Day: June 1, 2024

Addis Ababa: The government of Ethiopia reaffirmed commitment to work with the private companies in the construction sector through Public Private Partnership.

On a bright morning in the heart of Addis Ababa, the bustling city welcomed the inauguration of a remarkable housing project carried out by Gift Real Estate, a testament to the power of collaboration between the government and private entities.

Urban Development and Construction Minister Chaltu Sani, Deputy Mayor of Addis Ababa, Jantirar Abay, executives from Gift Real Estate and other invited guests were in attendance at the inaugural ceremony.

As the ceremony unfolded, Minister Chaltu Sani expressed government’s commitment to fostering growth, praising the city’s development strategies that seamlessly integrate progress and sustainability.

Chaltu highlighted the diverse development options being explored to support infrastructure and housing projects, nurturing the nation’s urban growth.

Her words resonated with the audience as she acknowledged
the pivotal role played by public-private partnerships, crediting Gift Real Estate as a shining example of such collaborations.

Recounting Gift Real Estate’s impressive track record, which includes the successful completion of two modern condominium housing projects, Chaltu expressed her confidence in the continued intensification of government-private sector efforts to address the pressing housing challenges faced by many Ethiopians.

In a clarion call to investors, both domestic and foreign, the minister vowed to strengthen the government’s support for companies engaged in the housing construction sector.

Her invitation was a resounding endorsement of the immense potential that lies in fostering a diverse and thriving real estate industry.

Addressing the challenges posed by rising construction material costs, Chaltu advocated for a two-pronged approach: bolstering local production capabilities and embracing modern technologies. Her pragmatic vision underscored the government’s commitment to overcoming ob
stacles and ensuring the sustainable growth of the construction sector.

As the ceremony drew to a close, Gift Real Estate’s CEO, Gebreyesus Igata, took the stage, his words brimming with pride. Introducing the company’s latest marvel, a 54,000-square-meter ultra-modern village in the Lemi Kura area, he recounted the success of their previous projects in Yeka and CMC. This third village, spanning 54,000 square meters in the Feresbet area, stood as a testament to Gift Real Estate’s enduring commitment to redefining urban living.

With a track record spanning over three decades in the construction industry, Gift Real Estate has embraced a philosophy of “building communities.”

Their villages are meticulously planned to foster a harmonious blend of modern amenities and the cherished traditions of Ethiopian social life. This unique approach sets their developments apart, offering a diverse array of housing options, from towering 24-floor apartment buildings to cozy villas, town-houses, and row houses, complemente
d by an array of shops and services.

As the vibrant colors and sleek designs of the new village unfolded before the attendees’ eyes, it became evident that this project was more than just a collection of buildings; it was a celebration of innovation, collaboration, and a shared vision for a prosperous and sustainable urban future.

Source: Ethiopian News Agency

Addis Ababa: Sierra Leone’s Ambassador to Ethiopia Harold Saffa said there are areas that Sierra Leone needs to emulate from the ongoing development progresses in Ethiopia.

Speaking to ENA, ambassador Saffa said the bilateral relationship between Ethiopia and Sierra Leone is growing.

‘This is a great nation [Ethiopia]. We want to benefit from what Ethiopia has done. The country has been able to make so much progress, because Sierra Leone is also related to Ethiopia in the sense that we are all Africans.’

By the sort of progress that Ethiopia is making; I have been in Addis Ababa since January, and I have seen the level of infrastructural development.

‘…. We in Sierra Leone are trying to place emphasis on food self-sufficiency, we want to know what Ethiopia is doing this regard.’

The two countries can exert efforts in technology or knowledge transfer So that as an Africans they can develop together, the ambassador indicated.

The ambassador also commended the ongoing infrastructure development activitie
s in Addis Ababa.

The encouraging development efforts in Ethiopia will inspire a lot of other African nations in order to be able to benefit from it, he said ‘We are glad that the African Union is sitting here in Addis Ababa.’ .

Moreover, the ambassador added that Ethiopian Airlines flights to Freetown will open up new horizons to enhance tourism cooperation between the two countries.

Ethiopian Airlines, the largest network operator in Africa, launched thrice-weekly passenger services to Freetown, Sierra Leone yesterday.

He said Sierra Leone’s pristine beaches and historic sites will now be more accessible to tourists, while the rich cultural tapestry and historical landmarks of Ethiopia awaits Sierra Leonean explorers.

