NATIONAL, SOUTH AFRICA – Eskom, South Africa’s power utility, has announced a reduction in load shedding to Stage 2 from the previous Stage 3, effective until 4 pm on Wednesday. This decision follows improvements in generating capacity and a decrease in electricity demand.
According to South African Government News Agency, An Eskom statement revealed that the efforts of Power Station General Managers and their teams in returning units to service over the past weekend led to this improvement. The reduction in electricity demand also played a role, allowing load shedding to be suspended late Sunday night until early Monday morning. The sustained improvement in generating capacity and the expected lower demand justified the implementation of Stage 2 load shedding from midday Monday.
As of Monday, Eskom reported unplanned outages of approximately 13,449MW, with an additional 8,383MW unavailable due to maintenance. Efforts are ongoing to return 739MW of generating capacity to service by Monday evening. Eskom expressed gratitude to those who have heeded the call to use electricity sparingly, highlighting practices such as switching off geysers and pool pumps during peak hours to help alleviate pressure on the power system and contribute to lower stages of load shedding.
ADDIS ABABA – In a significant annual gathering, Ethiopian ambassadors and senior officials from the Ministry of Foreign Affairs convened to focus on the country’s investment climate. The meeting aimed to address the challenges and opportunities surrounding Foreign Direct Investment (FDI) in Ethiopia.
According to Ethiopian News Agency (ENA), the deliberations occurred on the third day of the ambassadors’ meeting. The discussions centered on the investment climate in Ethiopia, identifying priority areas for the government, and evaluating the incentives and challenges associated with FDI. This annual event provides a platform for Ethiopian diplomats and officials to exchange views and strategize on investment-related issues.
Temesgen Tilahun, Deputy Commissioner of the Ethiopian Investment Commission, along with the Commission’s legal advisor Habtamu Simachew, presented detailed insights into the significant legal and institutional reforms introduced under Ethiopia’s Homegrown Economic Reform Policy. These reforms are part of Ethiopia’s broader strategy to enhance its economic landscape and attract foreign investment.
Abdurahman Tahir, Director General of Ethiopian Investment Holdings, elaborated on the efforts made to make the Holdings more accessible to foreign investors. His presentation highlighted the practical steps taken to open up Ethiopia’s economy to international stakeholders.
Ambassador Mesganu Arga, State Minister for Foreign Affairs, who moderated the discussions, noted that the Homegrown Economic Reform policy has improved the investment environment in Ethiopia and has played a pivotal role in liberalizing various economic sectors for foreign investors. Ambassador Mesganu also acknowledged the success of the ‘Invest Ethiopia-2023’ initiative in drawing FDI to the country and emphasized the importance of early preparations for the 2024 event to enhance its effectiveness and outreach.
Participants at the meeting shared their practical experiences and insights regarding the realities of FDI in Ethiopia. These reflections included both the successes and challenges encountered in attracting and managing foreign investments, providing a comprehensive understanding of the investment landscape in Ethiopia.
The annual meeting of ambassadors and senior officials is a crucial event for Ethiopia, offering an opportunity to align diplomatic efforts with the country’s economic goals, particularly in the realm of foreign direct investment.
ADDIS ABABA, ETHIOPIA – Prime Minister Abiy Ahmed has emphasized the role of new tourism destination developments across Ethiopia in creating opportunities for increased private sector investment in the expansion of destinations and services. This initiative aligns with the government’s broader efforts to bolster the tourism sector and tap into the country’s vast tourism potential.
According to Ethiopian News Agency (ENA), the Ethiopian government has been implementing various measures to strengthen the tourism sector, recognizing it as one of the five key pillars of the country’s Homegrown Economic Reform Agenda. Prime Minister Abiy highlighted several ongoing tourism destination development projects initiated by his administration.
Projects such as Dine for Sheger, Dine for Ethiopia, and Dine for Generations are specifically designed to encourage more private sector investments in broadening tourism destinations and services. Prime Minister Abiy noted the critical role of the private sector in the growth of Ethiopia’s tourism industry, stating, “As tourism is one of the five key pillars of our economy, we recognize that the private sector plays a pivotal role.”
These developments indicate a strategic approach by the Ethiopian government to not only enhance its tourism offerings but also to create a conducive environment for private investment, fostering economic growth and diversification in the sector.