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The second day of the African Union is underway and CNBC Africa&#8217;s Godfrey Mutizwa asked South African Minister of International and Cooperation, Naledi Pandor, about key issues that have been addressed so far and what agenda South Africa is bringing to the African Union as chair.</p>


AU Summit 2020: Addressing conflicts on the continent key to achieving Agenda 2063 goals – Naledi Pandoor

AU Summit 2020: Addressing conflicts on the continent key to achieving Agenda 2063 goals – Naledi Pandor

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Director of Macroeconomic Forecasting and Research at African Development Bank (AfDB), Hanan Morsy says Africa is the least efficient in spending on education despite the very strong commitment of African governments. CNBC Africa&#8217;s Godfrey Mutizwa caught up with her on the side-lines of the Africa Union Summit for more.</p>


AU Summit 2020: “By enhancing efficiency

AU Summit 2020: “By enhancing efficiency, Africa can reach universal primary education” – AfDB’s Hanan Morsy

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Ahead of the 33rd Ordinary Session of the Assembly of the African Union Commission Summit in Addis Ababa, CNBC Africa’s Godfrey Mutizwa spoke to Dr. Hippolyte Fofack, Chief Economist and Director, Research and International Cooperation at Afreximbank on why Africa should speak with one voice on trade as a way to consolidate its bargaining power on the global stage.</p>


AU Summit 2020: Afreximbank: Why Africa should speak with one voice on trade

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<p>As the 33rd African Union Summit is underway in Addis Ababa, Ethiopia, CNBC Africa’s Godfrey Mutizwa spoke to Secretary General of the African Development Bank Group, Vincent Nmehielle for more.</p>


AU Summit 2020: AfDB’s Vincent Nmehielle on measures to drive inclusive economic growth in Africa

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Ethiopia&#8217;s privatisation plans are in high gear with the government setting a date for the privatisation of her state corporations. Fairfax Africa Fund Chairman, Zemedeneh Negatu joins CNBC Africa for more.</p>


Ethiopia sets privatisation deadline for SOE’s to comply with new reforms

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<p>Digital Payments Start-Up, Paga has acquired software company Apposit, an Ethiopian software development company confirming Paga’s expansion plans to Ethiopia. Tayo Oviosu, CEO of Paga joins CNBC Africa for more.</p>


Paga acquires Ethiopian company Apposit – how successful an expansion is this venture expected to be?

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<p>The last decade was the warmest on record as a result of climate change and the horn of Africa is one the regions that have been hit the most. According to the International Committee of the Red Cross, people in Ethiopia, Somalia, and other parts of Eastern Africa are increasingly caught between deadly extremes weather conditions in addition to violence. Julien Lerisson, Head of ICRC Delegation in Ethiopia joins CNBC Africa for more.</p>


How climate change is threating food security & peace in the Horn of Africa

How climate change is threatening food security & peace in the Horn of Africa

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<p>Ethiopia’s prime minister had his first state visit to South Africa over the weekend.  Amongst all the issues and topics that were discussed between the two heads of state the one that took centre stage is that of country’s dispute with Egypt over Ethiopia’s Grand Renaissance Dam. Ethiopia&#8217;s Ambassador to South Africa, Shiferaw Menbacho joins CNBC Africa for more.</p>


Shiferaw Menbacho on what makes SA attractive to Ethiopian investors

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<p>International Monetary Fund and Ethiopian government have reached an opening agreement for a three-year, $2.9 billion financing package to support the African country’s economic reform program. The program would focus on addressing foreign exchange shortage and transitioning to a more flexible exchange rate regime, while working to strengthen oversight and management of state-owned enterprises to contain debt vulnerabilities. Zemedeneh Negatu, Global Chairman at Fairfax Africa Fund (US) joins CNBC Africa for more.</p>


IMF seals $2.9bn financing package with Ethiopia: Here’s why this is a big game changer for the country’s economy


<p>WASHINGTON (Reuters) &#8211; The staff of the International Monetary Fund and the Ethiopian government have reached a preliminary agreement for a three-year, $2.9 billion financing package to support the African country’s economic reform program, the IMF said on Wednesday.</p>



