In the presence of President Sahlework Zewdie and Prime Minister Abiy Ahmed the newly constructed friendship park which is part of the beautifying Sheger project was officially inaugurated on Thursday September 10, 2020.
The constriction which was undertaken by the Chinese construction company took 11 months to be completed
On the occasion, Prime Minister Abiy awarded certificates of acknowledgment for the Chinese government and other stakeholders who have contributed to the successful completion of Sheger Park.
The Chinese government supported the construction of the Sheger Park.
The Park demonstrated innovation and execution in a short time span and emblematically represents Ethiopia.
In the presence of President Sahlework Zewdie and Prime Minister Abiy Ahmed the newly constructed friendship park
NBE secures financial consumers security
The National Bank of Ethiopia (NBE) has issued a directive that aims to protect and build the confidence of the financial consumers by promoting financial inclusion and healthy financial transactions to amplify the sector growth.
The directive, that is called ‘Financial consumer protection directive no. FCP/01/2020’ indicated that it is issued to build trust and confidence to the financial consumers through promoting financial inclusion, healthy financial transactions to stimulate growth, stabilizing ethical innovations and efficiency in the financial system.
It states that establishing a clear and objective financial consumer protection regulation, supervision, complaint handling and dispute resolution mechanisms are necessary to promote fair, responsible and transparent financial transactions that shape professional conduct of financial service providers to financial consumers.
It added that addressing the challenges that may occur in relation to innovation and development in the financial infrastructure and products and services that would possibly increase the risks and challenges particularly that low income and less experienced financial consumers face is stated as the reason for issuing the directive.
It added that the reason for issuing the directive was to directly tackle the issues that face the financial consumers through challenges faced in relation to innovation and development in the financial infrastructure and with regard to products and services that may be risky.
The directive that has become effective as of the 25th of August is applicable to any financial service provider, financial product and service, and financial consumers and security providers.

The directive enforces financial service providers to treat all consumers equitably and fairly without discrimination.
It added that special attention and priority should be given for those with particular needs like the socially vulnerable and economically marginalized consumer groups in this case, the inexperienced consumers and the physically disabled.
Regarding transparency and disclosure, a financial service provider shall ensure that financial consumers and security providers are provided with accurate, simple, clearly expressed and timely information about the features, likely risks, obligations and other terms and cost of any financial product or service or security they are considering.
The directive has prohibited unfair contractual terms against a financial consumers or security provider.
It has also barred financial providers from changing a financial consumer an interest in advance for credit. It added that charged interest should only be based on an annual percentage applied to the unpaid balance of the loan.
According to the directive that is 50 pages long, the board of directors at financial service providers shall approve appropriately detailed policies and procedures, and submit to NBE to ensure effective implantation and compliance of the directive within three months from issuance of this directive.
Internal complaint handling unit shall be formed to the providers with required resources.
The financial institutions may penalize 10,000 birr for each violation of the provisions of the directive.
The directive added that NBE may in addition to the penalty stated above take any another measures it considers necessary.
Foreigners with $10 million investment to own homes
The new investment regulation clearly has gone on to state that if a foreign investor has a portfolio investment of 10 million USD in Ethiopia, then that investor is eligible to own a dwelling house(s).
The regulation issued by the Council of Ministers as ‘Investment Regulation no. 474/2020’ has sought to relax the joint venture (JV) investments that foreign investors shall involve themselves in, whether with the government or private sector which is quite contrary to the prior 2012 regulation.
The FDI legal consultant and Head of Dabe Investment Consulting and Conveyance PLC, Daniel Getnet, said that the latest regulation has clearly stated the percentage and areas of investment that foreign investors shall invest on joint venture.
“In the previous regulation the share percentage and areas of investments that foreign investors shall invest in the country was not specifically disclosed meanwhile the previous regulation had areas that were preserved for local investors or foreigner,” Daniel told Capital.
The regulation, article 5, indicated that foreign investors may invest only on JV with domestic investors on areas that include: Freight forwarding and shipping services, domestic air transport services, cross country public transport with a seating capacity of more than 45 passengers, urban mass transport, advertisement and promotion service, audiovisual services and accounting and auditing services.
Sub article 5.2 further stated that a foreign investor jointly investing with a domestic investor in areas listed under sub article 5.1 shall not hold more than 49 percent of the share capital of the enterprise.
“This is the main point that the new regulation mentioned and gives 49 percent share to foreign investors on the stated investments,” the legal advisor said.
He said that the other new change on the regulation is that it allows investors the ability to access license online than physical appearance as opposed to the previous regulation.
“In my view, internal directive or law shall be issued that may show why investors deny for license, which is not mentioned on the regulation, on the aim of transparency and good governance,” Daniel added.
