gov’t to double s&p global indirect tax collection...the excise tax proclamation that is...

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Year 22, No. 1129 Sunday July 26, 2020 / Tel: +251-11 618 3253 | 11 661 0976 / Fax: +251-11 618 5206 / P.O. Box: 95/1110 Addis Ababa, Ethiopia / Price 10.00

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INSIDE STORIES

Thermometer guns Thermometer guns that screen people for fevers are said to be not working at all unless in a health facility

Jubilation On Sunday July 19, at exactly 10:00 pm the first phase of the filling of GERD was completed

Traditional helmets SMLH-ONM presented traditional helmets to the Association of the Ethiopian Korean War Veterans

ECX’s local window ECX opened a special trading window for local processers who use soybean as an input

Zero-profit drugs Novartis includes Ethiopia in the new zero profit initiative for medicines to treat major symptoms of COVID-19 10

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INTERVIEW

Fighting COVID 19To control the outbreak and spread of the pandemic the government has banned public gathering and declared wearing face masks as mandatory but that is not working to control the pandemic as the numbers of infected people increase day by day.

Tigistu Adamu

Gov’t to double indirect tax collection

By Muluken Yewondwossen

The government targets to double the current fiscal year indirect tax collection from the performance registered in the just ended fiscal year.Recently Eyob Tekalign, State Minister of Finance (MoF) told Revenue, Budget and Finance Standing Committee that for the year the government targeted to expand its revenue from indirect taxes that are mainly value added tax (vat), excise tax and others.Members of the standing committee raised their concern that due to the COVID 19 pandemic the economy will be affected, which also influences the tax collection operation.In his response Eyob explained that the government has considered the effect of the pandemic but it has mainly focused on indirect taxes than direct tax, which is mainly corporate or income tax.

“We will work strongly to expand the tax collection from indirect sources and reforms in the area are being done,” he explained.For the last few years the country was working to expand the tax base and on regulatory and enforcement areas to boost the tax collection, which is very low even compared with peers in Sub Sahara countries.In the last budget year MoF has also revised the excise tax proclamation that is expected to enlarge the revenue from this tax sector. The amended proclamation also gives a right for the government to revise the percentage every two years, which is a usual trend in other countries like neighboring Kenya.From domestic indirect tax the collection will be about 85 billion birr that is ambitious compared with the performance for the 2019/20 fiscal year. In the last fiscal year the revenue

S&P Global Platts to analyze global wheat market


Global market price will be the reference for financial opening of the latest procurement process of 400,000 metric tons of wheat after the Public Procurement and Property Disposal Service (PPPDS) hired a global company, S&P Global Platts, to analyze the global market for wheat procurement.On Friday July 24, the PPPDS has opened the bid for 400,000 metric tons of wheat that was initially floated in October 2019, after being cancelled in different occasions.Abeba Alemayehu, Procurement and Contract Administration Sector Deputy Director at


Ethiopian Shipping and Logistics Services Enterprise (ESLSE) announced that it started using Djibouti’s Port of Tadjourah, which received the first vessel on July 17 with Ethiopian cargo.Roba Megersa, CEO of ESLSE, told Capital that the port, which was idle for years, has now started giving service for Ethiopian cargo.He said that the vessel with cargo of coal arrived on July 17 and is transported to Ethiopia.Initially the port has been developed in the aim to transport mainly potash from Ethiopia’s Afar region, while the mining is not yet developed. Besides that the port has a potential to provide for northern Ethiopia.

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starts using Port of Tadjourah

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Year 22, No. 1129 Sunday July 26, 2020EDITORIAL

CAPITAL is a weekly business newspaper published and distributed every Sunday by CROWN PUBLISHING PLC.

CAPITAL is a registered newspaper with the Federal Democratic Republic of Ethiopia Ministry of Trade license number 14/673/21142/2004.

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MAGICAL THINKING

Magical thinking is becoming quite broad and frighteningly popular. When magical thinking pervades a society, widespread disconnect, followed by actively erupting disillusionment, is the inevitable

result. By and large, we believe the imports of these make believe phenomenon/magical thinking, in all spheres of socio-economic existence, is essentially due to the strategy of globally entrenched interests. All the major institutions of humanity are systemically geared to numbing the masses. It is not for no reason we affectionately call the ‘human mass’ of each and every society the ‘sheeple’ (sheep + people). Without the project of zombifying the sheeple (sorry for the redundancy) the world’s dominant interests cannot always get away with their ritualized murdering, so to speak! Here is a benign general definition. ‘Magical thinking is a type of thought process based on questionable cause and effect relationships. This can lead a person to hold false ideas and make poor decisions. In some cases, magical thinking plays some type of positive role that improves creativity or quality of life’. For us, a more nuanced and biting explication of the phrase is preferred, subsequently; ‘Magical Thinking’ is nothing more than a type of thinking fixated almost always on the magical, i.e., on the irredeemably irrational. In other words, it is thinking ‘outside of reality’! If magical thinking is widespread in a society, the possibility of rational thinking usurping power, hence responsibilities, is going to be remote. Such a situation is now prevalent in the majority of human collectives/societies. Why is the world having more and more individuals, people, corporations, states, etc., immersed in magical thinking? Our answer is simple; it is because late modernity is incapable of surviving actually existing reality! See the articles next column, on pages 30.Let’s use current and somewhat familiar examples to illustrate the point. In Ethiopia, private banks profess to pay a dividend of 50% per annum. Obviously, this is not a prudent business model, by any stretch of imagination. Elsewhere, such Ponzi utterances can easily start a bank run, but not here. It seems there is no room for rational reflection on such critical matters in our country. Be that as it may, it is obvious that banks play significant role in late modernity. Therefore, if banks are getting such basic fundamentals wrong, then one can imagine what kind of blunders other gullible economic actors are liable to make, invariably at the expense of the sheeple’s livelihood. Between our mighty industrialists, who are bravely assailing the formidable manufacturing challenge of bottling God given water in plastics, and the highly depraved tenderpreneurs/rentiers corrupting all state apparatus, the country’s hope of creating a capable modern sector is bound to remain only a pipe dream. But don’t sweat it too much; what we lack in creativity can be amply compensated with our unfailing magical thinking!Less than half a decade ago, the Ethiopian government was going around boasting that it had managed to raise a couple of billions of USD from the international capital market without a glitch. If memory serves us right, the underwriter/handler was Goldman Sachs. To critical analysts the whole theatrics seemed embarrassingly amateurish, if not out rightly imbecilic. As usual, we opined against such magical thinking, but to no avail. The magical thinking, backing the government’s decision was the unfounded belief in the country’s capacity to service the debt as well as pay the principal without sweat, i.e., without rescheduling or (anticipated) debt forgiveness. With plenty of useful idiots around (from the lenders’ point of view), our voices were drowned swiftly. Nonetheless, we fruitlessly continued to holler; these useless idiots (our sentiment) have no clue as to the real workings of transnational capital, financial, industrial, etc. Highly educated all the way up to complete daftness and subjugation, these cretins/useless idiots and their preaching were accepted as the epitome of erudition. Beware of false Prophets in late modernity, says the Good book! Trusting the Goldman Sachs of this world, on its own, is an example of unadulterated magical thinking. These so-called investment banks (before they collapsed in 2008 and changed their status to ordinary banks) have proved, time and again, their unreliability the world over. Greece was taken to the cleaners, never to recuperate, on the account of Goldman Sachs’ expensive ‘guidance’. During the last decade Africa was ordered to sing the tune; ‘it is time for Africa’ or in the parlance of the propagandists; ‘Africa Rising’, all on the back of another cyclical commodity boom, which was known to be short lived. Today, we are not singing but crying. Don’t expect our good for nothing elites/leadership (not only political) to self-flagellate for their gross mistakes. If anything, these states and their leaders are now working, yet again, on other unworkable projects (New Green Development, Sustainable, blah, blah.), mostly to collect pittance from the pushers of these initiatives (OECD countries)!Truth is; when the sheeple starts thinking magically, it tends to feel good. Achieving all our dreams through sheer desire is what one of the modern day philosophers from Hollywood’s ivory tower is advocating. “I operate from a place of delusion - that’s what the Fame is all about….I want people to walk around delusional about how great they can be-and then to fight so hard for it everyday that the lie becomes the truth.” Good Day!

