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Awash Bank receives recognition in Global SME Finance Awards

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By our staff reporter

Top tier financial firm, Awash Bank, receives one of the Global SME Finance Awards for the 2023 year.

This year’s Global SME Finance Awards 2023 which recognizes financial institutions and fintech companies for their outstanding achievements in delivering exceptional products and services to their SME clients was held in Mumbai, India last week in the presence of over 700 participants from more than 70 countries in person and virtually.

Organized by the SME Finance Forum, a forum managed by the IFC, the private sector wing of World Bank Group, and endorsed by the G20’s Global Partnership for Financial Inclusion (GPFI), the Global SME Finance Awards had four categories and cross all categories, a record 165 applications were submitted from 120 different institutions, with 30 applications being identified by an independent, expert panel of 85 judges as winners.

Awash Bank was recognized by the SME Finance Forum with an Honorable Mention in the Best SME Financier category of the Global SME Finance Awards 2023 from Africa. The bank competed for the award with the COVID Recovery and Resilience Project (CRRP), a credit guarantee facility that has been implemented in collaboration with Mastercard Foundation and First Consult.

More than 7,800 MSMEs have benefited from the project with almost all of them being first-time borrowers with no prior credit history. A loan amounting to 702 million birr plus was disbursed on clean basis or against personal guarantees, of which more than 500 million birr has been repaid back thus far with the NPL ratio remaining at a single digit against the total amount granted. Over 40,000 jobs that could have been lost owing to the pandemic were sustained and/or created by this specific project, the bank disclosed.

The bank has been synonymous with unheard of guarantee fund projects in Ethiopia, which typically serve a handful of businesses as opposed to in the thousands.

The bank said that it has been selected from the most competitive pool of applicants ever, “Although much more needs to be done by Awash Bank in this arena.”

Exhibitors flock the 4th AAPHCE to showcase latest innovations

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By Eyasu Zekarias

The 4th All Africa Postharvest Congress and Exhibition (AAPHCE), under the theme, “Sustainable Postharvest Management; Boosting Intra-African Agricultural Trade and Enhancing Food and Nutrition Security” has successfully been held.

The four day program which was hosted at the African Union Headquarters in Addis Ababa, Ethiopia ran through September 19 to the 22nd, where issues such as strengthening partnerships to promote sustainable post-harvest practices, new technologies to reduce production losses, polices and strategies were addressed by pertinent parties concerned.

More than 450 farmers, extension agents, traders, researchers, academicians, innovators, police officers, development partners and other stakeholders including private sector representatives attended the event.

Addis Ababa University Associate Professor of Food and Nutrition, Ashagre Zewudu (Dr.), who participated in the AAPHCE pointed out that Ethiopia’s postharvest is up to 70 percent while the production loss feeds was at about 25 million people.

African Union Commission Commissioner for Agriculture, Rural Development, Blue Economy and Sustainable Environment, Ambassador Josepha Leonel Corria Sacko, World Resources Institute Vice President and Regional Director for Africa Wanjira Mathai, African Continental Free Trade Area (AfCFTA)Secretary General Wamkele Mene, during their individual opening speeches at the congress on Tuesday, highlighted that, “Post-harvest wastage continues to be a development challenge in Africa, and in order to avoid this, all parties concerned should liaise with each other to combat the situation.”

This year’s congress saw more than 1300 participants, from 100 plus organizations across 45 countries attending the event.

Adwa Victory Day to be marked on new grounds

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By our staff reporter

The upcoming 128th anniversary of the Battle of Adwa is expected to be honored in the majestically newly built facility, Adwa Zero Kilometer Museum Project around the vicinity of Emperor Menelik II Square at the heart of Addis Ababa.

The Adwa Victory Day, which is a national holiday in Ethiopia, celebrated on every March 2, in commemoration of Ethiopian victory against Italy’s colonization effort at the Battle of Adwa in 1896, has since time in memorial been celebrated in front of St. George’s Cathedral and the Addis Ababa City Administration building. This upcoming ceremony is now expected to be celebrated in pomp in a new venue courtesy of the Adwa Zero KM project nearing full completion in a couple of months.

According to the Addis Ababa City Administration Mega Projects Office, the project, which is among the several huge projects handled by the city government in the capital has achieved over 87 percent completion and is well on its way to be accomplished within the coming three months.

The Adwa Zero Kilometer project, which is located centrally, is a popular location since it is adjacent to the capital city’s municipality. The area now combines different facilities including offices, recreation centers, shops besides the memories and museum of the Victory of Adwa that commemorates heroines and heroes, who led the battle and scarified themselves in the battlefield, “It is designed and build to show our forefathers brevity and the continuing struggle of the generation who is working strongly to change the country.”

Dawit Tibebu, Contract Administration Director at Mega Projects Office disclosed that the project is on its final stage, “The facility is on its accomplishment level that all necessary finishing materials have arrived at the site.”

According to Dawit, the facility that is stated as suitable for visitors will be open to the public in the near future.

The complex structure is said to be erected with a combination of latest construction standards and high technology at a cost of 4.6 billion birr.

The facility is being constructed by renown, Chinese Jiangsu International ETCG Ltd on a 3.3 hectare of land covering the space that was fenced prior to the project commencing about four years ago.

The project has 11 blocks with a total area of 45,000 square meters.

The building will accommodate art works that show the history of the Battle of Adwa, archive and research center, cafeterias, two cinema halls, playground-indoor games and children playground, fitness center – aerobics and gymnasium, and of course shops since the area, Piassa, is also well known as a shopping destination in the city.

