Print Version Vol 17 No 842

Volume 17 No.
842, SUNDAY, June 19, 2016
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Content Matters
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E i g h t ( 8 ) b i r r o n ly
Ethiopian Shipping Lines Loses 19M Br to Forgery

Charged as mastermind of the crime was a former employee of ESLSE with negligent bankers also suspect
By SAMRAWIT TASSEW
FORTUNE STAFF WRITER
The Ethiopian Shipping Lines &
Logistics Services Enterprise
(ESLSE) lost 19 million Br via illegal
withdrawals from its account at
the Commercial Bank of Ethiopia's
Half Billion
Dollar Tobacco
Deal on Hold
(CBE), Finfine Branch. The Federal

Ethics & Anti-Corruption Commission
have charged 14 people including
four mid-level managers of the Bank
and three other individuals as main
actors in the crime.
In February and March 2016, four
consecutive transfers were made from
the ESLSE account to the account of

Welka Plc at CBE's Birhanena Selam
Branch.
According to the charge, instructions
via four pieces of correspondence on
the Enterprise's letterhead ordering
the transfers to Welka Plc were
forgeries, later confirmed by the
Forensic Department of the Federal

Police Commission.
Not only the letterheads were forged.
Other supporting documents of
Welka Plc including its business
licence, registration, the company's
authenticated Articles of Association
and the founding CEO's identity
card were all found to be forged

documents.
All bore copied signatures and
stamps of the respective offices, the
forensic report disclosed.
(Continued on PAGE 8)
World Bank Loan to Ethiopia Hits Record High

The interest-free loan is to finance five projects targeting urban and rural areas, education,
SMEs and refugees in five years
By DAWIT ENDESHAW
The failure of Japanese Tobacco
International (JTI) to pay the half a
billion dollars it offered in the bid
for a 40pc share of the Ethiopian
National Tobacco Enterprise (NTE)
has delayed the transfer of the shares.
The Ministry of Public Enterprise
had sent a letter of award signed by
Meseleche Wodajo, state minister, to
the company demanding settlement
by June 8, 2016.
As per the terms outlined in the bid
document, the letter demanded a
100pc payment, which is required of
a foreign bidder.
A source close to the process told
Fortune that JTI came up with new
demands on the asset valuation of
the NTE.
JTI has also responded to an email
inquiry from Fortune stating that the
company is still in a constructive and
positive dialogue with the Ministry.
Despite the claimed dialogue and
demand for clarification, the bid
document clearly states that failure
to comply with the ministry's call
Photo by: Geremew Tigabu
One month after the

opening, Japanese investors
have not yet paid for their
share of National Tobacco
Enterprise
thiopia's loans secured

from the World Bank (WB)
reached a record-high 1.8
billion dollars during the
Ethiopian fiscal year. Minister of
Finance & Economic Cooperation,
Abdulalziz Mohammed and the WBs
Country Director for Ethiopia, Sudan
and South Sudan Carolyn Turk, signed
an 829 million dollar loan agreement
By TESFA MOGESSIE
at the Ministry last week.
Five projects will be financed by the
loan. These are modernisation of
the urban transport system, support
for access to finance for small and
medium enterprises nationwide,
expansion of electrification in rural
areas, an Eastern and Southern Africa

Higher Education Centre of Excellence
and improving access to basic social
services and economic opportunities
for communities hosting refugees.
Since the year 2012, 1.6 billion
dollars is the Bank's maximum
commitment recorded in 2016 up
by 25pc high from the previous year.
Conversely, 970 million dollars was
the lowest commitment recorded in

2012. The Bank has committed more
than 6.7 billion dollars to more than
10 projects in five years beginning
in 2012. Up to March 2016, the
portfolio had 40 active projects with
a commitment value of around seven
billion dollars.
CBE Switching Systems in Bid for World Class Status

In a bid to transform the existing seven-year-old SWITCH system, the Commercial Bank of Ethiopia is close to finalising a procurement process
that has been taking place since May 2016. The SWITCH system, which will integrate transactions made via Automated Teller Machines (ATM)
and Point of Sales (PoS), is estimated to cost four to five million dollars. After a month of technical evaluations, the Bank passed just a single
bidder the US-based, ACI Worldwide - on to the next round of three. The Bank invited international vendors directly to participate in the bid,
with three having responded to the call. These were the well-known SWITCH system vendors BPC Group, ACI Worldwide and Cisco Systems Inc.
The suppliers submitted their proposals in early May. PLEASE SEE THE FULL Story ON PAGE 8.
Operating Expense (2014/15)
Dashen (870.8M Br)
BoA (462.3M Br)
Nib (467.5M Br)
United (579M Br)
AIB (801M Br)
LIB (226.3M Br)
BIB (198.6M Br)
Fortune is a weekly business newspaper published and distributed by Independent News & Media Plc. Tel: 251-011 416 30 20. Fax: 251-11-416 30 39. P. O. Box: 259, Code 1110. www.addisfortune.com. Price: 8.00 Br, Djibouti 400 FD, Somaliland 3,000 SL.
Editorial
Content Matters
Established in May 2000.
Volume 17, Number 842

Sunday, Jun 19, 2016
Fortune is a weekly business
newspaper published and distributed
by Independent News & Media Plc.
Fortune is a registered newspaper
with the Ministry of Trade and Industry
under Licence Number 667/98.
Independent News & Media Plc is
registered by the Ministry of Trade
and Industry under Registration
Number
020/2/2349/97.
Managing Editor
Tamrat G. Giorgis
tamrat@addisfortune.com
Editor-in-chief
Samrawit Tassew
Samrawit@addisfortune.net
Woreda 08, House Number 897
Fortune
The Revolutionary Democrats are aware of the structural imbalance

in Ethiopias economy evidenced by its having the second largest
GDP in COMESA with the lowest share in GDP per capita. Their quest
for industrialisation, however, lacks the elements for streamlining
investment that redirect resources from poor performers to dynamic
firms. But the Revolutionary Democrats are clear about their aims to
boost manufacturing four-fold by 2020 with inputs of military capability.
This should not evoke fear but a focus on efficacy.
Agenda
Opinion
For a long time, Africa largely did without multiparty elections.

Except for Botswana, few nations allowed voters to elect those
who governed them. Several African leaders have overstayed
in power, to the point where they seem to hold office for life
but some 90 military coups have occurred in sub-Saharan
Africa since independence. The electoral process may still be
questioned but trends from 2011-2015 suggest that Africas
democratic glass may be half empty, but it is also half full.
Page
30
Page xx
22
Rent Price, Building Numbers

Go Symmetrically Up
Addis Abeba's constantly changing skyline gives testimony to the rapid growth of commercial
buildings, in which rents rise constantly. What contributes to these rents, how businesses that
operate in them are affected and the prices patrons shopping in these buildings pay, is what TESFA
MOGESSIE, FORTUNE STAFF WRITER, explores in this piece.
Deputy Editor-in-chief
Getachew T. Alemu
getachew@addisfortune.net
Woreda 04, House Number 1253
Copy Editor
Ijahnya Christian
copyeditor@addisfortune.net
Research Editor
Samson Berhane
samson.berhane@addisfortune.net
Reporter
Dawit Endeshaw
dawit@addisfortune.net
Nardos Yoseph
nardos.yoseph@addisfortune.net
Tesfa Mogessie
tesfa.mogessie@addisfortune.net
Photographer
Geremew Tigabu
geremew@addisfortune.net
Columnist
Girma Feyissa
girma@addisfortune.net
Cartoonist
Henok Demessie
henokbezawit@gmail.com
Creative arts Editor
Ashenafi Chekol
designer@addisfortune.net
Graphic Designers
Munaja Yasine
designer@addisfortune.net
Exclusive Advertising Agent
Commercial Information Agency Plc

advertfortune@gmail.com
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Tel: 251-11-416-3020
0911448026 / 0930012385 /
0911216259
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Street (Debre Zeit Road) Next to
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Email: addisfortune@hotmail.com
fortune@addisfortune.com
A 13 storey new mixed use building put up on Lacha area of Kirkos District had posted phone number on third floor wanted to be contacted by any one who
seeks rent for offices and shops.
Jemila Mohammed was busy packing

her items, mainly accessories and the
clothing of Muslim women, hijabs,
on her display shelves on the morning
of hours June 12, 2016. She, along
with other shopkeepers, was busy
setting up her display in an attractive
manner she thought would grab the
attention of her targets.
But for Jemila it is not an exciting day
as she is preparing to say goodbye
to her work place of the last three
years. What is pushing her out is the
unexpected increase in the rental
price six months ago. For her four
square metre store, she was asked to
Bank
At the Cooperative Bank

of Oromia (CBO), five
new vice presidents have
been assigned to replace
the existing two, who are
now on forced leave. This
overhaul came as the result
of a reform process kickstarted by the new President,
Deribe Asfaw, who was
formerly the vice president
at the Commercial Bank of
Ethiopia (CBE).
Page 6
pay 7,000 Br, double of what she had

paid for the past two and half years.
This is a non-starter for me, she
said. Everything remains constant
including competitors who are
operating in Arkebe suqs (a name
used to refer to streetside shops
made of corrugated metal sheets).
It was in one of these Arkebe suqs
that Jemila started her business in
the same vicinity of Merkato, Addis
Ketema District. Then she used
to pay 1,500 Br a month for rent.
However, three years earlier, she and
her close to 100 fellow shop owners,
were informed by District authorities
Power
The Ethiopian Electric Power
Utility (EEP) and Dongfang
Electric Corporation Limited
(DECL), a Chinese electric
company, have signed an
agreement to develop a
wind farm in the Aisha area
of the Somali region. The
farm will be located 20km
from Djibouti's border with
Ethiopia at a total cost of
257 million dollars.
Page
Page99
that the shops would be demolished

as they were not part of the Master
Plan's designated purpose. That area
was designated for buildings with a
minimum of a seven stories.
The future is for multi-purpose
buildings, Jemila assumed and
decided to move into one of the big
buildings - the Yirga Haile complex,
rather close to the main road in the
same area, Merkato. She took that as
a leap to her business and therefore
decided to pay the big jump in rent,
which was more than double at the
time.
The business survived but did not
Finance
A bill proposing the financial
punishment and demotion
of the heads of public
institutions that fail to follow
financial administration laws
was tabled in Parliament on
June 14, 2016. The new
proposal includes provisions
for penalties to be exacted on
heads of public institutions
associated with serious
gaps between their budget
allocation and audited
expenditure.
Page 12
thrive as her competitors that still

operated in the Arkebe suqs, which,
in that area, are still waiting to be
demolished.
What she could afford in the building,
was 3,500 Br for her small shop
on the third floor. At any lower
level, the rent hiked accordingly.
The third floor had its own costs.
Though the elevator service was
what held hope of bringing buyers
without inconvenience, it was not
fully functional.
There are times that passed without
a single buyer coming up on the floor,
as there were days where the area was
VIEWPOINT
The outcome of this weeks
referendum on Britains
leaving or staying in the
EU is likely to have global
economic reverberations.
The demographic profile
of those who say leave
resembles that of those
rooting for Trump across
the Atlantic and will signal
the dire influence of
populist upsurges if they
win.
Page
Page 19
xx
VIEW FROM ARADA

Youth are no longer a
valued asset but a costly
liability vulnerable to misuse
of technology, violence,
drugs, human trafficking,
unemployment, myriad
social ills and political
manipulation. Like the
scramble for Africa and the
scramble for land, negative
influences like these can be
referred to as the scramble
for youth.
Page 27
Fo rt u n e Vo l . 17 No. 842 J u n . 19, 2016
P ag e 3
THE NUMBERS
48.78
0.06%
The old building put a display on the gate that says there are vacant space for
offices.
A d v e r t i s e m e n t s
Ethiopian Birr/US $
22.1365
without power, she said.

For management to provide a
generator service that could carry
the load of having all the elevators
running was out of question.
It was not the bumpy road that
pushed her to leave the building, but
the price increase.
She, along with four other renters,
has given the building manager
notice to terminate their contracts
within one month.
Building managers are not really
concerned by tenants who decide
to terminate their contracts as there
are thousands of Arkebe suqs that
are being demolished or whose
operators have already been given
notice.
It was a few months ago that the Addis
Abeba City Administration made its
policy to do away with these kinds
of shops and transform the business
owners into middle level small and
microfinance groups.
Some demolition has taken place
in several districts, mainly in Arada
and Yeka. It is these businesses and
others that can afford higher rents
that the building managers anticipate
will come soon.
And there are some others, like
Semira Yusuf, a tenant on the ground
floor of Yirga Haile, that can fend off
the turmoil.
Semira used to pay double of what
Oil US $/bbl
Jemila pays on the third floor. Her

retail item was the mobile phone
apparatuses, which required more
capital for start-up and which saw
better daily transactions.
Space above the fourth floor is all
quiet, with no shops, but offices. The
rent too, is relatively lower, ranging
from 1,500 Br to 2,500 Br per square
metre.
Unlike owners of the third-floor
shops, Semira never misses a
day without selling her pieces of
apparatus.
With close to a 10,000 Br sales daily,
she makes 12,500 Br -25,000 Br
gross profit a month. A good half of
her average income, though, goes to
the landlord.
Despite the huge rent price, moving
out of this building and away from
this area would be a high risk to
the business, she argues. This
is the niche market for the mobile
apparatus in town.
She refers not only to retail sales
but a close circuit of wholesalers,
maintenance shops and illegal
imports too.
With regard to occupancy, of the
whole ground floor, close to 20
shops sell mobile apparatuses and
accessories.
Experts agree on the concept of
niche market a smaller curve in a
bigger market space where a specific
product is focused. It defines the
3.42
0.5%
Coffee (Arabica) $/kg
0.17%
product features aimed at satisfying

specific market needs, as well as the
price range, production and quality.
It is right to follow the assumption
that buyers prefer the convenience
of finding wider options of the item
that they are looking for, in hope
of benefiting from the competition
between many sellers on the same
corner, said Alazar Ahmed, a private
marketing consultant, with over a
decade experience in teaching and
practice of market studies in the city.
Studies indicate that there is
a danger in such thinking. Once
there is a niche there is the danger
of a saturated market, leading to
increased competition that ends up
reducing the slice of pie available to
each competitor.
When such a phenomenon takes
place it evolves into other spots ,
undiscovered spots in still profitable
locations.
The scientific deduction explains
the mushrooming of commercial
buildings African Avenue in Bole
District.
This is the new spot, a major
competing alternative, particularly
for the well to do society, the owner
of one of the big multi-purpose
complexes told Fortune.
It is one of the areas where the
dominant assumption is that it is
P ag e 4
A D V E R T I S E M E N T S
C o n t i n u a t i o n
World Bank Loan . . .

The latest loan is interestfree and has a repayment
period of 32 years, while the
period for implementing the
projects is five years.
This year is a very big year
for our partnership with
Ethiopia, said Carolyn Turk.
Of the 829 million dollars,
the largest share, 300 million
dollars, has been allocated to
improvement of the transport
system, with the aim of
ameliorating those vexing
traffic jams in Addis Abeba.
This [road system
development] is among the
few projects we all hope to
benefit from because it will
help to ease traffic congestion
and develop a modern public
transport system, Turk said.
We hope the high number
of traffic accidents will be
minimised, she added.
In this first urban transport
initiative of the World Bank in
the country, the main activities
to be executed, according to
her, include expansion of
the existing traffic signal
and control systems in Addis
Ababa, creation of better
environments for pedestrians
and modernisation of the
operations of Anbessa City
Bus Enterprise. Capacity
building of urban transport
agencies is also among them.
Road safety remains a major

challenge in Ethiopia with
some 64 people per 10,000
vehicles, dying annually on
highways, making Ethiopia
the worst country in Africa.
It also indicated that 65pc of
the roads in Addis Abeba lack
sidewalks.
We are really pleased that
we met a target of processing
these five projects, said
Abdulaziz.
The road system

improvement in
urban areas is
taking 300 million
dollars - the largest
share of the 829
million dollar loan.
A d v e r t i s e m e n t s
(Cont'd from PAGE 1)
Besides ensuring road safety

in urban areas, he said that
modernisation of the roads
will increase productivity by
reducing the population's
travel cost and time.
Earlier this year, the country
also signed a 933 million
dollar loan with the WB for
three development projects,
also to be implemented in
five years.
These three projects are
300 million dollar urban
safety net programme to
benefit 600,000 urban
residents, a 600 million
dollar shared prosperity
project where wereda level
administration to improve
social services and a 33
million dollar project to
improve the management of
public finances.
On average, the Bank's
commitment has increased
by 17pc annually amounting
to about 1.3 billion dollars
over the last five years.
Ethiopian is the recipent of
the largest WB loan which
is four-fold the sum of 405
million dollars neighbouring
Kenya secured this year.
A Highway Project and the
assistance Development Bank
were the first two projects the
Bank approved loans for in
the country in 1950.
P ag e 5
A fresh border clash erupted between Ethiopia and Eritrea resulting

from what the Ethiopian government described as the Eritrean regime's
provocative actions. The clash that took place two weeks ago witnessed
deaths and casualties on both sides in a shoot-out at Tsorena, a border area.
Ethiopia's losses were lower than those of Eritrea, Head of Government
Communication Affairs, Getachew Reda, announced at a recent media
conference. However, he dodged the question on the exact number of lives
lost and injured combatants on the Ethiopian side, downplaying the citing
of a figure as pointless". Ethiopian forces retreated to their base after
crushing the Eritrean forces, he said.
"We let the Eritrean regime decide. If it will continue to provoke us, we will crush it again,
Getachew declared.
He also accused the Eritrean regime of destabilising the Horn of Africa region including Ethiopia
by supporting the outlawed al-Shabaab, which had attacked the Ethiopian military base in Somalia.
Read Less: Know More
Ethiopian Troops Home after Border Clash with Eritrea
Ongoing Drought Keeps Food Reserve under Threat

The Government of Ethiopia has supplied 627,000 metric tons (MT) of food aid
to affected areas since the outbreak of the current drought and 222,000MT
of food aid in the second phase of relief response.
People in Oromia, Amhara, Southern Nations and Nationalities, Afar, Beshangul
Gumuz and Gambella regions have benefited from the food aid, according to
official sources.
For the next phase, the government aims to supply close to 500,000MT of
food aid.
Currently, the countrys food reserve amounts to 451,000MT, which the
government is planning to increase to 1.5 million tonnes.
Over the past decade, despite the country's registered average gross domestic
product (GDP) growth of 10.8pc, which is significantly high compared to the
regional average of five per cent, the drought has left 10.2 million of the
countrys 92 million people in need of food aid.
NE W S
P ag e -6
Fortune
Vo l . 17 No. 842
J u n e . 19, 2016
Brexits Impact . . .
he febrile behavior of financial markets

ahead of the United Kingdoms
referendum on June 23 on whether to
remain in the European Union
Page 19
Five New Vice Presidents as

CBO Receives Face Lift
The new staff members are part of a reform driven by the bank's new President
By DAWIT ENDESHAW
At the Cooperative Bank of Oromia
(CBO), five new vice presidents have
been assigned to replace the existing
two, who are now on forced leave.
This overhaul came as the result of
a reform process kick-started by the
new President, Deribe Asfaw, who
was formerly the Vice President at
the Commercial Bank of Ethiopia
(CBE).
Insiders to the bank are divided in
their opinion of the reforms.
The change is not really context
oriented, an employee in middle
management told Fortune. Its
simply a copycat of the CBE.
After the reshuffle, the five vice
presidents appointed are new faces
at the institution - mainly coming
from the CBE. The cover a variety
of departments, including human
resource & facility management,
finance & trade service, credit
management and operations
management.
There are also now two additional
chief officers, for internal audit and
risk compliance.
The CBO, as it stands now with
five vice presidents, sits next to the
CBE, the model it followed, which
has eight vice presidents to run the
biggest commercial bank in the
country.
Deribe and the Board seem
determined not only to emulate the
CBE, but also to fix the distorted image
of the CBO, which was damaged by
the suspension of its top officials
and board chair. The domino effect
of this maladministration of finance
and Forex has continued to affect
the performance, credibility and
In a nutshell
The Bank has introduced five
new vice president positions.
Three of these new staff
members have come from the CBE
This has seen the removal of the
existing two vice presidents
The Bank has restructured its
branches across eight districts.
All of this is part of reforms
driven by the bank's new President.
Deribe Asfaw, President of CBO.
competitiveness of the Bank. A

case in point was the rejection of its
annual report by the Central Bank.
At this point, after negotiating and
revising the report accordingly, the
new President set in motion a huge
housecleaning and repositioning
project.
"We have discovered that the former
structure of the Bank was not
responsive to the strategy the Bank
has, Deribe told Fortune.
In this respect, the Bank has brought
in Aman Semir, from Debub Global
Bank, to help establish a new
Information System, alongside
Ahmed Hassen for finance &
trade and Dessalgne Tadesse for
operations management, both from
CBE's district offices, in Adama and
Dire Dawa, respectively. Cooperative
has already secured an endorsement

from the national bank for Aman
and Ahmed, and is now awaiting
the third.
In the remaining posts, the right
candidate is yet to be found. The
posts are ats director level.
Applicants first need to fulfil the
criteria set out in the National Bank
of Ethiopia (NBE) directive, which
states that one has to have eight
years of experience in banking,
with half that time in a managerial
position.
In doing this, the Bank has demoted
the acting vice presidents, in a move
that came shortly after the suspension
of the former executives. Back then,
the bank had selected Muluneh
Disassa as Acting President, and
Fiyera Ejeta and Gezaw Hailu, as
Acting Vice Presidents, for Resources

& Service Management and Core
Services Management, respectively.
"We found them incompetent to the
post," said Deribe.
In conducting this recruitment and
reform, the bank has first developed
its own charter and then assessed
its staff members. The Bank has
so far reviewed the profiles of 236
of its workers. These employees
were tested on their integrity,
professionalism and commitment.
Out of these, the Bank suspended
22 branch managers and dozens of
executives who had been working at
the head office. In 2015, the Bank
reported the number of staff to be
close to 2,000.
Unlike most of the private banks, the
CBO has also adopted CBE's format

of branch structure and operations.
The Bank has restructured its
branches in districts and, in this
respect, now reaches seven districts
with an average of 20 branches in
each.
The rationale behind all these
reforms is to reclaim the trust
among our customers and revamp
our performance, explained
Deribe.
A manager still working at the Bank,
however, describes the whole reform
process as being very secretive and
devoid of consultation with existing
employees
"We have no idea of the criteria
used to promote or suspend the
managers," the manager told
Fortune.
He also shared his reservation on the
change in structure, the introduction
of districts and adding the number
of vice presidents, claiming that
it was not made with a contextual
understanding of the Bank.
Deribe defended this stance, stating
that his reform has considered the
Bank's comparative advantage.
"In terms of non-financial activities,
we believe we went the extra mile,"
said Deribe.
He did admit, however, that the
Bank failed to meet its plan in terms
of financial operations, border to
border transactions and expected
income from export trade. The CBO
is the only bank where 56pc of its
share is owned by cooperatives.
Audit reports of 2014/15 reflected
a reduced profit after tax down
from 344 million Br to 312 million
Br -and earnings per share (EPS)
down from 61 Br to 40 Br.
P ag e 7
P ag e 8
N E W S
Half Billion Dollar Tobacco . . .

and signature of the contract will
result in forfeiture of the bid bond.
It further indicates that failure to
meet a deadline might actually lead
to the award being transferred to the
second runner up.
On May 19, JTI had offered a record
high price for privatisation of the
state-owned NTE, offering a little
over half a billion dollars for its share
of the tobacco monopoly. The second
offer was lower by almost half.
British American Tobacco (BAT),
following the Japanese state-owned
tobacco corporation, had offered
230 million dollars.
The bid for 40pc ownership of the
Tobacco Enterprise had attracted
huge international companies,
including the American giant Philip
Morris International (PMI).
Despite the stiff competition
anticipated among the contenders,
the price offers showed huge gaps,
with PMI actually offering the lowest
price of 120 million dollars, a little
over the minimum valuation estimate.
The landslide win of JTI is now in
a foggy stage, having moved back
into dialogue with demands for
clarification.
Such steps, which are part of the
due diligence process are clearly
indicated in the initial bid document
as processes that should take place
before the companies submit offers.
The bid document clearly stipulates
that any company that fails to do its
due diligence and value estimation

should put this forward as a factor
for non-compliance with contractual
offers by the Ministry.
The inability of the Ministry to decide
on the award or probably look at the
second bidder is due to the size of
the offer made by JTI, a consultant
and former employee of what is
now a ministry, who has three years'
experience as a member of tendering
committee told Fortune.
"It seems like they don't want to lose
them," he said.
A far cry from JTI's offer, an
individual bidder from Niger, Irro
Ado, offered 35.1 million dollars
for 10pc of the share.

It was after this individual bidder that
Philip Morris, through Pan African
Entrepreneurs Limited, offered a
quarter of the price offered by JTI.
It is now exactly one month since the
financial opening was made. Any of
the contenders to be awarded will
get its hands on the Enterprise that
registered 400 million Br profit last
year. National Tobacco Enterprise
was first put up for privatisation in
1999. At that time, a 22pc share of the
company was transferred to Sheba
Investment Group for 35 million
dollars. This company owns 29pc of
the shares with the remaining 31pc
The inability of the

Ministry to decide on
the award or probably
look at the second bidder
is due to the size of the
offer made by JTI...
Ethiopian Shipping Lines . . .

Deres Abebe, who represented
himself as CEO of the fake Welka
Plc, whom the charge identified as
the mastermind of the crime, was
a former employee of the ESLSE.
He and two accomplices including his
sister Woineshet Abebe, who is still
on the run, opened a current account
at Berhanena Selam Branch, which
later was found to have deposits of
19 million Br transferred from the
Enterprise's account.
Material forgery of official or
public organisation's documents
is the crime cited against the
three individuals Deres Abebe,

Hailemariam Begi and Wonishet
Abebe. If found guilty the
suspects might face rigorous life
imprisonment.
Upon transfer of the 19 million to
the Welka account, the money was
moved out by the three suspects
within two weeks time.
The Commission following this opened
a case on four mid-level managers of
the Bank from the two branches. They
are Abdurhaman Ahmed, and Roman
Shileshi, customer service managers at
Finfine Branch and Gezahegne Adgeh
A d v e r t i s e m e n t
owned by the Ethiopian government.

