Over 50 people were killed on Monday in landslides in the Gofa zone in southern Ethiopia. The death toll is expected to rise. It rose to over 200, according to latest reports. Dozens of people lost their lives in sudden landslide accidents that occurred in Gofa Zone, Southern Ethiopia, at around 4:00 am on Monday….
Fano Commander Asegid Mekonnen was arrested by the Ethiopian security forces in an operation launched today. Aseged Mekonnen is one of the three main Fano militia commanders in the North Shewa zone of the Amhara region. Mekataw and Aseged are two leading Fano commanders in Shewa. Eskinder Nega, politician-turned-Fano commander, is the third one. The…
The Board of Directors of the National Bank of Ethiopia has issued a directive allowing banks to invest in the Ethiopian Stock Exchange (ESX). The banks can invest in and establish subsidiary capital market service providers, including investment banks. According to the directive, a bank may hold equity shares in a single Insurance company not…
Turkey is going to deploy its naval forces in Somalia to protect Somalia’s territorial waters. On Friday, a motion was submitted by the government of Türkiye at the Turkish parliament to authorize Turkish President to deploy Turkish naval forces in Somalia’s territorial waters. In February, Türkiye and Somalia signed a defense agreement. The motion submitted…
The Ethiopian Stock Exchange (ESX) is about to be launched. A new directive has been issued to establish Ethiopia’s first licensed stock exchange. The directive was issued this week by The Ethiopian Capital Market Authority (ECMA). The ECMA was established in 2021, tasked with regulating the capital market through directives. The newly issued “Directive on…
Ethiopian PM Abiy Ahmed is intervening in Sudan to put an end to the bloody war which broke out more than a year ago in Sudan. The Prime Minister last week visited Port Sudan and met with Abdul Fattah Al Burhan, the Head of Sudan’s Sovereignty Council and Chief of SAF (Sudanese Armed Forces). Al…
Nine Eritreans were sentenced to prison today. The Eritreans sentenced were involved in riots in Hague, the Netherlands. In February this year, dozens of opposition Eritreans stormed a program organized by a group of diaspora Eritreans in Hague. The organizers were allegedly affiliated with the Eritrean government. The venue was attacked by Eritreans aligned with…
Somalia and Türkiye have signed an agreement about the exploration of hydrocarbons in Somalia’s territorial waters. In January, an MoU was signed between Ethiopia and Somaliland. Somaliland is internationally recognized part of Somalia. Ethiopia is a landlocked country and has been using Djibouti’s ports for decades. This MoU stated that Somaliland will let Ethiopia use…
Somali & Afar regions have reached an agreement to solve their territorial dispute. Afar regional president Awol Arba and Somali regional president Mustefe Omar gave a press release today. Somali and Afar regions have been involved in a dispute over three kebeles. Three kebeles Undufu, Adaytu and Garbaisse are disputed between the two regional states….
The Government of Somalia, on Tuesday, asked people to return weapons looted. On Monday, large number of weapons that were being transported by government forces in central Somalia’s Galmudug state were looted by militia members and local residents in Abudwaq town. The stolen weapons had been smuggled from a neighboring country into Somalia. Security forces…