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DFC chief visits Ethiopia  

The Chief Executive Officer of the United Development Finance Corporation (DFC), Adam Boehler visited Ethiopia this week and held a meeting with sections of the leadership including Prime Minister Abiy Ahmed (PhD), on how to support the slew of reform initiatives on the nation’s developmental goals.

MPs approve USD 700 mln loan agreements

In its third regular session, the House of People’s Representatives (HPR) has approved financial agreements worth some USD 700 million, the Ethiopian government had signed with various countries and multilateral organizations.

IFC injects EUR 20 mln in Soufflet Ethiopia

The International Finance Corporation (IFC), a member of the World Bank Group, has financially backed Soufflet Malt Ethiopia – a subsidiary of the French-based Gruope Soufflet – with EUR 20 million to help expand the company’s malt production and for its role involving some 40,000 smallholder farmers in the value chain.

Gov’t drafts national sugar policy

The Ethiopian government which has embarked on privatizing state-owned sugar factories, is drafting a national sugar development policy and proclamation that would regulate the local sugar industry. 

PM picks vice governors for NBE, draws mixed reviews

Prime Minister Abiy Ahmed (PhD) has approved the appointments of three new vice governors for the National Bank of Ethiopia (NBE), Ethiopia’s central banking institution. However, the top picks for the positions has been met with mixed reaction from finance and economic experts.

Experts insist on restructured NBE

Economists and financial experts have called on the government of Ethiopia to seriously look at the state of the National Bank of Ethiopia (NBE) and consider restructuring it in time, while some going to the extent of reducing the central bank to an institution primarily engaged in undertaking money printing, an expression connoting the power of central banks to create money.

New venture capital to focus on female entrepreneurs

Betelhem Dessie and Noel Daniel, noted entrepreneurs, are teaming up to start Kudu Women, a venture capital company that will have a USD 1 million, female-entrepreneur focused fund, to invest in the next generation of innovators.

 Private engagement

The \Ministry of Finance unveiled what it called a “Home-Grown economic Reform” this week, spearheaded by the Office of the Prime Minister with the involvement of various policy institutions including the National Bank of Ethiopia (NBE), at an event held on Wednesday, August 28, 2019, at Sheraton Addis Hotel in Addis Ababa.