The Ministry has declined to give
any comment on the evolving issue,
except to confirm that the transfer is
still in process.
JTI, a subsidiary of Japan Tobacco Inc.
was established in 1999. The parent
company acquired the non-American
operations of the multinational R. J.
Reynolds for 7.8 billion dollars. Its
total shipment volume in the first
quarter of 2016 grew to 94.4 billion
cigarette equivalent units and its
revenues amounted to 2.46 billion
dollars, 4.2pc higher than the same
period last year.
For JIT, which is known for its brands
such as Winston, Camel, and Benson
& Hedges, its potential acquisition in
Ethiopia will be its first expansion.
and Dawit Tsegaye, customer service

manager and senior controller at
the Berhanena Selam Branch face
charges.
Th e A r t i c l e o f t h e C r i m i n a l
Code which refers these acts as
maladministration of government
or public enterprise work, which if
found guilty, could imply rigorous
imprisonment of seven to 15 years
each depending on the gravity of
their responsibilities.
It is the responsibility laid down in
the Banks operational manual to
ensure the authenticity of documents
from the designated office that the

Bank's officers were said to have
bypassed, leading to the loss of the
Enterprise's money.
The recently revised Anticorruption Law lays the burden of
proof on the suspects, assuming
any actions or omission by
suspects, are acts intended to
harm the interest of parties.
The Commission also applied for
a confiscation of property order
and 20 million Br in cash, vehicles
and electronic items to be held as
exhibits for the case.
CBE Switching Systems in

Bid for World Class Status
The switch system, which is currently under procurement, is expected
to cost the CBE between four to five million dollars
Recruitment of National Consultant on Common Procurement

Support Consultant
(open for Ethiopian Nationals)
Procurement Notice Ref. No.: ETH/IC/2016/033
(Under the overall leadership and guidance of the United Nations Country
Team (UNCT), the Operations Management Team (OMT) seeks the services
of a reputable National Consultant with a proven track record of relevant
experience to do an assignment as a Common Procurement Support
consultant. In this public procurement notice, all competent individuals who
satisfy the minimum requirements stated in the ToR are hereby kindly invited
to submit proposals.
Qualified Individuals are expected to submit updated CV, Technical and
Financial Proposals on or before 30th June 2016 at 5:30pm (UTC+03:00) Addis
Ababa/Nairobi Time Zone by CoB.
Interested individuals for the captioned service can also download the full
Terms of Reference (TOR) and Procuments Notice from the following UNDP
Procurement Notices link below:
http://procurement-notices.undp.org/view_notice.cfm?notice_id=30124
Your proposal must be expressed in English and shall be valid for a minimum
period of 120 days. It shall remain your responsibility to ensure that your
proposal reaches the address above on or before the deadline. Proposals
that are received after the deadline shall not be considered for evaluation.
n a bid to transform the existing

seven-year-old SWITCH system,
the Commercial Bank of
Ethiopia is close to finalising a
procurement process that has been
taking place since May 2016. The
SWITCH system, which will integrate
transactions made via Automated
Teller Machines (ATM) and Point
of Sales (PoS), is estimated to cost
four to five million dollars.
After a month of technical
evaluations, the Bank passed just
a single bidder the US-based, ACI
Worldwide - on to the next round
of three.
The Bank invited international
vendors directly to participate in the
bid, with three having responded to
the call. These were the well-known
SWITCH system vendors BPC Group,
ACI Worldwide and Cisco Systems
Inc. The suppliers submitted their
proposals in early May.
For CBE, this purchase is a part of
its plan to attain world class status
by 2020. It will replace the old
system. which was installed by the
international M2M Group and its
then local agent Moti Engineering
Plc. Back then, the intention and
initial design intended the SWITCH
system to integrate 50 ATMs, 250
PoS and 50,000 cards.
"These figures were very
conservative," said a source involved
in the process.
In the following years, the Bank
By DAWIT ENDESHAW
made an aggressive expansion in
terms of its reach via these tools.
The two parties delivered a Magix
SWITCH system at a total cost
of 900,000 dollars, including its
implementation and licences.
For this bid, Moti has partnered
with Cisco - the same company that
did Wegagen Banks e-transaction
solution. Based in California, US
Cisco was established back in 1984.
The multibillion dollar company
reported a revenue of 49.1 billion
dollars in 2015.
BPC, a company from Switzerland,
who entered the field in 1995,
has joined a local IT vendor, SS
Communication Plc. This company
is the IT firm behind the national
SWITCH system, which was launched
recently to integrate the electronic
transactions of banks.
The oldest of all, ACI, with four
decades of experience, bagged 865
million dollars in revenue back in
2013. ACI is yet to bring in its own
local partner.
The bid, which started with technical
evaluations, has dedicated 65 points
to a list of complaint points. The
technical evaluation is also divided
among technical and non-technical
points. Non-technical points include
issues such as staff strength and
company profile, as well as the total
number of implementation sites.

These points carried a total of 28
points, while the rest went to other
components of the competition.
With regards to implementation
sites, the bid specifically put 300 as a
minimum standard. A company that
has fulfilled this number gets five
points and less than this gets zero.
In this respect, some of the
participants, whose names have
been withheld upon request, told
Fortune that the requirements look
as though they were intentionally
made to favour one bidder.
Out of the 65 points, only a
successful bidder to achieve 60 and
above would pass to the next stage.
Fortunately for ACI, it become the
only bidder to do so, with 60.92
points, and passed to the next step
alone. This will grant the company
the freedom to give its financial
offers without any competition. The
other two bidding companies, BPC
and CISCO, were awarded 54 and
56.9 points, respectively.
Following the announcement, a
source told Fortune that some of the
bidders had already appealed to the
Bank on irregularities they claimed
happened during the evaluation.
This new SWITCH system will be
designed to accommodate 3,000
ATMs, 30,000 PoS and 10 million
cards. Currently, the Bank deploys
1,027 ATMs and 4,458 PoS.
N E W S
P ag e 9
EEP Commissions Chinese Company to Develop Wind Farm

Wind power has a large presence in the nation's second Growth & Transformation Plan
By TESFA MOGESSIE
The Ethiopian Electric Power Utility
(EEP) and Dongfang Electric Corporation
Limited (DECL), a Chinese electric
company, have signed an agreement to
develop a wind farm in the Aisha area
of the Somali Region. The farm will be
located 20km from Djibouti's border
with Ethiopia at a total cost of 257 million
dollars.
The country has a long term plan to
be east Africas leading producer of
renewable energy, with wind farms
as a significant contributor. In the
second Growth and Transformation
Plan (GTPII), the government outlines
the construction of nine wind projects
at a total cost of 3.1 billion dollars and
a target energy generation of 499,000
megawatts.
Ethiopia has three million megawatts
of wind energy resource, of which 1.3
million megawatts is exploitable. Out
of the total 9.5 million megawatts of
electric power generated in 2014/15,
wind energy constituted just 0.1pc.
According to the EEP, the total electric
energy generated from wind resources
increased to 497,700mw in 2014/15
from 355,800mw in the previous year.
"The project is scheduled to be finalised
in 18 months," said Misikir Negasha,
EEPs public relations head.
He added that the project has 80 turbines,
which each have the capacity to generate
1.5 mw.
"Two years ago, a feasibility study of the
project was conducted," he said. "Hopes
are high that the company can complete
the project on time.

According to him, the project is part of
the second Growth and Transformation
Plan of the energy sector, during which
the country wants to attain 10,000mw at
its national grid. He said that 85pc of the
project fund is secured from the Chinese
EXIM bank and the remaining 15pc is
covered by the government.
Well aware of the untapped potential
of exploitable wind energy sources, the

government has spotted and implemented
different wind power projects across the
country.
DECL, founded in 1984, is a leading
Chinese company specialising in power
equipment manufacturing and worldwide
power projects including thermal,
hydro, nuclear, wind, gas turbines and
combined cycle power plants. It has an
annual production capacity of 35,000mw.

The company worked on the Gilgel Gibe
III hydro-power project in 2010.
During 2014/15, the Adama II wind farm
started operations with a generating
capacity of 153mw. An additional 51mw
comes from the Adam I project and
120mw from Ashegoda in Meqelle.
Combined, these have taken the countrys
wind power capacity to 324mw.
At the end of the second GTP, in 2020, the

government plans to increase the energy
generation capacity to 15,000mw and to
expand the county's electricity coverage
from its current 55pc to 99pc. By the
same year, the country aspires to become
carbon resilient and have zero carbon
emissions. This will be achieved by
exploiting renewable energy resources,
including wind power.
Seifu Fantahun's Trial Shuttle

The

Bench grants the radio host bail after passing a guilty verdict the day before
By DAWIT ENDESHAW
The decision to grant Seifu Fantahu, a radio
and TV talk shows host, bail right of 50,000
Br came on June 15, 2016, after the same
Bench of the Menagesha First Instance
Court passed a guilty verdict.The suspect,
Seifu, had pleaded guilty in the court of law
a day earlier, on June 14, 2016.
Seifu appeared in court on King George VI
Street, without any legal adviser or a lawyer.
The Court had passed a verdict on Seifu as
guilty of contempt of court. The Judge, Tsion
Fanthaun, as per the procedure asked both
the defendant and the prosecutor to give
their opinions on potential punishment.
The crime consisted of acts like insulting,
ridiculing threatening or disturbing the
Court or a judge in the discharge of his
duty or activities of the court. The Penal
Code prescribes simple imprisonment not
exceeding one year, or a fine not exceeding
three thousand birr.

The Court that was adjourned until
Wednesday was waiting to hear the
decision on the penalty, based on the
legal prescription as well as on opinions
forwarded by the two parties.
Seifu as a factor to lessen the penalty
mentioned that he is the breadwinner of
a family - his wife, a child and an elderly
mother who are dependent on him. He
therefore requested that the Bench not
sentence him to any form of prison.
The June 14 hearing however, saw
something unusual, reversing the whole
process, admission of guilt and verdict as
well as opinion of parties on penalty, taking
the matter back to square one.
On Wednesday 15th, Seifu did not appear
in court but was represented by a lawyer
who asked the Court to be given a chance
to plead anew - this time, not guilty.
The charge was delivered to the suspect
Seifu Fantahu.
two months ago. It was was initiated by
the application of Atinkut Mulugeta and
brought by the public prosecutor
This is the person who is in a court battle
over copyright issues with Tewodros
Teshome. Seifu was said to comment on
this pending case in a manner that would
affect the court hearing. The case is now
pending at the Supreme Court, after an
appeal was made by Atinkut over a High

Court decision that favoured Tewodros.
The talk show that touched upon this case
was aired on Sheger 102.1 radio stationon the daily programme "Tadiyas Addis"
earlier in February. Seifu was dragged into
this court action in his capacity as CEO of
Tadiyas Addis Entertainment.
The right of a suspect to change his word
of admission is legal, said a senior legal
attorney, but that happens much earlier
in the process.
Suspects usually change their word of
admission that they give to police the first
time they appear in court, pleading not
guilty, which is acceptable by law.
"It is really unusual," the expert told
Fortune.
The Court, after granting him bail, has
adjourned the case until July 12, 2016.
The court will then retrace its steps and will
begin to hear witness testimony.
P ag e 10
ETHIOPIAN AGRICULTURAL COMMODITIES

WAREHOUSING SERVICES ENTERPRISE (EACWSE)
VACANCY ANNOUNCEMENT
No.20/2016 (Internal/External)
Ethiopian Agricultural Commodities Warehousing Services Enterprise (EACWSE),
established through the Council of Ministers Regulation No. 331/2014. EACWSE is
mandated to separately and independently handle warehousing services of agricultural
commodities as an offspring of the current Ethiopia Commodity Exchange. EACWSE has
the objective of providing innovative warehouse management service to customers
and stakeholders through the application of best practices and available technologies.
EACWSE with its recruitment partner, Ethiocv.com, is currently recruiting eight
senior management staff. We are looking for highly self-motivated go-getters!! In
the following positions:
Open Positions
1. CHIEF WAREHOUSE OPERATIONS OFFICER
THE ROLE
With duty station in Addis Ababa-Head office and reporting to the Deputy
CEO-Operations, the Chief Warehouse Operations Officer of EACWSE is mainly
responsible for:
Day to day operational management of the Warehouse inventory management at
remote site warehouses and the Central depository functions of the Enterprise;
Managing in an integrated fashion the Central Depository of Electronic
Warehouse Receipts and transfer of warehouse receipts at settlement through
the Enterprise. In this regard he/she is responsible for interface with warehouses
and for designing and maintaining efficient, secure, and accurate operations for
recording the Goods Received Notes, managing receipts accounting, and transfer
of title, as well as issuing Delivery Notices and transmitting Pick-Up Notices;
Designing, implementing, and maintaining adherence to operations manuals
and for managing core staff in the various operational units;
Working in parallel with the Quality Operations, Communications and Client
relations and IT divisions to ensure the seamless integration of the entire endto-end operations of the Enterprise.
REQUIRED QUALIFICATION AND EXPERIENCE
MBA/MSc in Business Administration, Business Management, Finance and
Accounting, Economics, Agricultural/Plant/Crop science or related field.
Over 10 years related work experience for MBA in the areas of Warehouse
Operations Management, of which at least five years at leadership positions.
Strong leadership skills, strategic and forward thinker.
Good grasp of Financial Management skills.
Excellent interpersonal and communication skills with ability to present
information clearly and persuasively.
Proven analytical, problem solving and decision making abilities with ability to
make decisions in sometimes ambiguous circumstances and tailoring procedures
to different situations and issues.
Ability to work and deliver assignments under stressful working situations.
Strong team building and development skills with ability to work effectively work.
2. CHIEF QUALITY OPERATIONS OFFICER
THE ROLE
With duty station in Addis Ababa-Head office and reporting to Deputy CEO-Operations,
the Chief Quality Operations Officer of EACWSE is mainly responsible for:
Day to day operational management of the Warehouse Operations quality
control at remote site warehouses;
Designing, implementing, and maintaining adherence to operations manuals
and for managing core staff in the various operational units with respect of
quality operations;
Working in parallel with the Warehouse Operations and IT divisions to ensure
the seamless integration of the entire end-to-end operations of the Enterprise.
MSc in Agricultural Science, Plant Science, Horticulture/Crop Science or related
fields and relevant certification.
Over 10 years related work experience in the areas of Quality Operations
Management, of which at least five years at leadership positions.
Strong knowledge on quality management system;
Have knowledge of national and international standards and specification on
coffee and agricultural commodities;
Completed special training and knowledge on coffee cupping, quality control/
inspection if for coffee;
Knowledge on agricultural commodity quality management system, standards
and specification;
Excellent leadership, planning, time management & prioritising, organisation
and decision making skills;
Ability to motivate staff and build teams;
Excellent communication skills: presentation skill, interpersonal skill, people

skill, ability to interact with diverse people;
3. CHIEF INFRASTRUCTURE & FACILITY OFFICER
THE ROLE
With duty station in Addis Ababa-Head office and reporting to Deputy CEO-Operations,
the Chief Infrastructure & Facility Officer of EACWSE is mainly responsible for:
Providing leadership to the Enterprises warehouse Infrastructure development,
maintenance and management, procurement and general services of the
Enterprise;
Providing strategic leadership to the construction of modern and technology
based commodity warehouses;
Building the Enterprises institutional capacity on warehouse construction,
maintenance and management;
Ensuring that construction works are executed in strict conformity with the
contract documents and drawings and monitor and control the implementation
of projects in progress;
Ensuring the timely repair and maintenance of Office Equipment of the Exchange;
Ensuring that the principle of procuring the right goods/services with the right
price from the right place at the right time is implemented for all procurements
in line with the Enterprise's Procurement Policy and Procedure; and
Ensuring the cleanliness, safeguarding of property and security of the office.
MSc/MA in Civil Engineering, Construction Technology or related field.
Over 10 years' related work experience in the areas of Quality Operations
Management, of which at least five years at leadership positions.
Knowledge on how to administer and ensure compliance with construction and
maintenance policies and procedures;
Knowledge of infrastructure management systems;
Solid understanding on construction concepts, current practices and the Labour
Law;
Has experience and knowledge of facility construction methods and activities,
review/interpret engineering drawings, specifications and other design
documents; understand project design basis and contractual requirements,
develop construction specifications, scope of work, estimates and prepare
construction work packages, write daily, weekly monthly and other construction
reports on timely manner
Knowledge of project management software, Engineering Aid Computer
Software skills a must like
Strong and effective communicator, both verbally and written, who can interface
cooperatively with various departments of the organisation, as well local labour
and subcontractors.
Excellent presentation and negotiation skills
An overall action orientation and strong problem solving abilities.
Excellent leadership, planning, time management & prioritising, organisation
and decision making skills;
Willing to frequently travel to branch warehouses.
Ability to motivate staff and build teams;
Excellent communication skills: presentation skill, interpersonal skill, people
skill, ability to interact with diverse people;
4. CHIEF STRATEGY OFFICER
THE ROLE
With duty station in Addis Ababa-Head office and reporting to the CEO, the Chief
Strategy Officer of EACWSE is mainly responsible for:
Business strategy and corporate planning, for new business development and
marketing, reform & change management, restructuring or re-alignment;
Capital injections, and strategic alliances;
Designing, implementing, and managing the business architecture of the
Enterprise, for identifying strategic core competencies, and for ensuring the
match between competencies and resources;
Ongoing economic analysis of the relationship with and impact of the Enterprise
on domestic and global markets, on actors and specific groups of actors such as
farmers, and on economic trends; and
Assuring that all operational units and business strategy, planning, research,
reform & change management and business development are in line and moving
forward in a common direction.
MBA/MSc/MA in Business Administration, Economics or related field.
Over 10 years' related work experience in the areas of Strategy development and
management and reform & change management, of which at least five years at
leadership positions.
Have knowledge of strategic planning, reform and change management systems
and tools.
Proven analytical, problem solving and decision making abilities with capacity
to make indistinct decisions and tailoring procedures to different situations and
issues.
Strong team building and development skills with ability to work effectively,
collaboratively, demonstrating commitment to achieve group objectives.
5. CHIEF IT OFFICER
THE ROLE
With duty station in Addis Ababa-Head office and reporting to Deputy CEO-Support
Services, the Chief IT Officer of EACWSE is mainly responsible for:
Providing vision and leadership for developing and implementing information
technology initiatives and for directing the planning and implementation of IT
systems in support of Enterprise operations;
Creating and refining a technology strategy for the Enterprise based on an indepth understanding of the business processes and information flows in a way
that ensures that the business strategy and IT investments are aligned;
Managing the efficient and streamlined identification of IT needs and the
procurement of hardware and software in line with the needs;
Matching business needs with upgrades and in-house systems development or
customization of off-the-shelf technologies;
Managing the data depository and on and off-site storage and retrieval systems,
for the deployment of backup systems, and for maintaining the security of the
Data Centre;
Systems Architecture of the entire automation of the Business operations
(including warehouse operations and central depository), as well as systems for
Corporate Services (Human Resources, and Finance and Accounting), as well as
clients management and Badge identification and security;
Network architecture, network administration, remote site integration, and
redundancy in systems communications; and
On-site and off-site IT technical support of operations as well as data security.
MSc/BSc in Computer Science, Software engineering, Electrical, Electronics,
Information Systems or related fields.
Over 10 years' related work experience for MSc and 12 years of related work
experience for BSc in the areas of developing and implementing IT initiatives in
support of business operations, of which at least five years at leadership positions.
Have knowledge of latest software development, database management, IT
infrastructure development and management and support systems.
issues.
6. CHIEF FINANCE OFFICER
THE ROLE
With duty station in Addis Ababa-Head office and reporting to Deputy CEO-Support
Services, the Chief Finance Officer of EACWSE is mainly responsible for:
Providing strategic leadership on the Corporate Services of the Enterprise in the
areas of Finance, Budget and property administration;
Ensuring financial health and integrity of the company and compliance of the
Enterprise financial policies and practices with relevant laws, standards, and
regulations of the Country and International Financial Management practices;
Leading the preparation and consolidation of budget, disbursement/transfer
of funds, budget variance tracking report and analysis as per the Enterprises
policies and procedures;
Developing and maintaining internal control system to safeguard the Enterprises
assets; and
Preparation of quarterly report to Board of Directors and to the Enterprise
Authority.
MA or ACCA/MBA in Finance and Accounting or Business Management.
Certification in Financial Management or ACCA or CIMA.
10 years' related work experience in the areas of Financial Management, of which
at least five years at leadership positions.
Good grasp of business management and excellent accounting and financial
management skills.
Excellent interpersonal and communication skills.
Proven analytical, problem solving and decision making abilities.
7. CHIEF LEGAL SERVICE OFFICER
P ag e 11
THE ROLE
With duty station in Addis Ababa-Head office and reporting to Deputy CEO-Corporate
Services, the Chief Legal Services Officer of EACWSE is mainly responsible for:
Internal rules formulation and implementation of regulations according to the
self-regulating functions of the Enterprise entrusted to it by the Enterprise
Authority;
Monitoring compliance to rules at all levels of the Enterprise, such as rules
governing the Enterprise itself, the clients, Warehousing and Delivery, financial
audit and accounting and other rules;
Investigations and disciplinary action;
Required to exercise judgment and professionalism in determining needed
disciplinary actions by the Enterprise or in making recommendations to the
Enterprise Authority;
Designing and managing the operations of the Enterprise Arbitration Tribunal,
in the settlement of the commercial disputes between clients, and between
clients and the Enterprise;
Legal representation of the Enterprise, including litigation, for drafting and
negotiating all Enterprise contractual agreements, for counseling and preparing
briefs on legal action taken by the Enterprise or against the Enterprise; and
Counselling on amendments to the Rules, and handling other legal matters on
behalf of the Enterprise as they may arise.
LLM in Law or related field,
10 years' related work experience in the areas of law enforcement, securities
or commodities regulation, of which at least five years at leadership positions.
Good grasp of business management and excellent legal knowledge
Excellent interpersonal and communication skills.
Proven analytical, problem solving and decision making abilities.
8. CHIEF AUDIT & INSPECTION OFFICER
THE ROLE
With duty station in Addis Ababa-Head office and reporting to the CEO and Board of
Directors, the Chief Officer, Audit & Inspection of EACWSE is mainly responsible for:
Oversight and controls of all operations of the Enterprise, including financial and
physical, of the Enterprise on an ongoing basis;
Internal audit and system of controls to ensure that the administrative procedures,
such as those related to procurement, accounting, and other corporate processes,
are handled according to standard;
Continuous internal review and controls of operational procedures to manage
financial risk as well as performance and other risks, including the Enterprises
accounting policies and technology systems;
Identifying and establishing mitigation procedures for risks at all levels throughout
Enterprise operations and internal systems; and
Working closely with and in parallel to the Legal Services Officer and Warehouse
Security and Surveillance manager, to ensure the seamless integration of the
systems in place aimed at maintaining the integrity of the Enterprise system.
MA/MSc in Finance and Accounting or related fields and Certification in Financial
Management or Auditing.
Over 10 years' related work experience in the areas of Audit and Finance, of
which at least five years at leadership positions.
issues.
Business focused, positive attitude.
For all Positions
Remark: the tasks and duties of the positions stated above may evolve over time
Please visit our recruitment partner job site for easy applicationwww.ethiocv.com
Job Location:
Addis Ababa
Salary:
Company Scale
Term of employment: Permanent
Application Instruction:
To apply for these awesome opportunities, please send us your motivational letter
(no more than 1 page) and maximum of 3-page CV to eacwsejobs@ethiocv.com until
Friday, July 8, 2016 5:00pm. Please insert the job title into the subject line of your
email application.
Note:
Any applicants not meeting the minimum requirements will not receive a response.
Only short listed applicants will be communicated for further selection process.
Selection process includes preliminary discussion ----Formal Interview---presentation
on given subject.
We highly encourage email applications to eacwsejobs@ethiocv.com and online
applications on www.ethiocv.com
We do not receive applications in person, Fax or other mechanisms than email and
online
We are equal opportunity employer!

Good luck!
P ag e 12
N E W S
Financial Bill Proposes Individual

Liability for Maladministration
Reform to financial administration came four years after new budget system became operational
By DAWIT ENDESHAW
A bill proposing the financial punishment
and demotion of the heads of public
institutions that fail to follow financial
administration laws was tabled in
Parliament on June 14, 2016.
The new proposal includes provisions
for penalties to be exacted on heads of
public institutions associated with serious
gaps between their budget allocation and
audited expenditure. It further prescribes
that heads who fail to ensure the timely
submission of plans and financial reports
to the Auditor Generals Office, and neglect
to check that they are done in line with the
law, shall receive a 5,000 Br to 10,000 Br
administrative penalty.
If such a penalty is imposed more than
three times, upon notification to the Prime
Ministers Office and Ministry of Public
Service & Human Resource Development,
the officials responsible may also face
demotion.
The bill foresees the possible intervention
from heads of institutions on internal
auditors now that the knots are tighter,
with direct implication and responsibility
on an individual basis.
Internal auditors of institutions will
no longer be reporting to the heads of

institutions. The Ministry is also being
tasked with establishing an independent
audit committee in each institution, in
order to sustain and guide the auditors
unit on a day-to-day basis.
In the bill, the internal auditors of public
institutions will be directly accountable
to the Ministry of Finance & Economic
Cooperation. The Ministry will also have
a mandate to determine the structural
arrangement of these auditors. A new
autonomous audit committee will oversee
and support the offices. On the basis of
convenience, this committee might be
put in charge of just one office or many.
Any administrative reporting and
accountability of internal auditors has
been revised to fall under the Minister of
Finance & Economic Cooperation.
Auditors with experience in the area,
however, have reservations on the
proposed reform, which came after a
cry out from the Auditor Generals office.
It is a nominal proposal made to silence
complaints, a senior auditor at the
Auditor Generals office commented.
He argues that the implementation of
individual responsibility might be tricky,
as it is not defined in clear terms. He also
finds the penalty range a joke.

