Day: March 24, 2023

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Vets Challenged To Improve Services

Nyandarua County Executive Committee Member for Agriculture, Livestock and Fisheries Mr. Francis Miring’u has asked the Kenya Veterinary Board and other stakeholders to help in providing quality veterinary services across Nyandarua. Mr. Miring’u called upon practitioners in the veterinary services to prioritize reporting diseases outcomes and other events of significance for quick intervention. He said reporting of such events will enable the County Government to capture adequate data that will support in planning for interventions. Mr. Miring’u also added that he is enhancing veterinary public health which will focus on the application of veterinary science to protect and improve human well-being. He urged all farmers to be visiting the veterinary officers for correct information about animal diseases. At the same time, Nyandarua Governor Kiarie Badilisha has unveiled some strategies that would help improve veterinary services such as animal welfare, vector control, animal breeding and disease prevention and management. ‘The strategy will improve disease surveillance and control which will help us be prepared and know how to respond to livestock disease outbreaks and also help improve local breeds,’ said Badilisha. The County Chief has also bolstered Nyandarua Veterinary Inspectorate through digitization of data, backed by the formulation and implementation of relevant policies and frameworks.

Source: Kenya News Agency

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Protests Hurting Tourism, CS Malonza

The tourism sector has suffered a major blow since Azimio la Umoja started demonstrations in the country, Cabinet Secretary (CS) for Tourism, Wildlife and Heritage Peninnah Malonza has said. Malonza who spoke at the Maasai Mara National Reserve during the launch of Maasai Mara Management Plan, Spatial Plan and the Greater Maasai Mara Ecosystem Plan regretted that a number of foreigners have cancelled hotel bookings following the recent demonstrations in the country. ‘I am the current CS in charge of Tourism and I can confirm the major threats that the illegal demonstrations have posed to the sector. We have witnessed hotel bookings being cancelled every day,’ said Malonza. Malonza was in the company of Environment and Forestry CS Soipan Tuya, Narok Governor Patrick Ntutu and her three Principal Secretaries Ummi Bashir (Culture and Heritage), John Ololtuaa (Tourism) and Silvia Kihoro (Wildlife). ‘If there is anyone who has been severely affected by the demonstrations it is the Tourism industry which is one of the biggest foreign earners of the country,’ she said. Governor Ntutu who is the Chairman of the Tourism and Wildlife Committee at the Council of Governors said the demonstrations are a great threat to Tourism in Kenya. He said the Narok people depend on Tourism for livelihood and the demonstrations will affect them economically. ‘If the former Prime Minister loves the Maasai Community as he claims, then he should call off the demonstrations immediately because they are affecting the people,’ he said. Their sentiments were echoed by East Africa Legislative Assembly MP David Sankok, Narok East MP Ken Kiloku and Narok Deputy Governor Tamalinye Koech who called on the Azimio La Umoja leader Raila Odinga to call off the demonstrations for the sake of the economy. Sankok asked those engaging in demonstrations to use the same energy to till their farms in this season that it is raining around the country. Narok County largely depends on Tourism as over 70 per cent of its domestic earnings is gotten from the Maasai Mara. In the current financial year, the County government estimated to collect Sh. 2.9 billion from the National Reserve.

Source: Kenya News Agency

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Fisheries-Potential Alternative to Combat Recurring Drought, Food Insecurity in the Horn

The immense fishery potential in the eastern Africa region is an alternative opportunity to build resilience against recurring drought and food insecurity, according to IGAD Senior Blue Economy and Fisheries Expert.

ECOFISH, inland and marine coastal fisheries resources of the Eastern and Southern Africa Indian Ocean region, is deliberating on ways to unleash the development potential of fisheries.

In his opening remark, IGAD Senior Blue Economy and Fisheries Expert Wassie Anteneh said that Africa has diverse fish resources with immense potential and opportunities for contributing significantly to the socio-economic growth.

The fisheries sector in IGAD member countries have been recognized as one of the important growth sector, he added.

“Fishery sector can contribute to accelerate economic growth and development, income generation, nutrition, employment and export earnings and overall food security,” Wassie noted.

The region is severely affected by recurring drought and chronic food insecurity problems, the senior expert said and underscored “thus, the huge fish resources in the Red Sea, Indian Ocean, in the great lakes such as Victoria and Turkana as well as in the big trans-boundary rivers with high fisheries potentials are opportunity to diversify livelihoods and increase community resilience.”

According to him, knowledge based utilization and management of the huge potential of fisheries in the cross border areas including sustainable of food safety standards is of paramount importance.

The inland and marine coastal fisheries resources of the Eastern Africa, Southern Africa and Indian Ocean region represent a natural wealth of about 50 billion Euros.

Source: Ethiopian News Agency

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IFRS Compliant Financial Statement Pivotal to Participate in Capital Market, Says Authority Director-General

Having the International Financial Reporting Standards (IFRS) compliant financial statement would be beneficial to participate in the capital market, according to the Ethiopian Capital Market Authority (ECMA).

