By our staff reporter

The Ethiopian Media Council (EMC) convened its annual general meeting at Elilly Hotel on Thursday, March 27, to deliberate on critical issues facing the media landscape in the country. Amidst concerns regarding security and budget constraints, council members underscored the need for enhanced measures to protect journalists and bolster the council’s operational capacity.

Highlighting the challenges impeding the council’s ability to fulfill its objectives, members emphasized the imperative of addressing security concerns and securing adequate funding. Despite facing obstacles, the council remains steadfast in its commitment to advancing press freedom and promoting professional journalism within legal frameworks.

Established in 2016 and officially registered in 2019, the Ethiopian Media Council serves as the umbrella organization for media entities, community media, and journalists across Ethiopia. With a mission to foster democracy, prosperity, social stability, and the rule of law, the council plays a vital role in safeguarding human rights and fundamental freedoms in the country.

Council members, comprising publishers, broadcasters, and media associations, reiterated their dedication to supporting journalists’ capacity building and upholding professional standards. Central to their agenda is the promotion of press freedom and the protection of media outlets from unlawful government interference.

In addition to advocating for journalists’ rights and safety, the council aims to combat illegal practices that undermine press freedom and impede the media’s role as a watchdog in society. By fostering collaboration among media organizations and advocating for regulatory reforms, the council seeks to create an environment conducive to transparent and accountable journalism.

As Ethiopia navigates complex challenges in its media landscape, EMC remains committed to championing the principles of democracy, transparency, and freedom of expression. With concerted efforts and strategic initiatives, the council aims to overcome obstacles and realize its vision of a vibrant and independent media sector that serves the interests of the Ethiopian people.

The BimaLab Ethiopia program, a transformative initiative aimed atwhich aims to drivinge innovation in the insurance sector, celebrated its inaugural Demo Day with the announcement ofby announcing its cohort winners: Ekub, Lersha, Hulucares, and CICO. Each of these innovative startups will receive $10,000 in prize money to further develop their solutions.

Organized by FSD Ethiopia in collaboration with FSD Africa and the Bill and Melinda Gates Foundation, the Demo Day marked the culminationend of a four-month journey for the cohort, which consistinged of 10 startups and 4 corporates. The program has been instrumental in fostering innovation and positive change in Ethiopia’s insurance sector since its inception.

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FSD Ethiopia, a newly established development agency launched in May 2022, spearhleads the BimaLab Ethiopia program with funding from the Bill and Melinda Gates Foundation, in collaboration with FSD Africa and the National Bank of Ethiopia. The agency serves as a market facilitator, providing technical, financial, and networking support to stakeholders in the financial sector.

Abel Taddele, Director of Financial Inclusion at FSD Ethiopia, emphasized the significance of hosting the inaugural BimaLab Ethiopia Demo Day in fostering innovation and entrepreneurship in the insurance technology landscape. He highlighted the active participation and engagement of each cohort member throughout the program, which contributed to the success of the event.

 event’s success.

Partnering with the Bill and Melinda Gates Foundation has enhanced the program’s impact, creating an environment conducive to innovation and entrepreneurship. The National Bank of Ethiopia has also played a crucial role in supporting the program, recognizing the importance of fostering innovation in the insurance sector.

 

TDuring the Demo Day featured presentations from, cohort members, showcasing presented their innovative solutions to investors, industry experts, and stakeholders. The announcement of the winners was a highlight of the event, with cash prizes awarded based on innovation, impact, and potential for growth, supporting their journey towards success.

Overall, FSD Ethiopia aims to support the development of accessible, inclusive, and sustainable financial markets for economic growth and development in Ethiopia.

By Eyasu Zekarias

The ongoing dispute between Purpose Black Ethiopia and BGI Ethiopia, a major alcoholic beverages producer, has taken a legal turn as the court approves a motion to freeze BGI’s assets, including bank accounts and immovable properties.

The conflict stems from the termination of a contract for the sale of BGI’s head office building, a negotiation that had been ongoing for the past eight months. Purpose Black Ethiopia, along with BGI, was involved in the negotiations, but disagreements ultimately led to the deal’s collapse.

On March 7, 2024, Purpose Black Ethiopia successfully petitioned the court to block BGI Ethiopia from accessing its assets and bank accounts, alleging potential embezzlement. The motion was granted, with the ban set to remain in place until March 26, 2024.

Wubishet Demese, CEO of Habesha Legal Firm and external legal advisor to Purpose Black, confirmed the court’s decision, highlighting the urgency to prevent financial misconduct amid the ongoing dispute.

The dispute traces back to a bid won by Purpose Black Ethiopia in July 2023, securing the purchase of BGI’s headquarters for five billion Birr. However, negotiations faltered, leading to the termination of the sales contract on March 4, 2024, citing a lack of commitment from Purpose Black Ethiopia.

In response, Purpose Black Ethiopia refuted the termination, asserting that BGI failed to fulfill necessary requirements for the contract’s completion. Ermias Birhanu, senior legal advisor to Purpose Black Ethiopia, emphasized their readiness to fulfill financial obligations once the contract terms were met.

Meanwhile, BGI contended that Purpose Black Ethiopia lacked the financial capacity to execute the transaction, leading to doubts about their ability to meet payment obligations. Nega Mihrete, BGI’s legal advisor, outlined the challenges in reaching a consensus and defended BGI’s decision to terminate the agreement.

The legal standoff culminated in court intervention, with the freeze on BGI’s assets pending further resolution. The court’s decision follows a petition filed by Purpose Black Ethiopia, which claimed to have paid a substantial sum towards the purchase, urging protection against potential financial losses.