<p>It said the agreement was subject to approval by the Fund’s executive board. If approved, it would be supported by the IMF under its Extended Credit Facility (ECF) and Extended Fund Facility (EFF).</p>



<p>The Ethiopian economic reform program would focus on addressing the foreign exchange shortage and transitioning to a more flexible exchange rate regime, while working to strengthen oversight and management of state-owned enterprises to contain debt vulnerabilities in Africa’s second most populous nation.</p>



<p>It would also work to free up domestic revenue for poverty-reducing and essential infrastructure spending; financial sector reforms to support private investment and modernize the monetary policy framework; and strengthening of the supervisory framework and financial safety nets, the IMF said.</p>



<p>Ethiopian Prime Minister Abiy Ahmed pledged to undertake economic reforms when he took office last year, with a focus on leveraging private sector investment to help provide jobs for millions of unemployed youth in the nation’s 100 million people.</p>



<p>Ethiopia’s foreign exchange shortages have worsened in the past five years as the government spent heavily on infrastructure before export earnings from new sectors such as manufacturing took off.</p>



<p>Reporting by David Lawder and Andrea Shalal; Editing by Chizu Nomiyama and Lisa Shumaker</p>


gettyimages-519230144-594×594

IMF and this East African country reach preliminary agreement on $2.9 billion financing package


<p>By Izabella Koziell, Program Director, CGIAR Research Program on Water, Land and Ecosystems (WLE)</p>



<p>If you’re of a certain age, Ethiopia may still invoke images of its devastating mid-1980s famine that gripped people around the world – including celebrities. But the once impoverished country has redefined itself in just over a generation.</p>



<p>It is now Africa’s fastest-growing economy, and this week, Prime Minister Abiy Ahmed is receiving the Nobel Peace Prize for his efforts in resolving the country’s two-decade-long conflict with neighbouring Eritrea.</p>



<p>But these bright prospects come with risks. It is a country that is still struggling with communal conflict. And the peace-building process with Eritrea is seen by some as stalled.</p>



<p>This political backdrop of hope and risk mirrors Ethiopia’s future in two other equally critical spheres: feeding its people and protecting its environment. A quickly growing population means more people to feed, and the land and water resources it relies on to grow food are struggling to cope under intensive cultivation, rapid urbanisation and the impacts of climate change.</p>



<p>If Ethiopia does not act quickly to protect and conserve its natural resources, it may struggle to continue its path of progress.</p>



<p>Ethiopia is highly dependent on agriculture, accounting for at least 40 per cent of its economy and employing some three-quarters of the workforce.</p>



<p>And despite decades of investments into restoring Ethiopia’s land, over 85 per cent is still either moderately or severely degraded, meaning its capacity to produce nutritious and bountiful food is hampered.</p>



<p>At the same time, alternating cycles of floods and droughts are making food production more difficult, and are only likely to worsen under climate change. Getting Ethiopia’s agriculture right has never been more challenging, or essential.</p>



<p>One way to do this is to turn changing climatic conditions into advantages. It is no longer enough just to be resilient to climate change; Ethiopians must convert these challenges to their own benefit.</p>



<p>Pastoralists in the lowlands of Afar, for instance, are now harnessing worsening floods to create new sources of irrigation in areas once inhospitable to crops and livestock grazing. By spreading flood water across land near seasonal streams, new areas of land were now enriched enough to support high value crops. Combined with better data and improved farming practices, the area saw major increases in crop and forage yields.</p>



<p>Likewise, in the highlands of Northern Ethiopia, severe erosion and prolonged droughts converged to create a situation where food, water and soil nutrients were scarce, undermining the subsistence and livelihoods of local communities.</p>



<p>But agricultural researchers from the global consortium CGIAR, along with local experts, supported communities to terrace the steep land, change grazing practices, target fertilizers more effectively and introduce new crops. This mix of techniques reduces soil erosion and turns degraded land back into productive plots, helping to meet mounting food demand.</p>



<p>These kinds of integrated approaches are delivering real results across Ethiopia and so should be expanded to help the country nourish both its people and land.</p>



<p>One way to ensure these big steps are taken is by incorporating the best knowledge and tools into existing programmes, including improved access to climate-smart technologies, such as high tech soil analysis or state-of-the-art seeds. To do this, they must be available to Ethiopia’s smallholder farmers at an affordable cost.</p>