COMMENT

Is the United States a Failing State? A Failed State?

To ask whether the United States, the world’s dominant military power, is ‘a failing state’ should cause worldwide anxiety. Such a state, analogous to a wounded animal, is a global menace of unprecedented proportions in the nuclear age. Its political

leadership is exhibiting a reckless tendency of combining incompetence with extremism. It is also crucial to ascertain at what point a failing state should be written off as ‘a failed state’ for which there is no longer a clear path to redemption. The November elections in the United States will send a strong signal as to whether the United States is failing or has failed.Even raising these issues suggests how far the United States has fallen during the Trump years, despite already being in sharp decline internationally ever since the Vietnam War, and continuing, despite a few redemptive moves (now renounced), during the Obama presidency. The responses of the Trump presidency to the two great crises of 2020 were helpful in solidifying the image of the world’s #1 state as truly failing, and not just sour grapes taking the form of an expression of partisan frustration with an appalling leadership. It was appalling because it was affirming the most regressive features of the American past while unconvincingly claiming credit for the stock market rise and low unemployment. The COVID-19 pandemic and Black Lives Matter campaign against systemic racism gave Trump the opportunity to exhibit his lethally systemic incompetence as a crisis manager producing thousands of deaths among his own countrymen. He also seized the occasion to show the world his seemingly genuine racist solidarity with the Confederate spirit of the American South that tried to split the country and preserve its barbaric slave economy and supportive culture in the American Civil War 150 years ago, and has been a sore loser ever since.With these clarifying developments, it no longer captures the full reality of this downward trend to be with content by calling attention to America’s ‘imperial decline.’ In the present setting, it seems more relevant to insist on describing America as ‘a failing state,’ and try to understand what that means for the country and the world. To make the contention more precise, it is instructive to realize that the United States is not only a failing state, but the first instance ever of a failing global state, which takes due account of its multi-dimensional hegemonic status as concretized by the planetary projection of its military might to air, land, and sea, to space and cyber space, as well as by its influence on the operation of the world economy and the character of popular culture whether expressed by music or cuisine.There are several measures of a failing state that cast light on the American reality: � functional failures: inability to respond adequately to challenges

threatening the security of the society and its population against threats posed by internal and external hostile political actors, as well as by ecological instabilities, by widespread extreme poverty and hunger, and by a deficient health and disaster response system;

� normative failures: refusal to abide by systemic rules internationally as embedded in international law and the UN Charter, claiming impunity and acting on the basis of double standards to carry out its geopolitical encroachments on the wellbeing of others and its disregard of ecological dangers; patterns of normative failures include endorsements of policies and practices giving rise to genocide and ecocide, constituting the most basic violations of international criminal law and the sovereign rights of foreign countries; the wrongs are too numerous to delimit, including severe and systemic denials of human rights in domestic governance; economic and social structures that inevitably generate acute socio-economic inequalities on the basis of class, race, and gender.

Some additional considerations accentuate the failing state reality of the U.S. due to the extensive extraterritorial dimensions that accompany the process of becoming ‘a failing global state.’ This new type of transnational political creature should be categorized as the first historical example of a ‘geopolitical

Continued on page 30

By Richard Falk

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Year 22, No. 1129 Sunday July 26, 2020 OP-ED

Interestingly enough, the past weeks’ destructions

provoked the first embryonic unity

of citizens in Addis Ababa

Continued on page 6

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By Kebour Ghenna

Who in Ethiopia is happy today? The Afars, the Amharas, the Oromos, the Tigrays’. Who? As a matter

of fact our history hardly finds moments where people enjoyed happiness, liberty, or even wild abandon. Ours is a history of ethnic violence, nationalities, battle, blood and territory. Ethiopia in the era of Jawar and Bekele (now in detention) appears to be re-inventing a new religion of ethnicity. In accordance with our culture’s declining intellectual prowess, our new creed in the year 2020 is a very simple faith, with one Oromo-and-Amhara dogma: Oromos are great, Amhara’s are dull. Everything else follows inevitably. For example, Amharas are wrongdoers and must be disciplined, while Oromos are saints and must be pampered.Last weeks’ destruction in Oromia region is what interests us today. The rampant destruction directed towards Amharas in few Oromia towns following the murder of Hachalu Hundessa is what jolted Ethiopia in early July. All day the so called ‘Keros’ intimidated and attacked Amharas and non-Oromos causing massive devastation to towns, the like of which has never been seen in Ethiopia’s recent history. As one Shashemene resident supposedly said “All the people could do was pray.” These gangsters were organized, incited, and committed by extreme political party operatives. For reasons that are obscure, the state security forces acted like they were either on the side of or afraid of the destroyers. [Notice, not one top official from the regional or the federal government was terminated, no one resigned, and no one took responsibility for failing to prevent or stop these crimes against humanity … No one!... Yes, some mid level bureaucrats and officials suspected to have ties with the attackers seem to have been arrested. But nothing else!]We only bring these issues because we hear a lot of words, but we don't see much happeningFor background… killings, looting, or taking of goods by force and causing destruction to businesses owned by Amharas have been increasing in Oromia since the latter years of Hailemariam’s administration. In most, if not all instances these incidents have been tolerated. While this reality left many citizens bone-weary with the shock and frustration that no decisive action is taken, and that political leaders calling for “hate the man or woman who’s not Oromo” persist, the country will remain in danger of lapsing into a state of civil unrest. These extremists always ignore or belittle the enormous success of millions of Oromo people over the generations in enriching economic, political, intellectual, social, and cultural life in Ethiopia. They want their followers to riot, set fires, and attack and even kill innocent people. For what? To grab power and prosper while everyone else struggles, suffers, and dies.In the wider context of the political transformation of Ethiopia, a more fundamental debate should have taken place following the rise of Prime Minister Abye Ahmed to power. In particular, discussions on inequality, justice, failure of institutions, predation of wealth, should have been contemplated… there was none. Instead, the same old politics

We cannot pretend as if nothing happened

continued. The state, this time again, became nothing more than a vehicle for Oromo polity domination. Today, maintaining political balance and diffusing ethnic tensions is the only way the country can survive. If the Federal government fails to maintain these essential functions, the destruction and mindless mayhem can turn the still controllable risk into uncontrollable. Add to it Covid-19 in a country where poverty, growing inequality and disregard for human life are thriving, and in which legal and economic policies are increasingly designed to create and sustain wealth for the powerful, but not end poverty, any fool can see that we’re all heading for disaster.Interestingly enough, the past weeks’ destructions provoked the first embryonic unity of citizens in Addis Ababa. Most of the city residents stood firm and prevented an actual fight and the possibility of general damage that could easily have brought havoc to the city. This time over AA residents did not let the thugs take over. Still, plenty of damage has been done to businesses, personal lives, undefended buildings, and the public interest.I think and I hope, more and more citizens of AA, with increasing understanding and courage, will develop a much greater and more systematic level of organizational control in defending their city from hooligans. Even better, why not organize to seek political representation in kebele or zone-level decision-making conversations about how to best strengthen communities and increase shared economic prosperity? Organized communities act as stewards by building community wealth, empowering community voice, increasing resident participation and enhancing community conditions through neighborhood organizing. More specifically, many such communities galvanize residents and together push for transformative neighborhood changes including security, job creation, housing unit production and small business support.Dear readers, thuggery never brings prosperity to a nation, but benefits only a few shameless opportunists, while to the country as a whole it heralds countless deaths, widespread impoverishment, and, in the gravest cases, a long-lasting degeneration of the people. It’s therefore critical for this government to face reality and launch a deeper political, social and economic transformation to restore normalcy, rebuild the unity of Ethiopia and put in place an economy designed to serve the people.

