Monday, October 19, 2026
Home Blog Page 125

Purpose’s search for man: Reclaiming meaning in an age of materialism

0

Martin Luther King Jr. once famously said, “If a man has not discovered something that he will die for, he isn’t fit to live.” This powerful quote underscores an important virtue that can guide life. A life devoid of the meaning that drives people to live for a cause is impoverished, even if it is glittering with material success. Purpose drives human beings to live for something greater than life itself. The meaning of life that we attribute to things has a strong influence on how we see life, humanity, our jobs, and the people we relate to.

As Viktor Frankl observed in Man’s Search for Meaning, humanity’s main concern is not merely gaining pleasure or avoiding pain, but finding meaning in life. Frankl argued that a human being is not driven by the satisfaction of basic needs alone, but fundamentally by a “will to meaning” — an innate drive to find purpose even in times of difficulty and suffering. When individuals lack this anchor, no amount of material comfort can fill the void. Indeed, without a clear sense of why we exist, life becomes a series of busy events without a destination, reducing our existence to mere survival rather than intentional living.

We cannot deny the reality that modern life, with all its incessant demands, calls for pragmatism and pushes us toward the allure of a stable life. This stability often seems to come not through pursuing elusive goals or larger-than-life purposes, but from realistically adjusting our expectations and shrewdly dealing with the environment around us, including our jobs, relationships, and money.

Ideally, surrendering our realistic instincts to some form of ideal or utopian expectation — grounded in the fairness of life and the hope of leaving a legacy that transcends time and space — is sometimes seen as mere naïveté and, at best, Quixotism. This view dismisses such thinking as impractical idealism driven by romantic notions, lofty goals, or grand chivalrous actions without regard for practical reality.

But losing purpose in our lives, professions, and relationships comes at a heavy cost. Modern humanity has been driven to accumulate wealth, status, and fame at the expense of so-called “ideal goals” such as purpose and commitment, even when the reward does not come immediately. This creates a generation in which purpose and sacrifice are seen as a lack of understanding of “real life.” Real life, in this view, becomes an existence bound by short-term, myopic, and immediate gratification rather than long-term, generational legacy.

In this context, what holds the community together is not trust, love for one’s profession, or a genuine desire to improve things, but a formal legal statute. The calculating modern mind may view this as a bizarre and unrealistic adulation of old-fashioned tradition — perhaps even a religion-induced false consciousness, as described in the Marxist tradition. Indeed, Marx argued that in a materialist system, where material ownership ultimately defines one’s worth, noble ideas of living for something that transcends materialism might be dismissed as farce.

Furthermore, Maslow, in his famous theory of the hierarchy of needs, originally argued that one cannot satisfy higher-order needs, such as self-actualization or contributing to society without monetary reward, until lower needs are met. However, in his later life, Maslow revised this view, stating that one can — and perhaps even should — not be confined by such strict hierarchies, and that it is possible to achieve self-actualization even when lower-level needs are not fully satisfied.

Despite this, the spirit of the age has vigorously hunted down any remnant of such notions. Everyone seems to be struggling just to get by, viewing others as competitors. This predatory perception is weakening social cohesion, as relationships — even among relatives — are increasingly defined by financial or material success. Marriage risks becoming a careful calculation of a potential partner’s financial and material status rather than a union shaped by love, compatibility, and shared purpose. Are we creating social zombies, where people place less value on spiritual and communal values and elevate material success as the supreme feature of life?

The pressure is real, driven not only by cultural messaging but also by systemic financial demands, skyrocketing costs of living, and the scarcity of stable, high-paying jobs. These harsh economic factors create genuine survival anxiety that deeply strains social bonds, making the scramble for security feel like necessity rather than greed. Yet compounding this pressure is the alluring image of a luxurious lifestyle promoted on social media, which intensifies the competitive spirit by making people feel they are missing out on “the good life.” As a result, people are driven to replicate and experience that good life for themselves, often sacrificing moral convictions and, at times, their decency for immediate financial gain and fame. They fail to critically question whether the enchanted and glamorized life represented on social media actually provides depth or enriches a person holistically.

Yes, travel to exotic destinations may have recreational value and may even deepen our experience by exposing us to a different world and making us more aware of livelihoods beyond our own background. However, does that mean everybody should do it? Is it worth it if it comes at the expense of your savings or your future? Few stop to consider the environmental damage it may cause. Bewitched and enchanted by the allure of social expectations and uncritically absorbed notions of a glamorous life, people continually strive to repeat the experience.

At the core of this cultural disposition is a lack of purpose. Cultivating purpose in an age that discourages it requires intentional inward reflection — a deliberate choice to step off the treadmill of external validation and reconnect with what truly sustains the human spirit. Discovering our purpose requires looking beyond the immediate pressures of the world and aligning our daily actions with enduring values. Without it, culture slowly degrades toward materialism, and losing oneself in the process becomes deeply costly.

