registration kits
Ethiopia has opened a bidding process for the supply of 6,000 biometric registration kits as part of its national ID program implementation.
The bidding process, to be conducted through the Ethiopian Bankers Association, will run from September 28 to November 10. Interested bidders must purchase bidding documents by submitting a written application and can obtain information from the association’s office or via email provided.
Bidders are required to pay a non-refundable 1,000 birr fee and a $450,000 refundable deposit. Bid results will be announced on November 10 in the presence of company representatives.
Ethiopia’s digital ID rollout has been accelerating, with a recent contract awarded to print one million cards and partnerships signed to utilize the ID for civil servants and banking. The biometric kits tender signifies continued progress in realizing the national program.
Dashen Bank hires PwC to advise on stock-market listing
Dashen Bank has hired professional services of PwC to advise on a potential initial public offering on the country’s new stock exchange.
CEO Asfaw Alemu revealed that Dashen is considering listing when the Ethiopian Securities Exchange launches within 18 months, but the amount of stock and timing are still to be determined.
The IPO would make Dashen the first bank to list on the exchange, which aims to debut with 15 companies and grow to 50 over a decade. PwC is also aiding Ethiopia’s central bank on capacity-building ahead of ESX’s launch.
Dashen is looking to improve customers’ foreign exchange access in the foreign currency-starved country. It recently secured a USD 40 million loan facility and completed integration with Kenya’s Safaricom to boost mobile banking.
Alemu says negotiations with PwC and breaking barriers should encourage other local banks to pursue similar ventures. The planned IPO signifies both Dashen’s growth ambitions and Ethiopia’s efforts to develop its capital markets.
KQ increases flights to London to 14 times a week
Kenya Airways has announced it will introduce two daily flights to London starting October 29, 2023.
The national carrier said the additional frequency will provide customers more travel options and flexibility with a morning and evening flight. This increases the total number of weekly flights from Nairobi to London operated by KQ from 10 to 14 using its Boeing 787 Dreamliner aircraft.
Kenya Airways has a long history of operating this route as a key gateway between Kenya, East Africa and the UK for business, leisure, trade and education travel. The airline said the move comes in response to growing market and passenger demand on the popular route.
The extra flights will give corporate, leisure and academic travelers more convenient scheduling when travelling between Kenya/East Africa and London.
Nigeria’s efforts to become topmost cargo destination in Africa deepens
Nigeria’s Airport Authority (FAAN) visited key cargo airports in Ethiopia and Kenya as part of its goal to make Nigeria Africa’s foremost air freight hub, overtaking current leader Kenya.
Led by FAAN’s Commercial Director, the benchmarking team sought to understand successes in these countries compared to Nigeria despite its potential. In Addis Ababa, they toured facilities at Bole Airport with Ethiopian Cargo, learning about modernization projects and e-commerce solutions. Kenya Airports Authority’s acting MD hosted them, and operators led tours of various cargo sheds.
Discussions with government and industry players addressed legal issues around free zones and agency charges. The Nigerians also met with Nigerian embassy officials in both countries. At the Addis Ababa embassy, they met with Dr. Geoffrey Chima on behalf of the ambassador.
On concluding the fact-finding visit, FAAN’s team leader told the Nigerian ambassador in Kenya the tours were eye-opening in identifying gaps in Nigeria’s infrastructure and knowledge.
He stated these will now be addressed so that Nigeria can soon become a major air cargo hub, a goal the ambassador was confident the benchmarking will support by driving Nigerian exports.
Blinken, PM Abiy discussed Oromia, Amhara conflict over phone conversation
Secretary of State Antony J. Blinken and Ethiopian Prime Minister Abiy Ahmed today (September 28, 2023) discussed security challenges in the Horn of Africa and the shared goal of a unified, peaceful, and prosperous Ethiopia. Secretary Blinken expressed concern about the situations in the Amhara and Oromia Regions and underscored the need to promote peaceful resolution through political dialogue and protection of human rights. The Secretary and Prime Minister also discussed improved humanitarian oversight to allow for the resumption of food assistance. Secretary Blinken welcomed ongoing work to establish a genuine, credible, and inclusive transitional justice process, according to statement issued by Spokesperson Matt Miller.
Farm tool firm, STIHL East Africa records triple growth in region
German power tools manufacturer STIHL East Africa has reported increased revenue in its first year of operations since transforming its Kenyan unit into a fully-fledged sales subsidiary.
Managing Director Francois Marais attributes the growth to expanding economic activity and adoption of battery-powered tools in the region.
Demand for STIHL products has surged in agriculture, forestry and the DIY sector. The company has doubled warehouse capacity, tripled staff and increased training in response. This has reinforced STIHL’s dealer network and market share gains in East Africa.
STIHL is now offering purchase bonuses on some products through its “Omoka na Deal ya Power” campaign.
Global power tools revenue is projected to reach USD 65 billion by 2027. STIHL aims to introduce its battery-powered line to the regional market to meet demand for sustainable energy solutions.
Marketing manager Pauline Ngigi highlighted this will reduce emissions and positively impact the environment in line with the brand’s sustainability focus.