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Year 22, No. 1129 Sunday July 26, 2020Advertisement

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Year 22, No. 1129 Sunday July 26, 2020 Local News

Thermometer guns in the country gravely incorrect

Jubilation as the first phase of GERD filling completed

By our staff reporter

On Sunday July 19 at exactly 10:00 pm the first phase of the filling of the Grand Ethiopian Renaissance Dam (GERD) was completed. After that Prime Minister Abiy Ahmed congratulated all Ethiopians on the completion of the first phase of the filling of GERD on July 21. The country glows with proud moment where everyone walks with their heads high the following day. Many took it to the social media to announce their excitement. “Beautiful view, It is really great, This is historic

achievement, congratulations Ethiopia,” tweets by the name Idris M. Sanusi from Nigeria. “Ethiopia has the right to use Nile waters because 86% of waters originates from Ethiopia. Nile dam in Ethiopia is my dam! Its my dam! Ethiopia deserves a fair share!” wrote another by the name Belay. Some weeks back Prime Minister Abiy had justified the start of filling the Renaissance Dam due to the heavy rainfall season. Capital also wrote the start of the filling of the GERD two weeks back saying that it started on July 8. The idea of a massive hydroelectric project on the upper Nile River, in the Ethiopian

highlands, has been a dream since the days of Ethiopian Emperor Haile Selassie in the 1960s. But it wasn’t until 2011 that the Grand Ethiopian Renaissance Dam got underway in earnest-and ever since, relations with the downstream countries Sudan and Egypt have been fraught. For Ethiopia, whose citizens bankrolled the USD4 billion+ project, the dam is not just a way to provide electricity to a power-starved corner of the continent but has become a point of national pride and emblematic of the country’s ambitions as a regional power. The massive dam, Africa’s biggest, has

become a flash point of geopolitical tensions between Egypt and Ethiopia. However During the last 12 days of the filling resident in Cairo told Capital that they have not seen any significant change on the Nile in Cairo. “I have been living here for many years, and I always cross the Nile to commute to work, and in those days I have not seen anything unusual in the Nile,” said one resident of Cairo who asked anonymity.Ethiopia made it clear that it would continue the dam project despite lingering disagreements with other Nile-dependent countries, and in fact it began filling the massive reservoir behind the dam this month, taking advantage of Ethiopia’s rainy season. Egyptians fear Ethiopia will fill the dam over a period of just a few years, which could choke off water supplies that Egypt needs downstream, especially for agriculture. The Ethiopian government says the pace of filling shouldn’t affect Egypt’s allotment of water, and it further maintains that Egypt has used more Nile water than it’s entitled to for decades.

By Metasebia Teshome

Thermometer guns has become an iconic image of the coronavirus outbreak in the world and in Ethiopia: a masked official aiming what appears to be a small white pistol at a traveler’s forehead. In our case apart from the officials at airports, security guards at every hospital, office, business center, bus station, mall and hotel will hold the gun to your head to screen people for fevers so as to prevent the spread.The device is equipped with an infrared sensor that can quickly measure surface temperature without making any contact with a person’s skin. In recent years, it has become an important tool for countries scrambling to contain viral outbreaks. It was widely used to try to slow the spread of SARS and to curb the Ebola outbreak.Thermometer guns are said to be unreliable outside carefully controlled health care settings, according to medical officials and experts on infrared devices.According to Tigistu Adamu (MD), an advisor at the Ministry of Health, the devices need series calibration to be reliable. “The devices cannot be precise in certain environments or when someone has taken medication to suppress fever,” Tigistu said.“Once the thermometers start to show inaccurate information the device need to be calibrated otherwise it will continue providing false information.”Since the devices are distributed all over the country it is difficult for the ministry to control all, as Tigistu said. The thermometers determine temperature by measuring the heat emanating from the surface of a person’s body. Often, however, those wielding the tools don’t hold them close enough to the subject’s forehead, generating unusually low temperature readings, or hold them too close and get a high reading. “My temperature was often below 35 degrees Celsius when these temperature guns screen my temperature wherever I go, be it a hospital or a restaurant. This is a joke,” one person said after Capital approached him while he was arguing with security guards at a bank when they told him that the gun reads his temperature as 33 degree Celsius. Moreover Capital’s reporter tried to see readings around the city and those who use the device. “We are told that if the gun measures above 37.5 degree Celsius we have to report that person to authorities, but no one told us what the lowest number can

be. We will let inside anyone who is below 37.5 degree Celsius. We mostly get a measurement of 33 degree Celsius to 34.5 degree Celsius,” one security guard at a restaurant told Capital. It is now common to see erroneous information of temperature guns

generating unusually low temperature readings as the person is dying of hypothermia or sometimes high temperature. Typically between 36.1 and 37.2 degree Celsius is considered as the normal temperature for a human being. Hypothermia is a medical emergency

that occurs when your body loses heat faster than it can produce heat, causing a dangerously low body temperature. Normal body temperature is around 37 degree Celsius. Hypothermia occurs as your body temperature falls below 35 degree Celsius.

Over 10,000 health workers in Africa infected with COVID-19

Cases in Africa surpass 788,000By our staff reporter

The World Health Organization (WHO) announced that more than 10,000 health workers in the 40 countries which have reported on such infections have been infected with COVID-19 so far, a sign of the challenges medical staff on the frontlines of the outbreak face. The total number of coronavirus cases across Africa has also climbed to 787,501 as of Friday July 24 according to the Africa Centres for Disease Control and Prevention. This comes as COVID-19 cases in Africa appear to be gathering pace. There are now more than 750,000 cases of COVID-19, with over 15,000 deaths. Some countries are approaching a critical number of infections that can place stress on health systems. South Africa is now among the worst-hit countries in the world."The growth we are seeing in COVID-19 cases in Africa is placing an ever-greater strain on health services across the continent," said Dr Matshidiso Moeti, WHO Regional Director for Africa. "This has very real consequences for the individuals who work in them, and there is no more sobering example of this than the rising number of health worker infections."So far, about 10% of all cases globally are among health workers, though there is a wide range between individual countries. In Africa, information on health worker infections is still limited, but preliminary data finds that they make up more than 5% of cases in 14 countries in sub-Saharan Africa alone, and in four of these, health workers make up more than 10% of all infections.Inadequate access to personal protective equipment or weak infection prevention

and control measures raise the risk of health worker infection. Surging global demand for protective equipment as well as global restrictions on travel have triggered supply shortages. Health workers can also be exposed to patients who do not show signs of the disease and are in the health facilities for a range of other services. Risks may also arise when health personnel are repurposed for COVID-19 response without adequate briefing, or because of heavy workloads which result in fatigue, burnout and possibly not fully applying the standard operating procedures.In many African countries infection prevention and control measures aimed at preventing infections in health facilities are still not fully implemented. When WHO assessed clinics and hospitals across the continent for these measures, only 16% of the nearly 30 000 facilities surveyed had assessment scores above 75%. Many health centres were found to lack the infrastructure necessary to implement key infection prevention measures, or to prevent overcrowding. Only 7.8% (2213) had isolation capacities and just a third had the capacity to triage patients.In related development the total number of coronavirus cases across Africa has climbed to 787,501, the Africa Centres for Disease Control and Prevention said.The death toll from the virus in the continent reached 16,697, the latest figures indicate, while a total of 446,082 patients have recovered so far.The Southern Africa region has recorded 424,200 cases, North Africa 143,300, West Africa 114,000, East Africa 61,800 and Central Africa 42,200.At least 6,400 people have died in Southern Africa, 6,100 in North Africa,