A purpose-driven life has a long-term orientation. It sees life as a seed and envisions a life of contributing to and nourishing individuals and organizations. A purpose-driven life can endure pain and inconvenience for the sake of the greater good, seeing each day as an opportunity to build something of greater value for future generations. A generation that forgets or becomes indifferent to future generations is a lost generation; it forgets the price that was paid to bring us here. The purpose-driven individual discerns whether organizations and people place the long-term well-being of society at the center of their drive, aligns with that purpose, and rejects anything that goes against it. For such a person, the monetary value a company offers is not the sole standard.

Companies with cost-oriented marketing may have a short-term advantage over purpose-driven organizations. However, when it comes to earning loyal, long-term customers and sustainable profits, success is tied to having a larger purpose that justifies existence. People buy a company’s story before they buy the commodities it sells. If they connect with that purpose, they know that every penny they spend not only fulfills a physical need but also satisfies higher-order needs, such as contributing to a cause and promoting values they hold dear. This model is now widely considered one of the best marketing strategies for attracting support from diverse stakeholders, including the government, the broader society, and customers invested in the product.

Similarly, companies are looking for recruits who possess not only relevant skills and knowledge but also a bold personal and organizational vision that can harmonize with the company’s mission. The old days when a relevant degree and work experience were enough are fading, as employers now pay close attention to individuals who think differently and have the audacity to shape their industries innovatively.

This mutual, purpose-driven interaction among diverse stakeholders is more human and serene. It aligns with the social, personal, and spiritual dimensions of society by focusing on our true selves and communal instincts. This approach also brings sound economic prosperity, ensuring that individuals never lose themselves in the process of making a living.

Ultimately, reclaiming our destiny requires an awakening of the soul. When we dare to anchor our lives to something enduring, we transform mere existence into a legacy of significance, proving that a life measured by deep conviction will always outlive the transient glitter of the material world. Indeed, purpose is actively searching for man, calling us back from the brink of superficiality and reminding us that a life anchored in profound meaning is the true measure of human achievement.

Fetiya Mohammed

0

2. Education: (የት/ት ደረጃ)
    BA in Sociology

3. Company name: (የመስሪያ ቤቱ ስም)
Liyu Liquid Soap Manufacturing and Chemical Supplier

4. Title: (የስራ ድርሻህ)
   Owner
5. Founded in: (መቼ ተመሰረተ)
    2025
6. What it does: (ምንድነው የሚሰራው)

 Providing soap-making training and manufacturing liquid soap


7. Headquarters: (ዋና መስሪያ ቤት)
     Addis Ababa
8. Start-up capital: (በምን ያህል ገንዘብ ስራዉን ጀመርሽ/ክ)
     50,000 birr
9. Current capital: (የአሁን ካፒታል )
    growing
10. Number of employees:(የሰራተኞች ቁጥር)
    2
11. Reason for starting the business: (ለስራው መጀመር ምክንያት)

Being unable to find a satisfactory job that could change my life in my field of study
12. Biggest perk of ownership: (የባለቤትነት ጥቅም)
   
Being your own boss
13. Biggest strength: (ጥንካሬህ/ሽ)
     Creating strong business networks

14. Biggest challenge: (ተግዳሮት)
     Rising cost of raw materials
15. Plan: (እቅድ)
     Opening a training center

16. First career path: (የመጀመሪያ ስራ)
None
17. Most interested in meeting: (ማግኘት የምትፈልጊ/ገው ሰው)
   Successful people in this sector, especially women

18. Most admired person:(የምታደንቂ/ቀው ሰው)
My mother
19. Stress reducer: (ጭንቀትን የሚያቀልልሽ/ለህ)
    
Walking long distances in silence
20. Favorite book: (የመፅሐፍ ምርጫ)
     Qur’an
21. Favorite pastime: (ማድረግ የሚያስደስትህ)
     Watching movies
22. Favorite destination to travel to: (ከኢትዮጵያ ውጪ መሄድ የምትፈልጊ/ገዉ ስፍራ)
Dubai
23. Favorite automobile: (የመኪና ምርጫ)
None

The missing link: From classroom to boardroom

0

There is a need to address the missing link between the level of responsibility entrusted to people and the failures they often exhibit. What metrics should be used to assess whether someone is truly fit for a role? It is clear that corrupt assignment practices based on social relations, ethnic ties, godfatherly favors, and nepotism—forms of identity-based patronage—seriously undermine fairness and narrow the space for merit and healthy competition. This impedes meaningful progress and weakens useful institutional practice. How can we create a rational space that allows capable and skilled individuals to emerge, discharge their responsibilities effectively, and contribute to the betterment of the system?