When we talk about budget gaps, we
are talking about hundreds of thousands
of birr, if not millions, he said. What
is a 10,000 Br compared to such huge
amounts.
The rationale for the amendment, however,
is not wholly about penalty.
It is articulated in a way that states that
the previous laws and systems fell short
of meeting the changes made when the
This change came following the Auditor

Generals report that six billion birr had been
misappropriated or left unaccounted for.
country adopted a new budgeting system,
programme budget.
Rectifying gaps in the overall financial
management too is mentioned as a factor.
The programme budget system differ from
line item budgeting is that it directly related
to the objectives and vision of respective
budgetary institutions. Every allocation is
linked with what the institutions want to
achieve. Every good and service procured
has to relate with specific targets.
The problem back then with line item

budgeting was that was it is exposed to
wastage, said an accountant with a years
of experience in public institutions
This change came following the Auditor
Generals report that six billion birr had
been misappropriated or left unaccounted
for. The report also identified more
than six common wrongdoers, after
assessing a three-year trend. The budget
bill was also challenged, as it shows no
real connection to the findings of the
audit - simply recycling the formulae of
previous budget allocations.
The number of public offices with
unacceptable reports is increasing, as I
the number od offices that fails to respond
to recommendations by general auditors.
In 2010/11, there were just 11 offices
that came under this category; now, there
are 37.
In a bid to strengthen controlling
mechanisms, the amendment also
proposed a structural change.
It is just one solution; it does not
stand alone, Gemechu Dubisso, auditor
General , told Fortune.
He recommended quick action in
reforming and empowering audit units, in
order to fully implement positive change.
INTERNATIONAL MONETARY FUND

IMF Resident Mission, Addis Ababa, Ethiopia
BID FOR SALE OF USED VEHICLE

The Office THE Resident Representative of the International Monetary Fund (IMF)
would like to sale the following used vehicle on a competitive bid on as-is, where-is
basis. The Office does not give warranty and guaranty for any of its properties being
disposed. Interested bidders are therefore invited to submit their bids according to
the following bid instructions.
1. Prospective bidders can inspect the vehicles Monday to Friday from 2:00pm to
4:30pm at the IMF compound at Bole Road from Monday, June 20 to Friday, June
24.
2. The last day for submission of bids is Monday, June 27.
3. Bids must be accompanied with bid bond of 5% of the value of the bid amount
in CPO written to the International Monetary Fund (IMF). The bid bonds will be
later returned to unsuccessful bidders.
4. Bid winner is required to pay the full amount of the winning price and collect the
vehicle within two weeks after they are notified.
5. Bid winner is responsible to settle any government taxes and duties as they may
be applicable.
6. The Office reserves the right to reject any or all bids.
Details of the vehicle
No
Vehicle Type
1.
Toyota Landcruiser
Prado 3.0, DSL TX
L74WD
Year of
Purchase
2013
Chassis No.
Engine No.
JTEBD9FJ5CK010805
5L-6205760
Interested bidders can deliver sealed bid to the Office of the

Resident Representative of IMF at Africa Avenue (Bole Road
next to Ministry of Civil Service Office)
Telephone +251 11 517 6161
Rent Price, Building . . .

an area preferred by those who can
afford.
Traders too follow the assumption
of the owner and the scientific
deduction. It is common to see shops
branches of shops in Merkato in
the commercial buildings in Bole.
They have the same products, same
name, but relatively higher prices.
The average rent in these buildings
is 1,800 Br.
These areas also generate significant
sums in tax revenue.
Over the last nine months, the
District's Customs Revenue Bureau
collected 249 million Br up by 16pc
from the total sum recorded last year.
Exactly, two years ago, the revenue
from rent stood at only 193 million
Br. The increment of revenue is partly
due to the increasing price for rent
in this area.
Merkato is the main business spot in
Addis Ketema District and location of
what is thought to be Africa's largest
outdoor market.
The volume Addis Ketema collects
has also shown a slight increment.
Over the last nine months, the
District collected 15.6 million Br in
revenue for rent tax from commercial
buildings. Last year somewhat lower
sum was 11.5 million Br.
The increase in rent tax revenue is
indicative of the price as well as the
number of commercial business
centres. The minimum rent income
subject to rent tax of 10pc is 1,801
Br and the ceiling is 60,000 Br on

which a 35pc tax is levied.
This too contributes to the high rents.
"What determines rent price is not only
dependent on supply and demand,
Elfinesh Temesegn, building manager
of Addis Abeba Shopping Center S.C.
explained. Management costs such
as tax, salary of personnel, bills,
maintenance and initial investment
all factor in determining the price.
With ever improving road
infrastructure, more people converge
on shopping areas, building owers
take advantage of increased sales
to rents.
Piassa, the former city centre in
Arada District, supports Elfinesh's
claim of changing dynamics. Piassa
is the area that has seen little change
in infrastructure. Here things are
stable and rents too are much more
stable than the Merkato and Bole
areas.
In this District, rents tend to increase
at a lower rate. The amount of tax
collected from rent has therefore
not shown significant increase, with
growth of a marginal three per cent.
Despite the many factors colliding,
and overlapping leading to a
complex formula of feasibility
the number of multi-purpose
commercial buildings continues to
grow in an unprecedented manner.
In the past nine months only, the City
Administration issued licences for the
construction of 4,300 three-storey
and above buildings with a height of

seven metres. The number shows a
60pc increase compared to the same
time last year.
On Sierra Leone Street, from Agonna
Cinema to Mesqel Square extending
on approximately four kilometres,
a total of 21 buildings are available
with six more under construction.
Of the 21 that are already functional,
around five of them have big, bold to
let signs positioned so they can be
seen from the main road.
The expert sees a volatile market
calculation in this trend of investing
in buildings.
For the time being, owning a
... owning a building has a dual advantage

- the returns are good and buildings
are considered permanent assets by
commercial banks.
building has a dual advantage - the
returns are good and buildings are
considered permanent assets by
commercial banks. They can easily
pass to be collateral for other loans.
Alazar explained.
Such a scenario may not be the rule
as the country's economy, which is in
transition, stabilises and diversifies
with manufacturing taking the lead
as planned, he added.
P ag e 13
The Commercial Bank of Ethiopia

(CBE) said in the last five years it has
prioritised manufacturing, exports
and agriculture. But it rarely provides
loans for commercial buildings
considering the profitability of the
projects. Last year a mere nine per
cent of the 75.4 billion Br disbursed
loans by commercial banks were
given for construction projects.
But the case is different for other
banks. About 10pc - 15pc of the Bank
of Abyissinia's (BOA) loans were
for commercial buildings. Building
licences, Bills of Quantity, feasibility
studies, investment licences, 30pc
completion, and background of the
customer are requirements that must
be met by loan applicants.
"We tend to lower loans for such
kinds of sector [construction of
commercial buildings]," said a
person from the Bank who requested
that his name be withheld. "The longterm nature of such kinds of loans
make it hard to reinvest the money,"
he added.
Customers of Dashen Bank must
complete 60pc of the building to get
the loan.
According to the 2014/15 NBE report
13pc of four billion Br investment
capital went to real estate, rents and
business activities.
The country's real estate development
and renting activities grew by four per
cent in 2014/15 compared to same
period the previous year. The revenue
collected from both real estate and
rent tax which contributed 51.5
billion Br to the GDP, declined by
half from 105 billion Br in 2012/13.
A n n o u n c e m e n t
REQUEST FOR EXPRESSION OF INTEREST (EOI)

This notice is placed on behalf of UNECA. You are therefore requested to direct all your queries to United Nations Economic Commission for Africa using the fax
number provided below
Title of the EOI: Provision of Dry Cleaning & Laundry Services
Date of this EOI: 13 June 2016
Closing Date for Receipt of EOI :03 July 2016
EOI Number: EOIUNECA12621
E-mail Address: rdesta@uneca.org
Address EOI response by fax for the Attention of: Ms. Rahel Desta, SCMS
Fax Number: +251 115 511874
UNSPSC Code: 91110000, 91111500, 91111502
DESCRIPTION OF REQUIREMENTS
The Economic Commission for Africa (UNECA) hereby solicits a proposal from your company/firm for the supply and administration of Dry Cleaning and Laundry
Services for the Security and Safety Service (SSS), Medical Services and other official and private customers at the ECA compound, Addis Ababa, Ethiopia.
UNECA will provide the necessary space of approximately 20 m2 to the Contractor located currently within the ECA compound. The Contractor will be charged a
monthly rent for the allocated space. The current amount for 2016 is Birr 57 per month per m2.
The successful bidder will be awarded a contract for an initial period of 3 years for the above mentioned services with an option to extend for two (2) additional
consecutive periods of one (1) year each based on performance.
Interested firms will be invited to the tender by a Request for Proposal (RFP) at a later stage. This tender envisages selection of a single local contactor to provide
Laundry Service.
Please note that UNECA is precluded from entering into contract with a firm that is not fully registered with UNECA. Those interested in responding to this
invitation but not currently fully registered as vendors with UNECA, are encouraged to register before submission of the bid. Further details may be obtained
by visiting https://www.ungm.org/Vendor/Registration. In order to be eligible for UN Registration, please make sure to declare in writing the Prerequisite for
Eligibility criteria itemised from A-E as contained in EOI instruction attached.
Those interested should write to the above-mentioned e-mail address or fax number to submit their expression of interest by the deadline of 03 July 2016
Vendors interested in participating in the planned solicitation process should complete the Vendor Response Form (http://www.un.org/depts/ptd/
pdf/eoi12621.pdf ) of this EOI and fax it or email it to UNECA before the closing date set forth above
P ag e 14
Invitation for Proposals

UNFPA, United Nations Population Fund, an international development agency, invites qualified organisations to submit proposals for the implementation of the 8th UNFPA
funded country programme (2016-2020) in Ethiopia. The purpose of the Invitation for Proposals is to identify eligible non-governmental organisations for prospective
partnership with UNFPA Ethiopia Office to support achievement of results outlined in section 1.3 below.
Organisations that wish to participate in this Invitation for Proposals are requested to send their submission through ethiopia.office@unfpa.org or hand delivered at or by
courier clearly marked NGO Invitation for Proposals to the following address:
United Nations Population Fund
UNECA Compound, Congo Building, 1st Floor, South Wing
P. O. Box 5580 Addis Ababa, Ethiopia
ethiopia.office@unfpa.org
The deadline for submission of proposals is on or before 11 July, 2016 at 3.30pm Copenhagen time.
Proposals received after the date and time may not be accepted for consideration.
Applications must be submitted in English.
This document is available and can be assessed on http://ethiopia.unfpa.org
Any requests for additional information must be addressed in writing by 4 July, 2016 at the latest to Mr. Victor Rakoto at victor@unfpa.org. UNFPA will post responses to
queries or clarification requests by any NGO applicants who submitted, on UNFPA Ethiopia website before the deadline for submission of applications.
UNFPA shall notify applying organisations whether they are considered for further action.
Section 1: Background
1.1 UNFPA
mandate
1.2 UNFPA
Programme of
Assistance in
Ethiopia
UNFPA is the lead UN agency for delivering a world where every pregnancy is wanted, every birth is safe, and every young persons
potential is fulfilled.
In Ethiopia, UNFPA works with the government and other partners to improve the condition of life of the population by ensuring
universal access to Sexual and Reproductive Health and Rights and Reduce Maternal Mortality to accelerate progress on ICPD agenda.
For the Eighth Country Programme, UNFPA will be working at the National level and the following Regions: Oromia, Amhara, South
Nations Nationalities and Peoples Region (SNNPR), Addis Ababa, Tigray, Afar, Gambella and Benshangul-Gumuz.
Further information on the programme can be found on http://ethiopia.unfpa.org
Within this framework and as set out in the 2016-2020 Country Programme Document (CPD) working with government and other partners, UNFPA will
contribute to achieve the following results:
1- On the area of Maternal Health: (i) increase the number of health facilities reporting on maternal death surveillance and responses; (ii) increase the
number of fistula repairs ; (iii) increase the number of health facilities providing emergency obstetric and new-born care services; (iv) reduce the
incidence of cervical cancer: (v) increase the implementation rate of Minimum Initial Service Package in humanitarian settings:
1.3 Specific results
To achieve those results, the following strategies will be implemented : (a) reinforce the capacity of human resources for health, including in
emergency settings; (b) scale up maternal death surveillance and response in 33 additional districts; (c) enhance the quality and availability of
midwifery services and emergency obstetric and new-born care through training and provision of teaching and learning materials; (d) improve
the prevention, case identification, management and rehabilitation of obstetric fistula patients through community mobilization, training health
workers and provision of equipment; (e) support early screening and treatment of cervical cancer through training health workers and provision
of equipment; (f) advocate for the inclusion of sexual and reproductive health in humanitarian and health sector response plans; and (g) support
emergency preparedness and timely response through prepositioning of life-saving reproductive health kits and other supplies.
2- On Family Planning: (i) increase the percentage of service delivery points offering modern contraceptives; (ii) increase the percentage of service
delivery points with life-saving maternal and reproductive health medicines; (iii) increase the number of health extension workers able to support
human rights based family planning services.
To achieve those results, the following strategies will be implemented : (a) reinforce the capacity of service providers to deliver rights-based family
planning services; (b) strengthen the supply chain management and product quality assurance; (c) support increased availability of life-saving
reproductive health drugs and family planning commodities; and (d) strengthen community based family planning programmes.
3- On Youth and Adolescents: (i) increase the number of young people who receive sexual and reproductive health services with UNFPA support; (ii)
increase the number of young people equipped with life skills; (iii) increase the percentage of facilities providing the national minimum standard
adolescent and youth sexual and reproductive health package; (iv) increase the number of health workers with knowledge and skills to provide
youth friendly sexual and reproductive health services.
To achieve those results, the following strategies will be implemented : (a) promote active participation of young people, especially adolescent
girls, to engage in programme development and decision making processes affecting their sexual and reproductive health and rights; (b) enhance
life-skills, revise current curriculum and expand comprehensive sexuality education to improve comprehensive knowledge of young people on
sexual and reproductive health; (c) strengthen the capacity of youth organisations, parents and communities to fulfil the sexual and reproductive
health and rights of young people; and (d) strengthen sexual and reproductive health information and services for young people, including female
sex workers. (e) train health service providers to deliver youth-friendly sexual and reproductive health services; (f) support availability of sexual
and reproductive health commodities in youth-friendly facilities; (g) improve referral linkages between service delivery points and community
structures; and (h) strengthen the integration of sexual and reproductive health and HIV/AIDS.
4- On the area of Gender: (i) increase the number of communities that have made public declarations against female genital mutilation and child
marriage; (ii) increase the number of identified gender-based violence survivors who received services, per national protocol; (iii) increase the
percentage of health facilities in humanitarian settings with post-rape kits and other clinical commodities for management of sexual violence; (iv)
reduce the percentage of women aged 15-49 years who think wife beating can be justified; (v) increase the number of regions with coordination
mechanisms and strategies to prevent and respond to violence against women and girls
To achieve those results, the following strategies will be implemented: (a) support community mobilisation initiatives on the rights of women and
girls; (b) advocate for the enforcement of policies and laws on harmful traditional practices and gender-based violence; (c) scale up the provision
of services for survivors of harmful traditional practices and gender-based violence; (d) support the integration of harmful traditional practices and
gender-based violence issues in the health and legal sectors as well as in disaster risk management protocols; and (e) support national humanitarian
actors to prevent gender-based violence and to provide multi-sectoral services for survivors of gender-based violence.
5- On the area of Population and Development: (i) increase the number of analytical reports disseminated based on 2017 population and housing
census and 2016 Ethiopian Demographic and Health Survey; (ii) increase the number of regions with functional web-based integrated management
information system; (iii) increase the number of national and regional population situation analysis reports disseminated. To achieve those results,
the following strategies will be implemented: (a) support the 2017 Population and Housing Census and the 2016 Demographic and Health Survey;
(b) support the civil registration and vital statistics and web-based integrated management information systems; (c) support seasonal assessments
and risk profiling for vulnerability analysis and risk reduction interventions; (d) support regional and national population situation analyses; (e)
support key stakeholders to generate data for policy and programme formulation, monitoring and evaluation; and (f) advocate for the inclusion of
P ag e 15
the demographic dividend in national policies, strategies and programmes.

6- On the area of providing SBCC support to programmatic interventions:
In contribution to the achievement of the results under the different programmatic areas UNFPA feels there is an imperative to undertake Social and Behavior Change
Communication (SBCC) activities. These will relate to the creation of awareness and concretely contributing in bringing about changes in social norms on the importance of
use of reproductive health services including family planning; prevention of HIV/AIDS; combating Harmful Traditional Practices; improving Maternal and newborn health; and
prevention of violence against women through research based multi-media communication interventions.
The SBCC activities will involve the undertaking of the following to contribute to the achievement of the programmatic activities:
(a) Research based media and communication interventions involving development and implementation of multimedia communication strategy;
(b) Multimedia campaigns in various local languages; and
(c) Capacity building of local community leaders, religious leaders, women and youth association leaders, law enforcement bodies, health professionals, population program
managers and media people
Section 2: Application requirements and timelines

2.1
The expression of interest shall include the following documentation:
Documentation

Copy of provisions of legal status of the NGO in Ethiopia [Required to be eligible for review]
required for the

Copy of provisions of legal status of the NGO in Country of incorporation for INGOs
submission

Attachment I NGO Profile and Programme Proposal

Latest annual report and audit report as separate documents or hyperlink to the documents
2.2 Indicative
Invitation for Proposal issue date
19 June, 2016
timelines
Deadline for submissions of proposals
11 July, 2016
Deadline for requests of additional
4 July, 2016
information/ clarifications
Review of NGO submissions
14 July, 2016-28 July, 2016
Notification of results communicated to NGO 29 July- 5 August, 2016
Section 3: Process and timelines
3.1 Review &
Applications will be assessed by a review panel to identify organisations that have the required knowledge, skills, and capacity to support achievement
evaluation of NGO of results using criteria outlined in section 3.2 below.
submissions
It should be noted, however, that participation in this Invitation for Proposals does not guarantee the organisation will be selected for partnership with
UNFPA. Selected NGOs will be invited to enter into an implementing partner agreement and applicable UNFPA programme policy and procedures will
apply.
3.2 Selection
Eligible Organisations will be selected in a transparent and competitive manner, based on their capacity to ensure the highest quality of service,
criteria
including the ability to apply innovative strategies to meet programme priorities in the most efficient and cost-effective manner.
UNFPA Ethiopia office will review evidence provided by the NGO submission and evaluate applications based on the following criteria:
3.3 Prospective
partnership
agreement
NB: Any proposal not submitted in specified working language will be excluded from consideration.
Governance &
The organisation has a clearly defined mission and goals that reflect the organisations structure and context, as well as
Leadership
alignment to UNFPA priority areas.
Organisation does not have a history of fraud, complaints or service delivery issues.
Human Resource
Organisation has sufficient staff resources and technical expertise to implement the proposed activities.
Organisation does not have conflicts of interest with UNFPA or its personnel that cannot be effectively mitigated.
Comparative
The organisations mission and/or strategic plan focuses on at least one of the UNFPAs programme areas.
Advantage
The organisation has experience in the country or field and enjoys prominence in areas related to UNFPAs mandate.
The organisation has a proven track record in implementing similar activities and is seen as credible by its stakeholders and
partners.
The organisation has relevant community presence and ability to reach the target audience; especially vulnerable
populations and hard-to-reach areas.
Monitoring
The organisation has systems and tools in place to systematically collect, analyze and use programme monitoring data
Partnerships
The organisation has established partnerships with the government and other relevant local, international and private sector
entities.
Environmental
The organisation has established policies or practices to reduce the environmental impact of its activities. If no policies exist,
Considerations
the organisation must not have a history of its activities causing negative impact to the environment.
UNFPA will inform all applicants of the outcome of their submissions in writing to the email/ postal address indicated in the NGO submission.
Attachment I: NGO Profile and Programme Proposal (To be completed by NGO submitting proposal)
The purpose of this proposal is to provide the following information: a) overview of the NGO, b) an outline of the activities the NGO is proposing to partner with UNFPA
and c) provide UNFPA with sufficient evidence to show it meets the criteria outlined in section 3.2 of the IFP. A separate form should be filled for each programme proposal
submitted.]
Information provided in this form will be used to inform the review and evaluation of NGO submissions as outlined in the Invitation for Proposals.
Section A. NGO Identification
A.1
Organisation name
Organisation
Address
information
Website
A.2 Contact
Name
information
Title/Function
Telephone
Email
A.3 Conflict
To your knowledge, do any staff members of your Organisation have personal or financial relationships with any staff of UNFPA, or any other conflicts of
of interest
interest with this programme or UNFPA? If so, please explain.
statement
A.4. Fraud
Does your Organisation have fraud prevention policies and practices in place?
statement
Section B. Overview of the Organisation
P ag e 16
B.1 Annual budget Size of annual budget

(previous year, USD)
Source of funding
Outline funding base, including local, international, and private sector donors
Main funding partners/
donors
B.2 Staff capacity List of number and key functions of core Organisation staff
B.3 NGO mandate
and background
B.4 Available
expertise and
specialists
B.5 Experience in
proposed area of
work
Outline the Organisations mandate and field of work, and how it aligns to UNFPAs mandate.
Outline the distinctive technical capacity of the Organisation to achieve results in the proposed programmatic area
Outline of type/scope and key results achieved in proposed programmatic area in recent years, including any recognition received at local
/ global level for the work in the proposed area. Include a summary experience in Ethiopia and prior experience with any Organisation of
the United Nations
B.6 Knowledge of Outline of presence and community relations in the location(s) the activities will be implemented in: include access to vulnerable
the local context/ populations and hard-to-reach areas, if any)
Accessibility to
target population
B.7 Credibility
To what extent is the NGO recognized as credible by the government, and/or other key stakeholders/partners?
B.8 Monitoring
Outline the systems in place (policies, procedures, guidelines, and other tools) that systematically collect, analyse and use programme
monitoring data
Section C. Proposal overview

C.1 Programme title
C.2 Results to which Refer to Section 1.3 of the Invitation for Proposal
the programme
contributes
C.3 Proposed
From MM/YYYY to MM/YYYY
programme duration
C.4 Proposed
Programme budget
Section D. Proposed interventions and activities to achieve intended results
D.1 Programme
This section should provide a brief summary of the programme.
Summary
It should include a problem statement, the context and the rationale for the Programme:
Overview of the existing problem;
How the problem is linked to global/regional/national priorities and policies; and
The relevance of the programme in addressing problem identified
This section should briefly explain why the proposing Organisation has the experience, capacity and commitment to successfully
D.2 Organisational
background and
implement the workplan.
capacity to implement
D.3 Expected results What this programme will achieve - programme objectives and expected results
D.4 Description of
activities and budget
D.5 Gender, Equity
and Sustainability
(optional)
D.6 Environmental
impact
D.7 Other partners
involved
D.8 NGO contribution
D.9 Additional
documentation
This section includes a detailed description of budgeted activities to be undertaken to produce the expected results. Clear linkages
between activities and results must be indicated. The applicant should include a separate excel spreadsheet with full details of
activities and associated budget.
Explain briefly the practical measures taken in the programme to address gender, equity and sustainability considerations
Outline the likely environmental impact of the programme, if any.
This section outlines other partners who have a role in programme implementation, including potential sub-contractees and other
Organisation providing technical and financial support for the programme
This section briefly outlines the partner specific contribution to the programme (monetary or in-kind)
Additional documentation can be mentioned here for reference
Section E. Programme Risks and Monitoring

E.1 Risks
Identify major risk factors that could result in the proposed activities not being successfully implemented and any key assumptions on which
the proposed intervention is based. Include any actions the Organisation will undertake to address/reduce identified risk(s).
E.2 Monitoring and evaluation
This section briefly outlines the monitoring activities
Section F. References
Please provide 3 references to support your proposal. Include name, title, contact information and brief summary of relationship.
Reference 1:
Reference 2:
Reference 3:
..
P ag e 17
P ag e 18
QUOTES
"These are conservative estimates."

The Eritrean Ministry of Information's website stated this on June 16, 2016,
while giving the number of Ethiopian soldiers killed and wounded as 200
and 300, respectively.
Delicate
Number
Tobacco grows well in Ethiopia, and farmers are being encouraged to
increase both yield and quality. The Tobacco Monopoly Organisation
in Addis Abeba has distributed a large number of seeds to farmers in
selected areas, mainly in the Province of Sidamo, where 11,000 farmers supply 90pc of the tobacco required by the Monopoly.
Source: The Handbook for Ethiopia, Copyright 1969, University press for Africa.
11
...The number of companies

engaged in the supply of
petroleum, one of which entered
the market very recently. They
possess more than 660 petrol
stations, according to the
Ethiopian Petroleum Supply
Enterprise.
wwayaybback
ackw
when
hen. .. .. .
Meskel festivity 1957, Addis Ababa.

Source: Historical photos from the Horn of Africa Facebook page.
EXPORTS
Ministry Targets $318M from Live Animal Export
The Ministry of Livestock & Fishery Resources plans to earn 318 million
dollars from the export of 780,866 live animals in the 2016/2017 fiscal
year. Though it targeted over 200 million dollars for the last 11 months, it
managed to earn less than 140 million dollars, according to the Animal &
Animal Products Marketing Directorates action plan presented last Tuesday.
Ethiopia has not yet benefited from the sector, which has abundant livestock
and fishery resources, said the Minister, Sileshi Getahun. He identified
shortage of fodder, animal health, lack of input supply and the illegal market
chain as major challenges. Instability in importing countries was another
factor identified by Marketing Director, Fekadu Getachew, who noted the
impact on Ethiopias foreign currency earnings.
Publication: The Ethiopian Herald, June 16, 2016.
FINANCE
Gov't, Foreign Companies Discuss Draft Tax Laws
The Ministry of Finance & Economic Cooperation (MoFEC) and the
Ethiopian Revenues & Customs Authority (ERCA) have organised a joint
session for foreign companies to discuss the draft Income Tax and Tax
Administration Proclamations. The Bills will help harmonise economic
development with the business activities in the nation, the Ministrys Legal
Service Director, Wassihun Abate, said in his presentation. The purchasing
power of the Birr, tax fairness and ambiguity in the current provision were
issues considered in drafting the law, to alleviate problems encountered by
tax payers, he said. The new Proclamation will enable foreign companies
to focus more on their business activities. Participants raised issues of
corruption and inadequate treatment of the petroleum sector in the Bills.
Publication: The Ethiopian Herald, June 12, 2016.
Ethiopia, EU Sign Strong Relations Declaration
Ethiopian Prime Minister Hailemariam Desalegn, who travelled to Brussels
for the European Development Days on June 15 and June 16, has signed a
joint declaration with the European Union (EU) reflecting the EUs strong
relations with Ethiopia, according to a press release issued by the EU
Commission. The declaration dubbed Towards an EU-Ethiopia Strategic
Engagement", was signed by the Prime Minister and Jean-Claude Juncker,
By Matewos Berhanu
Banking on the
Manufacturing Sector
Dynamics in economics is abundantly visible at the early stages

of any developing economy. This is catalysed by individuals with
complex and diversified economic behaviour. Policymakers in
such countries, including Ethiopia, inevitably face the challenge
of updating their economic development roadmaps to cater
for circumstantial calls to meet required targets in an effective
and timely manner.
Their economic institutions should not only focus on regulatory
roles so that the game is played by the book, but also ensure
that the book is written according to the ever changing needs.
Converging our attention to Ethiopia's economic status quo
- where the economy is in dire need of industrialisation,
particularly in the manufacturing sector - a different policy
approach is required to expedite the process towards attaining
the longed-for economic status. Thus, financial institutions
(especially banks) have a presumed role on industrialisation.
With the aim of boosting the country's expansion of the
manufacturing sector, which is often seen as a measure of the
strength of any economy, we need to consider enabling, or even
requiring, financial institutions to have manufacturing wings
owned and managed by themselves.
Financing, which is posed as one of the major concerns in this
regard, will be much easier and closer to the sector if this was
put into action. One analogy here is having a baby breastfeeding
from its own mother, rather than the 'mother-in-law'. The
possibility of having idle cash in their large pockets can be
reduced, and at least be used as working capital for the sector.
Top level management in banks usually have an in-depth
knowledge of the country's economic path and can potentially
be very fruitful, if given the opportunity to spearhead, or directly
take part in, the manufacturing sector.
One of the 'unattractive' faces of the manufacturing sector is
the length of time it takes before reaping the rewards, as well
as the need for financial stability throughout. Banks, primarily
engaged in financial services with their ongoing returns, can
afford to wait long enough and are in a better financial position
to take the associated risks.
Taking a closer look at what it takes to get involved in
manufacturing firms, there needs to be a long-term asset
commitment backed by full confidence in the smooth
running of the economy. Banks are better positioned to make
sound investment decisions based on the detailed economic
information they have.
Profits from manufacturing firms are usually very attractive,
although time consuming. These gains, I this approach,
would be shared among many citizens, as banks are owned
by numerous shareholders. Furthermore, building this sector
with potentially large locally-financed firms would help a
considerable amount of earnings to be retained within the
territory - unlike the case with foreign investors.
Expediting the country's industrialisation journey is at the
centre of the discussion here, and this is fundamentally about
finding alternative ways to take advantage of an already available
resource and expertise - both financial and human. As such,
this idea of considering the direct engagement of banks in the
manufacturing sector is more than simply utilising the idle
money they hold.
Prospective investors remain reluctant to engage in the
manufacturing sector, despite a wide range of government
incentives and well-equipped industry parks.
Of course, this approach might require putting limits in to
place on how long banks can be directly engaged in the sector.
Once the sector begins to walk tall on its own feet, they would
have to revert to focusing on their original economic role as
financial intermediaries. This would, by then, demand even
greater capacity than now.
In considering this idea, care would need to be taken to ensure
zero impact on existing or potential investment prospects. This
could be achieved by limiting it to specific manufacturing areas
as necessary and putting a ceiling on the amount of equity. Such
a notion may not have been practiced in any other economy,
but could still prove to be expedient for countries like Ethiopia,
after the appropriate due diligence. It might also set a good
example to other similar countries in the future.
president of the Commission, ahead of the two-day event, the release

indicated. The declaration emphasises Ethiopia's crucial role in Africa and the
international community and its significant socio-economic development. By
signing this declaration, the EU and Ethiopia have raised a 40-year partnership
to an even more strategic level, according to the statement.
Publication: Ethiopian News Agency, June 14, 2016.
AGRICULTURE
Ministry Imports 817, 000MT Fertilizer, Ready for Meher
The Ministry of Agriculture & Natural Resources development said that it has
imported more than 800 thousand tonnes tons of fertilizer to be distributed
to farmers during the main rainy season, Meher. The Ministry has purchased
the fertilizer while preparing farmers, agricultural extension workers and
experts for a better harvest during the coming rainy season, said its Public
Relations Office Head, Alemayehu Birhanu. In collaboration with the regional
bureaus, the Ministry has provided extensive training and awareness on the
use of fertilizers and other inputs vital for a bumper harvest. The imported
fertilizer is being distributed to the farmers and selected seeds are under
preparation on selected farms in addition to the supply by the Ethiopian Seed
Enterprise, he noted.
Publication: Walta Information Center, June 13, 2016.
WATER
Potable Water Reaches 41M Rural, Urban Residents
The Ministry of Water, Irrigation & Electricity has announced that coverage
of potable water in Ethiopia has reached 84pc. Increased access to water
from 52pc in 2011 has been achieved through mobilizing stakeholders in
the sector, according to the Ministrys socio-economic expert, Addisalem
Kelemework. Access to potable water in rural Ethiopia has reached 82pc
while that in urban areas is 91pc and the divide has been narrowing, she said.
Government and its partners have developed more than 107 thousand potable
water points in rural areas during the first Growth and Transformation Plan,
while 3,667 more are being developed. Similarly, government and its partners
have developed 279 urban water projects. The projects have benefited more Matewos Berhanu is an account and development
than 41 million people.
economist by training and works at African Bamboo Plc, a
Publication: Walta Information Center, June 11, 2016. company with a presence inside Hawassa Industrial Park.
C O M M E N TA R Y
P ag e 19
The tax bill soon to be tabled for legislators has invoked public interest and an animated debate. With a focus on taxation and accounting reporting, Temesgen Worku,
(t.w.bezabih@vu.nl) senior lecturer at the Department of Accounting & Finance, Addis Abeba University, and a PhD candidate at Vrije University Amsterdam, The
Netherlands, examines the Ins, Outs and Nowheres of the bill.
Implications of Tax Bill for New Era in Taxation
he release of the draft tax