1,800 in West Africa, 1,500 in East Africa and 871 in Central Africa.More than 241,600 patients have recovered in Southern Africa, 72,800 in West Africa, 69,600 in North Africa, 34,200 in East Africa and 27,800 in Central Africa. "One infection among health workers is one too many," said Dr Moeti. "Doctors, nurses and other health professionals are our mothers, brothers and sisters. They are helping to save lives endangered by COVID-19. We must make sure that they have the equipment, skills and information they need to keep themselves, their patients and colleagues safe."WHO has been working closely with health ministries to reduce health worker infections since the outbreak began. The Organization has trained more than 50,000 health workers in Africa in infection prevention and control, with plans to train over 200,000 more, as well as providing guidance documents and guidelines on best care practices and the most up-to-date treatment regimes.WHO is also helping to fill gaps in the supply of personal protective equipment. Currently, 41 million items of personal protective equipment are ready to ship from China to cover the needs of 47 African countries. Shipments for an initial set of 23 African countries are planned to start during this weekend.As a result of concerted efforts by WHO and partners some African countries have managed to reduce health worker infections considerably. For example, two months ago over 16% of COVID-19 infections in Sierra Leone were among health workers. The figure has now dropped to 9%. Cote d'Ivoire has reduced the proportion of infections among health workers from 6.1% to 1.4%. Scaling up infection prevention and control measures can further reduce infections among health workers.

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Year 22, No. 1129 Sunday July 26, 20206


Local News

Ethiopia starts using . . . Continued from page 1

S&P Global Platts to . . . Continued from page 1

Gov’t to double indirect . . . Continued from page 3

from indirect tax the government estimated it was close to 41 billion birr, while the projection was to get almost 71 billion birr.From local domestic commodity VAT, the government has targeted to earn 30.5 billion birr that is 27 percent higher than last fiscal year projection. Domestic commodity VAT expected revenue for the year is also 61 percent higher than the actual performance for the 2019/20 fiscal year, which was 19 billion birr. The expected service VAT for the year is 39 billion birr with 10 percent increment compared with 2019/20 fiscal year and 118.6 percent compared with real achievement. In the last fiscal year the government projected to earn 35.5 billion birr from service VAT but the performance was close to 18 billion birr. The import commodity VAT for the year was set to be 37.7 billion birr and the actual performance was 34 billion birr.For the year the government has targeted to earn 107 billion birr from all VAT sources. In the past year 96.7 billion birr was expected, while the actual performance is estimated to be about 71 billion birr.According to last year projection from domestic commodities excise tax collection, the government was expected

to secure 10.4 billion birr, while the real performance was 3.3 billion birr.For this year the commodity excise tax collection is expected to be 13.7 billion birr that is 31 percent higher than the past year and 313.4 percent compared with the performance that was 3.3 billion birr.The import commodity excise tax revenue has also set to be 14 billion birr with 30.4 percent increment from the expected earnings for the 2019/20 budget year. In the 2019/20 fiscal year the project from import commodities excise tax was 11.4 billion birr, while the earning was close to 11 billion birr.For the current fiscal year the government has targeted to collect close to 28 billion birr from all excise tax sources.In the past year close to 22 billion birr was expected from excise tax, while the result was 14 billion birr. According to the budget document of MoF, the revenue from customs duty collection is expected to increase significantly. According to the projection for the year the government targeted to get 45 billion birr.From the direct tax the government has expected to earn close to 66 billion birr, which has reduced by 9 percent compared with the 2019/20 fiscal year target.

PPPDS told Capital that the current bid evaluation process will be different since it considered the international price besides the participants offer.She said that the new scheme will make the government more beneficiary since the measurement will not only consider the lowest offer at the bid. “Previously procurement was not assessed based on the global market price, but it was supposed to be because global market price indicator will identify the offer if it was exaggerated or not compared with international rate,” Abeba said.She added that when the financial offer of the bid participant for the latest bid process opened it will be evaluated with the global market rate, which is analyzed by S&P Global Platts, a London based company. S&P Global Platts is a provider of energy and commodities information and a source of benchmark price assessments in the physical commodity markets for the last 110 years. “In the past it was difficult to compare the price but this scheme will help us to compare whether it is close with the global market or not,” the Deputy Director said.At the bid announcement PPPDS indicated that the finance will be evaluated under international price.PPPDS announced the rebid on June 16 and the bid opening was expected to be done on July 10, which was rescheduled

because of internet shutdown.The wheat global price indicators were not subscribed in the past, while oil and other commodities are subscribed by Ministry of Trade and Industry and National Bank of Ethiopia.“The new scheme will give more benefit for the wheat procurement, which is one of the strategic commodity for the government,” she added. “Besides that it will increase the quality of the biding process.” “If we know the fob price at the Black Sea we will expect the bidders’ rate, who may supply from the stated location, to come up with close amount of the rate that we have,” she added.At the opening only five companies submitted their bid document, while 53 companies bought the bid document.The Swiss company Aston SA, A Plus Importer, Huyton Inc of London, Latudo General Trading from UAE and Mush Candle Factory Limited of Kenya are the companies that submitted their bid document.According to their offer most of the companies indicated that they will supply the product from different ports in Russia.Worku Gezahegn, procurement expert at PPPDS, said that the financial evaluation will be opened when the technical evaluation that opened on July 24 is finalized. He told Capital that the financial evaluation will be opened in the coming ten days.

Roba said that the road from Tadjoura to Balho, a border town, is high standard that is also preferred by drivers. The road that is 120 km and consumed USD 156 million was inaugurated late last year.The coal imported for cement factories is 50,000 metric tons and is transported by Spar Capella vessel, which is sailing under the flag of Norway, from South Africa. Compared with the traditional route from ports in Djibouti via Galaffi, the current road from Tadjoura to Balho is high quality and shortens the driving hour significantly, according to the CEO.“The major share of the 120km road from Djibouti to Galafi is damaged, which forced drivers to drive up to 8 hours to cross the border, while this side may take only two hours,” he added.Trucks that crossed the border will come at the center via Dechato town of Afar region. He said that other vessels will also use the port in the coming period as an alternative. “It is a good alternative when ports surrounded Djibouti as the main town is crowded,” he said. “Ethiopian vessels will use Tadjoura Port since they are equipped with gear, which is a support to unload cargos from vessels, and don’t need crane at the port,” he explained.Roba said that on a daily basis up to 4,000 tons of cargo can be unloaded, which is very big for the new port and even high compared with the performance in other Djibouti ports.“For instance on Friday July 24, 2,000 tons of cargo was unloaded and transported by 50 trucks, while in the past days 1,000 trucks that carried 4,000 tons of coal has been transported,” he said.

Spar Capella is a bulk carrier that was built in 2011 and is sailing under the flag of Norway. Its carrying capacity is 58,000 tones DWT. The Tadjoura Port, which consumed USD 90 million, has been built to mainly focus on general cargo, such as potash and has a depth of 12 meters with 2 berths of 435m length. This facility is well positioned to serve hinterland and could accommodate vessel of up to 80,000 DWT. The Tadjourah-Balho road financed by the Kuwait Fund for Arab Economic Development is the third road corridor besides Djibouti-Galafi-Dicheto and Djibouti-Dewalle-Dire Dawa connecting Ethiopia. In related development Djibouti Shipping Company, formed under Djibouti Ports and Free Zones Authority (DPFZA), has received its first vessel a week ago.Djibouti Shipping Company’s first ship (African Sun) arrived at Djibouti on 19 July and is set to target to reduce transit time for merchandise travelling from different route.The ship that targets to bolster regional trade arrived from the Port of Mersin, Turkey and will make regular journeys to Mogadishu, via Djibouti, Berbera and Bossaso. Africa Sun has a capacity of 1,108 twenty foot equivalent units (TEUs).According to the statement from DPFZA, in addition to import-export traffic, Djibouti Shipping Company will also offer redistribution services for transshipment containers in Djibouti, by major shipping lines and intended for ports in the region. “Africa Sun is the first step in a major national project to become a key player in the shipping industry,” DPFZA said in its statment.

