Ethiopia Daily News summery May 16

May 16/2023

1) State-owned Ethiopian Investment Holdings (EIHs) will sell 75 percent stake on the Ethiopian Security Exchange (ESX) to private investors, The Reporter newspaper reported Tuesday. According to the report, EIHs said the state will retain the 25 percent stake. The report quoted EIHs as saying it had finalised feasibility studies and put in place the legal framework to start the sale of the shares. The Ethiopian government says it will establish the country’s first Stock Exchange soon.

2) Ethiopia has started consultations on whether or not to amend the country’s 27-year-old Federal Constitution. A preliminary consultation organised by the government’s Policy Institute in Addis Ababa Tuesday discussed a study paper on the revision of the constitution. According to the report, the preliminary study came up with three major findings, ranging from retaining the current constitution, drafting a new one or revising it, based on broad national consultations. The Federal Constitution, that gives ethnic-based regions the right to self-determination, including secession, came into effect in 1995, and has not been amended.

3) The European Union (EU) delegation will visit Ethiopia’s war-torn Tigray region on Wednesday, the regional government media reported. According to the report, the EU delegation will be led by the Union’s Ambassador to Ethiopia, Roland Kobia. The delegation is expected to visit regional capital Mekelle, Adigrat and Shire towns, as well as other areas affected by the two-year war between the Ethiopian army and forces loyal to the Tigray People’s Liberation Front (TPLF), the region’s ruling party, from November 2020 to November 2022.

4) Eritrean President Issaias Afeworki on Monday held talks with his Chinese counterpart Xi Jinping in Beijing, Eritrean government spokesperson Yemane Gebremeskel said in a statement on his Twitter page. President Xi pledged to “advance China’s strategic partnership” with Eritrea and expressed his country’s opposition to “unilateral sanctions and external interference in Eritrea’s internal affairs”, Yemane said. Yemane also quoted the Chinese leader as saying Beijing would enhance bilateral cooperation in infrastructure, mining, telecommunications and agriculture and fishery. The two leaders, Yemane further said, agreed to establish a consultative mechanism to “expedite the implementation of all-rounded cooperation” between the two nations.

5) Eritrea said Monday it was struck by a magnitude of 4.7 Richter scale earthquake. In a statement issued on the state-run Shabait website, the country’s Mining Ministry said the earthquake occurred 26km north of Adi Keyih town, which is located 59km southeast of the capital Asmara. There were no casualties, the Ministry’s statement added. Eritrea lies on fault lines of the Great East African Rift Valley.   ENDS/

The post Ethiopia Daily News summery May 16 first appeared on Wazemaradio.

The post Ethiopia Daily News summery May 16 appeared first on Wazemaradio.

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