laws to the public over the
last weeks has dominated
discussions and debates
on the mainstream media. Such
discussion for and against the
proposed law is expected as tax
represents the biggest intervention
of the government in the economy,
and of course on individual lives.
All the macroeconomic indicators
reveal that the Ethiopia of 2002,
the year the existing tax law was
enacted, was quite different from the
current Ethiopia, which makes the
revision of the law appropriate. The
proposed law is significantly different
in terms of content, structure,
completeness, and organisation. In
a clear departure from the existing
poorly connected tax laws, it creates
a new tax administration covering
issues which are applicable to all
tax types levied in the country. It
also avoids redundancy, allowing
cross-referencing.
Interestingly, the draft income tax
law keeps the scheduler approach
of income taxation, while at the
same time addresses some of the
fundamental limitations of the
existing law. Such is the case, for
instance, in relation to Schedule
D income, which used to be short
of capturing other forms of income
not included in the first three
. . . I support the notion that tax should

play its role of ensuring equity and fair
redistribution of income.
schedules. It retains the widely used
definition of income as every sort
of economic benefit including nonrecurring gains in cash or in kind,
from whatever source derived and
in whatever form paid, credited or
received.
However, the inclusion of Article 60
in the draft law ushers in a new era
in the relationship between the tax
collector and the income earner.
This catch-all provision requires a
person who gets income not taxed
somewhere else to pay 20pc tax on
that income. The Article also makes
the meaning of income complete
and a bit frightening if the law is
going to be enforced in full force.
Its implication is that those who get
income through corrupt activities or
illegitimate manner will be required
to pay 20pc of it as income tax.
And if a person is caught engaging
in corrupt activities, the list of his
criminal charge now includes,
for not paying tax on this illegal
income. It is like a snake in the
grass having overarching effect
unless some exemption threshold
is added to such income in the

upcoming income tax regulation
or directives. This 28-word article
requires a person who finds a lost
necklace on his way home to pay
tax on it.
Ano t h e r r e m a r k a b l e c h a n g e
observed in the draft law is the
special emphasis given on income
earned by foreigners and on
taxation of foreign-held businesses
in the country. The term permanent
establishment, which usually refers
to addresses of foreign-owned
businesses, is mentioned in the draft
income tax law 41 times. There is no
doubt that in the age of globalisation
where there is fluid movement
of capital with the rising digital
economy, multinational companies
are becoming a challenge to tax
authorities all over the world.
Ethiopia is no exception.
Since there are differences in
national tax laws, multinational
companies follow aggressive tax
planning strategies, usually called
Base Erosion and Profit Shifting.
They are known for exploiting
loopholes in national tax laws to
artificially shift profits to low or
no-tax locations where there is little
or no economic activity, resulting
in little or no overall corporate tax
being paid. Suffice the existence of
many mailbox companies in the
world.
Tax authorities the world over
lose between 100 billion and 240
billion dollars annually from such
aggressive tax strategies, according
to OECD estimates. A survey by
PricewaterhouseCoopers (PwC)
shows that 89pc of the multinational
companies are directing more
attention to the issue of permanent
establishments. And 63pc of them
believe that tax authorities have
become more aggressive in assessing
permanent establishments.
One important addition to the draft
law to address the risk of profit
shifting is the thin capitalisation
rule included in Article 46, which
limits the ability of foreign-owned
business to deduct interest paid to
a non-resident parent, affiliate and
certain other owners. This provision
restricts the repatriation of funds
with tax-deductible payments
that reduce tax in Ethiopia. Some
restrictions are also added on the
deductibility of interest payments.
However, the draft law once again
repeats the mistakes made in the
existing law. Article 23(2) provides
that interest is deductible to the
extent the rate is not more than
two per cent above the interest rate
used between the National Bank
VIEWPOINT
By Anatole Kaletsky
Brexits Impact on the World Economy
he febrile behavior of
financial markets ahead
of the United Kingdoms
referendum on June 23 on
whether to remain in the European
Union (EU) shows that the outcome
will influence economic and political
conditions around the world far
more profoundly than Britains
roughly 2.4pc share of the global
GDP might suggest. There are three
reasons for this outsize impact.
First, the Brexit referendum
is part of a global phenomenon:
populist revolts against established
political parties, predominantly
by older, poorer, or less-educated
voters angry enough to tear down
existing institutions and defy
establishment politicians and
economic experts. Indeed, the
demographic profile of potential
Brexit voters is strikingly similar
to that of American supporters of
Donald Trump and French adherents
of the National Front.
Opinion polls indicate that British
voters back the Leave campaign by
a wide margin, 65pc to 35pc, if they
did not complete high school, are
over 60, or have D, E blue-collar
occupations. By contrast, university
graduates, voters under 40, and
members of the A, B professional
The Brexit referendum is part of a

global phenomenon: populist revolts
against established political parties,
predominantly by older, poorer, or
less-educated voters . . .
classes plan to vote Remain by
similar margins of 60pc to 40pc
and higher.
In Britain, the United States, and
Germany, the populist rebellions
are not only fueled by similar
perceived grievances and nationalist
sentiments, but also are occurring
in similar economic conditions. All
three countries have returned to
more or less full employment, with
unemployment rates of around five
percent. But many of the jobs created
pay low wages, and immigrants
have recently displaced bankers as
scapegoats for all social ills.
The degree of mistrust of business
leaders, mainstream politicians, and
expert economists is evident in the
extent to which voters are ignoring
their warnings not to endanger the
gradual restoration of prosperity by
upending the status quo. In Britain,
after three months of debate about
Brexit, only 37pc of voters agree
that Britain would be worse off
economically if it left the EU down
from 38pc a year ago.

In other words, all the voluminous
reports - by the International
Monetary Fund, the OECD, the
World Bank, and the British
government and the Bank of
England - unanimously warning of
significant losses from Brexit have
been disregarded. Rather than trying
to rebut the experts warnings with
detailed analyses, Boris Johnson, the
leader of the Leave campaign, has
responded with bluster and rhetoric
identical to Trumps anti-politics:
Who is remotely apprehensive
about leaving? Oh believe me, it will
be fine.
In other words, the so-called experts
were wrong in the past, and they are
wrong now.
This kind of frontal attack on
political elites has been surprisingly
successful in Britain, judging by
the latest Brexit polling. But only
after the votes are counted will we
know whether opinions expressed
to pollsters predicted actual voting
behavior.
This is the second reason why the
Brexit result will echo around the
world. The referendum will be the
first big test of whether it is the
experts and markets, or the opinion
polls, that have been closer to
the truth about the strength of the

populist upsurge.
For now, political pundits and
financial markets on both sides
of the Atlantic assume, perhaps
complacently, that what angry voters
tell pollsters does not reflect how
they will actually vote. Analysts and
investors have consistently assigned
low odds to insurgent victories:
in late May, betting markets and
computerized models put the
probabilities of Trumps election
and of Brexit at only around 25pc,
despite the fact that opinion polls
showed almost 50pc support for
both.
If Brexit wins on June 23, the low
odds accorded by experts and
financial markets to successful
populist revolts in America
and Europe will immediately
look suspect, while the higher
probabilities suggested by opinion
polls will gain greater credibility.
This is not because US voters will be
influenced by Britain; of course they
will not be. But, in addition to all the
economic, demographic, and social
similarities, opinion polling in the
US and Britain now face very similar
challenges and uncertainties, owing
P ag e 20
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P ag e 22
Op-ed Notes
Should We Fear "Khaki Capitalism"?

Under the stewardship of the Revolutionary
Democrats, contemporary Ethiopias economy
has developed some rather ironic contrasts.
Within two decades, it has managed to attain
the second largest GDP in the COMESA trading
bloc, while maintaining the lowest share in GDP
per capita. At 1.2 billion dollars, Djibouti has
a GDP per capita that is double Ethiopias 550
million dollars. Although agriculture remains the
mainstay of the Ethiopian economy, with a share
of close to half of this total - the largest in the
bloc - the share of industry to GDP accounts for
just 11pc - the lowest in the bloc, with a range
from Burundis 18pc to Zambias 35pc.
The Revolutionary Democrats have been aware
of this structural imbalance in the economy
from the day they took over the custodianship
of the Ethiopian state 25 years ago. Prioritising
the transformation of the subsistent agricultural
economy, they have always aspired to leave
behind a legacy of industrialisation in the style
of South Korea, Taiwan and even Japan. All
their policy and ideological documents are
expressions of this conviction.
If they have battled their opponents over
anything throughout the years, it has been about
the timing, sequence and emphasis of their
convections, more so than the substance. Yet,
effecting structural transformation in an economy
is a process and not simply a declaration of intent.
It requires a focused drive in aligning policies,
in order to incentivise prospective industrialists
through tax holidays and preferential customs
tariffs; the provision of land, finance and
infrastructure; and building a bureaucracy that is
competent in avoiding hurdles from production
to the consumer markets.
The World Bank - a keen monitor of Ethiopias
macroeconomic performance - once called
upon the EPRDFites to improve the skills
development in running the business of firms
in manufacturing, while streamlining the
investment climate to redirect resources from
poor performers to dynamic companies.
To their credit, the Revolutionary Democrats
have clarity on the direction they have opted to
take along these lines. They have an ambition to
boost the share of the manufacturing industry
in the economy to 18pc - increasing it four-fold
- by 2020. If achieved, their policy will result
in the creation of employment for 1.5 million
citizens - again a four-fold increase and an
export revenue of five billion dollars, enhancing
the 10pc share of manufacturing in the export
sector to 25pc.
These lofty goals may sound ambitious, even by
their own standards. To naysayers, they could
appear to be part of an electoral manifesto
designed to impress voters. Nonetheless, the
numbers of past accomplishments testify to the
fact that they have the grounds to dream big.
On aggregate, productivity and value addition
in the manufacturing sector has not stopped
growing over the past 10 years - a trend never
before seen in the countrys economic history.
From a manufacturing output valued at 35.1
billion Br in 2006, Ethiopia has registered 105.2
billion Brs worth of industrial production in
2014. This is a huge feat by any measure.
This 200pc increase may appear to be a
remarkable achievement in its own right; but,
viewing it from the perspective of the contribution
the manufacturing sector has to the overall
economy, it is insignificant. It is a long way
from the advancements required to introduce
the structural shift required to absorb the
massively increasing young population joining
the workforce.
Pundits see the absence of a magic wand to pull
the country through to its designed destination as
a void. Interestingly, it was the militarys industrial
complex that the former Prime Minister Meles
Zenawi saw as a potential tool in this respect,
creating home grown capability with their
characteristic discipline.
He was not the first to aspire the application of
military capability, discipline and efficiency to
effect transformational change in an economic
structure. A five-star General during the Second
World War, former US President Dwight D.
Eisenhower, was both the proponent of the
concept and warner of its potential influence on
Do Elections in Africa Favour Leadership Changes?

When voters go the polls the world
over, they supposedly do so because
they have a chance to choose, among
competing candidates, the leaders
that govern them for four-to-five
years. And they expect their choice
to have some impact on their daily
lives: good leaders do likely help
the economy grow, they favour job
creation and improve education
or health services. Bad leaders
can easily drive a country towards
economic disaster or civil violence.
For a long time, Africa largely did
without multiparty elections. Few
nations allowed voters to have a say
in who governed them. Botswana
was a notable exception, holding
periodic elections since 1966, and
reaping benefits from this by being
one of the worlds fastest growing
economies. But most African leaders
have overstayed in power. Some of
them have stayed to the point where
they looked unremovable: Omar
Bongo ruled Gabon for a recordbreaking 42 years and Hastings
Banda reigned over Malawi for 33
years as a self-proclaimed president
for life. Some were quickly ousted
by soldiers in one of the 90 military
coups that plagued the sub-Saharan
region since independence.
African would-be voters, however,
began to raise their voices. The
democratic reforms they
demanded and obtained in the
early and mid-1990s changed the
political landscape of the continent.
Multiparty elections for selecting the
executive - whether presidential or,
in parliamentary regimes, legislative
- became widely used. Zambia,
for example, introduced them in
1991 and has since held another
six electoral rounds. The likes of
Mozambique, Ethiopia and Benin had
a total of five; Cameroon and Chad
and others had four.
But did elections in Africa actually
represent a better chance for voters
to choose their leaders? Or were
they part of a democratic facade
introduced by self-perpetuating
authoritarian rulers, with no practical
effects?
Scepticism often prevails among
political analysts and public opinion
about national elections in Africa.
My
By Giovanni Carbone
Yet the numbers tell us that, at least to an

extent, leadership dynamics have truly begun
to change.
Before turning to numbers, however, it
is important to note that there are two
main ways in which elections can favour
leadership handovers. One is simply by
setting a deadline when an electoral mandate
formally expires. Moreover, many African
nations adopt constitutional limits on
the number of terms a sitting president
may serve - typically two, based on the
American model. This helps focus on the
fact that incumbent leaders may not be there
forever. Ruling parties would then prepare
for an internally-managed leadership
succession.
Thus, for instance, the Chama Cha Mapinduzi
party governed uninterruptedly in multiparty
Tanzania despite transferring power from
Ali Hassan Mwinyi to Benjamin Mkapa in
1995, to Jakaya Kikwete in 2005 and finally
to John Magufuli in 2015. Similarly, the
Frelimo party in Mozambique passed on
power from Joaquim Chissano to Armando
Guebuza in 2005, and then to Filipe Nyusi
in 2015. Elections helped plan and smooth
these transfers of power.
The second way in which elections can
favour power handovers is when opposition
candidates win office, whether by defeating
a sitting president or by winning an openseat election (that is, an election where
the incumbent is not running for office
again). This happened, for example, at
the time of the democratic transition in
Zambia (with the 1991ousting of Kenneth
Kaunda), in Madagascar (where Didier
Ratsiraka lost to Albert Zafy in 1992) and
in the Central African Republic (Ange-Flix
Patass defeated Andr Kolingba in 1993).
But it also occurred in polls other than
first or founding elections, such as when
opposition leader Abdoulaye Wade took
office in Senegal in 2000 (and again when
he lost the 2012 vote), when Mwai Kibaki
ended KANUs rule in Kenya in 2002, and,
last year, when Muhammadu Buhari seized
the Nigerian presidency from Goodluck
Jonathan.
Yes, we all know these familiar

examples. But just how frequently
did elections on the continent help
remove and replace sitting powerholders?
Most elections in Africa were secured
by incumbent leaders. In many cases,
these were autocrats holding power
from before the reforms of the 1990s,
who then vied for electoral mandates
often by manipulating the polls.
Incumbents, however, typically enjoy
important electoral advantages in
other parts of the world as well. For
example, while African sitting leaders
won 129 out of the 174 elections in
which they ran for office between
1990 and 2015, or about 74.1pc,
this was only marginally higher than
the US post-1945 experience: sitting
US presidents won eight of the eleven
contests (72.7pc) in which they
sought a second mandate. The three
that failed to do so were Gerald Ford,
Jimmy Carter and George H. W. Bush.
What is most interesting in Africa is
the significant rise in the frequency
of electoral successions and
alternations. Prior to 1990, subSaharan countries only registered six
electoral successions (that is, power
handovers between leaders belonging
to the same party) and three electoral
turnovers; Mauritius 1982, Sierra
Leone 1967 and Somalia 1967. In
the latter two cases, elected leaders
were subsequently ousted by soldiers
and multi-partism abolished. The
years after 1990 have seen as many
as 37 electoral successions and 40
alternations.
In the 2011-2015 period alone,
opposition candidates defeated
ruling parties and won control of the
government on nine occasions - from
the late Michael Sata in Zambia to
Macky Sall in Senegal; from Peter
Mutharika in Malawi to Muhammadu
Buhari in Nigeria. If this trend
continues over the next few years,
Africa will achieve a record number
of electoral turnovers in the space of
a single decade. Africas democratic
glass may be half empty, but it is
also half full.
Giovanni Carbone works at
ISPI and Universit degli Studi di
Milano.
policymaking. In articulating their fears, those

who harbour deep concerns over the conduct
of the high military brass running the Metal &
Engineering Corporation (MetEC) may borrow
one or two of his words.
Eisenhower famously said: In the councils
of government, we must guard against the
acquisition of unwarranted influence, whether
sought or unsought, by the military-industrial
complex. The potential for the disastrous rise of
misplaced power exists and will persist.
When a CEO of a state enterprise testifies before
Parliament over the alleged poor performance
of the MetEC in erecting sugar mills, it is
reasonable to believe that many of Eisenhowers
fears are coming true. That may, however,
be little more than a false alarm, as building
military-industrial complexes to enhance civilian
industrial production is normal - in countries
from Sweden to China and the United States to
Pakistan.
In the interest of healthy debate and constructive
outcome, the fear should rather be redirected
to a debate on the need to refocus the purpose,
and discipline the conduct, of the MetEC in order
to ensure it succeeds in its mission. Despite its
appearance, by design or otherwise, the MetEC
is essentially a civilian firm, as any state-owned
enterprise is, if scaled up by its legal statute.
Established with 10 billion Br in capital, it
was created as a hub for the nations factory
productions, with the strategic goal of guiding the
growth of small and medium sized enterprises in
the manufacturing sector.
For an underdeveloped economy, such as
Ethiopias, this goal remains valid today, although
the course the company took has been derailed
along the way. Inheriting nine industries under
the Ministry of Defence, and merging them
with over 60 stated-owned manufacturing
units, the MetEC today is not only one of the
largest employers, with a 13,000 workforce,
but it also generates billions of Birr in contracts
and businesses to third parties. Many of these
are taken from other public companies in the
absence of competitive bidding.
The company has become notorious in
its middleman business practice, whereby
individuals and companies are forced to procure
items only from its subsidiaries. A partner may
not be allowed, for instance, to buy transformers
from anyone but the MetEC, though it is obvious
that its value addition to their production is no
more than an assembly job. Its executives arm
twisting attempts to compel factories to install
power saving gadgets from the MetEC for a price
five times higher than what could be bought from
China is not a fair business practice.
The scandal over the issue of a vessel bought
from the state-owned shipping lines, which was
ultimately disposed of as scrap metal, serves as
a reminder of the MetECs ill-fated desire to be in
every corner of the economy. If their critics see in
the acquisition of property, ranging from hotels
to warehouses, the MetEC as a Good Samaritan
of the Ethiopian economic transformation, little
should it be surprising. The executives in uniform
should rather accept the fact that they are only
one player among many trying to put the pieces
together. It should not be their business to aspire
to reach the heights whereby they are too big and
indispensable to fail.
Neither should it be inconceivable to see the
MetEC going astray in a place where there are
loose safeguards from the civilian oversight,
and left alone when it becomes defocused
from its original mandate. Such would result
in a replay of the entrenched place the military
industrial complexes enjoy in the economies of
Egypt, Pakistan and Iran. With their model in
Khaki Capitalism, they are the embodiment of
Eisenhowers worst fears.
The MetECs critics should also come to terms
with the fact that the company is here to stay, and
it can be a force for good. Thus, refocusing their
energy to ensuring that the company stays true
to its purpose, urging its executives to remain
focused on where they can be most relevant and
demanding from the civilian oversight to tighten
the safeguards, would be a positive approach.
After all, it is men and women in Khaki who run
the show, with their discipline, of course.
P ag e 23
Call for Consultancy

Baseline Survey
INVITATION FOR EXPRESSION OF INTEREST FOR

WEB BASED PROJECT MANAGEMENT & CONTRACT
MANAGEMENT SYSTEM SOLUTIONS
Ethiopian Construction Design & Supervision Works Corporation (ECDSWCo),
would like to invite qualified, competent and interested bidders to participate
and submit their proposals on the Business Process Design, Process Based
System Development, and Implementation of Web Based Project Management
& Contract Management System for (ECDSEWCo).
The prospective bidders should have considerable experience and a
track record in Business Process Design Processes Based System Design,
Development and Implementation of related system for similar initiations.
The proposals of the bidders for the proposed systems shall support the
following but are not limited to:
Projects Information System (project Registration and updating project
profile)
Project Schedule Management (Milestone, Progress, Variation, Time Extension.. etc)
Project Resource Management
Project Closing Management
Contract Information System (Contract Registration, and updating contract profile)
Contract Parties Management (client contractors, subcontractors, suppliers, consultant professionals)
Contract Performance Management
Contract Monitoring
Contract Closing
Role Base Authentication & Authorization
Reporting
Real Time Projects and Contractors Dash Board
In addition designing, supplying, installing and commissioning of efficient
system, the vendor shall provide appropriate training to all users(as
appropriate) and follow up technical support to the concerned staff in the
project and contract management functions.
Interested bidders are expected to meet the following requirements that
enable them to participate in the bid:
1. The proposal for the Expression of Interest should be accompanied
with valid (renewed) business licence, VAT certificate, TIN certificates
and recent tax clearance
2. The experience in supplying and installation of similar system should
be supported with authorised documents.
Note:
I. The interested bidders can collect the RFP (EOI Form) from Business
Developments and Contract Management Office if ECDSWCo, located
at Bob-Marley Square, opposite Imperial Hotel during office hours for
free charge. Any bidder who needs further clarification /have question
regarding/ can forward his queries via e-mail Abiytse-2008@yahoo.
com.
II. Prospective bidders must submit their EOI and all relevant documents
before close of business day (COB) till 15th July, 2016, within wax sealed
envelopes, the technical proposals and Financial Offer prepared and
sealed separately.
III. The proposals shall be addressed to ECDSWCo, and submitted to ECDSWCo head office Business Development & Contract Management Process, 1st floor.
IV. EOI proposals received offer the closing date and time, telegraphic or
telephonic will not be considered.
V. ECWDSCo reserves the right to accept or reject any or all bids.
Ethiopian Construction Works Design & Supervision

Corporation (ECWDSCo) Bole Kifle Ketema Kebele 09, in
front of Imperial Hotel,
P.O. Box. 2561
Telephone 0116614501(0101)/0118965532
Addis Ababa, Ethiopia
Background:
WaterAid is an international Non-Governmental Organisation established in
1981. Its vision is a world where everyone, everywhere has access to safe water,
sanitation and hygiene and its mission is to transform lives by providing safe
water, sanitation and hygiene (WaSH). WaterAid works inpartnership with local
government to effectively contribute towards the achievement of its vision and
mission. WaterAid started its mission in Ethiopia in 1983 by financing small projects
through established organisations such as the Ethiopian Red Cross Society, but
opened its country office in 1991. So far, it has served more than 2.4 million
people with safe water, sanitation and hygiene.
Currently, DFID funded Burie Sustainable Integrated WaSH Program in Ethiopia
is to be executed in Burie Wereda of West Gojam Zone in partnership between
the Amhara Regional Government, WaterAid Ethiopia (WAE) and DFID. The
programme is implemented by WaterAid Programme office based inBurie
Wereda in collaboration with other stakeholders in line with programmatic
approach recently launched by WaterAid Ethiopia.Regional,Local government
and community are expected to play pivotal role towards the realisation of this
programme. The programme commences in April 2016 and stays up to March
2019.
Objective:
The overall objective of the survey is to develop a comprehensive baseline survey
report as per the objectives, outcomes, outputs and established milestones of the
programme which could serve as a bench mark for monitoring and evaluation of
the programme. In addition to conduct capacity need assessment of the WaSH
sector at wereda and town level.
Methodology:
The Consulting Firm is expected to come up with detail methodology and
approach, which clearly show how to handle the assignment (both qualitatively
and quantitatively) and the profile of the development team.
Deliverables:
Inception report;
Draft baseline and Capacity need assessment report;
Presentation on the Key findings;
Final baseline and Capacity need assessment report (hard copy and soft
copy).
Qualifications and Experience:
A consulting team having at least three experts is required for the baseline survey
and capacity need assessment. The team should be composed of a
water and sanitation engineer (MSc.);
Public Health expert (MSc) with Environmental health Background;
Social Sciences (Economics, Sociology) (MA);
Capacity need assessment specialist (MSc.) that have proven experience
in consultancy, especially in conducting baseline survey and capacity need
assessment of water supply and sanitation projects;
At least 8 years of related experience: knowledge of education and WASH
sector policies, strategies and programmes; experience in the scoter and
baseline report writing.
Timeframe:
The assignment is expected to take 35 days including document review,
development of data collection tools, field level data collection, training of
enumerators and report writing.
Technical and Financial Proposal:
Interested consultants who fulfil the above requirements should submit complete
and detailed work plan for the entire baseline study along with Curriculum Vitae
(CV), work experiences, renewed trade and/or professional licence and relevant
document with technical proposal and financial offer.
The bid must be submitted in one original, clearly marked "ORIGINAL" and one
copy also clearly marked "COPY". In the event of any discrepancy between them
the original will prevail. Bids must be submitted to WAE office on 04th July 2016
until 11:30am. And bids will be opened in the presence of bidders who prefer to
attend at our office on the same date at 02:00 pm.
Note: Interested applicants can get the full Terms of Reference from WAEs
front desk during Monday, 27 June Friday, 1 July 2016 preferably from 08:30
am 12:30 pm. and 01:30pm. 05:00pm.
Address: Tel: +251 11470 8031, Fax: +251 114708030,

P.O. Box 4812,Debre Zeit Street, around Gotera Express Road Bridge,
WaterAidEthiopia reserves the right to reject any or all of the bids.
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P ag e 26
Invitation for Inclusion in Pathfinder Internationals Roster of Vendors

Announcement No.31/2016
Pathfinder International/Ethiopia (PI/E) is a non-for-profit organisation dedicated to provide high quality sexual and reproductive health and family planning services that improve
the lives of women and their families in Ethiopia.
To help with the implementation of its IFHP and other donor funded programmes, Pathfinder procures goods and services on an ongoing basis and would thus like to update its
roster of reliable vendors from whom it would solicit pro forma invoices for open bid purchases.
The items and services that Pathfinder usually procures fall under the following major categories:
Goods: Services:
Printing (manuals, posters, banners, etc.)
Office Furniture
Operations Research work in health related work
IT and communications equipment
Assessments and Evaluation of Health Services
Medical equipment and supplies
Security guard service
Stationery supplies

Light duty, bus and truck rental
Sanitary/cleaning supplies
Air ticket and booking service
Vehicle Tyres and Inner tubes
Therefore interested national private and public enterprises/vendors that are in the
business of supplying/providing the above listed items and services are cordially
invited to provide us with the following information about their enterprises:
1. A copy of up to date Trading Licence
2. Tax Payer Identification Number
3. A copy of the VAT Registration Certificate
4. Complete business/store location and postal address, telephone/ fax numbers,
email, etc.
5. At least three testimonials from satisfied clients about reliability for
delivery on time and quality of materials and services offered, and
6. A list of the major categories of materials and/or services offered by the enterprise
and years of service in the same area of activity
Interested vendors/enterprises may submit their completed documentation as per
the list specified on or before July 1, 2016 before 4:00 pm for inclusion in the Vendor
Roster to be established by Pathfinder International Ethiopia. Please submit your
documents to the receptionist at the Office of IFHP/Pathfinder located behind the
South African Embassy in the old airport area or mail it to P.O. Box 12655, Addis
Ababa. For specific direction to the office you may call our office telephone number
which is: 011-320-3501
We thank you in advance for your participation.
AWASH INTERNATIONAL BANK S.C.
INVITATION TO BID
National Competitive Bidding (NCB)
Procurement Reference Number AIB 01/2016/17
1. Awash International Bank S.C. invites sealed bids from eligible bidders for the supply of Goods listed hereunder.
S.No
1
Description
LTO 5 Data Cartridge (1.5T) with bar
codes
2. Bidding will be conducted in accordance with the open tendering

procedures contained in the Directives of the Bank and other
Relevant Laws of the country, and is open to all eligible bidders.
3. A complete set of bidding documents in English shall be obtained
from Support Services Directorate of Awash International Bank S.c.
located at Awash Towers 10th floor room No 10-02 upon payment
of non refundable fee Birr 200.00 /Two Hundred/during office hours
(Monday to Friday 8:00am-12:00am; 1:00-4:30am and Saturday
8:00am-12:00pm) starting from June 20,2016 upon Presentation
of copy of renewed Trade licence, Certificate of registration,
Tax Clearance certification, VAT Registration Certificate and TIN
Registration Certificate.
4. Bid must be accompanied by a bid bond amount of birr 10,000.00
(Ten thousand) in the form of Bank Guarantee or Cashiers Payment
Unit of measurement
pcs
Quantity
360
Order (C.P.O).
5. Bid document must be deposited in the bid box prepared for this
purpose on or before July 7, 2016 10:00am at the above mentioned
address.
6. Bid opening shall be held at the office of Support Services Directorate,
Awash Tower 10th floor in the presence of bidders and/or their
representatives who wish to attend on July 7, 2016 10:30am.
7. Interested eligible bidders may obtain further information from the
office of Support Services Directorate Tel. 0115-57-11-07/00-84.
8. Failure to comply with any of the conditions from items 2 to 5 above
shall entail automatic rejection.
9. The Bank reserves the right to accept or reject the bid either partially
or fully.
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Arada
P ag e 27
By Girma Feyissa
The Scramble for the Youth
In the 19th century, European countries scrambled for

the riches and resources of Africa. Nowadays, there is
a new scramble - one which impacts the youth of our
nation and the future for all. Without due attention,
this scramble will lead us to a culture and reality
whereby are youth placed in danger at every turn.
Scramble for Youth

T
here was a time when European

countries came down to Africa to
quench their greed in the form of
power and resources. This quest
for more land and slaves at the beginning
of the 19th Century was referred to as the
'scramble for Africa'.
In recent times, however, this term has
been given a political upgrade, and is
being used to indicate the leasing of
large areas of virgin land to so-called
investors at rates even cheaper than
during colonial times. Be that as it may,
there are many political observers who
would venture into categorising the
vulnerability of young men and women
as the scramble for the youth.
In a very poor country like Ethiopia,
where the mainstay of the majority of
the population is rain-fed subsistence
agriculture, children are considered
as sources of additional farm labour.
Because of the poor healthcare
conditions, however, the child morbidity
rate is far higher than elsewhere.
As time went on, the share of land to
be tilled continued to be fragmented to
the extent of being scrambled over by
members of the same family. The same
land being shared among succeeding
generations had in many places reached
a point of maximum sustainability and
ceased to be productive. In fact, soil

degradation and soil erosion over the
years have turned the virgin land barren
and devoid of green vegetation. Thus,
reforestation has to be carried out as
soon as possible.
Unfortunately, however, the young
farmhand, who was once believed to be
an additional resource, has become a
redundant liability and a burden. Children,
as assets of alternative resource, are sent
to school, entailing their respective costs
on the income of each household. School
uniforms, books, stationery and all the
rest of it have to be covered.
The school
c o m m u n i t y,
as well as
parents, try
to mold the
developing
youngsters in
an effort to nib
their growth
while they are
still budding. It
is now the field
of modern
t e c h n o l o g y,
sports and
mobile phone
games that are
scrambling to carry away the attention

of the youth. As useful as the computer
is in providing information through the
Internet, these technological implements
are also being misused by youngsters.
Pornographic videos, for example, have
a negative impacts on the minds and
thoughts of youngsters, who spend hours
and hours watching such videos.
Sports, in general, and football in
particular are also among the profound
scramblers for the youth. Football
hooliganism, seen all over the world,
seems to now have entered the Ethiopian
Premier League, with supporters
developing a trend of violence.