According to the design, the biggest hall in the city will be located in the same facility, with a multipurpose hall with up to 4,000 seats capacity besides city hall’s 2,000 seats.

The city council and councilor’s office is also said to be moved to the new facility.

According to the Mega Project Office, the facility will have taxi and bus terminals with 1,000 parking lots that is expected to clear the surrounding location making it more attractive and suitable as a walkway for city dwellers.

Religious leaders can help bring about world peace – opinion

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To build a new system of international security, the world requires a new global movement for peace. I believe the role of religious leaders will be indispensable here.

By KASSYM-JOMART TOKAYEV 

It is not a secret that the world is witnessing rising international tensions and erosion of the global order that has been in place since the establishment of the United Nations. Divisive blocs, which have not been seen since the Cold War, are making a swift return. As a result, our planet is facing severe threats, including a new global arms race, the threat of the use of nuclear weapons, and the proliferation of wars in all formats, including hot, hybrid, cyber, and trade.

In this atmosphere of tension and increasing geopolitical turbulences, it is vitally important to develop new approaches to strengthening inter-civilizational dialogue and trust.

Diplomacy is, undoubtedly, key to facilitating cooperation. Kazakhstan has always supported solving disputes exclusively at the negotiating table based on the UN Charter. Our country has consistently promoted principles aimed at achieving lasting peace, security, and sustainable progress across the world.

Despite best efforts, conflicts remain ubiquitous in many regions of the world.

To build a new system of international security, the world requires a new global movement for peace. I believe the role of religious leaders will be indispensable here. Approximately 85% of the world’s people identify with a religion, making it a significant factor in our lives. Religious leaders therefore have a significant influence on global affairs. Moreover, the sacred value of human life, mutual support, and the rejection of destructive rivalry and hostility are a set of principles shared by all religions. As a result, I am convinced that these principles can form the basis of a new world system.

How can religious leaders help push for world peace?

How can this work in practice?

Firstly, religious leaders can contribute to healing the wounds of hatred following an enduring conflict. Syria is a case in point. Kazakhstan welcomes the fact that hostilities have all but ended in that country. We are glad to have contributed to this through the Astana Process peace talks, which since 2017 facilitated negotiations between representatives of the Syrian government, the opposition, as well as Turkey, Iran, and Russia.

Yet while the hot phase of the conflict is over, the divisions within the country remain. Spiritual leaders can play an important role in healing Syrian society through the power of religion.

Secondly, human nature is contradictory. There will always be provocations and hatred. Recent actions to burn the holy Quran in a number of northern European countries are negative trends that undermine the culture of tolerance, mutual respect, and peaceful coexistence. In this regard, the targeted communication of religious leaders in preventing such situations and trends is crucial.

Thirdly, new technologies are radically changing all spheres of human life. These changes are mostly for the better, including improved healthcare, unlimited information online, and ease of communication and travel. At the same time, we observe how societies are being fragmented and polarized under the influence of digital technology.

In the new digital reality, it is also necessary to cultivate spiritual values and moral guidelines. Religion has a key role to play here, too, as all faiths are based on humanistic ideals, recognition of the supreme value of human life, and the aspiration for peace and creation.

These fundamental principles should be embodied not only in the spiritual sphere, but also in the socioeconomic development of countries and international politics.

Without reliance on humanistic ideals and ethics, the rapid scientific-technological revolution can lead humanity astray. We are already witnessing such debates with the advent of general artificial intelligence.

Ultimately, moral authority and the word of spiritual leaders is crucial today.

That is why I am proud that for 20 years, Kazakhstan has been hosting the triennial Congress of Religious Leaders. Established in 2003 in direct response to the rise in interfaith disagreements and extremism following the 9/11 terrorist attack in the United States, the Congress has strengthened interfaith dialogue by bringing together religious leaders.

It has enabled meaningful dialogue on ways to combine efforts to promote better understanding between representatives of different cultures and religious communities.

Prior to becoming the president of Kazakhstan in 2019, I had the honor to serve as head of the Secretariat of the Congress.

I observed how the Congress promoted tolerance and mutual respect in contrast to hatred and extremism.

Last year, our country held the Seventh Congress of Religious Leaders. It was attended by delegations from 50 countries, including representatives of Islam, Christianity, Judaism, Shintoism, Buddhism, Zoroastrianism, Hinduism, and other religions. I was honored to welcome Pope Francis, the second visit by the head of the Catholic Church to Kazakhstan following the visit by Pope John Paul II in 2001.

Over the past two decades, the Congress became a platform for inter-civilizational dialogue at the global level. I believe it made a significant contribution to Kazakhstan’s success in forging a stable and harmonious society from a population made up of more than 100 ethnic groups and 18 confessions that live in peace in our country today.

Through its commitment to religious tolerance and human rights, Kazakhstan sets an example for the world, showcasing the importance of interfaith dialogue in creating a more peaceful and harmonious global society.

As the world continues to be embroiled in political uncertainty, a bridge of rapprochement between cultures and civilizations is required more than ever. I am determined to ensure that Kazakhstan facilitates global dialogue between religions and nations, including through the work of the Congress of Religious Leaders, thus contributing to mutual understanding and respect in societies.

The writer is the president of Kazakhstan.

https://www.jpost.com/opinion/article-758941

Published: SEPTEMBER 14, 2023 02:29