Dr Abiy Wins NobelPrime Minister Dr Abiy Ahmed of Ethiopia has won this year’s Nobel Peace Prize.

The Prime Minister was awarded the prize for his efforts to “achieve peace and international cooperation, and in particular for his decisive initiative to resolve the border conflict with neighboring Eritrea,” said the Norwegian Nobel Committee in a statement.

The prize is also meant to recognize all the stakeholders working for peace and reconciliation in Ethiopia and in the East and Northeast African regions, it said.

When Dr Abiy Ahmed became Prime Minister in April 2018, he made it clear that he wished to resume peace talks with Eritrea.

In close cooperation with Isaias Afwerki, the President of Eritrea, Dr Abiy Ahmed quickly worked out the principles of a peace agreement to end the long “no peace, no war” stalemate between the two countries.

These principles are set out in the declarations that Prime Minister Dr Abiy and President Isaias signed in Asmara and Jeddah last July and September.

An important premise for the breakthrough was Dr Abiy Ahmed’s unconditional willingness to accept the arbitration ruling of an international boundary commission in 2002.

Peace does not arise from the actions of one party alone. When Prime Minister Dr Abiy reached out his hand, President Isaias grasped it, and helped to formalise the peace process between the two countries.

The Norwegian Nobel Committee hopes the peace agreement will help to bring about positive change for the entire populations of Ethiopia and Eritrea.

In Ethiopia, even if much work remains, Dr Abiy Ahmed has initiated important reforms that give many citizens hope for a better life and a brighter future.

Read More At: https://fanabc.com/english/2019/10/ethiopias-pm-dr-abiy-wins-2019-nobel-peace-prize/

Mining Modern IndustryEthiopian Ministry of Mines and Petroleum disclosed that Ethiopia is working on expanding modern mining operations so as to save the mining resource from extravagance.

Ethiopian Mines and Petroleum Minister, Samuel Hurkato told ENA, a state news agency that the country has been expanding modern operations and new procedures to sensibly use the non-renewable mining resource by reducing its exposition to extravagancy and corruption.

The Minister further said Ethiopia has introduced cadastral-based modern mining licensing and database system to promote investments in the sector. 

The system enables investors to see different investment opportunities, to request for license from where they are living and to pay payments in simple and clear way, he stated.

The Cadastre System assures conducive environment for investment by building trust and creating closeness among the community, the companies and the government.

Moreover, Ethiopia is working on creating globally competitive mining investment framework and formalizing traditional mining system with reviewing mining operations, proclamations and regulations.

The newly operations enhances the sector to contribute its part in promoting foreign currency intake and in creating job opportunities, according to the minister. 

The amended Proclamation to Regulate Transaction of Minerals including different regulations has also been put in implementation.  

The Ministry pointed out that mining and petroleum policies will also come into effect within short period of time.

Source:- https://africabusinessnetworking.com/ethiopia-expands-modern-mining-operations/

AU Public SectorA public financial management forum aimed at strengthening public sector accounting in Africa is underway in Addis Ababa.

Opening the session, African Union Deputy Chairperson Kwesi Quartey said the forum enhances the pioneering role of the Union in the implementation of International Public Sector Accounting Standards (IPSAS) and public sector accounting for inclusive growth and sustainable development in the continent.

He stated that creating strong public financial management and public sector accounting through implementing IPSAS improve quality and comparability financial statements as well as promote transparency, accountability and good governance in the continent.

State Minister of Finance, Admasu Nebebe said the Government of Ethiopia has recognized that strengthening public sector financial management is pivotal to enhance public investment efficiency and increasing operational performance, transparency and good governance of state-owned enterprises.

Read More at: https://africabusinessnetworking.com/forum-on-strengthening-public-sector-in-africa-underway/

Banks Fossil FuelThe world’s largest investment banks have provided more than $700bn of financing for the fossil fuel companies most aggressively expanding in new coal, oil and gas projects since the Paris climate change agreement, figures show.

The financing has been led by the Wall Street giant JPMorgan Chase, which has provided $75bn (£61bn) to companies expanding in sectors such as fracking and Arctic oil and gas exploration, according to the analysis.

The New York bank is one of 33 powerful financial institutions to have provided an estimated total of $1.9tn to the fossil fuel sector between 2016 and 2018.

The data shows the most aggressively expanding coal-mining operations, oil and gas companies, fracking firms and pipeline companies have received $713.3bn in loans, equity issuances and debt underwriting services from 2016 to mid-2019.

Other top financiers of fossil fuel companies include Citigroup, Bank of America and Wells Fargo.

Using Bloomberg financial data and publicly available company disclosures, the analysis was compiled exclusively for the Guardian by Rainforest Action Network, a US-based environmental organisation.

Read More At: https://africabusinessnetworking.com/top-investment-banks-provide-billions-to-expand-fossil-fuel-industry/

AirLine Brussels to AddisEthiopian Airlines will run a daily direct flight between Brussels and Addis Ababa from 28 October, the airline, which is a member of the Star Alliance, announced on Monday.

The seven-hour flight will also enable travellers to reach other African destinations.

It will leave Brussels Airport at 9.30 p.m. and arrive the next morning at 6.30 local time at Bole International Airport. The return flight from Addis Ababa will leave each day at 0.45 a.m. and arrive in Brussels at 6.15 a.m.

Thus far the plane made a stopover in Vienna on the way to Addis Ababa on three days, while the flight was a direct one on the four other days.

Ethiopian Airlines offers 125 international destinations on five continents, including Tanzania, Kenya, South Africa, Namibia and many others in Africa.

Source: https://africabusinessnetworking.com/ethiopian-to-begin-daily-direct-flights-from-brussels-to-addis-ababa/