Musical concerts and night clubs are
now coupled with the shadow markets
of hashish smoke and khat chewing,
again making the youth more vulnerable.
Youngsters seem to be emerged in the
engagement of the wrong concepts of
modernity.
They fall prey to human traffickers and
try to flee their country, either by sea
or land, at the cost of both their money
and dear lives. Migration, be it as asylum
seekers or in search of a better life, either
in Europe or the Middle East, seems to be
a reason for escape. The lack of jobs and
dependence on
their families for
employment after
graduation, under
the impact of
nepotism, causes
them to run
away. Hundreds
have lost their
lives in this way,
out of sheer
desperation.
Political parties,
including a
few from the
opposition, try
to recruit the
youth and use them as human shields,

making them vulnerable to all kinds of
struggles aimed at achieving a brighter
future. Another impact comes from
cajoling and fondling the opposite gender,
usually being carried away by physical
appearance. This is more often than not
translated into unceasing telephone calls,
under the narrative of love.
Another impact is a death dealing
engagement being faced by the youth.
Coming to Addis Abeba, or any other
major urban centre, after selling their
parents property like a pair of oxen, one
of the easiest ways of finding employment
is buy purchasing a driver's licence. These
are sold in the form of forged documents,
which enable one to hit the roads, even in
heavy-duty trucks.
The rate at which the number of vehicles
is increasing on the roads of Addis
Abeba is almost exponential. And hence
the intensity of traffic accidents, and
the consequential impacts this has, are
nowadays showing up at an incredible
rate. Thus Ethiopia, despite the low
number of vehicles on the streets, is now
among the highest in terms of traffic
accidents. If these are not scrambling
the lives of the youth, I will have to
apologise for the enormous use of the
term scramble.
CITY LIFE
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Implications of Tax Bill . . .

of Ethiopia and the commercial
banks. This provision does not
work in the Ethiopian context. On
both sides of the Atlantic, countries
have a credit facility known as a
discount window, which allows
eligible lending institutions to
borrow money from the central bank
to meet their temporary shortages of
liquidity.
A proclamation issued in 2008,
under Article 5(11), gives the
National Bank of Ethiopia (NBE)
the mandate in providing credit
facilities to banks. However, there
are no such facilities for commercial
banks to date. In fact, there is the
interbank loan where a commercial
bank borrows from another bank.
It is recommendable to reconsider
the provisions of Article 23(2) in
the context of the existing financial
architecture of the country.
The draft law attempts to address
the ambiguities in the taxation of
dividend, a case that has taken many
companies by storm after requested
to pay tax on undistributed after-tax
income or dividends. It seems that
the draft law draws a lesson from
that experience and addresses the
taxation of dividend, including on
retained earning tax, otherwise
known as constructive dividend.
Currently, the retained earnings
are subject to dividend tax if not
capitalised (through issuance of new
shares or increasing the par value
evidenced by meeting Minutes) and

if the company is not qualified for
exemption. The draft law fails to
clearly address the tax treatment
of retained earning not capitalised
(simply retained and dividend tax is
paid) and later redistributed to the
shareholders. Such redistribution
should be exempted from dividend
tax to avoid double taxation. The
law, in its Article 2(6) and the
would-be directive mentioned in
the Article 2(6)(d), should clearly
address the tax treatment of the
distribution of retained earnings.
It is a universal principle that tax
laws must be written in such a way

that they are easy to understand and
be complied with. The team involved
in the development of the draft must
be appreciated. They have done
a wonderful job making surgical
changes. However, there are some
typos, and some limitations in the
structure of the draft laws. That is
evident when words and phrases
(Article Two of both draft laws)
are listed randomly, requiring the
reader to ramble around the related
definitions. It is always good to
list similar and related words and
phrases together so that the flow
Brexits Impact . . .
to the breakdown of traditional

political allegiances and dominant
two-party systems.
Statistical theory even allows
us to quantify how expectations
about the US presidential election
should shift if Brexit wins in
Britain. Suppose, for the sake of
simplicity, that we start by giving
equal credibility to opinion polls
showing Brexit and Trump with
almost 50pc support and expert
opinions, which gave them only
a 25pc chance. Now suppose that
Brexit wins. A statistical formula
called Bayes theorem then shows
that belief in opinion polls would
increase from 50pc to 67pc, while
the credibility of expert opinion

would fall from 50pc to 33oc.
This leads to the third, and most
worrying, implication of the British
vote. If Brexit wins in a country as
stable and politically phlegmatic
as Britain, financial markets and
businesses around the world will
be shaken out of their complacency
about populist insurgencies in the
rest of Europe and the US. These
heightened market concerns will,
in turn, change economic reality.
As in 2008, financial markets will
amplify economic anxiety, breeding
more anti-establishment anger and
fueling still-higher expectations of
political revolt.
will be coherent. Furthermore, the

tax tables left some amounts untaxed
under each bracket (phrases like
in excess of . . . not exceeding
are commonly used to set cut-off
points). Some closing words in
articles also sound more like policy
statements or recommendations
than like legal provisions.
Interestingly, what dominates the
social media following the release
of the draft income tax law is the
tax rates on employment income.
There has been a huge expectation
that the rates and the brackets
would reduce the tax burden on
The threat of such contagion

means a Brexit vote could be
the catalyst for another global
crisis. This time, however, the
workers who lose their jobs, the
pensioners who lose their savings,
and the homeowners who are
trapped in negative equity will not
be able to blame the bankers.
Those who vote for populist
upheavals will have no one but
themselves to blame when their
revolutions go wrong.
Anatole

Kaletsky is Chief
Economist and Co-Chairman of
Gavekal Dragonomics and the
author of Capitalism 4.0, The
Birth of a New Economy.
low-earners. The problem arises

from the fact that, unlike many
countries, our personal income tax
structure is not inflation-indexed
and not adjusted periodically in
line with inflation rate. Those who
earn income from employment were
the hardest hit between 2002-2014,
when the annual inflation rate in the
country averaged 15pc, according to
the World Bank.
As a person who frequently travels
to Europe, especially to The
Netherlands where the maximum
personal income tax rate is above
50pc, I support the notion that tax
should play its role of ensuring
equity and fair redistribution of
income. Like anywhere in the world,
our reward system in the labour
market is not fair and merit-based
which at times creates frustration
and despair. It is obvious that the
revision of the tax brackets will
affect the governments coffers;
but it should also be noted that
the existing tax structure, given the
double-digit inflation rates over the
years, has tested many.
Designing a tax law is not a simple
exercise. As Jean-Baptiste Colbert,
the 15th Century French Finance
Minister, once said, The art of
taxation consists in so plucking
the goose as to obtain the largest
amount of feathers with the least
possible amount of hissing. It
seems that those who are dissatisfied
with the proposed personal tax rates
have started to squeak even before
their feathers get plucked in the
new round.
A n n o u n c e m e n t
..

..
167 ..

5.5 22 ..
12.2

1.
2. /Bank Guarantee /

3. 75 3
1
4.
6

5.

6.
(VAT) (Tin)
(TOR) 1

.
9
.. 2586
251 118278498 Email : Mulugeta.adane@zebsc.com
P ag e 31
British International School Plc

Sheriff Building, Bole Ring Road,
Tell 011-663-0707/08/10 P.O BOX 5583
Fax: 011-661-4098
..

AIB 02/2016/17
1. ..
12
2.

3. /BID BOND/ 5,000.00 ( )

4. 14 2008 . -
200-600 700-1030 200-600
.. 10
10-02 50.00//
5. 30 2008 .
400 4

6. 30 2008 . 500
10

7. 1-5
8. 0115-57-11-07 0115-57-00-84
9.
..

AMBASSADE DE FRANCE EN THIOPIE

ET AUPRES DE LUNION AFRICAINE
Civil Societies Innovative Projects and Coalition of Actors
Call for Proposals summer 2016
The Embassy of France has introduced its new grant program called Civil
Societies Innovative projects and Coalition of Actors (PISCCA) which is the
successor of the Social Development Fund (SDF) to support small scale projects
initiated by local resident NGOs and authorities.
The main objectives of this fund are to support local initiatives in Ethiopia in
the field of development/alleviating poverty.
Applicants to this Fund must be Ethiopian resident NGOs or local authorities.
These organisations must already exist for at least 12 months and registered
by the Ethiopian authorities.
The maximum amount of the subsidy is 45 000 Euros and the applicants must be
able to provide at least 30% of the total amount of the project with a minimum
of 10% of financial participation.
How to apply?
To apply, please fill in the Concept Note Form and send it back in soft copy duly
completed before Monday June 26th, 2016, before midnight.
The concept note should be addressed to the following address: piscca.
ethiopia@gmail.com.
The concept note template and the guideline on this call for applications are
available on the French Embassy website (http://www.ambafrance-et.org/
Civil-Societies-Innovative-projects-and-Coalition-of-Actors-PISCCA) and also at
the main gate of the French Embassy in hard copy or you can submit a request
to the project officer Mrs. Bethel Zemedkun through this email address bethel.
zemedkun@diplomatie.gouv.fr / Tel: 0111400053.
For any other inquiries, you shall also contact Mrs. Bethel Zemedkun.
Please, read carefully the guideline before submitting any document.
British International School is looking for expertise to be employed now

and in the near future. A good standard of English is essential. We invite
appropriately qualified and experienced Expats to apply for the following
teaching posts.
Job Title
English
Teacher for
key stage 1
&2
Education
B.Ed. in English
Language and
Literature
Chemistry,
Biology
and Physics
teacher for
key stage 3,
4 & 5.
B.Ed. in Chemistry,
Biology and Physics
Minimum Experience Required

3 year's of teaching experience
overseas preferably experience with
UK curriculum.
Teaching training qualification.
(City & Guilds or CertEd or other)
3 years of teaching experience
overseas preferably experience with
UK curriculum.
Applications can be sent by post to P.O.BOX 5583, emailed to jobsatbisaddis@gmail.

com, or delivered by hand to Bole Campus of the British International School before
10th July, 2016.
Member of Association of International Schools in Africa
Accredited by the Ethiopian Ministry of Education
China National Complant Plant Import & Export Corporation (Group)
(hereinafter refrred to as COMPLANT) was established in1959, and now is a
wholly-owned subsidiary of State Development and Investment Corporation
(SDIC). COMPLANTs core business includes: international cooperation
(including, China-aided foreign projects, International project contracting,
labour service complete plant export and related business; Offshore
investment in and leasingoperation of overseas sugar industry business
chain); international market exploration and investment under the guideline
of China development strategy
1.Job Title- Accountant
Required No.two
Qualification- BA degree and above in Accounting
Work experience- above one year of relevant finance work experience
Basic skills-Peachtree Accounting software and Microsoft Office application
Language- Excellent written and verbal communication skills in English
Terms of Employment Permanent
Duty Station- Addis Ababa
Salary- Negotiable
Contact: +251 911561154
+251 936010961
Email: huyuanzheng@complant-ltd.com
Address to submit the CV: Kaleb Building new office 5th,floor ,Kality
Gumuruk, Kality little railway station
Complant Ethiopia Branch financial office
Address of interview office : The opposite of Kality Kustoms Office ,next
to Awash Tannery Factory
COMPLANT NATIONAL COMPLETE PLANT IMPORT & EXPORT CORPORATION
(ETHIOPIA BRANCH)
P ag e 32
///
TRUST PROTECTION AND PERSONNEL SERVICES PLC
Job Title: Personal Assistant
Education: BA Degree or MA degree in Economics, History, Philosophy,
Social Science. One of those four(4) majors is fine.
Experience: 1 or 2 years of relevant experience is an advantage.
Requirements:
Communication & Interpersonal Skills
Fluent Spoken & written English
Ability to coordinate subordinates
Basic Computer Application skills
Salary: Negotiable
Interested applicants who meet the requirements shall send application
letter, CV and non-returnable copy of other supporting documents within
ten days from the first date of announcement to the following address.
Address: Bole Road, Friendship City Center,

5th Floor, Room no. 504
Contact number: +251-913-326820
Email: tihutg@yahoo.com
Trust Protection and Personnel Services Plc invites competent applicants
for the following position
Job Title:- Supervisor I, General Accounts & Cash Management
Educational Background:- B.A Degree in Accounting
Work Experience:- 6 years of relevant experience
Special Skill & Knowledge: Full knowledge of Peachtree Accounting
Terms of employment:-Permanent
Salary:- as per the company Scale
Required No: 1
Place of work: - Head Office/Addis Ababa.
Interested applicants who fulfils the above requirements can submit their
application with CVs and photocopies of testimonials within 7 days of this
advertisement directly or through the post Office.
Trust Protection and Personnel Services Plc

Mechare Meda, Near Sar Betoch
Subcity: Nefas silk Lafto, Wereda 03
P.O. Box 10 Code 1027
Addis Ababa
Dashen Bank S.C. is pleased to announce the following vacancy.
Job Title:Manager, Customer Service
Place of Work: Teppi
Required Candidate:One
Salary: As per the attractive salary scale and benefit packages of the Bank
Required Qualification
MA/BA Degree in Accounting/Management/Economics/ related fields
Professional Experience
Relevant experience of 5 years for MA holders & 7 years for BA Degree
holders
Job Summary
The Customer Service Manager plans, coordinates and supervises the
activities of the units of the Branch. He/she sets marketing targets and
ensuring that they are met, crafts and implements strategies to expand
business opportunities, proactively assesses the existing market and
prevailing service demand, sells the Banks e-banking services, orients
DB/Vacancy- 029/16
customers on how to operate same and provides clarifications or

elaborations about the products, ensures that customers are properly
and efficiently served to enable the Branch conduct aggressive deposit
mobilisation and build its public image, ensures that international money
transfer and foreign exchange services are delivered at the Branch.,
attracting new customers & retaining existing ones to ensure sustained
profitability of the Bank.
Other requirements
Computer Literacy
Banking experience is advantageous
Interested and Competent applicants fulfilling the above requirements
are invited to send or submit in person their application, CV and nonreturnable photocopies of supporting credentials with original documents
of the required credentials until June 28, 2016 to Dashen Bank Human
Resources Management Department located at Dashen Bank Nefas Silk
Branch Building first floor adjacent to Saris, Nefas Silk paint factory. Only
short-listed applicants will be contacted.
To: THE MANAGER-HUMAN RESOURCES MANAGEMENT DEPT.

DASHEN BANK
P.O. Box 12752
Addis Ababa
Airport's Duty Free

Shop Conflict Reaches
Cassation Court
The Cassation Bench has issued an
injunction order on a tender process
by the Ethiopian Airport Enterprise
(EAE) to transfer nine duty-free
shops on a concessional basis after
an appeal by a bidder who lost the
chance of winning the shops. The
shops are located in Terminal Two of
Bole International Airport.
Country Trading Plc, an importer and
wholesaler, was awarded the shops
after it made an offer of the highest
price back in January 2016.
However, it failed to take the award
upon the notification of EAE, following
which the Enterprise blacklisted the
company and suspended it from
competing in any of its tenders for
six months.
It was then that the company took
the matter to court. After a back
and forth process at the High Court,
the Enterprise got the go-ahead to
proceed with its tender process. The
same decision was also granted by the
Supreme Court.
A week ago EAE intended to conduct
a second round of bidding, which
was announced on May 31, 2016.
Country Trading again fought back
and secured an injunction till EAE
appears at the Cassation Bench and
will respond in a few weeks.
A bajaj passing by a parked Anbessa City Bus waiting for passengers in the city of Sebeta, founded in 1942. The
city is famous for The Sebeta School for the Blind, which became part of the Haile Selassie I Foundation in 1959,
and construction of a new building began on October 4, 1962. In 1967 the Ethiopian Institute of Agricultural
Research opened a research station in Sebeta, which operates as the national centre for research on improving
fishing yields. Most of the residents use these small bajajs.
The Pharmaceuticals Fund & Supply Agency

(PFSA) has procured a 4.2 billion Br worth
of medical supplies and equipment and
secured an additional 4.7 billion Br worth
in kind from development partners.
Of this quantity the Agency has managed to
distribute supplies to the value of 8.6 billion
Br, with 6.9 billion Br worth dedicated to
HIV and AIDS prevention programmes,
malaria, family planning, tuberculosis and
other related diseases.
Vaccines are also among the supplies
distributed. Over the last nine months, the
Agency has managed to distribute anthrax
vaccines to a targeted population of 17
million, five million vaccines for measles
and one million inactivated polio vaccines
(IPV).
During the last Auditor General's
report, PFSA came under scrutiny for
mismanagement of purchased medicines.
It was also criticised for storing expired
drugs with those that were not.
Parliament
Approves Renewed
Extradition Treaty
BARGAIN PRICE
In Oromia Region, 542 individual

farmers whose land was taken for
sugar development of Arjo Dedessa
have lodged a complaint with the
Institution of the Ombudsman
over delayed compensation or a
replacement plot for their land
that was taken in the name of
redevelopment.
Among these people, 66 farmers live
in East Wellega while the rest are in
Illubabor Zone.
The Institution of the Ombudsman
was established as an autonomous
organ of the Federal Government in
2000. One of its powers is to receive
and investigate complaints in respect
of maladministration.
Of these farmers whose land was
taken, 161 of them did not get a
replacement plot of land, 23 received
no compensation and 358 people
received neither compensation
nor a replacement plot from the
government, the report underscored.
Lack of collaboration between
the Sugar Corporation and
other concerned institutions,
poor awareness creation, errors
in reckoning the compensation
payment and the absence of study
and organisation before the land was
taken are the major reason for this
kind of problem, the report added.
In the current fiscal year, nine
million of the total 14 million Br
compensation payment went to Arjo
Dedesa Sugar Development Project,
located on a 28,000ha plot of land
540Km from Addis Abeba and which
has the capacity of crushing 8,000tn
of cane per day.
P ag e 33
Dev't Partners
Dominate Medical
Supplies' Provision
CONTRAST
With garlic fetching a high price on the market, this woman negotiates with a vendor on the streets of Addis.
Carrying garlic and selling garlic on the city's streets, including residential neighbourhoods, is a tradition
that has been practised for a long time. Most of the sellers are farmers from the outskirts of the city and
from neighbouring towns. Garlic is used mostly to enhance the taste of the daily wet or stew. It is said to have
extraordinary health benefits.
JOB MART
Last week, Parliament approved the

Extradition Treaty signed between Ethiopia
and Sudan four year ago. The new treaty
has replaced the 1964 treaty signed
between the two parties concerning
extradition, the term that describes the
transfer of an accused criminal from one
country to another.
An offense is extraditable if punishable
under the laws of both contracting parties
by imprisonment for at least one year.
Extradition is granted for an extraditable
offense regardless of where the act or acts
constituting the offense were committed.
However, extradition shall not be granted
for a political offense, according to the
treaty.
Drug trafficking, terrorism and
international crimes shall not be
considered political offenses. The Federal
Attorney General's Office is the organ
empowered to implement the agreement.
In the modern era, the first treaty
signed between Ethiopia and the not
yet independent Sudan was in the early
20th century. The countries formally
established their relationship in 1959,
following Sudan's independence in 1956.
Salini Impregilo to
Construct Dam in Omo
River
Sugar Corporation's
Snags Delays
Compensation,
Replacement
R a d a r
An advertisement board that is used to post new vacancies under the pedestrian bridge around Arat Kilo is a
usual spot for job seekers, among them, young university graduates. In a country where the unemployment rate
is high and new graduates join the job market annually, balancing the gap is a daunting task. New university
graduates spend their time not only looking at this board but also sitting on the sidewalks reading newspapers
in their quest to find jobs.
Salini Impregilo, has been awarded a 2.5

billion pound project by Ethiopian Electric
Power to build a hydroelectric power dam
which will have an installed capacity of
2,200MW.
The new Koysha Hydropower Dam on the
Omo River will generate an estimated 6.4
million MWH of electricity annually.
Last year, the company completed a
1.6 billion dollar project of GIBE II
hydroelectric power. Salini Impregilo
Group founded in 2014 after the merger
of Salini and Impregilo.
The total amount of electric power
generated in 2014/15 was about 9.5 billion
MWH, showing a 9.4pc annual growth
compared to the preceding fiscal year.
Only five per cent of 45,000MW the
countrys hydropower exploitable reserve
has been exploited, while the per capita
electricity consumption of the country is
105kWh per year.
The EEP estimates that the energy sector
could cost the country 25 billion dollars
by 2020.
P ag e 34
Background
The Entrepreneurship Development Center (EDC) is looking for competent personnel to
fill up the following vacant positions. EDC is a quasi-government institution, established
by the ministry of Urban Development and Housing and the Federal Micro and Small
Enterprises Development Agency (FeMSEDA), in partnership with the United Nations
Development Programme (UNDP) Ethiopia, in February 2013. The programme aims
to foster the emergence of a robust competitive private sector with focus on micro
and small scale enterprises. EDC has its headquarters in Addis Ababa and regional
coordination offices in Oromia (Bishoftu), Amhara (Bahir Dar), SNNPRS (Hawassa),
and Tigray (Mekelle).
EDC is looking for qualified personnel for the following posts for its Headquarters
based in Addis Ababa.
1.Finance Officer
Duty Station - EDC Headquarters Addis Ababa
Description of Responsibilities:
Prepare and update the project financial procedures manual that will ensure
compliance with accounting policies and practices as stipulated in the
Implementation manual of UN Assisted Programme for Project Implementation
and financial management regulations/ procedures agreed for the project;
Establish and maintain an integrated accounting system for all approved project
activities to ensure smooth flow and constant availability of financial resources
to the project and utilising standard accounting procedures, which will ensure
full documentation and recording of sources and uses of funds;
Prepare annual work plans and budget in consultation with the CEO;
Prepare, analyse and consolidate reports from Regions in accordance with agreed
reporting schedules ensuring correlation between implementation progress and
financial performance;
Prepare project financial reports and funds request application for the
replenishment of Designated Account, for submission to FEMSEDA;
Maintain all accounting records and relevant books of account in line with
approved accounting standards and Government regulations;
Ensure prompt release of funds, once approved for project activities;
Ensure that all accounting records are updated regularly;
Ensure invoices submitted for payment are promptly attended to and processed;
Prepare monthly bank reconciliations of all project accounts;
Issue receipts, prepare payment vouchers and maintain cash records in accordance
with accounting procedures;
Manage the petty cash float and maintain petty cash book, ensuring that petty
cash disbursements are appropriately and adequately documented;
Liaise with external auditors and follow up on audit queries and recommendations
in management letters;
Prepare periodic reports (monthly, quarterly and annually) in the formats
approved by EDC;
Any other duties assigned by the CEO and other tasks as the job role may demand
from time to time
Management and Leadership
Builds strong relationships with clients, focuses on impact and result for the client
and responds positively to feedback.
Consistently approaches work with energy and a positive, constructive attitude
Demonstrates good oral and written communication skills
Demonstrates openness to change and ability to manage complexities
Educational Qualifications:
B.A Degree in Accounting, Business Administration or Finance;
A very good knowledge of Microsoft Office applications, particularly Word and
Excel, and good presentation skills and use of computerized accounting system.
Experience:
Minimum of 6 years of experience in a complex environment and donor funded
project accounts.
Knowledge of international financial reporting standards and international
standards of auditing
Experience in interpreting financial management reports, analysing variations to
plans and determining remedial actions required;
Knowledge of public sector accounting procedures and operational knowledge
international and country financial and accounting management practices,
including MIS applications;
Ability to advise and disseminate financial management knowledge, supervisory
skills and capacity to be a member of a multidisciplinary team to provide advice
and recommend actions;
Experience and familiarity with UN Agencies programme Implementation and
reporting requirements, disbursement procedures, submission of withdrawal
applications and the maintenance of Designated Accounts;
Excellent technical and conceptual knowledge about financial management and
grasp of financial principles and practices.

