Japan Pledges to Continue Humanitarian, Development Cooperation with Ethiopia

Japan will continue its humanitarian assistance and development cooperation with Ethiopia, according to Ambassador Ito Takako.

In an exclusive interview with ENA, Ambassador Takako said her country will extend assistance to the first batch of rehabilitation in the north to support the efforts being made by the government of Ethiopia.

“We are also waiting for information regarding the UN Basket Fund. Then we will be able to collaborate and contribute to the humanitarian assistance including for Borena, which is affected by drought,” she added.

According to Takako, financial contribution through the UN Basket Fund is one of the things that the Government of Japan will do to support the efforts of rehabilitation and reconstruction in the northern part of the country.

The ambassador further pointed out that the Government of Japan will have to think what it can do in terms of development, helping the people at the grass root level. “Those are the things we are also considering.”

She elaborated that the social sectors, including education and health, are also important areas that Japan is emphasizing in development cooperation with Ethiopia.

Source: Ethiopian News Agency

Africans Need to Renew Commitment for Stronger, Integrated Continent: State Minister Misganu

As we celebrate legacy achievements of our forefathers it is important to carry forward their vision and renew our commitment for stronger, more integrated and united Africa, Sate Minister of Foreign Affairs Ambassador Misganu Arga said.

Speaking at the African Day panel discussion organized by the African Leadership Excellence Academy (AFLEX), the ambassador said Africa needs to go a long way to achieve a truly united, prosperous and integrated Africa.

He added that our brave forefathers 60 years ago came together to realize the pan African vision with the establishment of the organization of African Unity-African Union (OAU-AU) with the aim of getting rid of colonialism, apartheid and defending the cardinal principle of sovereignty and self-determination.

He recalled that our visionary leaders including Emperor Hailesilasie, Julius Niyerere and many others recognized that Africa’s strength lies in its unity.

They committed themselves for the urgent need of a united Africa and worked with determination and courage to realize the continent they envisioned. We praise them for installing pan Africanism in our heart and giving us continental platform to defend our common interest.

However, as we celebrate their life and legacy achievements, it is important as well that we carry forward their vision and renew our commitment for stronger and more integrated and united Africa, he said.

“Our action needs to be guided by strong sense of urgency and strong desire to leave behind our dark history of violence, poverty, backwardness and deficit in democracy and human rights. We need to realize that we have to go a long way to achieve a truly united, prosperous and integrated Africa,” he said.

It is, therefore, important that we critically appraise the enormity and complexity of challenges our continent face, strengthen a more united fight against internal and external challenge. We also need to make sure that the values of pan Africanism are passed on to the next generation.

South Sudanese Ambassador to Ethiopia James Morgan said the formation of the OAU-AU organization is mainly to liberate the continent that was occupied and slaved and later on divided.

Today we are looking back to this day with a great pride of what our founding fathers have made. We look back with pride and confidence in ourselves because when we are occupied and in slave, that confidence was taken out of us.

But, our forefathers restored our dignity as people of this continent. The OAU did its task by liberating the continent, he added.

“We here in the Horn of Africa have a responsibility to bring the Horn of Africa together, one of it is to make sure that we have a freedom of movement of our people. We don’t want to be stuck in one place, our people in this continent must move freely,” he said.

The ambassador added that the next step is to integrate Africa which will be prosperous for all its citizens. Ethiopia has set an exemplary effort to the continent, he said adding that the country paid dearly to the struggle in most of this continent.

AFLEX Chief of Academy, Mehret Debebe on his part said in pursuit of Africa that we want, we are bound by a shared responsibility to push boundaries, dismantle barriers and pave the way for our future generation.

It is through unwavering determination; tenacity that we unleash Africa’s true potential.

“In this celebration of African day, I want to remind you, each one of you are as important to the other person next you, and African wants all of us. Let us use this occasion to lift Africa and connect our respective nations towards our role in the upcoming global change,” he said.

The African Union Commission (AUC) is celebrating the historical commemoration of the OAU-AU 60th anniversary under the slogan of “Our Africa Our Future”.

African ambassadors, academician, and other invited guests are attended the panel discussion.

Source: Ethiopian News Agency

Africans Urged to Strengthen Unity to Fight Internal, External Challenges

Africans needs to be united in order to effectively fight the internal and external challenges that the continent is facing, State Minister of Foreign Affairs, Ambassador Misganu Arga underscored.

African Day panel discussion organized by the African Leadership Excellence Academy (AFLEX) is underway in Addis Ababa.

The event is organized in connection with the OAU-AU 60th anniversary.

Speaking at the occasion, Foreign Affairs State Minister said our brave forefathers came together to realize African vision by establishing this organization in Addis Ababa.

He recalled that our visionary leaders Julius Nirerie, Nkuwame Nkrumah and Emperor Haile Selassie among others defended the sovereignty of the continent with the spirit of pan Africanism.

Ambassador Misganu said as we celebrate the anniversary of OAU-AU, we need to renew our commitment to ensure prosperous and united Africa by changing the dark history of poverty.

He explained that significant achievement has been registered in the continent despite multifaceted challenges.

For instance, the AFCFTA is one of the flagship project that aimed at realizing prosperous continent, he said adding that we need to invest on infrastructure to allow free movement of the people.

Ethiopia continues to advocate the vision of Africa we want, he said.

AFLEX Chief of Academy, Mehret Debebe on his part said we need to work together to realize what our continent deserves.

African ambassadors, academician, and other invited guests are attending the panel discussion.

The African Union Commission (AUC) is celebrating the historical commemoration of the OAU-AU 60th anniversary under the slogan of “Our Africa Our Future”.

