European Union special representative for human rights calls on Ethiopia to fully implement the recommendations of the human right reports.
EU special representative for the horn of Africa, Eamon Gilmore, has paid a three-day visit to Ethiopia starting from May 16-18. During his visit, the special representative met with high government officials including president Sahile-work Zewde and Deputy Prime Minister Demeke Mekonen.
During the press conference on May 18, the EU special representative said that currently there are three main issues that need to be addressed as the EU member state prep for a ministerial meeting which will be held in June to decide on the Union’s financial and overall re-engagement with Ethiopia.
The first issue that requires attention is noted to be the humanitarian situation in the country. “There have been difficulties in getting humanitarian assistance,” said Eamon with the difficulties cited to be from issues in administration, permits, and related to humanitarian routes. The national dialogue and human rights as well as the issue of accountability are also said to be the other two main issues.
“We have been shocked by the reports from the course of the past year and a half or more, which have emerged of very serious human rights violations and violations of international humanitarian law,” said Eamon Gilmore adding, “we’re keen to see follow up on those reports and accountability for the perpetrators of the human rights violations, which have occurred irrespective of when they occurred, where they are, or who they are.”
“We’ve seen here on extrajudicial killings, involving serious sexual violence and gender based violence during the course of the conflict,” Eamon said whilst highlighting the plight that the people of the country have gone through as victims of human rights violations.
The representative asserts that even though the joint investigation by the Ethiopian Human Rights Commission (EHRC) and the Office of the United Nations High Commissioner for Human Rights (OHCHR) is supported by the Union, it is also keen to see more follow-ups done on the report.
“The issue is implementations of recommendations which the 27 foreign ministers will ask in the June meeting,” underlined Eamon as he explained that the members States will decide on the Union’s financial and overall re-engagement with Ethiopia, adding, “we want to contribute on the humanitarian efforts hence our main concern is to move a side the obstacles.”
The special representative will also represent its report of the visit on next meeting of the Human Rights Dialogue, which will take place in Brussels in early December.
Implementing human rights recommendations proves vital ahead of EU ministerial meeting
Ethiopia edges closer to the stock exchange
Ethiopia prepares to launch its own stock market exchange within two years time.
On Wednesday May 18, 2022 Ethiopian Investment Holdings /EIH/, Ministry of Finance and Financial Sector Deepening Africa /FSD Africa/ signed an agreement to establish the Ethiopian Security Exchange /ESX/, stock exchange in Ethiopia.
Through the corporation FSD Africa will fund technical support legal advice, and the costs associated with getting the exchange operational.
As Mark Napier, CEO of FSD Africa informs Capital, it will take 18 months to two years to launch the stock exchange. “We are now in the process and preparations for the launching, and the government wants an intermediary but there are things and steps we need to go through in order to launch the exchange,” explained Mark highlighting that the process will take about two years for the exchange to come to fruition.
The exchange is designed to provide a fundraising platform for small and medium-size enterprises. Furthermore, the exchange will also offer a platform for the privatization of Ethiopia’s state-owned enterprises.
It is indicated that ESX will serve as a key market institution that will provide Ethiopian entrepreneurs and businesses with access to long term finance.
As the owner and manager of state-owned companies, EIH is said to serve as the wind underneath ESX’s wings by floating minority shares of selected companies under its management.
At least fifty companies, including banks and insurance companies, are expected to list at the launch of the exchange.
“This will bring about opportunity for young entrepreneurs skilled professionals and most importantly to drive our citizens in developing a robust business with access to capital and source of funds and national digital payments strategy,” said Ahmed Shide, Minister of Finance.
Following the agreement signed between the two government bodies and FSD Africa on Thursday May 19, 2022, FSD Africa has launched its representative FSD Ethiopia.
FSD Ethiopia is now launched as a development agency that aims to support the development of accessible, inclusive, and sustainable financial markets for economic growth and development. FSD Ethiopia takes a market systems approach to promoting systemic change in Ethiopia’s financial sector. Funded by FCDO and the Bill & Melinda Gates Foundation, FSD Ethiopia is a market facilitator, providing technical assistance, grants, networks, research, and insights to market actors in both public and private sector domains.
The organization’s role is to identify the underlying causes of financial system failures and provide technical and financial resources to market actors to address these constraints to help build a functional and effective sector that generates economic gains for a wide cross-section of Ethiopian individuals and businesses. The body’s vision is to contribute to a thriving financial system that delivers real value to the economy and the people of Ethiopia.
Financial Sector Deepening Africa (FSD Africa) was created in 2012 and is a 35 million pound financial sector development program based in Nairobi and funded by the UK Government’s Department for International Development.
FSD Africa is a market facilitator that applies a combination of resources, expertise, and research to address financial market failures. It has the mandate to work across sub-Saharan Africa on issues that relate to both ‘financial inclusion’ and ‘finance for growth.’
FSD Africa is also a regional platform. It fosters collaboration, best practice transfer, economies of scale, and coherence between development agencies, donors, financial institutions,
Ethiopia began the process in 2020 by introducing a proclamation through the parliament where the national bank was a regulatory body. Apart from the Addis Ababa Share Dealing Group which was operating during the Derg regime, Ethiopia has not managed to establish a capital market till now.
AHRI, IVI and pertinent stakeholders launch mass cholera vaccination
A mass vaccination of the Oral Cholera Vaccine(OCV) has officially been launched on May 11 2022 at the Abosto Health Center in Shashemene town bringing in together pertinent stakeholders of Shashemene woreda and town administration officials, woreda and town health bureau officials, zonal health bureau officials, regional officials, community elders, religious leaders, media, the Armauer Hansen Research Institute(AHRI), Ethiopian Public Health Institute (EPHI), International Vaccination Institute(IVI) and LG Electronics (LGE) teams who joint hands to transmit key messages as well sensitize the community to increase awareness and acceptance of the vaccination.
The pre-emptive cholera vaccine will be administered to a hundred thousand residents of the area, of which 40,000 people will be from the Shashemene town, whilst 60,000 people will be from Shashemene woreda. For the OCV to be fully protective, two doses are recommended to be given 14 days apart to which the first round of this vaccination is set to run from May 11-15, with the complimentary second dose taking place from May 25-29.