Many people say the answer is simple: merit-based competency frameworks and transparent track-record verification, supported by oversight and qualification documents that testify to an individual’s experience. But the challenge is that most credential letters from different organizations have become routine instruments of politeness. They often provide warm exit statements, glowing testimonials, and flattering language that wish departing employees well, regardless of actual performance. This creates a weak link between real competence and the documents that are supposed to prove it.

Many organizations default to issuing sanitized exit letters to avoid conflict or to show undue favor. If hiring or promotion decisions rely heavily on such credential letters, the system becomes merit-based in name but patronage-based in practice, because the verification layer is soft and easily manipulated.

This is one of the most frustrating and pervasive challenges in organizational governance. Credential inflation is not a problem limited to one department or one institution. It is a systemic issue that contributes to the failure of many institutions.

To create a rational space where truly capable people can emerge, organizations must stop relying on proxy metrics to evaluate quality. Genuine mechanisms must be developed to bypass soft verification layers and accurately assess a person’s fitness for a role.

To reduce the influence of nepotism and generic recommendation letters, assessment metrics must be observable, quantifiable, and difficult to fake. Instead of simply asking candidates whether they can do a job, give them a real slice of the work. This might mean presenting them with a current, anonymized crisis the organization is facing and asking them to draft a turnaround strategy or complete a similar practical test as a gate exam.

An effective assessment should examine how an individual responds to high-stakes, ethically complex, or ambiguous situations. This helps test judgment and character, not just technical knowledge. During the assessment, candidates should also be required to provide verifiable metrics from a project that failed under their watch, along with the structural changes they implemented to fix it. If they can offer only vague or generic explanations, that should be treated as a warning sign rather than as proof of capability.

Subordinates and peers often know a leader’s true capability better than the executives who hired them. That is why incorporating blind evaluations from a candidate’s former peers—not just their superiors—can help pierce the veil of favoritism in the assessment process. This would reduce the flaws in traditional verification.

It is also possible to conduct background checks by reaching out to shared connections, former clients, or external stakeholders who worked with the candidate, in order to obtain supporting evidence. Going deeper into claimed achievements by asking how they were accomplished, what the budget was, and who else was on the team can help expose exaggerated credit and provide stronger evidence of competence.

Unless fair metrics are established, capable people will continue to be blocked by a traditional evaluation system that relies too heavily on flattering credential letters. There is a serious need to build firewalls against identity-based patronage.

Removing names, gender markers, ethnic identifiers, and even the names of specific universities from the first round of application screening can help evaluators assess candidates more objectively, based purely on their answers to technical or situational questions. This immediately reduces the advantage of social connection at the starting line.

There is also a need for panel-based decisions rather than solo hires. Otherwise, nepotism thrives in the dark, especially when one powerful individual has unilateral hiring and firing power. Decisions for critical roles should be made by a diverse panel that includes stakeholders from outside the immediate department. Each panel member should use a strict, pre-agreed scoring rubric so that subjective “gut feelings” are minimized.

In addition, the best way to counter inflated resumes is to enforce rigorous probationary periods and make the first phase of employment a genuine test. Clear, objective Key Performance Indicators should be set from day one. If the employee fails to meet them because they lack the competence their resume claimed, the contract should be terminated. Probation must stop being a rubber stamp and become the final, most rigorous phase of the hiring process.

A committee or process that automatically approves decisions without real review, critical thinking, or oversight—or a board that simply agrees with whatever the CEO or senior official wants—creates a fatal flaw in the hiring system.

When an employee is hired on probation or a trial period, management has a chance to decide on permanent employment based on actual performance. This may also help address the wider problem of poor educational outcomes that have long gone unnoticed in our country.

This approach can help diagnose persistent problems of nepotism, credential inflation, and rubber-stamp oversight with concrete, observable solutions. It can serve as a comprehensive and effective blueprint for institutional reform.

The recent reality in the national education system, where exam pass rates reportedly dropped to around 3 percent after strict anti-cheating and standardized verification measures were enforced, mirrors this institutional crisis. For years, the education system suffered from its own version of credential inflation. Students advanced, grades were awarded, and certificates were printed, but the verification layer was weak. In that sense, the existence of such a problem is no surprise.

If the credentialing layer that is supposed to certify competence is itself inflated, then every downstream mechanism that relies on “checking the qualification document” is inheriting a corrupted signal from the very beginning. The exit-letter problem described earlier is not an isolated organizational failure; it is the same soft-verification pathology recurring at an earlier stage of the pipeline.

A student who advances through a system with weak grading standards becomes a job candidate with an inflated transcript, who then enters a workplace that hires partly on transcript strength and warm credential letters that serve as testimony for evaluators. Sometimes, someone who was never rigorously tested later sits on a committee to judge whether others meet a standard they themselves never had to clear. In that way, each layer normalizes the next.

