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Ethiopia and Finland: solving 21st century challenges with longstanding partnership

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By Ville Tavio

The year 2024 marks the 65th anniversary of Ethiopia and Finland’s diplomatic relations. The two countries’ bilateral relations are based on long-term and successful development cooperation since 1967. Nowadays the partnership between Ethiopia and Finland stands as an example of international cooperation based on shared interests and reciprocal respect. The two countries share more similarities than might meet the eye.

In 1917 Finland gained independence from the Russian Empire. At the time, Finland was one of the poorest countries in Europe, less developed than today’s Ethiopia, with an average life expectancy of only 46 years. The transition to independence was tumultuous, leading to a brutal civil war that claimed approximately 39 000 lives. In the aftermath of the war, the nation was more divided than ever. The country was grappling with instability fueled by rapid population growth, industrialization, urbanization and need for modernization.

How does a nation heal from such deep wounds? For Finland, addressing poverty and inequality became paramount. The deep disparities in well-being threatened the stability of both society and the economy. Ensuring internal stability required giving everyone a stake in the nation’s economic progress, making equal opportunity for all a key objective. Thus, Finland embarked on creating a welfare society that offered healthcare, education, and opportunities to everyone equally. This could not have been achieved alone. Finland was a recipient of development aid and loans from the World Bank. Now Finland is among the financier countries.

Gender equality and education for all were foundational to our newly independent society. Women had achieved universal suffrage and access to higher education even before independence. Especially after the wars in the 1940’s, the idea that equality and inclusion could bring prosperity by harnessing everyone’s potential guided Finland’s development. Inclusion is rooted in the belief that societies are stronger when every voice is heard, regardless of gender, disability, or age. Gender equality and equal opportunities to education quickly became Finnish exports. With a challenging development history, Finland also saw the advantage of seeking partnerships in development and trade early on.

No national history is the same, but aspects of Finnish history might sound familiar in present day Ethiopia. The key lesson for Finland has been to build a society where no one is left behind. This is also what the Ethiopian-Finnish partnership is all about.

Ethiopia and Finland have long cooperated in the education, WASH (water, sanitation and hygiene) and agriculture sectors. According to our experience, investing in education and the entire knowledge chain from early childhood to higher education, science and innovation can transform a nation from a poor and rural society into a thriving economy. To address this, Ethiopia and Finland are working together to strengthen inclusive education and education in emergencies in Ethiopia, ensuring every child’s access to school. A major aspect of these partnerships is national ownership of the projects and the agency at national, regional and community level.  

In the WASH sector, Ethiopia and Finland are celebrating 30 years of collaboration this year. This collaboration commenced in 1994 with the Rural Water Supply and Environmental Program in the Amhara Region. Nowadays, the collaboration continues in a project called COWASH IV.

Ethiopia is already well on its way to growth, the country is one of Africa’s fastest growing economies with a young and dynamic population. Finland’s country programme in the development sector in Ethiopia is renewed for a new four-year period, but the countries are simultaneously seeking more and more opportunities in trade and investments. A key area of recent collaboration is digitalization and networks, since the recent openings in the telecom sector. Finnish high-tech company Nokia is already present in Ethiopia and working in widening the accessibility of Internet connectivity. The EU and the Finnish state-owned development financier Finnfund have recently launched the Global Gateway Africa Connected programme that aims to mobilise one billion euros for investments in digital infrastructure and solutions in Africa. Ethiopia is one of the programme’s partner countries. Investment in the digital leap is improving access to information, enhancing educational resources, and creating new economic opportunities.

As for future challenges, climate issues affect us all. Both Ethiopia and Finland place a high value on sustainable development and environmental stewardship. Their partnership addresses the adaptation to climate change. One adaptation solution, where private sector solutions can play a big role, is meteorology, including early warning systems. Proper meteorological services and early warning mechanisms are one of the best and most cost-effective ways to adapt to climate change. Finnish Vaisala Corporation and the Finnish Meteorological Institute are already working on a project with the Ethiopian National Meteorology Agency improving the agency’s weather observation systems. The improved observation systems will ensure that timely and accurate information about natural hazards and impending disasters reaches the citizens and weather-critical sectors, such as agriculture.