Audit experience would be an advantage;
Language:
Good command of written and oral English and Amharic languages.
Salary:
Negotiable
Management Arrangement
Under the direct supervision of and reporting to the CEO, the incumbent will work
closely with program managers and other authorized EDC personnel.
2. Programme Assistant
Duty Station - EDC Headquarters Addis Ababa
Duties and Responsibilities
The specific duties of the Training Programme Assistant will include the following but
not limited to:
Assists in the dispatching and in the timely arrival of training materials to the
training sites.
Assists in the identification and procurement of efficient training venue for desired
training programs.
Provides effective administrative support to ensure smooth operations of BDS
and Training programmes.
Manages the calendar of Programme Managers, contacts with visitors and staff,
arrange appointments and meetings, and take minutes when required.
Follows up on deadlines, commitments made, actions taken and coordination of
collection and submission of the reports to the Training Manager.
Updates the list of stakeholders and their contacts and establish effective
communication with all stakeholders.
Arranges travel and hotel reservations for international consultants (when
required).
Custodian for management of stationery supplies, books, certificates, and other
items needed for the programmes and provide update on the status of stored
items including type, amount, pipelines if requested;
Reviews of trainers and travel authorisations, documentation, and follow up on
payments.
Assists in the summarisation of local consultants working days and professional
fee and follow up on the timely payment of professional fee and DSA.
Follows up with lead trainers to make sure that all training related documentations
are submitted to the appropriate offices including trainers evaluation forms
(participants evaluation, lead trainers evaluation, and peer evaluations).
Analyses local consultants performance evaluation and generate report on
quarterly and yearly bases.
Organises training and BDS data on a monthly, quarterly, and yearly bases for the
preparation of periodic reports to training and BDS departments.
Liaises with admin assistant to arrange vehicle transportation for BDS and Training
programmes activities.
Maintains programmes related filing system ensuring safekeeping of confidential
materials.
Maintains the profiles of training participants and process the printing of
certificate for participants.
Assists in the coordination of group and one-on-one BDS support activities in
Addis Ababa.
Assists in the establishment and controlling of budgets for training and BDS
activities.
Identifies and maintains a roster of advisors and trainers in Addis Ababa.
Assists in monitoring BDS activity in Addis Ababa and collecting success stories.
Assists in preparing quarterly and annual BDS reports for Addis Ababa.
Assists in reviewing monthly BDS advisor reports in Addis Ababa.
Assists in analyzing BDS advisors performance evaluation and generate reports
on quarterly and yearly bases.
Maintains profiles of trainees and BDS clients in Addis Ababa.
Undertakes additional tasks assigned to him/her by programme managers.
The Training Programme Assistant will work under the direct supervision and guidance
of the Training Manager. The incumbent shall also works in close collaboration with
other EDC staff to resolve administrative related issues and relevant information
delivery.
Required Qualifications
Education:
Diploma in Secretarial Sciences and Office Administration, Accounting,
Management, Business Administration, and other related fields. University Degree in
related fields will be an advantage.
Experience:
At least 5-years work experience relevant to this assignment.
Prior experience on project related administrative work is preferred.
Skills and knowledge:
Strong analytical skills;
Strong interpersonal skills;
Strong organisational skills and attention to detail;
Experienced administrative professional who is reliable, highly organised and has
a positive attitude;
Self-starter who can work independently;
Skilled in establishing priorities and managing workload;
Ability to follow instructions;
Previous experience in office setting required;
Technologically literate with basic computer skills;
Good organisation skills and record keeping (attention to detail is critical).
Language
Good oral and written communication skills of English and Amharic languages.
Salary:
Negotiable
3. IT OFFICER
Duty Station: EDC Headquarters Addis Ababa
Provides database administration and support for EDC headquarters in Addis Ababa
and the regional coordination offices.
Deploys, administers and maintains a resilient storage area network infrastructure
that includes storage arrays, fiber channel switches and host bus adapters.
Periodically updates EDC websites by uploading documents, news, graphics, and
all other information submitted by program units.
Administers EDC social media outlets.
Assists in procurement including needed assessments and benchmarks, preparing
technical specifications and evaluation criteria; prepares, updates and maintains
system's documentation and related technical/procedural manuals; keep abreast
of the latest developments in ICT field
Ensures that day-to-day administrative activities are undertaken to maintain
databases in a fully operational and stable state while undertaking system
monitoring and tuning to ensure optimum performance.
Provides the full range of services in administering, operating and maintaining the
central backup system, which includes backup tape library, disk library, backup
servers, server software and backup client for archive and restoration.
Provides full range of technical assistance and team supervision in the area of
desktop standard image preparation for several desktop hardware types.
Applies software upgrades and patches to the headquarters and the regional
coordination offices and to server operating systems and databases.
Reviews and maintains efficient and effective database backup procedures to
enable the provision of successful and accurate backups so that any data can be
restored quickly and efficiently.
Maintains adequate security of data by implementing, monitoring and auditing
appropriate security policies.
Manages IT related problems escalated to third-party suppliers/providers.
Actively contributes and participates in all disaster recovery processes.
Installs and configures computer hardware, software, systems, networks, printers
and scanners.
Provides the full range of support for centralised management of licences for
different operating systems and packages.
Plans and undertakes scheduled maintenance upgrades.
Ensures Data Centre cabling is installed, structured, and organized properly for data,
voice, and video communication networks using industry best practices for cable
management. Monitors and controls environmental aspects of all EDC Data Centers.
Provides technical guidance for EDC staff on uses of servers, application, storage and
network management and monitoring tools. Provide relevant training programmes
for staff
Checks computer equipment for electrical safety.
Provides assistance to users during and after the conversion, implementation or
installation of new systems; troubleshoots software related personal computer
problems for users via help desk environment;
Provides network operational support to ensure availability of internet and intranet,
e-mail, security, virus protection, remote access, software distribution, file and
print services
Evaluates, install, configure, and audit security products for a variety of applications
and/or operating systems
Prepares problem-analysis reports, resources utilisation data, suggests measures
for system efficiency maximisation and provides recommendations and reports
for management review;
Manages the efficient utilisation of EDC Innovation Room by developing and
enforcing utilisation guidelines
P ag e 35
Performs other duties as required.

Under the direct supervision of and reporting to the Monitoring and Evaluation Specialist,
and general direction of the CEO, the IT Officer will work closely with programme
managers and other authorised EDC personnel.
Education: University degree in IT, Computer Science, Business Information System
and other related fields. Professional certification in database management, computer
networking, and other IT related solutions is an added advantage.
Experience
At least 2-years work experience relevant to this assignment.
Prior experience on project related administrative work is preferred.
Knowledge of entrepreneurship development programme is an added advantage.
Competencies
Knowledge of information technology/information management particularly in
administration, management and support of enterprise storage, enterprise backup,
and database management system.
Strong analytical and problem-solving skills, including proficiency in building,
configuring and implementing networking solutions.
Knowledge of organisation's information infrastructure and IT strategy as it relates
to ICT;
An understanding of the function of the position within its organisational context,
including relevant policies, regulations and precedents.
Shows pride in work and in achievements;
demonstrates professional competence and mastery of subject matter;
is conscientious and efficient in meeting commitments,
observes deadlines and achieving results
Keeps abreast of available technology; understands applicability and limitation of
technology to the work of the office
Works collaboratively with colleagues to achieve organizational goals; solicits input
by genuinely valuing others' ideas and expertise; is willing to learn from others;
and places team agenda before personal agenda.
Language: Good oral and written communication skills of English and Amharic languages.
Salary:
Negotiable
Assessment: Evaluation of qualified applicants may include an assessment exercise which
may be followed by a competency-based interview.
4. FRONT DESK RECEPTIONIST
Duty Station: EDC Headquarters Addis Ababa
The front desk receptionist will support in facilitating the centers activity in answering
incoming calls, greeting and guiding guests and other related tasks as assigned
Answer telephone calls, screen and direct calls
Receive and relay messages
Greet guests entering into the office and direct them accordingly
Deal with queries from the public and customers
Ensure knowledge of staff movements in and out of organisation
Monitor visitor access and maintain security awareness
Receive and sort mail and deliveries
Maintain a clean and presentable reception area
Knowledge and Education
A minimum of Diploma in Secretarial Science and Office Management, Marketing
and other related fields.
Knowledge of administrative and clerical procedures
Knowledge of computers and relevant software application
Knowledge of customer service principles and practices
Keyboard skills
Ability to work a switchboard
Key Competencies
Verbal and written communication skills; professional personal presentation;
customer service orientation; information management; organizing and planning;
attention to detail; taking initiative; reliability and ability to work under pressure.
Management Arrangement: Under the direct supervision of and reporting to the
Administrative Assistant, the incumbent will work closely with other authorised EDC
personnel.
Language: Good oral and written communication skills of English and Amharic
Salary:
Negotiable
How to apply:
Candidates meeting the above qualifications are requested to send their updated CVs,
copies of their educational background, and cover letter to: genidesta@gmail.com or
submit the documents in person to EDC Headquarters, Nega City Mall, 3rd floor, Josef
Tito Street, Casanchis, Addis Ababa within ten consecutive working days from the first
day this advertisement is announced on this newspaper.
P ag e 36
Construction Contractors Association of Ethiopia (CCAE)

Request for Proposals for Training Delivering and Evaluation Services
Released Date: June 19, 2016

Responses Due: June 28, 2016
Technical Proposal Submission: June 28, 2016 at 3pm

Technical Proposal Opening: June 28, 2016 at 3:30pm
About Construction Contractors Association of Ethiopia (CCAE)
Construction Contractors Association of Ethiopia (CCAE) was established on October 28,

1991 to protect the contractors (main actors of the construction industry) from obstacles
facing them and to help them play their appropriate role in the development of the
construction industry. First the Association had a few members and leaders. However,
following the growth of the construction industry in the country, the number of members
of the Association is more than one thousand five hundred (1,500) as the activities of
Association are expanded and enhanced continuously to maintain its establishment and
as it is playing a pivotal role in the countrys construction industry development.
General Information for Proposers
1. Bid Process
The purpose of this bid is to identify potential trainers to provide services described in
STATEMENT OF NEED and SCOPE OF WORK below. This notice is forwarded for
information and invitation only and is not to be construed as a contract, or as a
commitment to contract.
2. Statement of Need
The purpose of this invitation to bid is to solicit proposals from qualified training
providers who have the capacity to develop and deliver training for the identified
training topics after need assessment is made from members. This training must be
designed to support the development of the skills and knowledge of the contracting
firm owners and their professional competentce in strengthening their standard of
service in the construction industry.
3. Scope of Work
The selected proposer will develop and conduct a comprehensive and innovative
training delivery and will undertake pre and post evaluation programme for the
contracting firm that will advance the skills and knowledge of the owners and their
employee professionals. The scope of work is but not limited to be;
A. The proposer selected will deliver the following training and undertake pre and post
evaluation independently for the following selected seven (7) topics in the priority
of the need assessment made from CCAE members:
Note that: Proposer may propose to one or more topics listed below.
1. Construction Company Management
2. Construction Contract Administration
3. Construction Project Site Management
4. Leadership and Business Management
5. Tax Law
6. Construction Planning Software such as MS Project, Primavera, etc
7. Construction Code of Ethics
B. The proposer shall specifically tailor the training session for the proposed training
topic for member of CCAE. The CCAE Board of Directors has the right of final approval
with respect to each training session to be covered.
C. The proposer must put forward the training session to be covered but not limited to;
the course description, duration, what will learn and the expected outcome.
D. CCAE will handle the logistics of arranging a room to conduct the training programme
and thereafter shall pay for all costs incurred in connection with conducting the proposed
training, including, but limited to, training room(s) and tea break refreshment.
4. Duration and time of the training session
4.1. Duration: twelve half (12) days for each topic but three half days for Construction
Code of Ethics
4.2. Time: for all topics from 9am to 1pm
5. Instructions on Bid Submission
Proposers may submit their proposals via hardcopy and will be accepted through
June 28, 2016 during office hours. Hardcopy proposals may be delivered in person
and must include one original and one copy of the completed technical and financial
proposal in separate sealed envelope. Any differences between the original, copies,
and, a CD are at the liability of the bidder:
Construction Contractors Association of Ethiopia (CCAE)
Attn: Service Co-Chair, Board of Directors
Tel: +251 115 52 46 95
Email: ccae2002@gmail.com
Office: Around Urael Church near Bambis Supermarket at Hailegebriel Building,3rd
floor.
6. Right To Reject
CCAE reserves the right to reject any or all proposals or any part of same received as
a result of this bid request, or to negotiate separately with competing proposers to
award a contract(s) other than to the lowest bid, and to use the accepted bid as the
basis and point of departure for final contract negotiations; to waive irregularities
and/or informalities; and to make any decisions which CCAE deems to be in its own
best interest.
Construction Contractors Association of Ethiopia
Tel: +251 115 52 46 95 Fax: +251 115 52 56 31

P. O. Box. : 22171 code 1000
Email: ccae2002@gmail.com Website: ethiopian-construction.org
Office: Around Urael Church near Bambis Supermarket at Hailegebriel
Building 3rd floor.
Kirkos Subcity, House No.455, Kebele 19,Addis Ababa, Ethiopia
Mesfin Industrial Engineering Plc.

Extension of Bid
Notification for Extension of Bid No. IEMBU/INTL/001/2016 dated 22/04/2016
It is recalled that Mesfin Industrial Engineering Plc. (MIE-IEMBU) has
announced open tender No. IEMBU/INTL/001/2016 for the purchase
of Transmission Tower Manufacturing plant and Hot- Dip Galvanisation
Plant. However, we found that the Bid should be extended for
additional time therefore the bid is extended as follows: The bid closing date is changed from June 01/2016 to July 01/2016
2:00pm local time.
The bid opening date will be the same day on July 01/2016 at
3:00pm local time instead of June 01/2016.
All terms and conditions remain the same.
The complete tender document can be downloaded from MIE
website: www.mie.com.et
Bidders can refer to the Ethiopian Herald newspaper Vol. LXXII,
No.192,22/04/16.
N.B For those bidders who submitted their bid documents, it is
possible to get back the documents for revision or to let them stay
with us till the opening date.
SHORT TERM CONSULTANT (STC) POSITIONS FOR ETHIOPIA LIVESTOCK

MICRO REFORMS FOR AGRIBUSINESS (L-MIRA) PROJECT
The World Bank Group (WBG) Country Office in Ethiopia is seeking to hire two individual
local Short Term Consultants (STC) to support project implementation in relation to the new
Ethiopia Livestock Micro Reforms for Agribusiness (L-MIRA) project. L-MIRA is designed to
support policy, legal and regulatory reforms in the Dairy and Poultry value chains.
1. Ethiopia L-MIRA STC Private Sector Specialist(ID# 1222470): conduct analysis that will
provide baseline information on process and procedures related to regulatory compliance
in Veterinary Drugs and Feed Administration and Control Authority (VDFACA); Contribute to
recommendations on process reform and re-engineering at VDFACA; lead implementation of
reform that builds from the recommendations; research and help present good international
practice related to animal health and feed management as well as lead the relationship
management with VDFACA for this project.
Level of effort: 150 days over a period of one year.
Minimum qualification: At least Masters degree in Economics, Business Administration,
Animal Science, or related fields and minimum of ten years of directly relevant experience
with private sector development. At least three years of project operations and leadership
experience. Familiarity with policy and regulatory reform, process reengineering, animal
health and feed are advantageous.
2. Ethiopia L-MIRA STC Public Private Dialogue & Legal Specialist (ID# 1222466): Support
for policy research and analysis in the L-MIRA project, including the preparation of draft
regulations or regulatory amendments; identification and development of an effective
Public Private Dialogue (PPD) platform including potential longer-term partnerships with
Ethiopian groups that can effectively contribute to the PPD process; facilitation of discussions/
consultations, including agenda development, between the Government and the private
sector on relevant and priority policy issues.
Level of effort: 100 days over a period of one year.
Minimum qualification:At least Masters degree in Law, Economics, Public Administration,
or related fields and minimum of 5 years of experience in research, advocacy and or policy
analysis in areas of private sector development or related fields. At least two years experience
in establishing and running PPD or related events
Please visit https://wbgeconsult2.worldbank.org/wbgec/index.htm land register to obtain
detailed information about the above positions and to apply. Applications must be submitted
in English. The deadline date for submission is July 1, 2016 at 11:59 EST.
The World Bank Group is committed to achieving diversity in terms of gender, nationality,
culture and educational background. Individuals with disabilities are equally encouraged
to apply.
P ag e 37
Syndication articles from
The Financial Times [2013]. All Rights Reserved. Not to be redistributed copied or modified in anyway.(The client) is solely responsible for providing this translated content and the Financial Times Limited does not accept any Liability for the accuracy or quality of the translation.
By David Pilling
Where lions roam free

Pashiet Lakina was a young warrior
of 22 when he speared the lioness.
Although it is a quarter of a century
ago now, he can still taste the fear
and the exultation. He raises his
spear to re-enact the scene.
"The lion was this close," he says,
lunging within a few feet of an
imaginary predator in the waisthigh, sun-yellowed grassland. "The
spear went through the shoulder,
then through the belly."
With his muscular arms and trunklike torso, Pashiet, now 47, still
cuts an impressive figure in his
beaded jewellery and red Maasai
robes. Even now he carries a spear,
which he slams into the earth with a
dull thud each time we stop to take
in the views of the vast savannah,
with Kilimanjaro, an imposing wall
of mountain, rearing up to the
south. Closer by are the gentler
Chyulu Hills, moulded by a volcanic
eruption a few hundred years ago
and now a forested retreat for
elephants. Insects thrum and ants
scuttle over the blackened thorns
of the whistling acacia bushes.
Twenty-five years before, the
wounded lioness had lurched off
into these same grasslands.
"I followed it with my brother
and eventually we found it dead,
bleeding," says Pashiet. "People
celebrated. We cut off the tail and
went to each village so everyone
could see you were a strong, brave
man."
Why did he kill the lion, I ask of
a man who now spends much
of his time persuading fellow
Maasai to forgo that ultimate test
of manhood.
"The lion tried to charge my cows,"
he says. "It is shameful for a Maasai
if you lose a cow. I was angry."
For the Maasai, cattle are more
or less everything. A greeting in
the Maa language from which
the Maasai take their name, is,
"I hope your cows are well."
Traditionally, they believed that
all the world's cattle belonged to
them, a conviction that inevitably
led to conflict with neighbouring
tribes.
The Maasai once occupied all the
Great Rift Valley from modern-day
central Kenya to northern Tanzania.
In the early 20th century, they were
evicted from swaths of territory
to make way for British settler
ranches. Still, Maasai self-belief
is unshaken. They retain much of
their culture and their numbers
are rising, putting pressure on
the land. For them, the world is
divided into the Maasai and the
Meeki - the Maasai and everybody
else. Naturally, to be a Meeki is not
something to shout about.

Pashiet works for the Maasai
Wilderness Conservation Trust,
founded by Luca Belpietro, an
Italian who gave up a career in
financial consultancy to move here,
and who is, like Pashiet, a hunterturned-gamekeeper. Brought up in
Lombardy, from the age of 10 Luca
accompanied his father on African
hunting expeditions. He still keeps
a framed photograph of Belpietro
senior, rifle in hand, sat astride
a majestically tusked, decidedly
dead, elephant.
Luca and Pashiet met some 20
years ago when the Italian, now a
naturalised Kenyan, embarked on
a project to build a luxury safari
camp in the middle of the Kuku
Group Ranch, a 280,000-acre
tract of land owned since Kenya's

independence by the Maasai who
live there. Pashiet was one of the
young warriors employed to dig the
foundations.
After two years camping on site with
no facilities beyond a pit latrine,
Luca and his partner Antonella
Bonomi opened Campi Ya Kanzi,
a beautiful ecolodge where they
now live and where tourists can
stay in one of eight exquisitely
appointed tented cottages. When
you roll up the blinds in the
morning it is to views of animals
at the nearby watering hole and
Kilimanjaro rising magnificently
behind. The sole sounds at night
are the chattering of birds and
the occasional growling of lions.
The camp is the only tourist lodge
The next we scramble over

blackened lava spewed out
in the Shaitani eruption in
1856 (the word comes from
the Arabic for "devil") or
climb a rocky lookout to
watch storms flash across
the valley. To be immersed
in such surroundings, to be
that dot on the landscape,
is to be humbled in the face
of beauty most profound.
on the vast ranch, home to an

estimated 17,000 Maasai (though
you can drive all day and not meet
any of them).
For most of my stay, I am the only
guest.
There are many luxury safari camps
in Africa, and most make some kind
of charitable contribution and nod
towards helping the environment.
Campi Ya Kanzi's ethical credentials
go way beyond that. It runs entirely
off harvested rainwater and solar
power, and though Luca funded
its construction, the land and the
lodge are owned by the Maasai
community. Luca runs it as a
commercial operation but pays
$101 per guest per night to MWCT,
a non-profit body whose diverse
board ranges from Titus Naikuni,
a Maasai who is former chief
executive of Kenya Airways, to
Edward Norton, the US actor.
The trust employs 265 people to run
education, health and conservation
programmes, but the camp's $101
contributions specifically fund
a scheme called Wildlife Pays,
designed to discourage the hunting
of lions. Dozens of Maasai are
employed as rangers, known as
"Simba Scouts", who warn fellow
Maasai when lions are in the
vicinity so they can graze their
cattle elsewhere. If cattle are killed,
the owners are fully compensated.
It is an example of what the
environmental industry calls
Payment for Ecosystem Services;
another set up by the trust is a
carbon-credit scheme, under
By John Aglionby
Kenyan artist collectives foster

new talent and fill a funding gap
rom the street, Brush Tu does

not look like a centre of any
sort of excellence, let alone
the venue for a flourishing
collective of young Kenyan artists.
There is no sign outside the narrow,
scruffy house in the Buru-Buru
neighbourhood of east Nairobi, the
faded paint on the walls is chipped
and the small front yard is a mess.
But this hardly matters to the
three young men who, in 2013,
diverted from the usual path to
artistic success in Kenya. Instead
of seeking sponsorship or support
from a donor organisation or an
arts centre, they teamed up to share

costs, increase their exposure and
maintain their independence.
"There's a quid pro quo to being
supported. I hear these complaints
from some artists about having to
do this or that," explains Boniface
Maina, 29, one of the Brush Tu's
founders, referring to pressure
over subject matter - the current
trend being migration. "We didn't
want to have to deal with that. We
wanted to do what we wanted, when
we wanted."
This is an unusual approach in
a nation where government arts

funding is all but non-existent.
"The government lumps arts with
sport and youth affairs," says
Wambui Kamiru, the founder and
owner of the Art Space gallery in
Nairobi, who has exhibited some
of the Brush Tu artists. "Artists just
don't speak up in the way that sports
do, so they get ignored."
The difficulty of accessing funding
may explain why Kenya's art scene
still lags behind its continental
rivals South Africa and Nigeria in
global exposure. It is hard to build a
reputation without publicity, despite

the success of a few names, such as
Nairobi-based contemporary artist
Michael Soi, who received a helping
hand from actress Lupita Nyong'o
when she posted a picture of herself
on Facebook carrying one his handpainted canvas tote bags.
Brush Tu started after Maina and
a friend, Michael Musyoka, had
been helping a third artist, David
Thuku, to paint theatre backdrops
and murals.
P ag e 38
By John Gapper
LinkedIn swaps business

cards with Microsoft
Despite strenuous efforts by

mobile phonemakers and software
companies to replace them with
online contacts, shared like some
invisible handshake by Bluetooth
or wireless, business cards remain.
As long as you remember to carry
them, nothing has improved on
the ritual of exchanging rectangles
stamped with your identity and
details.
Business cards are light, portable
and open. No need for compatible
platforms and software to swap them
- you hand them over, perhaps with
a little bow if you are in Japan. Nor
does the exchange endanger privacy.
It is peer-to-peer networking: the
only person who sees the card is
the one who receives it.
Compare it with Microsofts deal
this week to pay $26.2bn for
the professional social network
LinkedIn, with its 433m members.

That works out at $60 for each
LinkedIn user, or $250 for each
of its 105m monthly active users
- those who not only join but also
regularly use the platform. It is a
high price for a stack of cards.
Microsoft is, of course, buying more
than that. Despite its patchy record
of making acquisitions - including
of Nokias mobile phone division
and Skype, the telecoms service - at
lofty prices and struggling to achieve
promised benefits, Satya Nadella,
its chief executive, has not lost his
mind.
Apart from data about every members
career and background, Microsoft
gains knowledge of the network of
executives and professionals they
know - what sociologists would
call their weak ties and LinkedIn
calls the economic graph. It
amounts to a hoard of data to be

mined for advertisers and licensed
to marketers so that salespeople can
pitch to potential buyers.
This is all pretty valuable in a faintly
sinister way: LinkedIn gained $1.9bn
of its $3bn revenues last year
from talent solutions, or what is
commonly known as headhunting.
Most people like to be offered new
jobs while companies like to know
where they can recruit, for example,
a Mandarin-speaking technology
executive in New York with close
connections in Beijing.
Mr Nadella and Jeff Weiner, chief
executive of LinkedIn, enthused
about the deal in a torrent of
buzzwords. It united the worlds
leading professional cloud with
the worlds leading professional
network and would, in Mr Weiners
words, offer more of top-of-the-
funnel action. Expect to find

LinkedIn contacts popping up
in Word and Excel, and trawled
by Cortana, Microsofts artificial
intelligence tool.
Microsoft needs something for
its $26bn but the deal raises a
fundamental question about the
internet. How did we leap from
business cards, with their privacy
safeguards and individual autonomy,
to this? Mr Nadella hastened to say
nothing will be done without users
permission but LinkedIns habit of
constantly emailing perky updates
about virtual strangers does not
reassure.
As LinkedIns user agreement (the
legalese to which you consented
without reading) puts it, users
own their data but they grant
a worldwide, transferable and
sublicensable right to use, copy,
By David Pilling - LONDON
Nigeria devaluation
leads to nairas collapse
igerias central bank finally

buckled to market pressure
to devalue the naira, saying
it would move to a purely
market-driven currency system
from Monday.
The decision, which immediately
triggered a collapse in the value of
the naira against the dollar on the
non-deliverable futures market,
came after months of speculation that
the current regime could not hold.
Nigeria is going through its worst
economic crisis in more than a
decade because of low oil prices,
which account for more than 90
per cent of foreign revenue. The
economy contracted in the first
quarter amid acute foreign exchange
shortages, which have deprived many
businesses of the ability to import
inputs.
Godwin Emefiele, central bank
governor, said the bank would
periodically intervene to buy or sell,
but he did not mention a level at
which the naira would be defended.
Nor did he discuss a move in interest
rates, which some analysts argue is
an essential component of a new
Market-driven system for

currency to begin but no
level is set for its defence
exchange-rate regime if foreign

reserves are to be kept at reasonable
levels.
Africas most populous nation and
top oil producer has official reserves
of $26.5bn, about five months of
imports. But analysts estimate the
real figure, net of borrowing, may be
as little as $21bn.
Forward futures suggested the naira

could fall by as much as 30 per cent to
around N280 to the dollar, according
to Capital Economics, which said it
was surprised that Nigeria appeared
to have bitten the bullet in going to a
fully flexible exchange rate.
The government of President
Muhammadu Buhari had consistently
refused to budge from the official
exchange rate of around N200 to the
dollar, arguing that to do so would
stoke inflation, already higher than
15 per cent, through the higher cost
of imports.
Instead, the government rationed
foreign currency to so-called
strategic industries, bringing other
businesses that could not access
foreign currency to a standstill or
forcing them to a flourishing black
market where the naira regularly
traded above N350 to the dollar.
Mr Emefiele said categories of items
classified as not valid for foreign
exchange would continue to be shut
out of the official dollar markets,
raising the prospect of continued
trade on a parallel market.
Razia Khan, chief economist for
Africa at Standard Chartered Bank,

said Nigeria had boxed itself in by
leaving the devaluation too late.
That had left a backlog of between
$6bn-$9bn of unsatisfied foreign
exchange requirements, which would
be impossible to fulfil in one go
without reducing foreign reserves to
dangerous levels.
The change of heart on foreign
exchange policy had, she said, been
precipitated by a realisation that
something had to be done to rescue
an economy that shrank in the first
quarter and could be heading for a
deeper downturn. Due to oil prices,
the west African nation faces its worst
economic conditions in more than
15 years.
A senior representative of the central
bank said it was not targeting any
specific rate.
There is no band at all, he said,
adding: Lets see how it goes and
what the market does.
Mr Emefiele said the central bank
was determined to make the market
as transparent, liquid and efficient
as possible and would not stand for
either rent-seeking or speculation.
modify, distribute, publish and

process, information and content
that you provide . . . without any
further consent, notice and/or
compensation.
This is data ownership but not as we
knew it. Nor is it the way the internet
was meant to work.
The internet was designed to be
decentralised so everybody could
participate . . . [Instead] personal
data has been locked up in these
silos, Sir Tim Berners-Lee, the
computer scientist who invented
the world wide web, said last week.
In other words, instead of everyone
in effect owning their own business
cards and exchanging them, the
modern internet economy operates
by large companies requiring users
to hand over all their virtual cards
and blending them on databases.
Companies such as LinkedIn and
Facebook then make money by
targeting advertisements and
services, guided by the clouds of
data, with users offered benefits in
return.
S i r Ti m w a s s p e a k i n g a t a
decentralised web summit in
San Francisco, an event intended to
rally software engineers to tweak
internet architecture a little bit
and thus restore its peer-to-peer
roots. He wants individuals to hold
their data and choose how software
interacts with it, not for Microsoft to
bundle it all in the worlds largest
professional cloud.
It is similar to the idea behind the
blockchain - that financial and
other contracts could be settled
across peer-to-peer networks rather
than relying on a company or
central bank to approve them.
As Sir Tim noted, cyber space
was originally crafted as one,
big hippy encampment free of
traditional laws and commercial
contracts, such as long and dense
user licences.
Whether Sir Tim can return the
internet to its halcyon past is another
matter. Hundreds of millions of
people like the deal they get from
LinkedIn, Facebook and others.
They do not have to pay, unless they
subscribe to premium benefits,
and they obtain free access to some
slick, useful applications.
But putting individuals back in
charge of their own economic
graph would not stop them from
volunteering data when it suited
them. It would be a familiar world
in many ways, rather like having a
business card.
P ag e 39
By Gabriel Wildau and Tom Mitchell - Beijing
Beijing defends $470bn

currency intervention
hinas central bank has

burnt through nearly
half a trillion dollars
in foreign reserves to
support its currency
since August, despite criticism that
it has betrayed its commitment to let
market forces drive the exchange
rate.
Sources close to the central bank
said the intervention, while costly,
had been necessary to maintain
economic confidence and prevent
a disorderly depreciation that could
have had ripple effects far beyond
the currency.
The Peoples Bank of China
has spent about $473bn of its
foreign exchange reserves since
it surprised global markets last
August by changing the way it
set its daily guidance rate for the
currency, according to Financial
Times estimates based on official
data.
Fears that China would permit

or actively encourage a sharp
devaluation led to a wave of
renminbi selling after the move.
The most important factor is
confidence, both globally and
within China, said a central bank
official. The cost of intervention
in terms of reserves has been high,
but this policy cant be evaluated
just in terms of numbers. Once
confidence is lost it cant be easily
restored. Then a lot of bad things
can happen.
PBoC officials knew that changing
the way the central bank set the
daily fix would unleash pent-up
depreciation pressure, but they
underestimated the intensity of
the market reaction, according to
analysts.
A move that might have been
expected to produce a 5 per cent
downward adjustment quickly
threatened to spark a 10 or 20 per
cent rout in a matter of days. Such

an uncontrolled devaluation could
have undermined the broader
financial system by inciting investors
to dump renminbi assets en masse.
The International Monetary Fund
is likely to address exchange rate
volatility, among other financial
risks, when David Lipton, its deputy
managing director, presents the
funds annual financial stability
report on China.
While the timing of last years
move was probably linked to the
IMFs then-pending decision on
whether to designate the renminbi
an official reserve currency, it also
coincided with dramatic turmoil in
the Chinese stock market, adding to
investor jitters.
That put the PBoC in the position
of scrambling to curb renminbi
weakness days after announcing
a policy ostensibly intended to
reduce government interference in
the market. Resulting widespread

confusion among investors about
the central banks true intentions
was exacerbated by the PBoCs poor
communication.
Not all PBoC advisers consider
intervention to stabilise the
renminbi-dollar rate necessary.
Some Chinese economists fear any
movement of the exchange rate,
said one. They fear that if it falls
2 per cent, then it will fall 10 per
cent - and if it falls 10 per cent then
it will fall 100 per cent.
Given Chinas consistently strong
trade surpluses and low external
debt levels, the currency should
remain relatively stable against the
dollar, the adviser added.
If you take the whole balance
of payments picture into
consideration, the renminbi will
stabilise quite easily and rebound.
For the critics PBoC spending
on intervention has only delayed
further weakness in the renminbi.