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Year 22, No. 1129 Sunday July 26, 2020 Local News

SMLH-Ethiopia handovers traditional helmets to War Veterans

By our staff reporter

The Ethiopian Section of the Legion d’Honneur and Ordre National of Merit (SMLH-ONM) presented traditional helmets to the Association of the Ethiopian Korean War Veterans at a handover ceremony held on July 23 at the veterans’ association premises. Ethiopian veterans of the Korean War, the legendary Kagnew Battalion, the President of the Association of the Ethiopian Korean War Veterans, Colonel Melese Tessema; President of the Ethiopian Patriots Association, Daniel Mesfin; Defense Attaché of the French Embassy, Colonel Stephane Richou; President of the SMLH-ONM, Teguest Yilma and members of the Section, friends and invited guests attended the handing over ceremony. The ceremony was organized in collaboration with the Association of the Korean War Veterans to honor and celebrate the illustrious Kagnew Shaleka battalion, sent in 1951 by Emperor Hailé Sellassié and the French battalion who fought side by side and mixed their blood in the mud of the Korean Peninsula and thus sealed an unwavering brotherhood. In this 70th year of the Armistice of the Korean War, SMLH -Ethiopia paid tribute to them to the memory of the legendary Kagnew battalion and to their French brothers who gave their lives to restore peace in Korea through the humble

gesture of presenting them with traditional helmets made upon their request. Kagnew Shaleka Battalion was among the first in the multinational force that was deployed with a United Nations Security Council mandate to provide assistance to the Republic of Korea to repel the armed attack and restore international peace and security to the area. A symbol

of an Africa engaged in peacekeeping operations from the very beginning. The association of SMLH – ONM Ethiopia was formed in 2013 by the recipients of the French government’s award of the Legion of Honor in recognition of eminent services rendered to their country and the strengthening of franco-ethiopian bilateral relations.

(L) Daniel Mesfin, Colonel Stephane Richou, Colonel Melese Tessema and Teguest Yilma (Below) the legendary Kagnew Battalion members

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Year 22, No. 1129 Sunday July 26, 2020 Advertisement

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Local News

Open for both Local and International Companies

Topic- UNICEF (Ethiopia) wishes to request eligible bidders to participate in a Invitation to Bid (LITB-2020-9151012: Procurement of Different size Tyres.Details of the requirements for this bid and eligibility criteria etc. can be found in the bid document. Interested and eligible bidders from local companies can get the bid document in the link https://2merkato.com/images/downloads/UNICEF/24JULY-LITB-2020-9151012.pdf Any query or clarification with regard to this bid shall be send through an email to Ayele Wolde, [email protected]. Bid clarification will be posted on the same websites mentioned above to all bidders. While sending your request for clarification, please ensure that you specify the LITB number in the subject email, provide the name of the company, contact person, email and mobile number. The due date for submission of proposals/Bid to UNICEF Ethiopia Office, Addis Ababa is on or before 10:00 AM (East African Time) 12th August 2020 (Wednesday). Please read the LITB and the annexes for detailed requirements and due dates.Please quote the LITB-2020-9151012 in all your correspondences. UNICEF reserves the right to accept or reject part or all of any or all bids.

ADDRESSUNICEF Ethiopia, UNECA Compound, Zambezi

Building, 2nd floor Supply Section, P.O. BOX: 1169, TEL: +251-11 518 4142/4158, Addis Ababa, Ethiopia.


The Ethiopian Commodity Exchange (ECX), an electronic commodity trading floor, opened a special trading window for local processers, who use soybean as an input, and will add two more commodities under its exclusive trading scheme.The special window is targeting to ban local producers to access the product from primary market. Since January 2019 soybean, which is considered an industrial product, is trading at ECX exclusively. However, local processors, who use the product as raw material for their industrial production, have been allowed to access the bean from primary market or directly.Misganu Arega (Amb), State Minister of Trade and Industry (MoTI), said that processor can now only buy the product at the special window at ECX. He said that the new initiative introduced as part of the way to harmonize the soybean trading and cut challenges in the sector.“To improve the supply, and harmonize the bean local price to the international market that help to get more revenue from export the market mismatch should be corrected,” Misganu said.Netsanet Tesfaye, Public Relations Head at ECX, told Capital that the commodity exchange is working to introduce the

special trading. “ECX is finalizing preconditions in collaboration with MoTI to commence the trading and we hope it will commence soon,” he added. He said that on the break that allowed local processors to access the product from primary market some of them abused the opportunity. “Some processors sold the bean for exporters illegally,” he added. “It has created a gap for contraband.”“The new initiative that creates regulated price will solve such kind of mischiefs,” the State Minister said.The ministry has also given grace period for soybean hoarders to come up with the product in a given period.The State Minister called those, who illegally stored the bean to supply the product at the ECX warehouse via suppliers until September 5, before legal action is taken by the government.In related development MoTI has announced that exporters of sesame seeds, white pea bean, mung bean and red kidney bean should come at the ministry between August 10 to 28 for stock balance. New products The exchange has also stated that that it will add red speckled beans/pinto beans and white pigeon pea, which are mostly export oriented products. Netsanet told Capital that the new

Novartis reveals plans for a zero-profit

COVID-19 drugs portfolioBy our staff reporter

Novartis, a global pharmaceutical company, includes Ethiopia in the new zero profit initiative for medicines to treat major symptoms of COVID-19.The Switzerland based company which is well known in its pro poor initiatives, on July 16 has announced that countries that are low income and lower middle income will access the medicines with zero profit to treat those who are affected by COVID 19, a global pandemic that killed over half million people including about 180 in Ethiopia. In its statement the company sent to Capital indicated that the new initiative aims to help patients in low-income and lower-middle-income countries access affordable medicines to treat the major symptoms of COVID-19, a critical need in the absence of a vaccine or curative treatment. The Novartis COVID-19 portfolio includes 15 medicines from its Sandoz division for gastro-intestinal illness, acute respiratory symptoms, pneumonia as well as septic shock. The medicines were chosen based on clinical relevance and availability to ensure demand can be met globally. According to the statement, the medicines will be made available to governments, Non-Governmental Organizations (NGOs) and other institutional customers in up to 79 eligible countries at zero-profit to support financially-strained healthcare systems.“Countries will have the flexibility to select the medicines in the portfolio that meet their healthcare needs,” it said.Experts said that the initiative may help low income countries to access relevant treatment medicines with lower price to combat the pandemic effect. “Access to medicine can be a challenge for patients in low- and lower-middle-income

countries and the situation has worsened during COVID-19. With our COVID-19 portfolio, we wish to help address the additional healthcare demands of the pandemic in the countries we are targeting,” said Dr Lutz Hegemann, Chief Operating Officer for Global Health at Novartis. “This initiative builds on our earlier global commitment to keep prices stable for a basket of essential drugs used to treating COVID-19 patients,” says Sandoz CEO Richard Saynor. “The COVID-19 Response Portfolio for low-income and lower-middle-income countries is designed to support governments in treating COVID-19 symptoms before they lead to complications in patients.”The medicines included in the Novartis COVID-19 response portfolio are Amoxicillin, Ceftriaxone, Clarithromycin, Colchicine, Dexamethasone, Dobutamine, Fluconazole, Heparin, Levofloxacin, Loperamide, Pantoprazole, Prednisone, Prednisolone, Salbutamol, Vancomycin. The portfolio will be offered in addition to the Novartis Access portfolio (on- and off-patent medicines against key non-communicable diseases) via the local Novartis or Sandoz affiliate. This global pandemic has placed extreme pressure on healthcare systems in low- and lower-income countries. The pandemic response portfolio complements the previously launched Novartis COVID-19 Response Fund to support healthcare workers and communities in over 50 projects around the world. The COVID-19 medicines portfolio is Novartis latest contribution to the global effort to combat the pandemic and support the stability of global healthcare systems. The company has committed to donating USD 40 million to support communities around the world impacted by the pandemic.