<p>For example, tax cuts or innovative financing can expand the use of technologies such as solar-powered irrigation, helping encourage the transition to cleaner energy whilst boosting farmer productivity.</p>



<p>The Commission on Sustainable Intensification of Agriculture, which brings together renowned scientists, policy-makers, business-leaders, farmer organisations and more, has echoed this call. It aims to provide a roadmap to ensure farmers in Ethiopia and across the Global South can access – and help improve – these innovations.</p>



<p>Building long-term resilience against food shortages must start by safeguarding Ethiopia’s food, water and land resources. Failing to act could exacerbate the already high levels of hunger and place new strains on the Ethiopian government.</p>



<p>And with the global stage looking to Ethiopia and the Nobel Peace Prize as a beacon of hope in troubling times, the country can seize the moment to strengthen its leadership in protecting food security for years to come.</p>


Op-Ed: Ethiopia has a Nobel Prize and a roaring economy. Can it also gain a food secure future?

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<p>At the CIO 100 Symposium and Awards taking place at the 21st November, 2019, 150 out of 384 companies were shortlisted. This award covers six East African countries including Kenya, Uganda, Tanzania, Rwanda, Burundi and Ethiopia. They recognize companies that have used IT in the most innovative way to solve business challenges and achieve organizational goals. Harry Hare, Chairman and Founder of CIO East Africa, joins CNBC Africa for more.</p>


East African countries expected to shake and move continent at CIO 100 Symposium and Awards

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<p>In the midst of tough economic conditions, South Africa’s mobile operator, Vodacom reports a 3 per cent increase in revenue for the 6-months to end September.  The company’s headline earnings per share are up 18.9 per cent compared to last year. Joining CNBC Africa for more is Shameel Joosub, CEO, Vodacom.</p>


Vodacom CEO: Here’s why we see a big opportunity in Ethiopia

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<p>Egypt and Ethiopia have agreed to resume talks to resolve a dispute over the construction of the Grand Ethiopian Renaissance Dam on the Nile River, now according to Nigeria&#8217;s Vice President, speaker of Egypt&#8217;s parliament has asked the West African country&#8217;s leadership to help mediate the talks. Analyst, Ken Agutamba joins CNBC Africa for more.</p>


Analysis: How Nigeria can help broker the Egypt-Ethiopia dam dispute

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<p>Egyptian President Abdel Fattah al-Sisi and Ethiopian Prime Minister Abiy Ahmed are set to meet in Russia to discuss a dispute over a hydropower dam that Ethiopia is building on the River Nile, which has caused a long-running diplomatic standoff. Ethiopia aims to provide electricity to homes of its 105 million citizens and Egypt wants a steady supply of water for its 98 million citizens. Global Chairman at Fairfax Africa Fund (US), Zemedeneh Negatu joins CNBC Africa for more.</p>


Egypt, Ethiopia to hold talks over Nile dam hydropower dispute


<p>OSLO (Reuters) &#8211; Ethiopian Prime Minister Abiy Ahmed won the 2019 Nobel Peace Prize on Friday for his peacemaking efforts with Eritrea.</p>



<p>Ethiopia and Eritrea, longtime foes who fought a border war from 1998 to 2000, restored relations in July 2018 after years of hostility. [nL8N1U5180]</p>



<p>The prize, worth nine million Swedish crowns, or around $900,000, will be presented in Oslo on Dec. 10.</p>



<p>“Ethiopian Prime Minister Abiy Ahmed Ali has been awarded this year’s Nobel Peace Prize for his efforts to achieve peace and international cooperation, and in particular for his decisive initiative to resolve the border conflict with neighbouring Eritrea,” the Norwegian Nobel Committee said in its citation.</p>



<p>The Nobel Peace Prize will be presented in Oslo on Dec. 10, the anniversary of the death of Swedish industrialist Alfred Nobel, who founded the awards in his 1895 will.</p>



<p>Reporting by Gwladys Fouche and Terje Solsvik in Oslo, Maggie Fick and Katharine Houreld in Nairobi; Editing by Andrew Heavens</p>