In an increasingly interconnected world grappling with shared challenges, the Ethiopia-Finland partnership offers valuable lessons. It shows that enduring relationships are built on trust, respect, and a commitment to mutual benefit. As international challenges become more complex, collaborative spirit and partnerships benefitting all parties become increasingly important in finding solutions to problems like stabilizing the economy, climate change and setting equal opportunities for all.

Ville Tavio is Finland’s Minister for Foreign Trade and Development

Xchange Box Celebrates a Successful Participation at GITEX Africa Morocco, Highlighting Innovative Agency Banking Platform and Continued Commitment to Financial Inclusion in Africa

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Xchange Box, a leading Nigerian fintech startup focused on financial inclusion, concluded its participation at the prestigious GITEX Africa (https://GITEXAfrica.com) Morocco, held from 29th to 31st May,2024 in Marrakech. The event served as a springboard for Xchange Box to showcase its innovative Agency Banking platform, PayRep, and connect with a vibrant community of industry leaders shaping Africa’s digital future. XchangeBox was represented at the event by her Co-founder and CCO, Abiola Jimoh. He is a venture builder with over 15 years’ experience in business incubation, partnership and growth development. Prior to co-founding XchangeBox, Abiola worked in the mobile money industry as an in-house counsel alongside his cofounders. He has also worked as an Associate in law firms and as Advisor to bluechip companies. He studied law from Obafemi Awolowo University, Ile-Ife Nigeria.

Download document: GITEX Africa Morocco 2024 Questions – Nigeria: https://apo-opa.co/3Xqf2nf

Download document: XBS Pitch May 2024: https://apo-opa.co/45pWQvY

He currently serves on the Board of companies in the agritech sector as well as payments. His business focus is on rural traders, and farmers giving them access to pension remittances, health insurance, government bills payments and micro loans for micro businesses in rural areas leveraging on Agency Banking Networks.

Revolutionizing Financial Inclusion through PayRep

Xchange Box’s presence at GITEX Africa 2024 was marked by a high level of interest in PayRep, its Agency Banking platform. The platform allows Point-of-Sale (POS) terminals in rural communities across Nigeria to become hubs for essential financial services, including health insurance enrollment and subscription payments, pension remittances for rural traders and farmers. This innovative approach has the potential to revolutionize financial inclusion for underserved communities, bringing crucial services to over 40,000 farmers and traders across Nigeria.

Positive Feedback and Strategic Connections

The event connected us with key people who expressed keen interest in how PayRep can streamline financial services access in rural areas and unlock new growth opportunities for underserved communities. The event also provided a valuable platform for Xchange Box to engage with established industry leaders and potential partners who share their commitment to financial inclusion in Africa. These connections will undoubtedly lead to exciting collaborations in the future.

Attracting Investment in Nigeria’s Booming Tech Ecosystem

Xchange Box is a prime example of a Nigerian startup attracting investment in the country’s burgeoning tech ecosystem. The company leverages a combination of debt financing, grants, and donor funds to fuel growth. Currently, Xchange Box is raising its first fund to deepen its growth and expansion model, fostering further financial inclusion across the continent.

Positioned for Success: A Roadmap to Growth

Xchange Box’s roadmap to achieve significant growth involves scaling operations, expanding its user base, and diversifying its product offerings. The company acknowledges potential challenges, including regulatory hurdles in targeted expansion regions, market competition, and securing sufficient capital. However, Xchange Box’s commitment to strategic partnerships, continuous innovation, and a customer-centric approach positions them to overcome these challenges and achieve their ambitious goals.

Xchange Box: A Leader in Shaping Nigeria’s Digital Future

Xchange Box recognizes the critical role of technology in shaping Nigeria’s digital future. The company actively participates in industry events like GITEX Africa Morocco to stay ahead of emerging trends.  They prioritize talent development, research and development, and strategic partnerships to ensure their products and services remain relevant and competitive. Additionally, Xchange Box fosters a culture of continuous improvement through customer engagement, ensuring their offerings meet the evolving needs of the communities they serve.

Building a More Inclusive Future for Africa

Xchange Box’s commitment to financial inclusion extends beyond product development. Community engagement and social responsibility are central to their mission and growth strategy. The company actively participates in community development projects, mentorship programs, and initiatives aimed at promoting financial literacy and inclusion. This dedication demonstrates Xchange Box’s commitment to building a more inclusive and prosperous digital future for Africa, not just through innovative technology but also through a deep understanding of the needs and challenges faced by underserved communities.

