Day: April 20, 2024

In an effort to ensure that fish is distributed to more consumers across the country, the Namibia Fish Consumption Promotion Trust (NFCPT) has partnered with selected third parties.

The partnership, which involved 13 distribution agents from 11 regions, was established through a pilot Agency Distribution Project (ADP) with agreements signed in Walvis Bay on Friday.

According to NFCPT Chief Executive Officer, Victor Pea, the pilot project was initiated after NFCPT realised that its expansion had made it difficult for small fish distributors in towns where it operates to compete with the trust, leading to some businesses closing or experiencing a decline in their fish sales.

‘While NFCPT expanded and saw an increase in fish distribution year-on-year, our growth inadvertently isolated us and somewhat conflicted with our aim to make fish more accessible to Namibians. Therefore, in 2017, when we were formulating the new Strategic Plan, management proposed a change in mission, shifting from aspiring ‘To be the p
referred fish distributor in Namibia’ to being ‘The catalyst for fish consumption for a healthy Namibia’,’ Pea explained.

He added that this change in focus means NFCPT is transitioning from being competitive to being collaborative and empowering, and it is this shift that gave rise to the idea for the ADP. The Distribution Model, with an initial investment of N.dollars 807,200, is a collaboration between NFCPT and the Namibia University of Science and Technology’s Business Innovation Institute.

Phase 1 of this project took place in 2022, where an information and training session was held for interested individuals, who subsequently applied for selection as agents.

The agents comprise 13 companies, ensuring, according to Pea, good gender and youth representation.

Chairperson of the NFCPT Board of Trustees, Suzan Ndjaleka, noted that during the project spanning over six months, NFCPT will evaluate the financial viability and performance of the 13 distribution agents.

‘The data collection during the pilot
phase will be crucial, not only for deciding whether to fully implement this project, but also to assess what kind of support is necessary for a successful partnership between NFCPT and distributors,’ she stated.

Source: The Namibia Press Agency

Addis Ababa: The Ministry of Industry and Japan International Cooperation Agency (JICA) have signed today a Memorandum of Understanding (MoU) to support the ‘Let Ethiopia Produce,’ national movement.

The MoU was signed by Minister of Industry Melaku Alebel and Chief Representative of JICA Ethiopia Office, Oshima Kensuke, it was learned.

The project focused on enhancing manufacturing industry competitiveness through the implementation of the ‘Let Ethiopia Produce’ (Ethiopia Tamrt movement) that will span the next four years. And it will include technical, policy, and capacity building support.

Recall ‘Let Ethiopia Produce’ launched last year with the aim to enhance the competitiveness of the country’s manufacturing sector and achieve tangible advancements in the industrial landscape.

Speaking at the signing ceremony of the MoU, Industry Minister Melaku emphasized that the accord is instrumental to receive support from JICA not only in terms of financial assistance from JICA but also for knowledge, skills,
and technology transfer.

Most importantly, knowledge and technology transfer would have a vital importance in bringing about significant transformations in development and competitiveness of the Ethiopian manufacturing industry.

The Chief Representative of JICA Ethiopia Office, Oshima Kensuke, stated that Japan will provide backing to ‘Let Ethiopia Produce’, a key national movement to revolutionize the manufacturing industry sector of the nation.

The representative also reaffirmed that support will include knowledge and technology transfer, along with capacity building initiatives.

Source: Ethiopian News Agency

Addis Ababa: The Ethiopian delegation led by Finance Minister Ahmed Shide met with UK State Minister for Development and Africa Andrew Mitchell on the sidelines of the 2024 WB-IMF Spring Meetings.

The discussions focused on Ethiopia’s economic prospects and resilience amidst local and evolving global challenges, according to Ethiopian Embassy in Washington D.C., USA.

It also noted UK’s investment interests in Ethiopia, as well as its support to regional stability and integration in the Horn of Africa.

The finance finister expressed appreciation for UK’s continued support to Ethiopia’s humanitarian needs and development agenda, including on economic reforms, infrastructure, human development, and private sector investment.

The UK Minister on his part reiterated his country’s commitment and advocacy for an ambitious IDA21 replenishment.

The two sides also agreed on ways of deepening bilateral cooperation in strategic and priority sectors in Ethiopia.

Source: Ethiopian News Agency

Addis Ababa: Ethiopia has been earning 50 million US dollars on average per annum from the marines it trains and gets hired in different countries, Ethiopian Maritime Authority Director-General Abdulber Shemsu disclosed.

Ethiopia has been executing training projects for seafarers in a public-private partnership arrangement for the purpose of employment at international shipping companies.

Having a long history in maritime transport, Ethiopia is a member state of the International Maritime Organization, a specialized agency of the United Nations.

The director-general told ENA that Ethiopia’s membership of the International Maritime Organization is enabling it to train marines for manning agencies and earn foreign currency.

Foreign currency has been obtained in a form of remittances from the marines, it was learned.

According to Abdulber, 36 million USD was earned during the first eight months of this Ethiopian fiscal year.

There is still untapped economic potential in this sphere, the director-general st
ated, adding that the nation will undertake a concerted effort to maximize the revenue.

Ethiopia has 7,500 qualified marines, and the plan is to raise this figure to 40,000 in the coming five years.

Abdulber further revealed that the Ethiopian Maritime Authority is working in collaboration with Ministry of Defense to train additional marines.

Moreover, the authority is also providing the necessary cooperation and support for Arba Minch, Adama Science and Technology as well as Hawassa universities to teach and train marines.

Source: Ethiopian News Agency

Addis Ababa: Ethiopia’s Finance Minister Ahmed Shide reiterated Ethiopia’s appreciation of the Framework and efforts by creditors and partners to improve the debt treatment process, including the advocacy for automatic debt service suspension.

Ahmed Shide represented Ethiopia at the Global Sovereign Debt Roundtable/GSDR co-chaired by the IMF, WB, and Brazil as the G20 Presidency, during the 2024 Spring Meetings, according to Ethiopian Embassy in Washington D.C., USA.

The meeting was attended by Paris Club and non-Paris Club creditors, debtor countries, and representatives of the private sector.

The discussion focused on progress on debt relief processes to date and measures that can be taken to accelerate debt restructuring and make them more efficient, including under the G20 Common Framework, it was learnt.

The minister further expressed Ethiopia’s position on the ongoing debt restructuring discussions under the Common Framework.

He reiterated Ethiopia’s appreciation of the Framework and efforts by cre
ditors and partners to improve the debt treatment process, including the advocacy for automatic debt service suspension.

The finance minister underscored that the actions that can be taken now should provide timely debt relief for countries under debt distress, including alignment of interest between official creditors and private creditors/bondholders.

He also stressed the need to shorten the timeline for debt treatment and avoid protracted negotiations on debt restructuring.

The meeting agreed the GSDR will continue to work closely together and with other partners to further support the international response to current debt challenges.

Source: Ethiopian News Agency