Dr. Befekadu Degefe, a founding member and esteemed leader in the field of economics, passed away on January 9, 2025, leaving behind a profound legacy that has impacted both Ethiopia and the broader international community.

As the 4th President of the Ethiopian Economics Association from 2000 to 2004, Dr. Befekadu played a pivotal role in shaping economic discourse in the country. His dedication as a scholar, mentor, and policy advisor inspired countless individuals to pursue excellence in economics and contribute meaningfully to Ethiopia’s development.

Dr. Befekadu was known for his passion for advancing economic thought and his unwavering commitment to fostering growth within the field. His mentorship guided many young economists, instilling in them values of integrity, rigor, and dedication.

In a statement reflecting on his passing, colleagues expressed profound sadness, stating, “An esteemed colleague, mentor, and friend has left us. Our heartfelt condolences go out to his family and all who had the privilege of working alongside him.” They vowed to honor his memory by continuing to uphold the high standards he set throughout his career.

Dr. Befekadu’s legacy is characterized by his tireless efforts to promote economic understanding and policy development in Ethiopia. His influence will continue to resonate as future generations of economists strive to carry forward his vision for a prosperous and equitable society.

Russia has reaffirmed its commitment to assisting refugees in Ethiopia, pledging ongoing support amid escalating humanitarian needs. The Russian government announced it will provide essential aid, including food supplies, particularly in East Africa, where the situation remains critical due to conflicts and natural disasters.

On January 9, 2025, the United Nations World Food Programme (WFP) received a significant donation of 1,630 metric tons of wheat from the Russian Federation, aimed at supporting refugees in the Gambella region of Ethiopia. This donation is crucial as Ethiopia currently hosts over one million refugees, primarily from Somalia, South Sudan, and Eritrea, with new arrivals fleeing the ongoing conflict in Sudan. The WFP highlighted that the influx of Sudanese refugees has intensified the demand for life-saving humanitarian assistance.

The handover ceremony took place at the WFP’s main logistics center in Adama City and was attended by notable figures including Russian Ambassador to Ethiopia Evgeny Terekin, WFP Deputy Country Director Jennifer Bitonde, and Mulualem Desta from the Refugee and Returnees Service. Ambassador Evgeny Terekin emphasized that this aid reflects the longstanding friendly relations between Russia and Ethiopia and is part of a broader development cooperation strategy. He stated, “I really believe that the close cooperation between donor countries and UN agencies is of great significance.”

Jennifer Bitonde expressed gratitude for Russia’s continued support, noting that timely food aid is invaluable. However, she also stressed the importance of achieving sustainable food security through increased agricultural production. Currently, around 800,000 refugees have been receiving only 60% of their regular food rations for over a year. In contrast, newly arrived Sudanese refugees are receiving full meals, with plans to maintain this level of support for at least six months.

The ongoing humanitarian crisis in Ethiopia is exacerbated by various factors, including insecurity and climate change. As the country grapples with these challenges, international partnerships like that with Russia are vital for providing essential resources to those in need.

The Kuriftu Resort and African Village, touted as the largest resort in the country, has officially opened its doors, promising to significantly boost tourism growth. Located in the suburb of Sharif, the resort features 163 rooms spread over 54 square meters, each designed to reflect the art, culture, and traditions of various African nations.

The inauguration ceremony was attended by prominent figures including representatives from the African Union, various ambassadors, and government officials such as Shimelis Abdisa, President of the Oromia Region, and Selamawit Kessa, Minister of Tourism. The event highlighted the government’s ongoing efforts to enhance the tourism sector through collaboration with private partners.

Tadiwos Getachew, CEO of Kuriftu Resorts/Boston Partners Plc, emphasized that this project is a testament to diaspora-led investments in Ethiopia. He stated, “This is more than a resort; it is a living tribute to the culture, community, and craftsmanship of Africa.” The resort’s unique African Village concept includes 54 individually designed villas that offer immersive cultural experiences.

The project is expected to create over 800 jobs initially, with potential for further employment opportunities as operations expand. The Kuriftu Resort aims to position itself as a premier destination for both local and international tourists, showcasing Ethiopia’s rich cultural heritage while providing world-class amenities.

As part of its offerings, the resort includes state-of-the-art conference facilities capable of accommodating large events and two restaurants that celebrate African cuisine. With its strategic location near Addis Ababa’s diplomatic and business hubs, Kuriftu Resort is set to become a key player in promoting Ethiopia as a top tourist destination in Africa.

The Ethiopian government’s fuel subsidies have significantly increased the debt of the Price Stabilization Fund, now totaling 133 billion birr over the past five months, according to the Petroleum and Energy Authority. Of this amount, 30 billion birr is attributed to subsidized payments, highlighting the growing financial strain on the government.

Sahrela Abdullahi, Director General of the Petroleum and Energy Authority, presented these figures during a session of the House of People’s Representatives. He noted that the failure to adjust oil prices in recent years has severely depleted the funds originally allocated for price stabilization. The fund’s reserves have dwindled from 58 billion birr to 133 billion birr in just five months of the current fiscal year.

Sahrela explained that despite stable global oil prices, the government’s losses have escalated. He stated, “The loss of 58 billion birr in July 2016 has now risen to 133 billion birr due to increasing debt from fuel subsidies.” This alarming trend was discussed during a session where lawmakers adopted a new bill aimed at regulating the trading system for petroleum products.

The new proclamation mandates that petroleum importers must prepare annual procurement plans based on national fuel needs and adhere to quality standards for imported products. Additionally, it imposes obligations on fuel distributors to maintain adequate reserves and build depots capable of holding significant quantities of fuel.

The authority also highlighted accessibility issues, revealing that over 500 districts in Ethiopia currently lack gas stations. To address this, regulations have been introduced to improve distribution networks and ensure better access to fuel.

Severe penalties have been established for violations related to petroleum product sales. Those found trading outside government-set prices or mixing fuels with foreign substances could face imprisonment of three to five years and hefty fines ranging from 300,000 to 500,000 birr. Similarly, storing or selling petroleum products outside authorized locations may result in up to three years in prison and fines between 350,000 and 500,000 birr.