ECX opens local window for soybean products trading will be introduced as of the coming Ethiopian New Year, which is September 11. The coming of the two products will increase the commodity exclusively traded at ECX to seven. According to Netsanet under red speckled bean also known as pinto bean, there are six varieties, red white, white red, white gray, creamy red, un-speckled creamy and un-speckled yellow.A survey conducted by ECX indicated that the production of the beans is over 435,600 quintal per annum out of which 30 percent is consumed locally.“Based on the 2017/18 year data the products were mainly exported to India, Kenya, Pakistan, Tanzania, German, Russia and Czech Republic,” Netsanet said. He added that the beans expert has sharply spiked in the past year. He referred the performance of the 2017/18 and 2018/19 that was 2,984 metric ton two years ago that boosted to 7,801 metric tons in 2018/19 budget year that generated USD 468,066. The local market average price is 1,336 birr per quintal and average fob price is 1,950 birr. Red speckled beans/pinto beans is mainly produced in Sidama region and Gurage, Gedio, Burji areas in SNNP region.Netsanet said that the product will be expanding in different regions since there is a potential in suitable areas for the harvest that preferred low land areas.White pigeon pea is the other pulse that will be exclusively traded at the electronic trading floor as of September.The public relation head at ECX indicated that the pulse is widely harvested in the country in more than four regions. The country agro ecology is very suitable for the

production, while the local consumption is very small that is estimated about ten percent from total production and the balance for export, according the Netsanet. “White pigeon pea major production area are South and North Gonder and South Wello at the north the product is produced in, at Welayta, Gamo, Gofa, Segen, Dawro, and South Omo in the south, in Qelem Welega, West Welega, East Welega, Horo Guduro, Iluababora and Jima in the west; in Bulen, Pawe, Dibate, Dangua, Manduara, Guba, Werkmeda, Wenbera, Jawi and Fendiqa areas in north west, and East Shoa, Arisi, Harar, West Arsi, and North Shoa at the central part of Ethiopia,” the Public Relation Head said.India, Kenya, Italy, Portugal, and Belgium are major export destinations.Netsanet indicated that the annual production of white pigeon pea is 396,000 quintal that has 20 percent annual growth in the past few years.“Since the trading commence at ECX the production is expected to hike because farmers and suppliers will get the market information,” he said. “In 2016 the country has earned USD 1.2 million from export of 15,656 quintal, which has high value, due to that the production is expected to increase,” he added. Minister of Trade and Industry stated that the two products have a potential to earn significant amount of hard currency. It is stated that it has given three months grace period for suppliers and exporters to conclude their contracts and stocks until October 11.The ECX has finalized to receive the products in its branches located throughout the country.

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DISCOURSE WITH DR. DESTA

ODE TO THE KING WHO LOVED CULTURE “We consider it a matter of great importance to revise and

develop the fine arts in Our country in a manner which will enable Our artists to combine the historical and

traditional art of Ethiopia with the advantages of modern technical developments in the field.”

H.I.M. Haile Selassie I

On July 23rd, 1958 the premier art school in Ethiopia, Addis Ababa University Ale School of Fine Art and Design (ASFAD) was

inaugurated by the art loving monarch, H.I.M. Emperor Haile Selassie I. The day was extra special as it was also the 66th b-earthday of the Emperor whose vision for Ethiopian art was summed up in His speech inaugural speech. “We have established this institution because We consider it a matter of great importance to revise and develop the fine arts in Our country in a manner which will enable Our artists to combine

the historical and traditional art of Ethiopia with the advantages of modern technical developments in the field.” His Majesty’s words and wishes for the arts have seen a revitalization through the efforts of Prime Minister, Dr. Abiy Ahmed. The young PM, who also has a passion for art, exhibits this personally and professionally through his well curated office of Ethiopian art and photography; his refurbishment of the Art School’s sculpture filled compound; and most obvious, the establishment of Unity Park which utilized dozens ASFAD educated Ethiopian artists.

COVID 19 pandemic and the ensuing political and economic debate

Alazar Kebede

The COVID 19 outbreak has exposed fundamental weaknesses in the structure of the global economy that serve to amplify the damage caused by the pandemic. To peer into the abyss, just take a look

at the fiscal and monetary situations in the United States. Prior to the onset of the coronavirus crisis, the United States federal government was already expected to run a trillion-dollar deficit in the current fiscal year. Right now, that same government is planning to layer on top of that pre-existing deficit fiscal stimulus of around $2 trillion, with even more debt to be added behind that. This means the United States budget deficit is likely to hit $3 trillion this year. And this is going to get greatly worsened by the Coronavirus crisisBut that number doesn’t even take into account the loss of tax revenues that are due to the decline in business activity and employment. In the 2008 recession, federal tax revenues declined by over $400 billion. That number is likely to be greater this time around. Nor does it take into account higher levels of spending on social welfare programs that are part of existing programs and do not require special “stimulus” funding to be appropriated. They go up automatically.Holger Schmieding, Chief economist at Berenberg Bank in London argued that it is safe to assume that the federal budget deficit in the current fiscal year will zoom past the $4 trillion mark and approach $5 trillion before it’s all over. This makes the $1 trillion deficit of 2009 look quaint by comparison. The United States GDP in fiscal 2019 had been expected to come in at $21.4 trillion. Assuming there is a 15% decline in fiscal 2020 due to the pandemic, GDP looks like it will come in at around $18 trillion. That would put the projected United States budget deficit at around 28% of GDP.According to Holger Schmieding, many economists would consider that number unsustainable on its face. But the situation is even worse than what economic theory might suggest. The fact is that there are precious few options for funding the government deficit. With interest rates about to go negative, for example, how is the federal

government going to induce United States investors to pour money into financing a $5 trillion deficit?To make matters worse, the biggest foreign investors in United States treasuries are hitting economic walls of their very own. Specifically, the Chinese economy is suffering because of a lack of foreign demand and the Gulf States are hurting because of the collapse in oil prices. China and Saudi Arabia are indispensable links in the recycling of global capital and a breakdown in that flow of funds augurs a fundamental repositioning of the United States dollar on the world market.Richard Phillips, a New York-based international analyst with extensive financial sector experience stated that the only remaining alternative to dealing with United States budget deficits will be to continue Fed policy prescriptions enacted following the financial crisis of 2008 and intensified during the current crisis. That would translate into a potentially massive expansion of the Fed balance sheet as it stands up as “purchaser of last resort” for Treasuries, a process which has already begun. Richard Phillips noted that funding United States fiscal deficits is a problem of one sort. Some of the more secular problems embedded in the global economy are of a different sort. For example, there have been indications of a looming corporate debt crisis in the United States for some time. Corporate debt today stands at over $10 trillion – an historically high number that is equal to more than 50% of the United States economy. To make matters even worse, much of this debt has been issued by non-investment grade rated companies and are considered junk.Crises of such a scale can make or break leaders. Here are some tentative conclusions about potential global consequences and the political outlook in key countries of the advanced world. The pandemic is taking a particularly heavy toll on countries whose overconfident leaders trusted their own personal and political instincts more than sound scientific advice, at least initially. According to Holger Schmieding, their countries often suffered starker consequences in terms of loss of life than other countries that are not governed by populists. This

