Wondim.negera

CEO, Ethiopia Commodity Exchange (ECX)

[Abiy Ahmed Ali 🇪🇹 @AbiyAhmedAli]

In a historic milestone for our economic and financial landscape, we have officially rung the bell to launch the Ethiopian Securities Exchange - the first stock exchange for our country. Invest in Ethiopia — a fast-growing economy with immense potential and a dynamic trajectory toward prosperity.

[Sandokan D.¶ሳንዶካን🇪🇹 @SandokanDebebe]

#የነዳጅ_ዋጋ አነስተኛ የሆነባቸው ሀገራት ዝርዝር ።

አስገራሚው ነጥብ : ከኢትዮጰያ ውጭ ያሉት ሀገራት በሙሉ የነዳጅ አምራች ሀገራት መሆናቸው ነው።

አነስተኛ ገቢ ያለውን የህዝባችንን ክፍል ለመደገፍ የምንሄደው እርቀት ማሳያ ነው።

[Abiy Ahmed Ali 🇪🇹 @AbiyAhmedAli]

Before officially inaugurating ‘Quality Village ‘today, I had the opportunity yesterday to visit and review the National Quality Infrastructure we have developed.

This critical institution is designed to catalyze the competitiveness of our local products in global markets and enhance our participation in global value chains.

As one of our leading national institutions, it will play a vital role in strengthening our export capabilities and ensuring we remain competitive in the international arena.

[Shimelis Abdisa @ShimelisAbdisa]

The Future of Ethiopia: agricultural transformation
Last summer/Meher season we covered over 11.6 million hectares by rainfed with different crops. We are harvesting aggressively and the yield is very promising. I’m really proud of our great farmers! Thank God!!!

[Yasmin Wohabrebbi @yasminw101]

HE Dr Kassahun Gofe, Minister of MoTRI welcomed all Trade Ministers from the continent and the @AfCFTA Secretary General. The 15th CoM meeting is expected to pass decisions on key outstanding matters that enhance the AfCFTA implementation.

[Yasmin Wohabrebbi @yasminw101]

The 15th African Continental Free Trade Area #AfCFTA Council of Ministers meeting is officially opened by HE Amb Taye Atske Selassie President of Ethiopia.

[Ethiopian Capital Markets Authority @CMAEthiopia]

Step up to new opportunities in capital markets. Join us at the Ethiopia Capital Market Summit 2024 and be part of the journey toward economic growth. #CMS2024 #ECMA

[Ethiopian Capital Markets Authority @CMAEthiopia]

Explore Ethiopia’s capital markets at our 3-day summit!

Share insights, explore investments, and tackle challenges with finance leaders, investors, and policymakers.

Let's build a resilient financial future for Ethiopia.
Register at: https://t.co/8DnXFJA4hU

#CMS2024 #ECMA

[Ethiopian Capital Markets Authority @CMAEthiopia]

Be part of the journey as we unlock growth and opportunities at the Ethiopia Capital Market Summit. Join us in shaping a resilient and inclusive economy for all.

#ECMA #CMS2024 #capitalforall

[Zemedeneh Negatu @Zemedeneh]

U.S.-Africa relations in 2nd Trump presidency, my interview with First Post TV:

*U.S.-Africa trade only 1% of U.S’s global trade. One reason Africa will remain a low priority

*Likely prioritize strategically more important countries including #Nigeria #Kenya #Ethiopia #SouthAfrica

https://t.co/gMPrIGREMF

[UN Human Rights Council @UN_HRC]

The @UN🇺🇳 General Assembly has elected #Ethiopia🇪🇹 as a member of the United Nations Human Rights Council (@UN_HRC) for a three-year term beginning on 1 January 2025.

[National Bank of Ethiopia @NBEthiopia]

የኢትዮጵያ ብሔራዊ ባንክ ለአምስት ባንክ ላልሆኑ የውጭ ምንዛሪ ቢሮዎች የስራ ፈቃድ ሰጠ።

The National Bank of Ethiopia Grants Operational Licenses to Five Non-Bank Forex Bureaus.

[Zemedeneh Negatu @Zemedeneh]

The IMF issued a VERY positive statement today about Ethiopia’s economy. Key highlight:

• “Implementation of #Ethiopia’s homegrown economic reform program, including the adoption of a floating exchange rate regime in late July, is advancing well. The exchange rate in the official market has largely closed the gap to the parallel market, with little disruption to the broader economy.”

• “Successful implementation of reforms will help strengthen Ethiopia's macroeconomic stability, improve foreign exchange availability, and support sustainable economic growth.”