Economists broadly agree that
downward pressure is likely to
resume once the timing of the US
Federal Reserves next interest rate
rise becomes clearer.
Reserves fell to $3.19tn last month,
down from a peak of $3.99tn in
June 2014. Even with intervention,
the renminbi has lost 5.3 per cent
since the devaluation last August.
The PBoC has rejected criticism that
it has abandoned its commitment
to a market-based exchange
rate. Officials have said that with
the economy showing signs of
stabilisation, further depreciation
will be modest and will not spark
general panic.
Whenever there are signs of
w e a k n e s s i n t h e e c o n o m y,
policymakers will quickly worry
about maintaining stability, said
the official. It doesnt mean were
giving up on reform.
By Bruce Love
Success with money is in the mind
ou cannot ignore how

people think about money
- and the methods by
which they psychologically
separate their cash into different
buckets. One bucket for
retirement, one for vacations, a
couple for kids and education, and
so on. Advisers are taking a greater
interest in these thought processes
in order to understand how they
affect investor decision making.
Drew McMorrow, chief executive
of Massachusetts-based Ballentine
Partners, is one of a growing
number of wealth advisers who
believe in behavioural finance.
He applies a method to help
clients better understand their
mental accounting decisions to
fit his clients aspirations into
an investment strategy, because
different portfolios will have
different goals and varying degrees
of risk.
Mr McMorrow says this method
helps his clients understand
and confront their behavioural
biases when investing. If someone
is scared of losing money, for

example, they can better deal with
market downturns if only a few
buckets are affected.
Over the past decade, behavioural
finance researchers have
been trying to understand the
psychological principles that
govern investor behaviour, such
as an aversion to losses.
The concept, says Nicholas
Barberis, professor of behavioural
finance at Yale University, has been
used to understand why many
people are uncomfortable investing
in risky asset classes.
At the other end of the spectrum
is overconfidence, when people
overestimate their ability relative
to others and overestimate the
precision of their forecasts.
This has been rigorously linked
to excessive trading in brokerage
accounts and to the associated
poor investment performance,
says Prof Barberis.
Using modelling and big data
analysis researchers have found
that people often attach too much

importance to outcomes they
have personally experienced. An
investor will be more comfortable
investing in the stock market if they
have experienced good returns.
This is called the experience
effect, and it isnt optimal. We
should pay attention to all past
data, not just the data we have lived
through, says Prof Barberis.
Using modelling and big data analysis researchers have

found that people often attach too much importance
to outcomes they have personally experienced. An
investor will be more comfortable investing in the stock
market if they have experienced good returns.
He adds that we still do not know
for certain which are the most
important psychological principles
that affect our investment decisionmaking processes. He also believes
that consensus about what might be
sound investments may be different
in the future.
For example, one commonly
understood principle is
extrapolation, when people think
past performance is a good guide
to future outcomes. As the legal
disclaimers on mutual fund
advertisements state, however,
this is not the case.
Michael Liersch, head of
behavioural finance at Merrill
Lynch, says he thinks that investors
should approach concepts of
behavioural finance with a healthy
degree of scepticism.
He maintains that simply
acknowledging that investors have
preferences and biases can help
them better understand their
own trading and asset allocation
decisions.
Traditional economists shied away
from emotion in the marketplace,
says Mr Liersch. But the market
proved to be anything but
dispassionate.
Jordan Waxman, managing partner
of New York-based HSW Advisors,
P ag e 40
Where lions roam . . .

which the Maasai will be paid to
leave forests on the Chyulu Hills
intact.
It is, says Pashiet, an odd thing for
a Maasai to be paid for allowing
lions to go about their slaughter.
"At first, it was very hard to explain
to people, don't kill a lion," he
says. "If young warriors are told
they can't kill a lion, they are not
very happy."
Still, he says, warriors get pride
from their role as Simba Scouts and
the programme is gaining traction.
The number of lions speared has
dropped to one or two a year and
lion numbers have recovered.
The trust has also helped set up the
"Maasai Olympics" as an alternative
to spearing lions. (Ladling soup
for wealthy tourists at the lodge,
where Maasai are hired as waiters
and guards, is hardly a substitute.)
For the winners - in running, spearthrowing, and jumping - there are
prizes: a chance to run in the New

York Marathon, for example, and,
of course, gifts of cattle.
Luca concedes that attempts
to tweak a culture are morally
ambiguous.
"I feel uncomfortable that, with my
conservation work, I am stopping
the Maasai from expressing their
culture by going out and killing
a lion," he says. "The Maasai are
a very proud tribe, if you want
to use that word. In Kenya, there
were more than 50 tribes, yet there
are just three or four that have
maintained their language properly
and their law and their traditions."
Another practice the trust is seeking
to end is female genital mutilation
(FGM), outlawed by the Kenyan
government in 2011. Samson
Parashina, the trust's Maasai
president and manager of Campi Ya
Kanzi, is a strong opponent but says
many mothers remain adamant
that their daughters undergo the

procedure before marriage. He
hopes to introduce a right-ofpassage ceremony to replace
the celebrations that accompany
"female cutting".
"Change is inevitable," says Luca.
"The role of the trust is to give
Maasai the chance to maintain
whatever they want of their culture.
If we can give the Maasai a reason to
use their land more sustainably and
carry on with their pastoralist life,
some Maasai will be comfortable
with that, but some will go to the
city and become urbanised."
A stay at Campi Ya Kanzi is to
glimpse these dilemmas at close
hand. On daily forays into the
bush with Pashiet, the conversation
veers between wildlife and culture,
between the mating habits of the
tiny, monogamous dik-dik, the
smallest of the antelope, and the
merits of ending FGM. Pashiet has
Success with . . .
agrees: The market is based
on myriad emotional decisions
and gut reactions.
Mr Waxman, whose firm is part
of national adviser HighTowers
network, says he often sees
investors inappropriately
anchoring their investing.
All theyre thinking about is
the price in which they bought
and the price at which they
want to sell, he says. This
creates lopsided portfolios.
Mr Waxman says he tries to
understand his clients goals
in a bid to comprehend the
psychology of their investment
decision-making.
Investors usually think and talk
in terms of emotion, and its
the advisers job to work out
which emotions are impacting
their decision-making, says
Mr Waxman, who explores his
clients early experiences of money
problems - such as where they
come from, what moves clients
and what information they have
received in the past.
These experiences translate into
their values and can drive their
behaviours towards investing,
he says.
Whether it is judging the suitability
"We just clicked and decided we

wanted to do more together," says
Musyoka. "We thought we needed
space to put our artworks, so why
not get a residential house."
Since then, the venture has
grown. Two more artists joined
the collective at the beginning of
2015, prompting a move to the
current, larger, premises, and the
five members now offer short-term
residencies to other artists. Brush
Tu collective's paintings now sell
for thousands of dollars apiece
and are starting to be exhibited
abroad, including in South Africa
and Denmark.
One of the current artists in
residence, sculptor Boniface
Kimani, was the principal of the
Buru-Buru Institute of Fine Arts,
where several of the collective's

members studied.
"I've been here several months,"
says Kimani. "It's a great place
to practise my art. We're able to
inspire each other. The teacherbecoming-the-student is a sign of
what they've achieved."
Nairobi is home to other artists
collectives - including the Mukuru
Art Centre and the Dust Depo art
studios. But neither of the latter two
was started by young artists and few
of their members have enjoyed the
same success as those of Brush Tu.
Danda Jaroljmek, the director of
Nairobi's Circle Art agency and gallery,
says the initiative is an example of a
conspicuous progression of Kenya's
artists since the country gained
independence from Britain in 1963.
of an investment for a particular

client - the regulatory bar that governs
broker-dealers - or putting the best
interests of the client first, Merrill
Lynchs Mr Liersch argues that the
principles behind behavioural finance
are directly in line with regulatory
constraints on the industry.
Fiduciary rules, under which
registered investment advisers
operate, require the adviser to put
the best interests of the client first.
Thats exactly what behavioural
finance does, says Mr Liersch.
Prof Barberis is quick to point
out that behavioural finance is
still a young field, and so far the
research has focused mainly on
Kenyan artist collectives . . .
two daughters. His 19-year-old,

who wants to be a doctor or a
teacher, was circumcised in ageold style, but things are changing
fast. Her younger sister is not
having any of it.
"My 13-year-old daughter says, 'If
you try, I will go to the police.'"
We set out on a walking safari and
Pashiet strides ahead, pointing
out every feature of the landscape,
from tiny swivelling grass seeds to
the glowering granite cliffs. Every
hill, mountain and outcropping
has a name.
"We call that one 'rock to sharpen
your spear'," he says, pointing to
the distance.
One day we plunge into the
rainforest of the Chyulu Hills. The
next we scramble over blackened
lava spewed out in the Shaitani
eruption in 1856 (the word comes
from the Arabic for "devil") or
climb a rocky lookout to watch
understanding the psychological

drivers of investing behaviour specifically investing mistakes.
Sometimes, we can be too
casual or too quick when
trying to diagnose the root
o f s o m e o n e s i n v e s t i n g
behaviour, says Prof Barberis.
Even if we can successfully
identify the faulty thinking
behind an investment decision,
its hard to know how to change
it. People have wrong-headed
intuitions about how to invest,
but these intuitions are often
strongly held and hard to
change.
storms flash across the valley. To

be immersed in such surroundings,
to be that dot on the landscape, is
to be humbled in the face of beauty
most profound.
There is plenty of wildlife, though
the conservancy is less chock-full
of animals than, say, the Maasai
Mara. That makes each sighting a
moment to savour. One evening we
spot a herd of giraffe, gambolling
as if in slow motion through the
twilight. Another time, we come
across a herd of buffalo. We watch
as they inch imperceptibly closer
in preparation to charge.
There are daily encounters with
gazelles and hartebeest, warthogs
and kudu, and countless birds of
prey, magnificent in their "umbrella
tree" perches. One trip to look for
elephants is unfruitful, but we
are compensated with breakfast
under a baobab tree, where an
improbable spread of homemade
bread, honey, marmalade, passion
fruit, mango, bacon and eggs and
countless other delicacies has been
prepared.
One evening, just as darkness
is descending, Pashiet's radio
crackles into life. Lion have been
spotted by a Simba Scout. We speed
off in an open-air vehicle into the
night. Nervous antelope flit into
the bush. They too know that lion
are about. After half an hour of
bumping across the grasslands in
the pitch black, we finally see them.
Seven lions, tearing at the carcass
of a warthog. Floodlit, they are too
busy with their dinner to notice.
Aside from the snarling and the
growling, the only sound is the
crunch of teeth against bone.
We watch in awe. Throughout,
Pashiet's spear remains propped
up in the vehicle's front seat. He
never reaches for it once.
"The first generation after

independence was entirely
dependent on the galleries for
materials and stipends. The second
generation, born in the 70s,
travelled the world a lot," she says,
referring to artists like Kenyan-born
Paul Onditi, who was helped by
the Nairobi-based Kuona Trust and
studied in Germany.
"Those artists inspired the younger
generation to take everything a step
further," Jaroljmek says.
Both Maina and Musyoka say their
work is becoming more political.
"It drives me crazy that we have
the political class mostly using the
people as pawns in their games,"
Maina says. "But with my work I
don't just point in one direction
but try and look in both directions.
For example, corruption is so bad

because of all of us. People have to
stand up and take responsibility."
Young artists in Kenya are becoming
increasingly experimental,
venturing beyond the world of paint
on canvas. Most of the Brush Tu
five want to expand into sculpture
and installation art, partly because
of Kimani's influence, while other
under-30s are going further.
Jaroljmek cites the example of
an emerging talent who is a step
ahead of the Brush Tu collective,
the self-taught artist Jackie Karuti.
Karuti, 29, who is about to start a
residency at the Gasworks gallery in
south London, is making animation
and video art - an unusual choice of
media in Kenya - tackling abstract
concepts such as what she describes
as "an imagined universe".

"There are very few women Kenyan
artists," Jaroljmek says, adding that
they tend to be experimental and
daring.
Karuti is one of the few artists
whose work Jaroljmek is taking
to the 1:54 Contemporary African
Art Fair in London this October,
but she doesn't consider this an
unequivocal mark of success: "If
you ask most artists what's their
definition of success, most would
say number of exhibitions or works
sold. In that case I'm a loser, she
says. "For me it's about progressing.
I like learning through working with
other people."
To achieve that end, she says, she
is considering starting her own
Nairobi collective.
P ag e 41
This column gives advice about new technologies as well as gadgets and provides information on how to use new products from the
digital world. Any questions on the day-to-day operation of one's computer can be addressed by emailing Dereje who is willing to
advise or assist readers whenever possible.
with Dereje Letiyebelu
email: d.letybelu@gmail.com.
More Than Eight Billion Devices Worldwide are Connected to the Internet
There is now a connected device in use
for every man, woman and child in the
world - and then some. A new study by
London-based IHS Inc. has determined
that at the end of 2015, there were
8.1 billion connected smartphones,
tablets, personal computers, TVs, TVattached devices and audio devices in
use worldwide. The world population is
currently at about 7.4 billion.
The IHS Technology Connected Device
Market Monitor study found that on
average, the 8.1 billion total equates to
around four devices per household. The
report examined key trends and data for
markets including global devices, over
the top (OTT) and pay TV multiscreen.
Driving Media Consumption
The proliferation of media-enabled
connected endpoints has implications for
media consumption, media production,
broadband infrastructure, and the
business itself of network management
and traffic discrimination, said Merrick
Kingston, who analyses connectedhome issues for IHS Technology. It
drives media consumption, IP traffic
and more.
IHS also found that smartphones now
outnumber tablets by five to one.
Smartphones contribute roughly half
a billion new devices to the market
annually, IHS said. The markets for
tablets and OTT set-tops are also
growing rapidly, but not as fast as
smartphones. By 2020, the gap between
smartphones and tablets will be wider,
according to the company. Within the
forecast period, the smartphone-totablet ratio is predicted to grow to
nearly 10:1.
Chromecast Leapfrogs Apple TV
The latest IHS Technology reports
also found that Googles Chromecast

streaming technology is outpacing
Apple TV. Chromecast has historically
had trouble outselling Apple TV, but that
changed during the first quarter of this
year when Apple TV shipped 1.7 million
units compared to Google's 3.2 million

Chromecast units.
Kingston speculated that Chromecast
will stay in the lead, noting that since the
introduction of the fourth-generation
Apple TV, Apple and Google have
pursued different strategies in how their

respective products are sold. While
Apple TV sells for $149 and is being
marketed toward existing Apple and iOS
users who want a hub for digital video,
the 35 dollar Chromecast is a no-frills
The Anker Powerhouse
Opolar Laptop Cooler
f you have serious

portable power issues,
then maybe this Anker
Powerhouse will be
able to get you out of a
bad spot. It can charge a
smartphone 40 times over,
a laptop 15 times over, or
could power your mini
fridge for seven hours.
This 434-watt power bank
is fumeless, fuel-less, and can be charged by plugging into an outlet,
or using a compatible solar charger so you never have to pay the
electricity bill again.
his device has four USB ports,

a 12V socket, and an AC outlet
to make sure that you can get
your power however you need
to. This has a battery management system
to keep the voltage and temperature
under control, as well as short circuit
prevention. This is best used by campers
who do not want to disconnect while they
are out in the wilderness. You will want to
make sure you are using this at least once
every four months and are keeping it in a
cool, dry place to preserve the battery life.
casting device that many users love for

its simplicity.
Netflix Is Rolling
Netflix now has a presence across 32pc
of connected devices in the United
States, according to IHS. As of the end
of last year, Netflix was running on 339
million connected devices in the US.
Kingston pointed to Netflixs ongoing
device strategy as a key reason for its
dominance, saying that the ubiquity of
the service makes it both a rival and a
companion to most other video services
offered in North America.
The time when any one multiscreen pay
TV service could claim exclusivity to a
device or platform is rapidly ending, with
pay TV media apps likely to increasingly
co-exist with Netflix on consumers
devices, IHS said. newsfactor.com
How is a Capacitive Touch Screen Made?
oday, a capacitive touch screen

works through the use of an
ITO touch film attachaed to
the screen. This touch film is
a semiconductor that has been printed
out using semiconductor manufacturing
methods such as roll to roll processing
which uses a roll to roll evaporator
system to create an electronic device
on a flexible plastic.
A roll to roll evaporator system from
industry-leading manufacturers is able
to mass produce ITO touch film that can
be used on various devices.
Roll to roll technology is preferred over
other technologies such as roll to plate
and plate to plate technologies due to
its offering a continuous process and
higher throughput than the others. That
ITO touch film is then programmed
using software that enables us to give
our devices instructions through the use
of our fingers on the screen.
In fact, semiconductor manufacturing
processes are used for many other
products too, such as solar panels,
cameras, and printers.
So now you have a basic idea of
where technology came from and the
technology that is used to produce
the semiconductor film used on touch

screens today. Without machines that
use a roll to roll evaporator system, we
would not be able to enjoy the many
touch screen devices that are available
to us today.
Hollywood & Biometrics
The use of technology and effects have
always been a USP of many Hollywood
films and we will discuss the use of
biometric technology in films. Also, we
will discuss the privacy issues related to
celebrities and biometrics.
Many crime, sci-fi, and action films
use the technology to create visuals.
But one fact that you shall know is that
Hollywood always portrays biometrics
the wrong way, at least most of the time.
Here's how:
Police want to find a terrorist/criminal
on the loose. They get information
that he/she is in a crowded market. So
they quickly use a facial recognition
system over the market's CCTV footage
to identify the person. In reality, facial
recognition does not work that fast. It
works based on some algorithms and
could only be used to match separate
pictures like passport, or ID card.
Secondly, identifying a dead person's

face through a photograph is not that
easy as his/her eyes are usually shut.
Many biometric systems will not start
monitoring without eyes. And for several
other reasons like light conditions,
moving angles, distances, hairstyles,
finding a match is tough.
Remember, James Bond or Jason
Bourne using somebody else's fake
fingerprints to scan through the
machine and gain access to whatever
they sought? Well, in reality, such
fakes could be easily identified by the
machine. Getting access to a print or
dismembered finger does not let you
gain entry as biometric machines are
too smart for that. Plus, these agents
do have a busy day in the field, with the
possibility that their hands might be
dirty or cut, such flaws, the machine
could easily detect. If the authentication
is wrong, the machine would ask for
all finger-scanning, enough time for
the crooks to catch our hero/heroine.
Iris recognition is superb and precise
but its portrayal in films is not-soaccurate. The scanners are powerful
enough to scan eyes within split seconds
and from five feet away. But in films,
the actors have to first stand, and then

place their eye and then wait till the
scanner scans the whole eye.
Secondly, many spies and agents carry
an eyeball like Tom Cruise used to
carry in Minority Report. Eyeballs are
very tender and could easily lose shape
thereby falsifying the authentication.
Privacy
As the entertainment and showbiz
industry grows, celebrities' privacy
risks grow equally. Once face becomes
utterly important. Apps could now scan
a celebrity's image from TV to give the
celebrity's name.
Insurance companies take actors
body scans in case they die during
production. Hence, studios could
license the scanned face and paste it
in a digital doll with another actor's
movement affecting the original actor's
privacy and confidence. This trend is
hardly seen but we all know how fast
technology spreads!
In conclusion, technology, even though
incorrect, appeals audience's eyes
thereby letting them not to think about
the details which is fine. But our job is
to share information.
Splice
Welcome to Splice, the cloud
platform that helps you create,
collaborate, and share music!
When you arrive at the site you
can scroll down the page to learn
more about Splice, or you can click
Explore Features to get detailed
information about Splices platform.
If you have questions, check out
their Help Centre. Signing up for the
platform is free. It looks like there is
a subscription fee for the sounds, but
you can pick and choose what you
want. What you get for free is your
own slice of cloud where you can
store the music you create.
This looks like a nifty tool for
musicians.
Check it out today.
https://splice.com
P ag e 42
Movie
Movie Review
Review
coming soon
GUYS AND GIRLS CAN'T BE
FRIENDS
June 14 - 5, 2016
wwwyyy
The Nice Guys scores

points on all the essential
elements of a good movie
plot (despite being
pleasantly warped),
acting, and directing. It
was therefore not difficult
for Fortune's in-house
critic, Christian Tesfaye
to award it a whopping
seven out of 10 stars.
$40.4M
Weekly Revenue
The Conjuring 2
$24.2M
Weekly Revenue
Warcraft
$22.4M
Weekly Revenue
Only to the unconcerned eye of an

audience or a reader could murder
serve as a mere plot device, and
quench the human thirst for mystery
and intrigue. Or to a mad man; does it
mean we are all to a certain extent mad?
In reality, murder signifies supreme evil.
Death, the demise of both the conscious
and the unconscious, provokes the
deepest of emotions. But it is also a
very natural phenomenon, it happens
all the time, everywhere, to everything
that is alive. Murder, the intentional
evocation of death, conversely, is an
occurrence far removed from ordinary
human experiences. It is the worst thing
anyone could ever do. Nevertheless, in
detective books and movies, it is one
more fascinating case for a shrewd, fasttalking detective to awesomely solve.
That murder features in most of our
entertainment, as a chief part of that
entertainment, by means of violence or
mystery, is not at all startling. Rolland
Emmerich regularly kills off a million
people in his films, and those movies
are constant box-office magnates. But
while most genres treat death as a way
of discarding characters the audience
is not expected to relate to, (like
henchmen), detective fiction fetishises
it. Such a movie, or a book, starts
with murder and in whatever way the
detective is used to, proceeds to solving
it. Philosophy and spirituality are not
the tools employed here, but the cold
scientific methods of data analysis and
fact checking.
The recent Russell Crowe - Ryan Gosling
vehicle, The Nice Guys, is a poster
child for such movies. And like the
classic crime films Chinatown and L.A.
Confidential, it takes place in a time
before itself.
After a delightfully retro opening credit,
The Nice Guys opens to a female adult
film stars death scene. Private detective
March (Gosling) is hired by the girls
aunt, who claims to have recently seen
her niece alive, to find her. March does
not believe the old lady, but he takes
the job anyway because he needs the
money. He is not an upstanding citizen,
but in the 70s, deep in the heart of Los
Angeles (LA), who was?
The only explanation March could come
up with is that, since the lady is old, and
wears thick eyeglasses, she must have
seen someone merely identical. He
tracks down a girl named Amelia, who
was at the same location as where the
lady saw her niece and starts shadowing
her. But Amelia is not a fool, she is
Now You See Me 2
$14.4M
Weekly Revenue
Teenage Mutant
Ninja Turtles: Out
of the Shadows
Film Review |By Christian Tesfaye - special to Fortune
The Nice Guys

is for Smart Folks
paranoid, she thinks March is stalking

her, so she hires enforcer Jackson Healy
(Crowe) to frighten him away. Healy
does his job (he breaks Marchs arm)
and life returns to normal.
Only that it does not. Shortly after, two
thugs visit Healys apartment hoping to
get some information about Amelia.
Healy temporarily scares his assailants
away but has to find Amelia soon.
He would not want to get any more
unprecedented visits. But only one
person knows where she is - March.
Unenthusiastically, and with a little bit
of encouragement from four Benjamins
(in the 70s, 400 dollars was a lot of
money for someone under financial
strain), March joins the investigation.
Finding Amelia seems to be just the tip
of the iceberg; the real mystery sends
shivers down LAs power hierarchy.
Despite my summary, the film is actually
very lighthearted. It could be described
as a buddy comedy - where two initially
mutually disagreeable characters take a
particularly unique adventure together,
climaxing in male bonding and eternal
friendship. In such cases, the films
entire success rides on the lead actors
chemistry. And Gosling and Crowe
were born to be onscreen best friends.
Their naturally harmonious interaction
with each other is a testament to the
superior, often neglected powers of
screencasting. I was slightly jealous these people do not just get to have a
great time performing in a good movie,
they also get paid.
What one notices quickly in The Nice