ASFAD was the first university level art school on the continent established by Africans for Africans, recalling that in 1958 there were a mere eight independent African countries. The Emperor personally continued to visit and support the budding Ethiopian art students, a story which many senior artists are always ready to share during those wonderful tizita moments. One such artist is the School’s namesake and frankly the inspiration for the Majesty’s backing of the Art School, founder Artist Alle Felege Selam, who lived to see generations of Art School graduates. Consistent with the Majesty’s vision for the development of fine art, Ethiopia has produced some of the most outstanding artists on the continent participating in international exhibitions, residencies and receiving prestigious international awards. Many may be familiar with Ethiopian Artists Gebre Kristos Desta, H.E. Laureate Afework Tekle and Laureate Desta Hagos however several Ethiopian artists have emerged over the past two decades, shaping the 21st century with a new energy, perspective and visual language. Artists like Elias Sime, Tasfaye Urgessa and Selome Tadesse present fresh, new and exciting works demanding international attention still connected to a fine art historic pedigree. Indeed, the King who loved culture, desired the development of Ethiopia to be one of continuity stating further in the Art School opening speech, “The ancient paintings that are still to be seen in the great monasteries and churches of Ethiopia, and the carvings in wood and stone which have come down to us in the ruins of the ancient palaces, bear witness to the fact that the fine arts had attained a comparatively high degree of development even in very early times.” Continuity. This is an important notion

for development as often times we believe in tearing down to build new is the only way to progress. Following His Majesty’s philosophy, as applied to the arts, we have a duty to preserve as we progress, and the two work best in tandem. So as we try to get through 2020, the year when the world was shaken by covid19, politics, social injustice, and the subsequent economic damages, forcing us to re-think EVERYTHING; let us also re-think our reactions when our talented children tell us they would like to be artists and not engineers. Encourage their aspirations and affirm their God given gifts to create memorable and meaningful art works that will be historical markers of Ethiopia’s contributions to the world. And as we mark 128th anniversary of H.I.M Emperor Haile Selassie I birth and the 62nd anniversary of the Art School let us be inspired by His Majesty’s words on the arts, “Music, drama and the other arts are rooted in the ancient history of our empire and their development to an even higher peak of perfection will be possible in the atmosphere of a university.” HIM closes his opening speech at the Art School stating, “As we have stated, time and time again, it is easy to begin but hard to finish, and We express on this occasion both our happiness at what we see here today, as well as Our strong hope to see this work which is now begun bearing fruit in the near future.”

Abridged from July 20, 2018

Dr. Desta Meghoo is a Jamaican bornCreative Consultant, Curator and

cultural promoter based in Ethiopia since 2005. She also serves as Liaison to

the AU for the Ghana based, Diaspora African Forum.

may make it more difficult for populists to peddle their fact-defying slogans in the future. However, the costs of the recession fall heavily on less skilled service workers and new entrants to the labor market, whether they live in countries governed by populists or not. This may cause new problems.Uwe Bott, Chief Economist of The Global Economic Research Center adamantly argued that all of the major global players, the United States, China and the European Union, got their initial response to the crisis partly wrong. So did many second-league players, such as the UK and, much more badly, Russia and Brazil. An even more fragmented world could be a more dangerous place, especially if the current United States government continues on its path to weaken global institutions, as well as its own soft power.According to Uwe Bott, in the United States, President Donald Trump is no longer the favorite to win the presidential election on November 3. If Joe Biden makes it into the White House instead, he may pursue a more centrist policy agenda. He may actually have some political leeway, as the Democrats have a good chance to win a majority in both houses of Congress. The resulting mix of more domestic regulation with a calmer foreign and trade policy may sour the economic mood among some corporate titans in the United States. But it could perhaps help pacify a very unruly social situation inside the United States and would certainly come as a relief to other parts of the world.Richard Phillips stated that with a belated decision to promote a generous €750 billion recovery fund, Germany may be helping to rein in the surge in anti-EU sentiment in parts of southern Europe. However, the future cohesion of the EU looks a little less secure now as the initial impression of insufficient solidarity in the critical months of March and April may linger.As Uwe Bott explained it, thanks to luck and a deft policy response by Germany’s centrist coalition, the risk that a Green-left-left coalition could take over in Berlin in late 2021 has receded a little. But it has not vanished. The weakness of the small liberal FDP, which may struggle to stay in parliament, could be a bigger factor in the national power equation than the rise of the right-wing AfD, which has stalled.It remains true that President Macron’s earlier economic reforms have strengthened the French economy significantly. But his reform momentum has stalled. There is an appreciable risk now that the reforms may not suffice to deliver a golden decade for France in the 2020s. Meanwhile, political risks remain elevated in Italy and Spain.

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N e w s B r i e fIn

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DayDefinition

Usage Example

CASHIER'S CHECK

Coalition to reach over 1.2m vulnerable population across Addis AbabaA private public coalition between the Addis Ababa Mayor's office, private sector companies, and non-governmental organizations launched a project dubbed Tenachin Bejachin with a total potential value of $6 Million over the coming months in response to the heightened risk of COVID-19. The project is expected to help people living in highly dense communities that struggle with access to water, soap, and other compounding challenges. Member manufacturing companies will commit to zero profit for the first 6 months of the project and ensure retention of employees. In return, the coalition will guarantee cost recovery for operating expenses relating to manufacturing of the critical items. With the launch of Tenachin Bejachin, the coalition will oversee the manufacturing and distribution of facemasks and soaps, installing of water tankers, and deployment of behavioural change education to address the needs of 1.2 million vulnerable population and reinforce broader efforts to fight COVID-19.

(Press Release)

IFC announces $50 million loan to Equity Bank IFC, a member of the World Bank Group, announced a $50 million loan to Equity Bank Kenya to help it increase working capital and trade-related lending to its small and medium-sized enterprise (SME) clients, especially those facing COVID-19 related challenges.The loan, which will ultimately support hundreds of Kenyan businesses in the manufacturing, health, trade, transport, and

consumer goods sectors, is part of IFC’s global $8 billion fast-track COVID-19 facility, announced in March and designed to help businesses maintain operations and jobs during-and after-the COVID-19 crisis.Dr. James Mwangi, Equity Group CEO, said, “IFC’s loan, part of our business continuity management plan, will help Equity Bank extend much-needed support to our clients, particularly to SMEs in sectors hit hard by COVID-19. We have purposed to support and walk with them so that they can survive during this crisis, recover, and thrive after it. I call on customers looking to seize emerging opportunities in the health and medical sector to manufacture personal protective equipment (PPE) or support the logistics of the entire ecosystems and value chain to take advantage of the $50 million facility.” Manuel Moses, IFC Country Manager for Kenya, said, “IFC’s longstanding partnership with Equity Bank underscores our commitment to Kenya’s financial sector and wider economy, especially during these difficult economic times. Keeping businesses solvent and protecting jobs are essential parts of IFC’s response to the unprecedented challenges of COVID-19.”The COVID-19 pandemic has disrupted trade and value chains in Kenya, across Africa, and around the world, affecting commodity prices, reducing foreign financing flows, and collapsing tourism revenues. Smaller businesses are the life blood of Kenya’s economy, accounting for about 81 percent of employment.IFC’s portfolio in Kenya stood at $884 million as of June 30, 2020, with investments supporting growth and jobs in the financial, manufacturing, agribusiness, services, infrastructure, and other sectors. IFC remains committed to scaling investment and advisory support in Kenya, especially within the

context of Kenya’s Big Four Agenda of manufacturing, affordable housing, affordable healthcare, and food security.