Verification is not a single checkpoint; it is a chain. A weak link anywhere upstream propagates forward. A 3 percent pass rate under strict verification, compared with the pass rate under the old regime, is itself a measurement of how much slack had built up in the system. That gap reveals the scale of the inflation problem for the first time.

This matters because “fixing the missing link” and “making up for the fact that it has been missing” are two different projects. You cannot simply restore rigorous verification going forward and call the problem solved. You are left with a large existing population of graduates, credential holders, and evaluators whose paper trail was produced under a broken system.

I believe this reveals a structural failure and the need to rebuild meritocracy from education to employment. We must address the whole missing link in the system and fix the problem through competency-based frameworks.

NBE defends stance amid banks’ liquidity concerns

0

The National Bank of Ethiopia (NBE) is pushing back against calls for increased intervention in managing banks’ liquidity challenges. The central bank asserts that commercial banks are responsible for their own financial management, while its role is limited to providing regulatory frameworks and liquidity instruments.

This debate has arisen following concerns from financial sector experts about growing liquidity pressures on banks. These pressures include sudden deposit withdrawals and increased competition for savings from non-bank financial institutions, such as Savings and Credit Cooperative Societies (SACCOs).

Some experts advocate for the central bank to expand its oversight to identify potential risks to banks’ liquidity and implement preventive measures to safeguard financial system stability. They point to recent challenges faced by some banks, including Global Bank of Ethiopia (GBE), as evidence of vulnerabilities in deposit mobilization and liquidity management, particularly among small and medium-sized financial institutions.

While details of GBE’s recent difficulties remain largely undisclosed, sector sources indicate that sudden erosion of deposits, especially time deposits, was a significant factor. Although governance issues were also identified at GBE, liquidity management has become a broader concern for several emerging banks.

However, NBE Chief Economist and Vice Governor Fikadu Digafe stated that the central bank already provides several support mechanisms and expects institutions to manage their liquidity based on their capacity and business strategies.

“As a basic principle, banks are established by shareholders with the objective of making profits while operating under the rules and regulations set by the central bank. They know their responsibilities and what is expected from them,” Fikadu told Capital.

He highlighted that the NBE has introduced various liquidity management tools, including the interbank money market, standing facilities, and emergency liquidity support mechanisms.

“We have put instruments, codes of conduct, directives, and standing facilities that banks can use to fill their liquidity needs. There are also liquidity and reserve requirements,” he explained.

According to Fikadu, managing deposits, interest rates, and daily operations remains the responsibility of bank management and boards of directors.

“The question is what a bank will do regarding the rise of deposit interest rates and how it will manage its business. The responsibility of running the bank remains with the institution itself,” he emphasized.

This discussion comes shortly after the NBE removed former Global Bank of Ethiopia CEO Tesfaye Boru following a special inspection that uncovered regulatory violations.

The central bank reported that the inspection covered corporate governance, lending practices, human resource management, foreign exchange operations, and overall financial management. The findings revealed deficiencies and breaches of regulatory requirements and internal policies.

The NBE stated that the bank’s board and senior management acknowledged the findings and submitted a corrective action plan. However, the regulator deemed the issues sufficiently serious, especially considering previous warnings issued to Tesfaye, to necessitate stronger action.

Consequently, Tesfaye was removed from his position, effective July 28, 2026, and banned for five years from holding senior executive or board positions in any Ethiopian financial institution.

On Friday, August 7, GBE announced it had implemented administrative measures but did not provide further details.

Meanwhile, experts have expressed concerns about the competition between SACCOs and banks for attracting deposits.

Industry sources indicate that some SACCOs are offering interest rates as high as 35 percent on certain savings products, significantly exceeding the approximately 26 percent offered by commercial banks on time deposits.

While acknowledging the crucial role SACCOs play in expanding financial access and serving communities underserved by traditional banks, experts argued that aggressive deposit mobilization by SACCOs could put additional pressure on banks, particularly smaller ones.

They also questioned whether the current regulatory framework for SACCOs adequately addresses their impact on the broader financial sector.

Fikadu explained that SACCOs are not regulated by the NBE because they are not classified as deposit-taking financial institutions under the central bank’s mandate.

“SACCOs have never been under NBE regulation, so the central bank has no role in regulating them,” he stated.

He maintained that liquidity within the banking system remains under the central bank’s supervision and that monetary policy tools enable the regulator to manage inflationary pressures.

“We can monitor liquidity at banks, and inflationary behavior is fully controlled through the monetary system. Since currency circulation occurs either within or outside banks, controlling these channels allows us to manage liquidity,” he explained.

Nevertheless, experts contend that as Ethiopia’s financial sector expands and competition intensifies, enhanced coordination among financial regulators will be essential to safeguard financial stability and maintain public confidence in the banking system.