Guys is that, despite the great chemistry,
the players are on different planes of
acting. Gosling generally plays March
as this goofy clueless guy that no one
should hire as a private investigator. The
character is a comic relief, something
new to Gosling, and the reason why
he does not do an exceptional job.
funny, hardedged and

unexpected, the
kind of film they
should make
sequels to.
Gosling is a great young actor, and

serious characters are what he should
probably stick to.
But Crowe is a revelation. He always is.
He has rarely given a bad performance,
probably because, unlike Gosling,
he has not tried playing a cartoonish
madcap. Healy is calm and macho, all
the things Crowe is best at doing. And
in one scene, where Healys former wife

discloses an outrageous secret, Crowe
surprises us by acting hysterically.
Shane Black was probably told to go and
do any film he felt like doing after the
predictable, profitable turnout of Iron
Man 3 in 2013. But that was only the
second film Black ever directed; his first
was the brisk Kiss Kiss Bang Bang. That
movie, like this one, featured murder,
kidnapping, black humour and a duo
trying to solve a complicated mystery
in the sunny city of LA. It was also a
much better film than this one, chiefly
because the dialogue worked. While
The Nice Guys has a pleasantly warped
plot and some funny scenes, Kiss Bang
was a hard film to nitpick.
The film ends after setting itself up for
a sequel. If it makes enough money,
we get another movie with the same
characters. History promises that
such a film would almost assuredly be
inferior. But let us take a step back and
deliberate. Cinema should rise above
the current orgy of remakes, prequels,
spinoffs and, of course, sequels. But
it will not, at least not anytime soon.
Not with the box office numbers a
franchise promises. As long as we are
stuck to the insipid rhythm, we might
as well start looking forward to it. The
Nice Guys is not a superhero movie or
a mindless comedy. It is a smart film
with an interesting plot and lovable
characters. It is also funny, hard-edged
and unexpected, the kind of film they
should make sequels to.
$9.9M
Weekly Revenue
X-Men: Apocalypse
$9.0M
Weekly Revenue
Me Before You
$6.6M
Weekly Revenue
Angry Birds
$5.6M
Weekly Revenue
Alice Through the

Looking Glass

$4.3M
Weekly Revenue
Captain America:
Civil War
10

$2.8M
Weekly Revenue
The Jungle Book
Coming Soon
THE SHALLOWS
june 24, 2016
P ag e 43
ECONOMIC AND INVESTMENT INDICATORS
ECONOMY BY GRAPH
For the procurement of Iron Bed

Tender No. 3529003. Ethio telecom.
Address: P. O. Box 1047, Addis Abeba.
www.ethiotelecom.et. Closing date: June
28, 2016. Publication: The Ethiopian
Herald, June 8, 2016.
For the procurement of Different
Yyres, Tubes and Flaps Tender No.
3529006). Ethio telecom. Address:
P. O. Box 1047, Addis Abeba. www.
ethiotelecom.et. Closing date: June
For the supply of Medical Equipment
and Device for Hospitals and Health
Centre. The Biftu Adugna Business S.C.
Tel. 011 553 37 46/39/40/011 827 21
13/011 83 33 631. Closing date: June
For the procurement of Construction
of G+8 Office and Lab for Amist Kilo
Campus. Addis Abeba University. Tel.
0111 24 32 72/0111 220001. Closing
date: June 29, 2016. Publication: The
Ethiopian Herald, June 8, 2016.
For the procurement of Live chat/API
(Tender RFQ No. 3527009). Ethio
telecom. Address: P. O. Box 1047,
Addis Abeba. www.ethiotelecom.et.
Closing date: July 4, 2016. Publication:
The Ethiopian Herald, June 7, 2016.
Currency
for SMC with RFQ No. 3526009. Ethio

telecom. Address: P. O. Box 1047,
Addis Abeba. www.ethiotelecom.et.
Closing date: July 7, 2016. Publication:
The Ethiopian Herald, June 7, 2016.
For the procurement of 1 Deep Well
Drilling and Construction in Kunaba
Wereda. The Afar National Region
Water Resources Bureau. Tel. +251
336 660044/+251 338 669210. Closing
date: July 12, 2016. Publication: The
Ethiopian Herald, June 11, 2016.
For the supply of Lot 1. 2,180 Tons
Sulphur, Lot 2. 200 Tons Aluminum
Hydroxide. Awash Melkassa Aluminium
Sulphate & Sulphuric Acid S.C.
Tel. 022 225 02 43/48/46 Awash
Melkassa, Mob. 091150 02 20/0911
84 02 18. Closing date: July 10, 2016.
Publication: The Ethiopian Herald,
May 20, 2016.
For the procurement of construction

of Wollo Tertiary Care & Teaching
Hospital (WTeCaH) Post-Graduate
Building Blocks at Dessie. Wollo
University. Tel.+ 251 33 811 93
09/93 11. Closing date: July 12, 2016.
For the procurement of Integrated Publication: The Ethiopian Herald,
Wall Mounted Monitoring LED Screen June 7, 2016.
Selling
US Dollar
21.7319
22.1665
Pound Sterling
30.6963
31.3213
Euro
24.2615
25.8756
Swiss Franc
22.4434
22.8721
Swedish Kroner
2.5871
2.6332
Norwegian Kroner
2.6434
2.6949
Danish Kroner
3.2632
3.3257
Djibouti Franc
0.1221
0.1259
Japanese Yen
0.2028
0.2024
Canadian Dollar
16.6937
17.0174
Indian Rupee
0.3229
0.3292
Kenyan Shilling
0.2143
0.2188
Australian Dollar
15.9556
16.2698
SPECIAL DRAWING
30.424700
30.002700
South African Rand
1.4071
1.4349
Chinese Yuan
3.2973
3.3621
2500
2447
2089
2000
2066
1500
1210
1000
881
547
239
500
395
0
CHINA
TURKEY
INDIA
USA
NIGERIA
S.ARABIA
Country of Origin
Currency
Buying
Selling
US Dollar
21.7319
22.1665
Pound Sterling
30.6963
31.3213
Euro
24.2615
24.7556
Swiss Frank
22.5828
22.6357
Swedish Kroner
2.5828
2.6857
Norwegian Kroner
2.5871
2.6398
Danish Kroner
3.2632
3.3290
Djibouti Franc
0.1221
0.1261
Japanese Yen
0.2018
0.2124
Canadian Dollar
16.6941
17.0341
Saudi Riyal
5.7941
5.9111
UAE Dirham
5.9167
6.0352
Central Africa Franc
0.0120
0.0122
Birr is expressed in terms of one unit of

each foreign currency applicable on
June17,2016 Source: Commercial Bank of
Ethiopia.
Please send us your events for next week

by email to theweekahead@addisfortune.
com. We will print your information in this
corner of our publication for free.
Use the opportunity to promote
your big events.
SUDAN
N.LANDS
PAKISTAN
YEMEN
Source: eep
Last updated on -Jun-2016

Location
Vessel
Voyage
Latest
position
Latest
position
Date
Expected
Position
Expected
Arrival
Date
Destional
AFRICA
SEA
PORTS
SERVICES
GLOBAL S
TANDARD
08WB
At
Djibouti
14 Apr
ETB
Reverting
Chartered
Vessel
AFRICA
SEA
PORTS
SERVICES
M/V
Golden
Eagle
At
Richards
Bay
03 Jun
ETC
Richards
Ba
06 Jun-
Chartered
Vessel
AFRICA
SEA
PORTS
SERVICES
M/V
PETRE
At Sea
ETA
Djibouti
10 Jun
Chartered
Vessel
FAR EAST
PORTS
SERVICES
M/V
TRANSTIME
At
Djibout
04 Jun
ETC
Djibout
21 Jun-
Chartered
Vessel
BLACK
SEA
PORTS
SERVICES
Gambella
23 SB
At
Djibouti
28 May
ETB
Reverting
BLACK
SEA
PORTS
SERVICES
M/V New
Venture
01
At
Djibouti
09 May
ETB
Reverting
Chartered
Vessel
BLACK
SEA
PORTS
SERVICES
Mekele
16 NB
At
Aliaga
ETB
Aliaga
Reverting
Charter
FAR EAST
PORTS
SERVICES
Assosa
13 EB
At
Shanghai
27 May
ETD
Shangha
06 Jun
FAR EAST
PORTS
SERVICES
Assosa
13 EB
At
Shanghai
27 May
ETA
Tianjin
08 Jun-
Business Calender 2015
ECX
259 219
Exchange Rates
for Cash Notes
For the supply of Lot 1. Mechanical

Spare Parts, Lot 2. Instrumentation
Spares Part, Lot 3. Electrical Spare
Parts, Lot 4. Sulphur dosing Pump, Lot
5. Smoke Detector, Lot 6. SoSo Gas
Analyzer. Awash Melkassa Aluminum
Sulphate & Sulphuric Acid Share
Company. Tel. 011 442 03 78 AA,
022 225 02 66, Mobile 0911 50
02 20. Closing date: July 12, 2016.
Publication: The Ethiopian Herald,
June 9, 2016.
For the supply of 1. To Automate

Insurance Supervision Functions.
National Bank of Ethiopia. Tel. +251
11-5-17-70-07. Closing date: July 5,
2016. Publication: The Ethiopian
Buying
Top ten Foreign Direct Investment Flow by Capital( 1992-2015)

Foreign Direct Investment( in millions of Dollar)
Exchange Rates
for Transactions
Source: Ethiopian Shipping Lines.
Benchmark Currency Rates

CURRENCY
VALUE
EUR-USD
1.1268
0.0008
GBP-USD
1.4152
-0.0052
-0.37%
USD-JPY
103.7900
-2.2200
-2.09%
AUD-USD
0.7357
-0.0050
-0.68%
USD-CAD
1.2964
USD-CHF
0.9598
21Jun-23 2016
NEPCON West ChinaElectronics Manufacturing and

Microelectronics Exhibition
Chengdu, China,
PR
Business sectors: Electronics
Business sectors: Real Estate
Beijing, China,
PR
15Jul-16 2016
Pharma South-Pharma Bio World Expo South Exhibition and Conference
CHANGE
% CHANGE
+0.07%
0.0052
+0.40%
-0.0016
-0.17%
Source: www.bloomberg.com.
his chart displays the exchange rates of eight major world currencies. Scan
across the chart to find the rate of exchange between any two of the currencies.
June 11, 2016
24Jun-26 2016
Overseas P+I-Beijing Overseas

Property & Investment Immigration
Exhibition
Destional
Arrival
Date
Chennai, India
B usiness sect o r s : B iotechnology,
Pharmaceuticals
Last updated on, June17, 2016.
The future belongs to the things that can grow, whether it be a

tree or democracy.
Kenneth D. Johnson
International Hard and Soft Commodity Prices

COMMODITY
GRAINS
Coffee 'C' Future (Usd/Lb.)
Corn Future (Usd/Bu.)
Soybean Future (Usd/Bu)
Wheat Future (Cbt) (Usd/Bu)
LIVESTOCK
Live Cattle Future (Usd/Lb)
MINERALS
Gold 100Oz Future Usd/T Oz)
SOFTS
Sugar No. 11 (World) (Usd/Lb)
INDUSTRIALS
Cotton No. Two Future (Usd/Lb)
Price
Change
% Change
5
5
5
5
141.40
423.00
1,126.75
476.75
+1.30
-3.50
-11.75
-0.75
+0.93%
-0.76%
-1.03%
-0.16%
113.58
-1.42
-1.24%
1,310.40
+15.08
+1.17%
20.02
+0.17
+0.86%
64.31
+0.69
+1.08%
These international commodity prices are indicative of future prices as speculated by market analysts.
They are, therefore, subject to change. They are in US dollars, and the prices recorded are those of
June 16, 2016.
P ag e 44
LEISURE
Aries
This week, you may find it a bit hard to complete your duties
on time. But do not worry as these problems are minor and
can be solved with extra effort. Obstacles will be reduced towards
the middle of the week. You are likely to be entrusted with additional
responsibilities but your seniors support you in all your endeavours.
PART SEVEN
DISCLOSURE OF INFORMATION
AND INSPECTION OF BANKS
28. Disclosure of Information

5/ The Board of Directors of a bank shall, jointly
or severally, immediately report in writing to the
National Bank where the following happened or
likely to happen that the bank:
a) cannot meet its obligations to its depositors
or other creditors;
Taurus
This is a good week for you on the career front. You are
likely to see an increase in your income soon. Your good
work will be appreciated and you may get to handle an
important project. Fashion designers and artists will find this a
good time to move forward. You may soon showcase your talent
internationally.
Gemini
This week the guidance of an expert or a colleague will
motivate you to achieve more on the career front. You will
benefit from this opportunity and learn a lot from his experiences.
This is a good week to make decisions regarding your future. Models
may may need to struggle though. You may also not get selected
for a desirable project.
Cancer
Your hard work and dedication will help you achieve some
of your career goals. The essential element for attaining
your dreams is your own personal will to achieve them. Your
inexhaustible energy will help you focus on your primary goals and
you will see your dreams come true. This week you will prioritise
what is important.
Leo
This week you may learn that your job will be transferring
you to another location or that you have decided to take
a job in a different city than you live in now. Do not be scared of
taking this step as this will prove to be vital in the enhancement of
your career. You may have to uproot yourself for work sometime
soon. This will be a positive move.
Virgo
You find yourself brimming with creative ideas this week.
They will be appreciated and you will come closer to
success. Your attitude towards work will inspire your team to work
hard. However, do not handle too many tasks at the same time as it
may leave you feeling exhausted. Do one thing at a time this week.
Libra
There are indications that you might get a promotion that
will take your career to greater heights. Make sure that you
take advantage of this opportunity and show your best at
work. You will benefit by taking on additional responsibilities and
completing your set targets on time. Your leadership skills will be
enhanced and you will impress others..
Scorpio
This week challenging situations are indicated at your
workplace. Your self-confidence and presence of mind
help you come out of this situation without difficulty. Great overseas
opportunities are indicated especially towards the middle of the
week. You will benefit from this opportunity and get a chance to
display your skills and talents.
Sagittarius
This week you will experience positive changes in your
life. You will see growth in your career. Any new contacts
you made in the past few days will prove beneficial to you.
You will receive promotions and perks. For those in business, they
will be able to clinch deals that have been pending for so long. Any
issue related with your work will be resolved.
Capricorn
This week starts with your inner desire to succeed and
attain your goals. AstroYogi astrologers say this will mark
a start of growth in your career path and your hard work will pay
off in appreciation, recognition and success. The comings days
bring benefit and positive results. As Mercury rules Capricorn, you
feel inspired and motivated by power, status and wealth.
Aquarius
A new job that you get will allow you to use your creativity
and innovation. Your ideas are appreciated and you make
a good impression on your seniors and colleagues. Teamwork will
help you achieve much better results and also achieve your goals on
time. A collective effort will help you achieve targets and enhance
career prospects.
Pisces
There will be good developments in the career sector for
many of you. Students, do your best and you will soon get
into the kind of job that you want, especially those who want to do
engineering. Traders and businesspeople, if you want to expand
your business, do so towards the weekend. Women and models
looking for a job will be given good opportunities.
he Revolutionary Democrats
have finally come around to
realise what is going on in the
The
economy they have helped to
keep up and running for over a decade
now. With the increasing incursion into
the economy by the Chinese, the Turks and the Indians,
the issue of who should own national assets was a hotly
debated subject at a recent senior level meeting of the
EPRDFites, gossip disclosed.
Presided over by EPRDF Chairperson, Hailemariam
Desalegn, the meeting was a sort of informal session
whereby veteran and contemporary leaders of the party
congregated, claims gossip. Based on a paper presented
at the meeting, the leaders expressed their commitment
to seeing the indigenous private sector galloping to take
the heights of the economy, but conceded that the ruling
party has not done much to realise this, gossip disclosed.
For first generation EPRDFites, whose roots are on the
left side of the political spectrum, this policy entails the
emergence of a bourgeoisie class seen through Marxian
analysis as a class which controls societys wealth and
means of production.
In their rebellious youth, the veterans fought hard to
dislodge such this budding class from power and position,
hence, a concern by some not to see the replay of the
1950s and 1960s, claims gossip. Ironically, the choice left
for them is to remain bystanders when foreign investors,
particularly of Asian origin, control key sectors of the
economy, according to gossip.
Creating ideological clarity on this fundamental issue
dominated the meeting two weeks ago, gossip revealed.
The dividing lines were between those leaders who are
worried such acknowledgement of the place of the
indigenous bourgeoisie may compel them to rethink the
long-held position of the EPRDF on

the subject, claims gossip. Outspoken
in this group were leaders such as
Hailemariam, Seyoum Mesfin and
Getachew Assefa.
Others are, however, bent to believe
any remote proposition of new thoughts away from the
partys traditional political line is a revisionist agenda of
undoing the teachings of their late leader, Meles Zenawi.
Not surprisingly, this group of leaders led by Azeb Mesfin,
his widow, stood their ground defending the unadulterated
prescription from Meles on how the nations politicaleconomic affairs should be run, gossip disclosed.
Whether the party can change its feathers in its pragmatic
response to changing global realities was also an issue that
provoked an animated exchange of words, claims gossip.
Meles never believed the party is static, thus, would not
change for eternity, some have argued, says gossip.
Upon taking political power in 1991, the EPRDF changed
its colours knowing that the change at a global scale was
not favourable to the ideological convictions its leaders
had brought from the field, gossip recalled. A decade
later, during the political crises which rocked the top
leadership, Meles was the first to pen his thoughts in
the famous Bonapartism paper, thus paving the way for
readjustment of the partys many policies, says gossip.
It appears that the party is entering another decade of fault
lines between those who are committed to seeing Meles
writings implemented to the letter and others who are
promoting the idea of pragmatic change, claims gossip.
Ironically, the partys leadership is increasingly dominated
by the second generation of the Revolutionary Democrats
who find themselves in the latter camp, according to
gossip. Yet, the ideological battle within the EPRDFites is
just the beginning, claims gossip
fine ine
Test 1
solve each anagram to find two
phrasethat arespelled differentiy but
sound alike?
Test 2
pair the eight words below to from longer
words
IRON,LORAD,FIRE,WORK
MAIN,GRIND,WOOOD,LAND
Test 3
Insert a word what that complets the
first word and starts second
DO( _ _ _)NECK
Answers from last week:

5+(8/4)+9(9/2)+7
Test 1 =5+2+18+7=37
0.375
Test 2
38X2(+2)=78
39X2(+2)=80
58X2(+2)=118
Test 3 74X2(+2)=150
Answers next week...
A husband said to his wife, I was a fool when I

married you.
I know, she replies. But I was in love and didnt
notice.
If it werent for marriage, men would go through
life thinking they had no faults at all.
P ag e 45
Tafari Wossen
May 9, 1940 - May 10, 2016
OBITUARY
Tafari Wossen, Journalist, PR, Communications Guru
he first son of a nobleman, he was born to rule. But he lived a

humble life markedly different from his earlier beginning when
he claimed the title of Viceroy" at the age of three. As a direct
descendant of the once powerful Zagwe dynasty, and perhaps
the last, this was the same path his father and his grandfather before
him had taken before they were appointed as Wagshum.
It was the highest feudal title passed on to the family from the days of the
Kingdom of Zagwe, a dynasty that ruled for nearly 400 years, beginning
in the year 900 AD. It was a glorious period for the People of Agew from which the name Zagwe was derived - with the fingerprints of that
era still erected in the rock-hewn churches of Lalibela built during the
reign of King Gebremesqel Lalibela.
As an adult, Tafari was at ease with his confounding family legacy, often
cracking jokes about it. It could be due to the influence his Italian
mentor had on him while growing up in the remote and small town of
Sekota, now in Wag Himra Zone, in the Amhara Regional State. It was
a turbulent time for Ethiopia and the world.
The Italians were in their fourth year of occupying the country after
a bitter and deadly war which saw Emperor Hailesellasie leaving the
country for Europe, to appeal to the conscience of the world. Tafari's
grandfather, Wagshum Hailu Kebede, continued the resistance and
was killed by the Fascist forces, while his father, Wagshum Wossen,
kept the struggle alive.
When Tafari was born on May 9, 1940, Europe was on the edge of
starting the Second World War, thereby heralding the end of the Italian
occupation ofEthiopia. After the Italian forces were crashed in East
Africa at the Keren front, it was obviously a matter of time before Tafari`s
father was reinstated as a leader of his people with his deep knowledge
of our country`s history as Tafari recalled.
His father`s men had tried to transfer this deep knowledge to Tafari,
for he had seen little of his father growing up among the patriots. He
sat in court; visited prisons and granted pardons; attended church at
Medhanialem built in 1893 by his great grandfather whose name he
inherited, and where the remains of both his grandfather and greatgrandfather were laid to rest and can be found today.
I was taught how to shoot and ride a horse, Tafari recalled once
speaking before an audience at the Institute of Ethiopian Studies at the
Addis Abeba University. People were constantly around me guiding me
on what to do and say, and the right way to behave.
And behave he did. Groomed by Romano Gino, an Italian doctor whose
life was spared by his father from the wrath of patriots, the two lived in a
building his father took away from the Italians and Romano thought him
to speak and write Italian. Tafari remembered he used to write letters
to his father in Italian and sign the as Tafari Romano.
Romano was more of a father to me during my childhood than my
own father was, said Tafari.
In fact, he used to address his father as Getoch, literally translated as
Lord.
I lived, effectively, in a military garrison, Tafari recalled. I was not

allowed to go out of the compound without an escort; or to play with
other children, except those who were invited to visit me. Wherever I
did go, fifty or more guards would accompany me.
If it was a trek to travel to Korem, a little over 100Km to the west, the
journey would have taken an entourage of over 100 people. They would
ask him how he would reward them for their loyalty once he became
Waag Seyoum.
The young patriots of Waag, never doubted that.
It, nonetheless, was short-lived power and privilege. First, his father, who
was seen as a threat to the monarchy in Addis Abeba was sent in 1951
to Greece as an ambassador, never to return to Sekota until his passing
in the mid 1980s. Tafari saw it as a form of banishment, designed to
keep him away from Waag.
But the entire system that bestowed privilege upon survivors of dynasties
was dismantled in the mid-1970s by the military government, a.k.a.
the Dergue.
It was almost a decade since Tafari had returned from England where
he had spent a his formative years. Although he loved England, he never
Tafari was among the first to kindle

the light on the importance of a voice a
community ought to own.
felt at home. He therefore returned to Ethiopia in the early 1960s.

The impact of his years in England attending boarding schools was
enduring, he was later on more comfortable engaging in conversation in
English. His first job was a programme producer for the English Service
of Radio Ethiopia, under the Ministry of Information.
His decade-long stay there made him a name for hosting two popular
radio shows at the time: Listeners` Choice and Parade. More than
the publicity though, he had cemented a lifelong passion for radio,
public relations, communications and filmmaking. The highlight of his
career came, however, in the mid 1970s when he found himself at the
centre of historically unfolding events of both national and international
significance.
Working as Chief of the Public Relations Department at the Ministry
of Information, Tafari assumed a historical role in helping the BBC
journalist, Jonathan Dimbleby, expose the The Unknown Famine to
the rest of the world. The dreadful and powerfully distressing images
of hungry Ethiopians finally contributed to the downfall of Emperor
Hailesellasie.
Again, a decade later, he found himself at the centre of an event of global
importance working as spokesperson of the Relief & Rehabilitation

Commission (RRC) during the worst famine of 1984/85, which is
believed to have claimed the lives of close to one million people. If he
was not to govern people as a Viceroy, he was however able to serve
them during trying times, taking international celebrities such as Harry
Belafonte and Bob Geldof who were mobilising humanitarian aid to the
epicentre of the famine, Korem, 602Km north of Addis Abeba.
Serving the Commission for five years until 1989, he left the civil service
to join the United States Embassy in Addis Abeba, working as Information
Assistant and stayed a year after the fall of the military government.
Given my ancestry, many people are surprised that I did not go abroad
when the revolution began in 1974, said Tafari. I was determined not
to be a stranger to my country again.
In 1993, Tafari established a media and communication consulting
company bearing the name of his ancestral land, WAAG; it was a vehicle
where he had claimed the height of his professional career. Not only
did he consult high value clientele such as the US Embassy, Centre for
Foreign Journalists, USAID, InterAfrica`s UN-funded Radio Voice of Peace
for Somalia, UNICEF and UNDP. He had also played major roles in the
production of iconic international films titled, Shaft in Africa in 1972;
The Big Battalion in 1992; and Endurance in 1996. The last one was a
feature film depicting the life of the track star Haile Gebresellasie (Maj.).
What makes Haile different from the others is that he overcame
complacency, Tafari said this in 2007 during a CNN interview. His
determination to prepare for the next challenge, rather than be satisfied
by the past achievement . . . is a gift he gave to Ethiopia.
Not surprisingly, his passion for films began when he was assigned to cofound what was then the Ethiopian Film Corporation, under the Ministry
of Culture, where he was assigned to head the film production division.
One of his accomplishments while at the Corporation was the production
of a 16mm two-hour film titled, Victory Struggle, documenting the first
five years of the Ethiopian revolution.
Under his company, the yellow coloured Seven Days Update, a weekly
news review, began to circulate, dominating the scene in Addis Abeba
in the 1990s and 2000s. More popularly though, a weekly radio show
known as Dewel, focusing on social issues, claimed the airwaves,
thereby igniting another passion during his later years for the
establishment of community radio across the country. Although not
involved in providing leadership in the operations of community radio
stations, now numbered 17, Tafari was among the first to kindle the light
on the importance of a voice a community ought to own.
History may have relegated him to the fate of not being remembered
as a ruler of his people as his was destined to be in the beginning. But,
Tafari is sure to be remembered for his relentless drive to help others
in need and endless enthusiasm for cordial engagement with others.
He is survived by his wife, two children and a granddaughter.
P ag e 46
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Volume 17 No.

842, SUNDAY, June 19, 2016

Ethiopian Shipping Lines Loses 19M Br to Forgery

(CBE), Finfine Branch. The Federal

the ESLSE account to the account of

Forensic Department of the Federal

card were all found to be forged

World Bank Loan to Ethiopia Hits Record High

Photo by: Geremew Tigabu

 One month after the

thiopia's loans secured

areas, an Eastern and Southern Africa

the lowest commitment recorded in

CBE Switching Systems in Bid for World Class Status

Dashen (870.8M Br)

BoA (462.3M Br)

Nib (467.5M Br)

United (579M Br)

AIB (801M Br)

LIB (226.3M Br)

BIB (198.6M Br)

Established in May 2000.

Volume 17, Number 842

The Revolutionary Democrats are aware of the structural imbalance

For a long time, Africa largely did without multiparty elections.

Rent Price, Building Numbers

Photo by: Geremew Tigabu

Commercial Information Agency Plc

Jemila Mohammed was busy packing

At the Cooperative Bank

pay 7,000 Br, double of what she had

that the shops would be demolished

thrive as her competitors that still

VIEW FROM ARADA

Fo rt u n e Vo l . 17 No. 842 J u n . 19, 2016

Photo by: Geremew Tigabu

without power, she said.

Jemila pays on the third floor. Her

Coffee (Arabica) $/kg

product features aimed at satisfying

Fo rt u n e Vo l . 17 No. 842 J u n . 19, 2016

Fo rt u n e Vo l . 17 No. 842 J u n . 19, 2016

World Bank Loan . . .

Road safety remains a major

The road system

(Cont'd from PAGE 1)

Besides ensuring road safety

A fresh border clash erupted between Ethiopia and Eritrea resulting

Read Less: Know More

Ethiopian Troops Home after Border Clash with Eritrea

Ongoing Drought Keeps Food Reserve under Threat

he febrile behavior of financial markets

Five New Vice Presidents as

competitiveness of the Bank. A

has already secured an endorsement

Acting Vice Presidents, for Resources

CBO has also adopted CBE's format

Fo rt u n e Vo l . 17 No. 842 J u n . 19, 2016

Fo rt u n e Vo l . 17 No. 842 J u n . 19, 2016

Half Billion Dollar Tobacco . . .

due diligence and value estimation

(Cont'd from PAGE 1)

for 10pc of the share.

One month after the

Excellent communication skills: presentation skill, interpersonal skill, people

By Matewos Berhanu