Below is the IMF’s full statement:

Washington, DC: A staff team from the International Monetary Fund (IMF) led by Mr. Alvaro Piris, visited Addis Ababa from September 17 to 26, 2024, to discuss progress on reforms and the authorities’ policy priorities in the context of the first review of Ethiopia’s economic program supported by the IMF’s Extended Credit Facility (ECF). The arrangement was approved by the IMF Executive Board on July 29, 2024, for an initial total amount of SDR 2.556 billion (about US$3.4 billion at that time).

At the conclusion of the visit, Mr. Piris issued the following statement:

“The IMF staff team and the Ethiopian authorities have reached staff-level agreement on the first review of Ethiopia’s economic program under the ECF arrangement. The agreement is subject to approval of IMF management and the Executive Board in the coming weeks. Upon completion of the Executive Board review, Ethiopia would have access to SDR 255.60 million (equivalent to about US$345 million).

“Ethiopia’s economic reform program, including the transition to a market-determined exchange rate, is advancing well. Exchange rate movements following the adoption of a floating exchange rate regime on July 29, 2024, have largely closed the gap between formal and parallel markets, with little disruption to the broader economy. The new exchange rate regime is alleviating the acute shortage of foreign exchange that previously existed, lifting a significant impediment to economic activity.

“Looking ahead, steady advancement of the homegrown economic reform plan will help anchor macroeconomic stability and support economic growth. Continued tight monetary policy and the end of monetary financing of government will reduce inflation while a temporary fiscal spending package will help cushion the socio-economic impact of the reforms. Revenue mobilization and reforms to strengthen the financial position of state-owned enterprises will create space for sustainable priority spending by the government.

“The staff team is grateful to the authorities for good discussions and their strong action to ensuring success of the IMF-supported economic program. The mission met with Minister of Finance Ahmed Shide, Governor of the National Bank of Ethiopia Mamo Mihretu, State Minister of Finance Eyob Tekalign, and other senior officials. Staff also had productive discussions with banks and private companies.”

https://t.co/K8ru6VzwKj.

[Abiy Ahmed Ali 🇪🇹 @AbiyAhmedAli]

This year's rice production is much larger than that of last year.

[IGAD Secretariat @IGADsecretariat]

We are proud to announce H.E. @AbiyAhmedAli, Prime Minister of the Federal Democratic Republic of Ethiopia (@PMEthiopia), as the new IGAD Tourism Champion for a period of 3 years. His visionary leadership will play a pivotal role in advancing sustainable tourism across the region, driving economic growth, cultural preservation, and environmental stewardship for the benefit of all IGAD Member States.
#DiscoverIGAD
#IGADSTMP
#IGADTourism #SustainableDevelopment #IGADTourismChampion

#DiscoverIGAD

Sustainable Tourism Master Plan 2024-2034: A Vision in Action

@ECA_Official, @Landoforigins, @SSudanTourism, @MOISOMALIA, @MTWAUganda, @Min_TourismKE, @DjibTourism.

[Abiy Ahmed Ali 🇪🇹 @AbiyAhmedAli]

Sudden oversight of the Ministry of Trade and Regional Integration’s exhibition. A promising curation featuring our locally produced goods for sale.

[Eyob Tekalign Tolina(PhD) @EyobTolina]

A must attend!

[Ethiopian Capital Markets Authority @CMAEthiopia]

📣 ECMA has a new look!

We’re turning the page with a fresh new logo! Stay tuned for more updates as we continue to move forward.

[National Bank of Ethiopia @NBEthiopia]

The Board of Directors of the National Bank of Ethiopia has issued a directive allowing banks to invest in and establish subsidiary capital market service providers, including investment banks. This strategic decision is anticipated to significantly enhance the role of banks in nurturing a robust and effective capital market ecosystem.

See directive here: https://t.co/AcxAzeh6UK

[Zemedeneh Negatu @Zemedeneh]

Africa’s fastest growing economies, forecast:

2024 %
1. Niger 9.1
2. #Rwanda 7.6
3. #Senegal 7.1
4. #Ethiopia 7.0

2025
1.Senegal 9.7
2.Rwanda 7.8
3.Ethiopia 7.0
4.Cote d’Ivoire 6.4

2026
1.Rwanda 7.5
2.Ethiopia 7.0
3.#Uganda 6.6
4.Guinea 6.5

Source: @WorldBank’s June 2024 “Global Economic Prospect” report.

Only two countries - Rwanda & Ethiopia - are forecast to be amongst the four fastest growing economies for three years in a row.

Sub-Saharan Africa’s four largest economies, ranked by GDP growth (%) in 2024, ‘25 & ‘26:

1. Ethiopia 7.0, 7.0, 7.0
2. Kenya 5.0, 5.3, 5.3
3. Nigeria 3.3, 3.5, 3.7
4. South Africa 1.2, 1.3, 1.5

The underperformance by #SouthAfrica and #Nigeria drags-down SSA’s overall growth which is forecast to average 3.5, 3.9 & 4.0 in 2024, ‘25 & ‘26.