Ethiopian Prime Minister Abiy Ahmed wins 2019 Nobel Peace Prize


<p>ADDIS ABABA (Reuters) &#8211; Ethiopian Airlines’ operating revenue jumped nearly 30% in the year to July 31, a senior government official said on Tuesday, helped by a surge in passenger numbers.</p>



<p>Operating revenue jumped by 28.6% year on year to 114.6 billion birr ($3.9 billion), said Wondafrash Assefa, head of communications at Ethiopia’s Public Enterprise Holding and Administration Agency (PEAA).</p>



<p>PEAA has a supervisory role over public enterprises including Ethiopian Airlines.</p>



<p>Wondafrash did not give a reason for the revenue leap, but the airline’s CEO Tewolde Gebremariam last month told state television that passenger numbers had risen by 14%.</p>



<p>In March, one of the airline’s Boeing planes crashed a few minutes after take-off from Addis Ababa en-route to Nairobi, killing all 157 people on board.</p>



<p>That crash and another involving Lion Air two weeks earlier led to the grounding of U.S. planemaker Boeing’s 737 MAX jets worldwide.</p>



<p>($1 = 29.2000 birr)</p>



<p>Writing by Elias Biryabarema; Editing by David Goodman</p>


Ethiopia

AU Summit 2020: Addressing conflicts on the continent key to achieving Agenda 2063 goals – Naledi Pandor

AU Summit 2020: “By enhancing efficiency, Africa can reach universal primary education” – AfDB’s Hanan Morsy

AU Summit 2020: Afreximbank: Why Africa should speak with one voice on trade

AU Summit 2020: AfDB’s Vincent Nmehielle on measures to drive inclusive economic growth in Africa

Ethiopia sets privatisation deadline for SOE’s to comply with new reforms

Paga acquires Ethiopian company Apposit – how successful an expansion is this venture expected to be?

How climate change is threatening food security & peace in the Horn of Africa

Shiferaw Menbacho on what makes SA attractive to Ethiopian investors

IMF seals $2.9bn financing package with Ethiopia: Here’s why this is a big game changer for the country’s economy

IMF and this East African country reach preliminary agreement on $2.9 billion financing package

Op-Ed: Ethiopia has a Nobel Prize and a roaring economy. Can it also gain a food secure future?

East African countries expected to shake and move continent at CIO 100 Symposium and Awards

Vodacom CEO: Here’s why we see a big opportunity in Ethiopia

Analysis: How Nigeria can help broker the Egypt-Ethiopia dam dispute

Egypt, Ethiopia to hold talks over Nile dam hydropower dispute

Ethiopian Prime Minister Abiy Ahmed wins 2019 Nobel Peace Prize

Ethiopian Airlines annual revenue jumps to 29%, what you need to know

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Ethiopia

AU Summit 2020: Addressing conflicts on the continent key to achieving Agenda 2063 goals – Naledi Pandor

AU Summit 2020: “By enhancing efficiency, Africa can reach universal primary education” – AfDB’s Hanan Morsy

AU Summit 2020: Afreximbank: Why Africa should speak with one voice on trade

AU Summit 2020: AfDB’s Vincent Nmehielle on measures to drive inclusive economic growth in Africa

Ethiopia sets privatisation deadline for SOE’s to comply with new reforms

Paga acquires Ethiopian company Apposit – how successful an expansion is this venture expected to be?

How climate change is threatening food security & peace in the Horn of Africa

Shiferaw Menbacho on what makes SA attractive to Ethiopian investors

IMF seals $2.9bn financing package with Ethiopia: Here’s why this is a big game changer for the country’s economy

IMF and this East African country reach preliminary agreement on $2.9 billion financing package

Op-Ed: Ethiopia has a Nobel Prize and a roaring economy. Can it also gain a food secure future?

East African countries expected to shake and move continent at CIO 100 Symposium and Awards

Vodacom CEO: Here’s why we see a big opportunity in Ethiopia

Analysis: How Nigeria can help broker the Egypt-Ethiopia dam dispute

Egypt, Ethiopia to hold talks over Nile dam hydropower dispute

Ethiopian Prime Minister Abiy Ahmed wins 2019 Nobel Peace Prize

Ethiopian Airlines annual revenue jumps to 29%, what you need to know

News Tips

Advertise With Us

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