The regulation, article 3, clearly stated that any investor cannot invest on manufacturing of weapons, ammunition and explosives used as weapon or to make weapons, import and export of electric energy, international air transport service, bus rapid transit, and postal services excluding courier services.
PSEUDOSCIENCE
In late modernity, global dominant interests are trying hard to establish a general motto for all human societies. One can capture this maxim, willy-nilly, as: ‘anything goes and nothing matters.’ The implied message being; at the end of the day, not much matters and one must just accept this fact of life and deal with it. Of course, this fatalistic and sinister ideology goes against the grain of history, and yet, the power that be wants to make it the premiere global religion, at this late our! Undoubtedly, it has its important strategic use for the rulers of the system. The most important being; the complete pacification of the sheeple (human mass), while at the same time bestowing an aura of invincibility to the parasitic elites and their deep state. History is always on the move, whether one notices it or not. ‘End of history’ is as absurd as humanity without its languages, but we digress!
Trying to elevate insincerity to one of the highest form of civilized values cannot be taken seriously, even by the zombified sheeple of our planet. Sooner or later, this farce will be exposed for what it is; a scheme to shut off all critiques based on rational thoughts. Nonetheless, the DS (deep state) and fellow travellers, maybe out of desperation, believe the trick might work if followed through. We beg to differ! So far, the doctrine of insincerity has managed to leverage the relativeness of human social constructs to establish certain legitimacy in some circles. However, by continuously banging on this path, the DS has initiated widespread suspicions. To recall; we have defined the deep state as the military-intelligence-industrial-banking-media-complex of empire. For instance, what is being portrayed as ‘woke culture’, to some extent, is a reflection of the not so rational strategy employed by the global power that be. Even though we have nothing against the aspirations of many who claim to uphold all that is spewed by the ‘woke culture’, there are some issues that still need interrogating. Here is the observation of the first mixed race president of the US on ‘wokism’. “I get a sense among certain young people on social media that the way of making change is to be as judgmental as possible about other people. If I tweet or hashtag about how you didn’t do something right or used the wrong verb, then I can sit back and feel pretty good about myself because ‘Man did you see how woke I was? I called you out!”
The innate enemy of insincerity is sincerity, a no brainer; but the implication of this is not trivial, as it can dethrone everything that has been based on the ideology of insincerity. Sincerity underlies all science, therefore, unless science is ‘made’ insincere by hook or a crook, i.e., pseudoscience, the current system of banal ‘wokism’ might not hold for long. In our complex world system, science is no more a straightforward replicable affair. Myriad factors come into play when, for example, a complex experiment is scientifically attempted to verify claimed findings. Complexity necessitates big science and big science can be used as an effective obscurant in the ascending woke culture of the descending empire. Since big money commands big science, public/state universities have become, literally, corporate labs or campuses at the service of transnational capital. As a result, transnational capital is playing a significant role in derailing kosher science while empowering pseudoscience! It is no wonder individual researchers, not in agreement with the logic of capital, are treated as aliens from yonder!
When science is represented by big science/paid science, facts and truths tend to give way to fancy fanfares devoid of substance, which can only portend the coming of another era of darkness! Before long, the ‘witch hunt’, ‘human sacrifices’, etc., might be reincarnated in their modern equivalents. Luckily, we still have some individuals still committed to the tradition of enlightenment, always seeking scientific truth. Unlike the trashy science of the dominant interests, which is propagated by the DS/Davos crowd, here is (see the article next column), for instance, the ‘Facts on Covid-19’ from the same country of Switzerland, but by the credible Swiss organization, Swiss Policy Research. See also the articles on page 52 & 53. Inquiring minds probably know something about ‘The Lancet’ (UK) and the ‘New England Journal of Medicine’ (USA). These are probably the two most prestigious medical journals in the world. Now get ready for the real shocker!
“The case against science is straightforward: much of the scientific literature, perhaps half, may simply be untrue. Afflicted by studies with small sample sizes, tiny effects, invalid exploratory analyses, and flagrant conflicts of interest, together with an obsession for pursuing fashionable trends of dubious importance, science has taken a turn towards darkness.” Robert Horton, editor in chief of ‘The Lancet’.
“It is simply no longer possible to believe much of the clinical research that is published, or to rely on the judgment of trusted physicians or authoritative medical guidelines. I take no pleasure in this conclusion, which I reached slowly and reluctantly over my two decades as an editor of The New England Journal of Medicine.” Dr. Marcia Angell, editor of ‘The New England Journal of Medicine’. Good Day & Good Year!