IFRS bring transparency by enhancing the international comparability and quality of financial information, enabling investors and other market participants to make informed economic decisions.

Accurate financial documentation is also necessary to measure important metrics, including debt-to-asset ratios, which investors use to evaluate how effectively companies pay down debt and generate revenue.

ECMA Director-General Brook Taye told ENA that the most important element IFRS compliant are not necessarily for anybody but for the company itself because it would let you know and understand the true value of your company.

“IFRS bring its new ways of understanding the value, measuring the value of a company.” So, the first beneficiary of IFRS is the company itself.

The director-general elaborated that by adopting IFRS private companies would ultimately know the true value of their company. And knowing the true value of a company as an owner is very beneficial as you know where you stand.

Also, IFRS are crucial for financial statements to be consistent, reliable, and comparable between every business in any country.

“IFRS’s main purpose and benefit are for the companies themselves. That is the primary benefit and it would allow for example if they want to participate and list in the capital market. Then having the IFRS compliant financial statement would be beneficial because you would know the true extent of the companies’ performance.”

For investors, he affirmed the standards give some confidence that the company has been properly recording its performance, paying its taxes, and the asset valuation of many properties that company have.

In general, the IFRS is important for the overall economy, Brook noted.

The process of realizing a capital market in Ethiopia is well underway in order to ensure the existence of a functioning market soon, it was learned.

The capital market is a financial system that allows private and public institutions to buy and sell equity and debt instruments companies to raise long-term funds through the sale of securities such as stocks and bonds.

Source: Ethiopian News Agency

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Free Trade Area Agreement Crucial in Lifting Africa Out of Poverty: ECA Acting Secretary

The African Continental Free Trade Area Agreement (AFCFTA) will give space to lift Africa out of poverty and improve the fundamentals for investment, ECA Acting Executive Secretary Antonio Pedro told ENA.

According to him, the recent 55th Session of the Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development (CoM2023) provides opportunity to engage on important issues on Africa, identify issues of growth that contribute to development and economic transformation, while addressing the problem of inequality and vulnerability of countries.

These working sessions with our ministers aimed to identify what are the major issues such as the reform of the architecture system and the international finance system, which is very important to have access to money, he added.

Pedro noted that Africa is at the center of global sustainability transitions, including decarbonization of production systems, electrification of transport infrastructure, accelerated deployment of renewable energy, demographic dynamics and climate action in general.

These transitions should underpin Africa’s path to recovery, ensuring structural transformation and economic diversification, building resilience, and achieving sustainable and inclusive growth.

Furthermore, the acting executive secretary noted that the conference identified the opportunities of the continent and the natural resources, including managers that serve to make the transition to sustainable energy.

“Africa’s problems are not the lack of vision, strategy and plan; but rather it is a problem of plan implementation,” he stressed.

Pedro believes that it is imperative to chart a course of structural development that is equitable and responsive to the needs of the people, with sustainable industrialization and the African Continental Free Trade Area Agreement (AFCFTA) playing a catalytic role to strengthen preparedness for future shocks.

We need to create between 16 and 17 million jobs for the youth because domestication of these strategies is important,’’ he revealed.

“AFCFTA will give us the space we need to improve the fundamentals for investment, for example, because we are now talking about a population of 1.4 billion people. That is the size of countries like China, which with this population has managed to transform the country. It has lifted over 400 million people out of poverty. That’s also our goal.”

The Continental African Free Trade Area is a lever to bridge the gap of inequality and vulnerability while promoting recovery and transformation in Africa, he underlined.

He also pointed out that it will bring the countries’ supply chains closer together and ensure a degree of self-sufficiency for essential products such as medicines, food, and fertilizers.

Moreover, it will also provide us with a unique negotiating tool when we negotiate justice and equity in the use of our natural resources for development.

The acting executive secretary finally said that Africa must take the lead on climate action. “We cannot ignore the fact that we suffer disproportionately in terms of impact and financing, while we have significant opportunities to balance in climate financing.”

Source: Ethiopian News Agency

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Int’l Community Urged to Participate In Cultivating “Generation Medemer” Book

Press Secretary at the Office of the Prime Minister, Billene Seyoum called on the the international community based in Addis Ababa to have an active part through various institutional interventions towards cultivating “Generation Medemer.”

The English version of Prime Minister Abiy Ahmed’s newest book ‘Generation Medemer’ was introduced to the international community residing in Addis Ababa in an event jointly hosted by the Office of the Prime Minister and the Ministry of Foreign Affairs last night in Addis Ababa.

The event has also brought together members of the business community and high level government officials in addition to the diplomatic communities in Addis Ababa.

Recall ”Generation Medemer”, which is the third series of Prime Minister Abiy Ahmed’s book, was launched last Saturday.