‘This exchange will undoubtedly enrich our cultural landscapes, foster greater people to people ties, and promote mutual appreciation of our diverse heritages,’ Saffa noted.

The people in Ethiopia are hospitable. “When you go around the city you find a lot of smiling people welcoming you
,” the ambassador conclude.

Source: Ethiopian News Agency

Addis Ababa: Ethiopia is actively pursuing the diversification of ports with the aim of boosting its economy, Transport and Logistics State Minister Dange Boru said.

The focus is on Ethiopia’s efforts to expand its options for maritime trade, which is seen as a strategy to drive economic growth and development within the country.

A half-day panel discussion organized by the Addis Ababa University (AAU) and Ethio-Logistics Sectorial Association (ELSA) was held under the theme ‘Ethiopia’s port diversification strategy: opportunities and challenges from stakeholder perspective’ today.

In his opening remark, Transport and Logistics State Minister Dange Boru emphasized the importance of strengthening collaboration among stakeholders to facilitate the establishment of alternative ports for the country.

Collaboration among stakeholders, including government agencies and the private sector, is essential for developing innovative strategies to invest in critical infrastructure.

The state minister added that it is
imperative for Ethiopia to significantly diversify access to its neighbors ports by entering into the necessary arrangements with them and building infrastructure.

This would help it, among others, to enhance its economic competitiveness, support its development and consolidate its influence in the region.

‘Let’s us seize this moment to reaffirm our commitment to unlocking Ethiopia’s great potential through port diversification. By working together we can overcome challenges, maximize opportunities and pave the way for a more prosperous and resilient economy,’ Dange stated

Experts at the panel also emphasized the importance of Ethiopia’s port diversification to ensure economic growth and enhance bargaining power of the country.

Among the panelists, Addis Ababa University economics lecturer Birhanu Denu said sustainable access to sea promises significant boost to Ethiopia’s economy as the country is a huge economy in Africa.

Such access would facilitate seamless import and export processes, minimize exter
nal impediments and ensures expedited trade, he noted, adding that alternative ports would not only strengthen Ethiopia’s bargaining power but also serve as a deterrent against security threats.

AAU President Office Head Matewos Ensermu on his part said access to alternative ports offers multifaceted benefits.

Ethiopia should therefore participate in developing ports either unilaterally or in partnership with other stakeholders, he underscored.

Ethio Logistics and Sectoral Association President, Elizabeth Getahun said access to alternative ports strengthens competitiveness and facilitates trade.

Ethiopian Shipping and Logistics Maritime Service Deputy CEO Siraj Abdulahi stated on his part that a port is not just a physical location for goods and stressed the importance of having various alternative ports.

He also emphasized the need to fulfill the requirements of various producers, including infrastructure, customs, transport protocols, and other regulations, in accessing alternative ports.

The panelist
s also emphasized the necessity of expanding alternative ports across all corridors of the country to get low tariffs and stimulate economic growth in regional states.

Source: Ethiopian News Agency

Addis Ababa: Readymade Textile and Apparel are being manufactured at large scales in Ethiopia by utilizing local raw materials, Manufacturing Industry Development Institute revealed.

The 12th International Research Conference on Cotton, Textile and Apparel Value Chain in Africa (CTA-2024) held at the Ethiopian Institute of Textile and Fashion Technology (EiTEX) in Bahir Dar University.

The two-day conference featured insightful discussions, presentations of research outputs by esteemed presenters, and commentary from specialists within the field of study.

Deputy Director General of Manufacturing Industry Development Institute, Sileshi Lema said on the occasion that the national movement being carried out under the theme ‘Made in Ethiopia’ has enhanced the domestic capacity of the industry sector.

Ethiopia has been importing textile and apparel products from abroad by spending a minimum of one billion USD annually over the past years, Sileshi said however, he indicated that currently the country is produci
ng textile and apparel in large scales to substitute imports.

Scientific Director at the Ethiopian Institute of Textile and Fashion Technology (EiTEX) of Bahir Dar University, professor Tamerat Tesfaye on his part said the Institute is discharge its role by providing training to produce qualified professionals and skilled manpower in the field.

Among the graduate of the Institute, 25.6 percent have already established their own business and provided job opportunities for others, he added.

“The textile Apparel industry plays a pivotal role in supporting livelihoods through job creation, driving economic growth and fostering cultural experiences across the African continent,”

Source: Ethiopian News Agency