Xchange Box’s successful participation at GITEX Africa Morocco underscores their dedication to financial inclusion and their position as a leader in shaping Nigeria’s digital future. The company’s innovative solutions and commitment to social responsibility position them to make a significant impact on the lives of millions across Africa.

Distributed by APO Group on behalf of GITEX Africa.

African Energy Chamber (AEC) Sponsors Nigeria’s National Judicial Institute (NJI) Workshop on Petroleum Industry Act, Promotes Judicial Support for Oil & Gas (O&G) Projects

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The African Energy Chamber (AEC) (www.EnergyChamber.org) – the voice of the African energy sector – is sponsoring a workshop led by Nigeria’s National Judicial Institute (NJI). The workshop – held under the theme Innovations Under the Petroleum Industry Act 2021 and their Implications in Adjudication and in partnership with Investin234 Promotion Services Limited – aims to equip members of the Nigerian judiciary with comprehensive knowledge of the recent changes in the oil and gas sector brought about by the Petroleum Industry Act (PIA) of 2021. This initiative is essential for creating an enabling environment, ensuring the sanctity of contracts and restoring both investor and citizen confidence in Nigeria’s oil and gas industry.

The AEC’s sponsorship aligns with its strategic focus on promoting research and development in the petroleum and gas sectors. The workshop offers a platform for the Nigerian legal industry to enhance investor confidence, promote Nigerian content in oil and gas disputes, and provide valuable industry feedback to the judiciary. For the AEC, sponsoring this workshop is more than just a gesture of support; it is a strategic move to fortify the judicial framework that underpins the energy sector.

The International Chamber of Commerce in Nigeria estimates that Africa loses billions of dollars annually to business arbitrations conducted abroad. This is due to delays in the court process and a lack of sector-specific knowledge among adjudicators, which hampers the Nigerian economy and undermines local content aspirations. The Petroleum Industry Act 2021 – a framework for the oil and gas industry – introduces major changes in fiscal requirements, regulatory frameworks and governance structures. For these changes to be effective, the judiciary must be well-versed in the new regulatory environment and its implications. The AEC believes a knowledgeable judiciary is crucial for resolving disputes efficiently within Nigeria and the rest of Africa, saving costs, enhancing investor confidence and promoting local content by keeping arbitration and its benefits within the country.

“A well-informed judiciary not only ensures fair adjudication but also fosters an environment conducive to sustainable investment and equitable growth,” states NJ Ayuk Executive Chairman of the AEC. “This collaborative effort between the energy sector and the judiciary not only strengthens the rule of law but also promotes transparency and accountability, essential pillars for fostering a thriving energy ecosystem in Nigeria and beyond.”

Bringing the judiciary up to speed with oil industry regulations is critical, especially in light of major developments such as Golar LNG’s recently launched FLNG project in the country. On June 10, the Nigerian National Petroleum Corporation signed a Project Development Agreement with LNG company Golar LNG for a FLNG facility offshore the Niger Delta. The project aims to monetize 400-500 million standard cubic feet per day (mmscf/d) of gas. Additionally, Nigeria recently commenced operations for three gas projects, including the expanded AHL Gas Processing Plant, the ANOH Gas Processing Plant and the 23.3km ANOH to Obiafu-Obrikom-Oben Custody Transfer Metering Station Gas Pipeline. These projects aim to collectively supply approximately 500 mmscf/d of gas to the domestic market, resulting in a 25% increase in gas supply.

Recently launched, Nigeria’s latest licensing round introduces 12 deep offshore and shallow water oil blocks, incorporating five blocks from the previous year’s round. Open for bidding until January 2025, the licensing round aims to attract both local and international explorers to the country’s acreage, with the overarching goal of expanding its reserve base and optimizing production.

In light of these initiatives, it is clear that judicial comprehension and adherence to regulations play a pivotal role. A robust legal framework ensures the fair allocation of licenses, transparent bidding processes, and the enforcement of contractual obligations. Moreover, regulations provide the necessary guidance for exploration activities, safeguarding environmental sustainability and ensuring compliance with industry standards.

Distributed by APO Group on behalf of African Energy Chamber.

African Management Institute (AMI) added $130M to African economies and impacted 1.5M livelihoods in first decade through support for 37,000 African businesses

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The African Management Institute (AMI) (www.AfricanManagers.org) has released its 2023 annual impact report, titled 10 Years as An African Champion for Africa’s Business Champions (https://apo-opa.co/4bWxnN4), which highlights how Africa’s leading business and management learning company impacted 1.5 million livelihoods in the last decade through its support of 37,000 African businesses. 