Speaking at the event, the press secretary said that through cultivating the culture of reading, the Medemer books series have also prioritized development projects.

The press secretary pointed out that the prime minister has encouraged the proceeds of the sales for constructions of various legacy and generation projects such as the stadiums, libraries and parks as well as the renovation of natural and historic tourist attractions in various parts of the country.

Therefore, Billene called on the diplomatic and international organizations based in Addis Ababa to support the development of the projects for the coming generation.

“To realize the prosperous development of Ethiopia, we ask you our invited guests to take an active part through your various institutional interventions towards cultivating ‘Generation Medemer’. This Generation will take the nation and the continent to greater heights.”

She further stated that: “We ask you to order the book in bulk. By doing so you are placing your print in supporting the development projects for the coming generation and you are also enabling augmenting a reading culture.”

Foreign Affairs State Minister Mesganu Arga said on his part that the book is aimed at forging intergenerational linkages by debunking the erroneous perceptions and narratives.

Nothing that the Medemer concept can be loosely translated as “synergy”, Mesganu noted that it focuses on Ethiopia’s tapestry of rich heritage while working in unison for its prosperous future.

“Medemer is a new framework of political thought that provides a perspective about our past and insights into our future. The framework aims to heal our wounds, cure our ailments and resolve our problems,” the state minister underlined.

He also said that the book would promote national consensus, peace and development through ensuring good governance. Above all, the book is instrumental in entrenching the importance of national dialogue and transitional justice to Ethiopia, Mesganu revealed.

Dr. Mehret Debebe, President of the African Leadership Excellence Academy (AFLEX) presented a book review and said the book aspires to create a new generation that loves Ethiopia, Africa and the global community.

“The book aspires to create a new generation called ‘Generation Medemer’ that loves the nation and the continent and the global community as well,” he stated.

Mehret, who is also a well-known practicing psychiatrist and an author of two books underscored that Prime Minister Abiy in his “Generation Medemer” book shows the importance of alignment energies to build a strong nation.

Prime Minister Abiy had published two books titled “Medemer” and the “Medemer Journey.”

This latest series, “Generation Medemer”, third series of Prime Minister Abiy Ahmed’s book, is published in the Amharic, Afan Oromo, and English languages.

Source: Ethiopian News Agency

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Gov’t Will Continue Arresting Corrupt Persons, Says Police Deputy Commissioner

The government will continue to arrest persons engaged in corrupt practices, Federal Police Deputy Commissioner, Zelalem Mengistie said today.

According to him, police have been arresting high profile individuals on suspicion of corruption in the bid to fight corruption over the last four years.

Speaking at a consultative meeting organized by the United Nations Office on Drugs and Crime in coordination with the Federal Ethics and Anti-Corruption Commission, the deputy police commissioner vowed to continue arresting corrupt persons at all levels and sectors.

However, he noted that fighting corruption requires stakeholders to work together across various sectors, including the private sector.

All stakeholders should work together to enable our people to get the services they deserve, he stressed.

Head of Resident Coordinator Office for Ethiopia, Hanna Elisabeth Schmitt said on the occasion that the abuse of power for private financial or non-financial gain is one of the leading barriers to inclusive development.

And in Ethiopia, the rise of corruption and the lack of good governance is inextricably linked to the inefficiency in delivering basic social services and the country’s challenges to advancing sustainable development, she added.

For businesses, corruption represents a lack of confidence and trust among investors, customers, employees, and the general public.

Businesses are one of the stakeholders on the front line of feeling the vulnerabilities through the covert and overt costs of corruption, whether it is through illegal taxation, custom bribery or the sanctions and consequences that come from engaging in corrupt practices, the head elaborated.

According to Schmitt, investing 40 billion USD per year until 2030 is a must in a bid to end world hunger.

However, trillions of USD is lost per year to corruption, she said, adding corruption is diverting finance away from vital sectors.

The head revealed that the world is losing over 2.6 trillion USD annually due to corruption.

“We have a blueprint to address our common challenges, from tackling poverty and hunger to advancing gender equality and confronting accelerating climate change,” she stated.

However, these efforts are being undermined by corruption.

In many ways, global efforts to confront corruption have ground to a standstill, Schmitt pointed out, estimating that some 131 countries have made no significant progress against corruption over the last decade.

Hence, people cannot access lifesaving health care or children cannot get a quality education, due to corruption.

Furthermore, the head said that corruption not only follows conflict but is also frequently one of its root causes.

“It fuels conflict and inhibits peace processes by undermining the rule of law, worsening poverty, facilitating the illicit use of resources, and providing financing for armed conflict.”

The half-day consultative meeting was attended by private and public sector representatives to promote integrity within the private sector, in particular by encouraging dialogue between academia, civil society, the private sector and the public sector to develop joint solution and fight corruption in a sustainable manner.

Source: Ethiopian News Agency