The objective of the celebration is to raise awareness around the Pan African ideals of the OAU Founding Members as well as educate the population on the history of Africa, while shaping the narrative and journey of the continent towards achieving its socio-economic and political development for “ The Africa We Want ”.

Source: Ethiopian News Agency

African Ministers Call for Reforms of IMF’s Special Drawing Rights System

African Ministers of Finance, Planning and Economic Development have called for reforms of the IMF’s Special Drawing Rights (SDR) system to strengthen the global financial safety net and make more liquidity available to developing countries.

The call for reforms was made during a meeting of the Africa High-level Working Group on the Global Financial Architecture on the margins of the 2023 Annual Meetings of the African Development Bank Group held in Sharm El-Sheikh, Egypt.

Coordinated by the Economic Commission for Africa (ECA), the High-level Working Group comprises African Ministers of Finance, Planning and Economic Development, the African Union, the African Development Bank, Afreximbank, and the World Bank, and includes the participation of IMF staff and Executive Directors.

The Group serves as a forum to develop reform proposals for the global financial architecture and strengthen the African voice on the global stage, according to ECA.

During the meeting, ECA’s Deputy Executive Secretary and Chief Economist, Hanan Morsy delivered a presentation on reforming the SDR allocation and rechanneling mechanism.

The SDR system came into existence in 1968 with the aim of supplementing official reserves and facilitating global liquidity. The IMF’s Articles of Agreement stipulate that SDR allocations are meant to be considered every five years, referred to as “basic period”.

Throughout the 12 “basic periods” since the inception of the SDR system, there have been merely four general allocations and one special allocation (with two notable ones in 2009 and 2021).

Morsy also emphasized that, when SDRs are allocated, they tend to disproportionately benefit countries that are less in need of them. This is because SDRs are distributed in proportion to existing IMF quotas, which are primarily a function of an economy’s size and relative position in the world economy.

For instance, during the 2021 general SDR allocation of 650 billion USD, high-income countries, which are least likely to require or utilize SDRs, received approximately 450 billion USD, constituting almost 70 percent of the total allocation.

Africa, with a population exceeding 1.4 billion, received fewer SDRs than Germany, a country with a population of only 83 million, ECA’s Chief Economist indicated.

The ministers emphasized the need for SDR allocation decisions to be made in a rule-based analytical manner to reduce the discretionary and political nature of the allocation process.

The “Unexpected Major Developments” provision needs to be clarified and operationalized to include the following triggers: force-majeure exogenous shocks, such as pandemics or natural disasters, global recessions, and significant capital flow reversals from emerging and developing economies.

The ministers underscored the importance of ensuring that SDRs are directed to countries that require those most.

They advocated for the rechanneling of SDRs to Multilateral Development Banks, such as the African Development Bank, as a means to achieve this goal.

They noted that the proposal for SDR rechanneling put forward by the African Development Bank and the Inter-American Development Bank provides a viable technical solution that would allow leveraging SDRs to provide much needed liquidity to African countries.

They called upon SDR donor countries to participate in the proposal and thereby enable its implementation.

Moreover, the ministers called for reforming the SDR rechanneling mechanism to promote greater utilization. The ministers further urged for a reform of the SDR allocation formula to take into account countries’ liquidity needs in addition to IMF quotas.

Source: Ethiopian News Agency

This was revealed by Deputy Minister of Finance and Public Enterprises

A total of N.dollars 4.2 billion for the financial year of 2023/24 and N.dollars 13.1 billion over the Mid-term Expenditure Framework (MTEF) has been allocated to the requisite infrastructure development sector.

Meanwhile, the transportation sector received a total of N.dollars 2.9 billion and N.dollars 9 billion for the 2023/23 financial year and MTEF respectively.

This was revealed by Deputy Minister of Finance and Public Enterprises, Maureen Hinda-Mbuende, at the African Road Maintenance Fund Association (ARMFA) Presidential handover ceremony in Swakopmund on Tuesday.

According to Hinda-Mbuende, this budget allocation is primarily for the completion of ongoing phases of road construction projects with contractual awards.

These include the finalisation of the Windhoek-Okahandja dual carriageway’s second phase, the Swakopmund-Henties Bay-Uis-Kamanjab road and the completion of phase one of the Windhoek-Hosea Kutako Airport road and the retention for the upgrades to Walvis Bay-Kranzberg railway line.

Source: The Namibian Press Agency

Namibia’s time to shine: Moore

British High Commissioner to Namibia, Charles Moore has said Namibia’s green hydrogen plans have the most potential and that it is Namibia’s time to shine.

Moore said this during a courtesy visit to President Hage Geingob on Tuesday to extend an invitation by British Prime Minister, Rishi Sunak, to attend the United Kingdom-Africa Investment Summit in London scheduled for 04 April 2024.

“This is Namibia’s time to shine…You are one of the most probable countries with green hydrogen plans. It is a great future,” he said.

Moore said the invitation is to ensure that Namibia is included in the investment summit, which is designed to generate new partnerships and increase local trade investment through opportunities in Namibia, particularly green hydrogen and the health sectors, among others.

On his part, President Geingob said Namibia is open to investors, especially in the green hydrogen sector, noting that the country went through a difficult period of economic downturn, severe drought and COVID-19 since him taking over as Head of State.

“It was crisis over crisis… but now things are going to look okay and put the country in a good shape,” he said.

The summit will bring together heads of states and governments from 24 African countries, with British and African business leaders aiming to strengthen UK-African partnerships to create jobs and growth, supporting British and African talent in sectors such as finance and technology, renewable energy and promoting women entrepreneurs.

Source: The Namibian Press Agency