Download document: https://apo-opa.co/3RrmPgK

The report underscores the impact of AMI’s practical learning programmes on business growth and job creation at scale across the continent, with 97,000 jobs created and $130 million in incremental small business revenue generated – with an outsized impact for youth and women.

“Africa’s businesses and employees are the continent’s engines of growth and prosperity. Through our decade of providing Africa’s ambitious businesses with practical tools and training, we know that businesses grow faster and people perform better when they engage in practical business learning that can be immediately applied on the job,” said Rebecca Harrison, CEO and co-founder of AMI.

“We’re particularly proud of our work with thousands of talented women business leaders across Africa. Our latest data shows women and youth outpace the average on all key business metrics, including revenue growth, job creation and access to finance.”

AMI was founded in 2013 to address the lack of effective and scalable business and management learning for Africa’s ambitious business owners and teams.

The report outlines lessons and stories from AMI’s high-impact model for business learning and growth support at scale.

“We knew that traditional training couldn’t achieve real change. Our approach had to be obsessively focused on practice – providing business owners and their teams with practical tools to underpin the daily habits and behaviors needed to build strong companies,” emphasized Jonathan Cook, AMI’s co-founder and chairman. “In our first ten years, that’s what we’ve delivered and as Africa’s ambitious businesses continue to grow, we’re looking forward to the next decade of spurring further growth.”

Report Overview:

Since 2013, AMI has:

Resulted in SMEs generating $130 million in incremental revenue
Reached 37,000 businesses with its practical training programs.
Facilitated the creation of 97,000 direct and indirect jobs.
Enabled an average annual revenue growth of 18% for businesses post-Covid
Enhanced 1.46 million livelihoods across Africa

Key Findings of the Report – 2023 Results

Youth and Women-Owned Businesses:
Women-owned businesses accounted for more than half of those supported. Women and young entrepreneurs outpaced men in nearly every growth metric:

Spotlight on Women in 2023

50% of all participants and 51% of entrepreneurship program participants in 2023 were women.
Women-led businesses created an average of 1.4 jobs each per year, surpassing the overall average of 1; 26% of jobs created were for women
Women-led businesses had a median annual revenue growth of 20%, exceeding an overall average of 18%.
Women-led businesses accessed higher finance amounts ($33,667) compared to male-led businesses ($26,833), with co-led businesses accessing even more ($45,737)

Spotlight on Youth in 2023

81% of participants were youth (age 34 and below).
Youth-led businesses achieved an annual revenue growth of 24.62%, significantly higher than the average
Youth-led businesses also had a higher three-year CAGR at 20.23%.

High Return on Investment:

AMI delivers sector-leading impact and cost efficiency;

For every $1 invested in an AMI programme, businesses generated $48 in revenue, with an estimated 25% of that directly enhancing employee incomes.
In 2023 businesses in AMI programmes saw 18.69% median annual revenue growth
The top 50 performing businesses created an average of 15.4 jobs each in 2023 and grew their revenue by an average of 169% in one year.

MSMEs Access to Finance in 2023:

39.5% of participants accessed finance (an increase from 2022).
77% of those accessing finance obtained loans.
Average finance amount was $30,800 (, with a median amount of $4,405).
The range of finance raised was $33-$1.2 million.

Entrepreneur Endorsed:

88% of entrepreneurs reported that they either would not have or may not have achieved their growth without AMI’s support.

Distributed by APO Group on behalf of African Management Institute.

To download the report visit: https://apo-opa.co/4bWxnN4 

About AMI:
The African Management Institute (AMI) enables ambitious businesses across Africa to thrive, through practical tools and training. AMI has reached more than 37,000 businesses and participants from over 39 countries across Africa have been trained and equipped by AMI to grow their business, improve leadership and management, and strengthen their teams. With offices in Kenya, Nigeria,  Rwanda, Senegal, South Africa, and Uganda, the company has over 100 staff with a presence in 10 countries.

AMI is a recognized leader in Africa’s business and management learning sector and was ranked by the Financial Times as the second fastest-growing company in the education category on the Africa’s Fastest Growing Companies 2024 list (https://apo-opa.co/3VzUyH7).

Learn more about AMI at www.AfricanManagers.org