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Ethiopia gets new central bank governor.

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Ethiopia appointed a new central bank governor on Monday, state-affiliated media said, in a move that follows major economic reforms.

Yinager Dessie previously served as head of the National Planning Commission, a government body dealing with economic policy with the rank of a ministry.



The Fana Broadcasting Corporation report did not say why his predecessor, Teklewold Atnafu, was replaced.

The move follows major policy shifts enacted over the last two months.

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The stake sales are part of a series of measures announced by Abiy Ahmed, a 41-year-old former army officer who became prime minister in April. Abiy has said a new start is necessary to end a political crisis and chaos in a country of 100 million people, where 40 percent are aged under 15.

Abiy told parliament on Monday that the state will sell a 30 to 40 percent stake in Ethio Telecom to big telecoms companies and split the company in two to spur competition.

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Business

Absa became the new competitor on the Ethiopia market.

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Absa Bank Of South Africa’s  has become the Latest Multinational Corporation to show Interest in Organizing the Ethiopia market.

Ethiopia has since Prevented Foreign Ownership in Economic Sectors that Includes Banking but Abiy Ahmed has began to take fast Action on the issue since he came to power in April.



Jason Quinn, the bank’s chief financial officer, told reporters that Absa was investigating on how and where to enter in a number of populating market, including Nigeria and Angola.

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Am Entrance made into the Ethiopia market of 100 million People, would be part of a Scheme made by Absa after it break from Britain’s Barclays in 2017.

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Ethiopia has plans to liberalise state-owned companies including Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power, in order to attract foreign direct investment and stimulate growth.

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Motherland News

Black box of the Ethiopian Airline Crash recovered.

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The United Nations described the Sunday crash of the Ethiopia airline as disastrous saying it has cost them a great loss.



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Michael Moller, director-general of the U.N. European head garters said this was the worst loss suffered in years in Geneva in a statement where 150 people where gathered.

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Investigators in Ethiopia have recovered the black box from the ill-fated Ethiopian airline this Sunday.

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