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UAE gives Ethiopia much needed forex

Muluken Yewondwossen
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The Crown Prince of the United Arab Emirates (UAE) marked his visit to Ethiopia by agreeing to inject more foreign currency into the country, providing a boost to Ethiopia’s manufacturing sector.
On day one of his two day official visit to Addis Ababa Sheikh Mohammed bin Zayed bin Sultan Al-Nahyan, the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE’s Armed Forces, met with PM Abiy Ahmed (PhD) and President Mulatu Teshome (PhD). PM Abiy surprised many by driving the Prince himself on the way from Bole International Airport to Bole Lemi Industry Park.

photo: Anteneh Aklilu
photo: Anteneh Aklilu

According to the information disclosed on Friday, the UAE agreed to shoot USD one billion into the national coffer within few days. According to reports when PM Abiy visited the Gulf States recently, he convinced leaders to allocate Ethiopia much needed cash.
In March the government reported there was less hard currency than expected and representatives from the manufacturing industry have reported on the dire effect lack of hard currency has on their ability to produce.
Industries have suspended or reduced production or reportedly only have enough cash to operate for a few weeks.
Now that help is on the way from the UAE, industry representatives are asking the government to give them priority over public projects.

pm-abyi-and-saudi-2
In the agreement the UAE also promised to invest an additional USD 2 billion in different sectors.
The two countries have also agreed to waive visa conditions for diplomats of the two countries.

China’s Sansheng opens USD 85m drug plant

Tesfaye Getnet
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Chinese company Sansheng, has opened a pharmaceutical factory in Eastern Industrial Zone. They have invested USD 85 million to produce over 65 types of drugs including capsules and injections. The factory lies on 16.67 sqm and includes space for future expansion. The factory features a production line to prepare solid, ampoules (thin-walled containers made of glass), and Large Volume Parenterals (injections). The annual capacity can reach 5 billion solid preparations, 300 million ampoules and 10 million Large Volume Parenterals.
The factory which was under construction for one year and seven months was inaugurated a week ago in  the presence of Demeke Mekonen, Deputy Prime Minster of Ethiopia. The factory will create jobs for around 300 people. Some are currently training to work on the factory’s eight machines.
Demeke said the factory will save foreign currency and help get medicine to customers quickly.
“All of us know we still import much of our medicine from abroad so we need to invest more to supply medicine locally and Sansheng’s factory helps us meet our goals.”
Pan Xinanwen, Chairman of Sansheng said the factory will rely on its own R&D center to develop more medicine that Ethiopian and African consumers need.
‘’The company is also willing to use its own successful  experience  in Ethiopia to bring more Chinese  companies to Ethiopia  so as to increase its presence in other fields.‘’  The factory meets the oversees development and  the Belt Road Initiative, he said.
Tan Jian, Ambassador of China to Ethiopia said his country will continue to promote health cooperation with Ethiopia.
‘’ The public health sector is an important component of the framework of China- Africa Cooperation. President XI Jinping has made it clear that China would encourage and support more local drug production by Chinese in Africa to increase African’s  access to medicine . The opening of Sansheng is one of the practical outcomes of China- Ethiopia public health cooperation,” he said.

French malt producer to start operation

Staff Reporter
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Malteries Soufflet, a major operator in the world of malt market with twenty-seven plants in Europe, Asia and South America, signed a land lease agreement with the Industrial Parks Development Corporation (IPDC) to build a malting plant. It will initially have a capacity of producing 60,000 tons of malt and will be in service by 2020.
The agreement was signed by Lelise Leme, IPDC CEO and Christopher Passelande General Manager of Soufflet Malt Ethiopia, on 13 June 2018, at the Radisson Blu Hotel in Addis Ababa.
The land lease agreement is the culmination of a negotiation between the two organizations, facilitated by the Ethiopian Agricultural Transformation Agency (ATA) and the Ethiopian Investment Commission (EIC). To this end, a memorandum of understanding was signed by Soufflet, EIC, and ATA to build the barley malting plant in Bole Lemi II Industrial Park in January 2017.
On the occasion, Khalid Bomba, ATA CEO noted “These kinds of investments represent Ethiopia’s progression from subsistence, production-based agriculture to commercialization and agro-processing. This shift is critical for the transformation of the agriculture sector and the country’s economic development.”
Lelise Leme, IPDC CEO, said “This venture will have multiple impacts on the Ethiopian economy by creating a market for smallholder barley farmers, opening up employment opportunities for youth, and providing relief to the country’s foreign currency challenge by reducing its malt imports.”
Although barley production and productivity has grown tremendously in recent years, Ethiopia continues to import nearly 70% of its malt. The emergence of numerous breweries, both domestic and international, means that the demand can be expected to grow, and the country needs rapid solutions to the shortage in domestic supply.
“Ethiopia is an attractive country to invest in because of its vast, yet largely untapped potential,” stated Christophe Passelande. “The country’s barley production capacity, the malt demand growth, coupled with Soufflet’s extensive international experience, promises a successful collaboration.”
“Ethiopia’s development model relies on agriculture, the most dominant sector of its economy, serving as an engine for industrialization,” said Dr. Belachew Mekuria, EIC Commissioner, “We are pleased with Soufflet’s investment because it marks an intersection between the two and showcases the possibilities for international investment in this country.”
The signing ceremony took place in the presence of senior representatives from the partner organizations, as well as the Ministry of Agriculture and Livestock Resources, Ethiopian Institute of Agricultural Research, Oromia region, and others.

Upstart group selected for Employers’ Confederation

Tesfaye Getnet
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The Ministry of Labor and Social Affairs (MoLSA), tasked with ruling on the appropriate employers’ confederation, decided to award it to a new group composed of five federations. The group will be made up of the federations of Hotel, Small and Medium Enterprises, Water and Sewerage service providers and the Amhara and Addis Ababa Employers’ Federations. They brought documents to MoLSA to register as an Ethiopian Employers’ Confederation. MoLSA conducted a thorough investigation into the structure, management and bi-laws of both parties before awarding the certificate to the new group. The letter signed by Hirut Wolde Mariam (Dr.) indicated that the new group was awarded the certificate based on the proclamation of the Executive Bodies Duties and Responsibilities and the proclamation of employers and employees (2004). Feteh Woldesenbet who is the Vice President of the newly certified Ethiopian Employers’ Confederation told Capital that the ministry gave the right verdict to the right group. “Now that we are accredited, our next step is to help both workers and employers and our country as a whole,” he said.
The Employers’ Confederation will be expected to foster a working relationship with the trade unions and promote joint representation of government in areas of mutual concern in the Labor Market. Decisions and functions will be exercised through consultation with the membership. The members are represented at the federation and the confederation will be responsible for formulating policy, approving the budget and electing the members of the Executive Committee. The Executive Committee, led by a president, oversees the implementation of policy and considers other issues as they arise. The confederation membership includes employers in the private and public sectors – including state Coops, the local authorities and employers’ associations. It will provide a forum for employers to promote sound industrial relations and observance of fair labor practices. It will also advocate, endorse, and defend the interests of employers. In addition it will support good management practices and develop sustainable institutional capacity and competence among its members.

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