(Press Release)

Japan grants $14m to halt spread of COVID-19 The Ministry of Finance and Japan have signed a grant agreement amounting $14 million for the procurement of medical equipment to halt the spread of COVID-19 in Ethiopia.The agreement was signed by Ahmed Shide, Ethiopia’s Minister of Finance and Matsunaga Daisuke, Ambassador of Japan to Ethiopia.Ambassador Matsunaga said “this grant aid will contribute to enhancing measures that have been taken for the fight against infectious diseases in Ethiopia, including COVID-19.”The ambassador hoped that “this grant aid will further deepen friendship between the people of Japan and Ethiopia”.According to a statement the embassy of Japan sent to FBC, the grant is a continuation of the August 2019 Yokohama TICAD 7 commitments to expand universal health coverage and the African health and well-being initiatives.

(FBC)

Korea extends USD 70 million loan for COVID-19 emergency responseKorea Eximbank and the Ethiopian government signed Loan Agreement to provide USD 70 million in total, which covers both "Medical Equipment Provision Project" amounting to USD 30 million and "COVID-19 Emergency Response Budget Support Program*"

A check which cannot bounce because its face amount is paid to the bank when it is issued, and the bank then assumes the obligation.

You may find it is a lot easier to pay with a cashier's check instead of paying with cash from time to time.

worth USD 40 million through the Korean government’s aid program, the Economic Development Cooperation Fund (EDCF). The "Medical Equipment Provision Project" is formulated at the Ethiopian government's request for COVID-19 emergency response budget support, and will provide/install medical supplies and give training in instructions and maintenance of the provided supplies.The "COVID-19 Emergency Response Budget Support Program" is designed to support the Ethiopian government to implement "COVID-19 National Emergency Response Plan" and provided in the form of parallel co-financing with AfDB.The Program is focused on the health sector and expected to contribute to increase of test laboratories, quarantine/treatment/isolation facilities and health/medical workers with COVID-19 response training in Ethiopia.

(Press Release)

Open for Local Companies onlyTopic- UNICEF (Ethiopia) wishes to request eligible bidders to participate in a Invitation to Bid (LITB-2020-9160034: for procurement of Fabrication and installation of Handwashing stations.Details of the requirements for this bid and eligibility criteria etc. can be found in the bid document. Interested and eligible bidders from local companies can get the bid document in the link https://2merkato.c o m / i m a g e s / d o w n l o a d s / U N I C E F / 2 2 J U L -LITB-2020-9160034.pdf Any query or clarification with regard to this bid shall be send through an email to Ayele Wolde, [email protected]. Bid clarification will be posted on the same websites mentioned above to all bidders. While sending your request for clarification, please ensure that you specify the LITB number in the subject email, provide the name of the company, contact person, email and mobile number. The due date for submission of proposals/Bid to UNICEF Ethiopia Office, Addis Ababa is on or before 10:00 AM (East African Time) 05th August 2020 (Wednesday). Please read the LITB and the annexes for detailed requirements and due dates.Please quote the LITB-2020-9160034 in all your correspondences. UNICEF reserves the right to accept or reject part or all of any or all bids.

ADDRESS

UNICEF Ethiopia, UNECA Compound, Zambezi Building, 2nd floor Supply Section, P.O.BOX 1169,

TEL: +251-11 518 4142/4026, Addis Ababa, Ethiopia.

Open for Local Companies onlyTopic- UNICEF (Ethiopia) wishes to request eligible bidders to participate in a Invitation to Bid (LITB-2020-9158151 and 9158150: Establishing Long term Arrangement for procurement of recreational kit, Dignity kit, ECE kit, school kit in a bag.Details of the requirements for this bid and eligibility criteria etc. can be found in the bid document. Interested and eligible bidders from local companies can get the bid document in the link https://2merkato.com/images/downloads/UNICEF/LITB-2020-9159251.pdf https://2merkato.com/images/downloads/UNICEF/LITB-2020-9159250.pdf Any query or clarification with regard to this bid shall be send through an email to Ayele Wolde, [email protected]. Bid clarification will be posted on the same websites mentioned above to all bidders. While sending your request for clarification, please ensure that you specify the LITB number in the subject email, provide the name of the company, contact person, email and mobile number. The due date for submission of proposals/Bid to UNICEF Ethiopia Office, Addis Ababa is on or before 10:00 AM (East African Time) 5th August 2020 (Wednesday). Please read the LITB and the annexes for detailed requirements and due dates.Please quote the LITB-2020-9158150 and 9158151 in all your correspondences. UNICEF reserves the right to accept or reject part or all of any or all bids.

ADDRESSUNICEF Ethiopia, UNECA Compound, Zambezi Building,

2nd floor Supply Section, P.O.BOX 1169, TEL: +251-11 518 4142/4158, Addis Ababa, Ethiopia.

16



I N T E R V I E W

Capital: How did the recent incident affect the activity of Ministry of Health on responding to the pandemic?Tigistu Adamu: The incident has come up with a lot of effect to the response of the pandemic. One of the challenges were, the incident has reduced the samples taken for COVID 19 tests. Primarily it was related with logistics. It was difficult to send our staff to contacts and in the society to collect samples. The number of samples we took was reduced by 30 percent in average. During that time we took an average of 5000 samples. The highest number taken after the incident was 4,000 samples that was on Thursday July 9, 2020, even if it is higher than it was lower than before. The ministry has been planning to conduct 15,000 tests daily. Now we are reaching to 7,000 tests.Usually the highest sample is taken from Addis Ababa and Oromia although the unrest was in these areas. Such kind of incidents affects the overall activities not only the health sector but other activities.

Capital: Does the Ministry have a guideline or protocol to continue the response to the pandemic if such kind of incidents happen in the country?Tigistu: Yes we do have. While the politics is one issue when there is a pandemic there may be a lot of other subjects that can rise an unrest in a country. It could be political, social, economic or logistics. However it is difficult to predict when. In

such times we cannot operate as normal therefore we have plan which can fit with the crises and crises management. For example if the worst case scenario happens in one region and our limited mobility may upsets people and create grievances and unrest in the region, though to control such kinds of happenings the government has declared state of emergency and form a COVID 19 response team from the beginning of the outbreak. The Ethiopian Public Health Institute mainly run such kind of health crises response not only for covid. In such times this helps to work strongly with the security apparatus although some incidents may go out of control.

Capital: Have you identified hotspot areas based on the situations? And what will be the next step?Tigistu: Usually hotspot areas are identified and determined based on positivity test result. We do the pandemic investigation based on population density, movement in the area, housing, socio economic status and other basic needs such as electricity, water and so on.By taking this in to account previously we have prepared a map, for example in Addis Ketema, Liedeta and Gulele sub cities the positivity rate has been over lapping and were identified as a hot spot. As in the previous we will do same researches, identify places were lots of

protesters came from and were gathered. We get the information from security offices. Currently in collaboration with the national COVID 19 response team and security offices the Ministry is working to identify hot spot areas to control the spread of the virus. After mapping we will focus on the areas as a target, we will increase the sample test in the areas.Currently the thing what is worrying us is most of the protesters were young and from regional areas. The thing here is that if they get infected in the protest they can transmit to their parents or other elders. Which is as we all see the virus can develop serious illness on old people and people with pre existing medical condition more than others. So currently we are talking with the Oromia Health Bureau and actively working to educate the people and focus on the areas on sampling.

Capital: How are you going to cope with it if the number goes to the worst case scenario?Tigistu: It is like an evolution. In the first time we all have been working if the cases has shown symptoms, if they were in simple or high risk. They stay at the mandatory isolation centers. However from time to time if the numbers continue to increase it would be expensive to take care all the cases in governmental centers. Thou we have prepared a directive that if the case is in a mild situation and can be

deemed to qualify for self-isolation at his home without infecting others they can do that. This can help us to give space for the governmental isolation centers and the staff. But this is if the number of cases continues as it is now.But if the number continues to increase and become beyond our control we will do as the other world does. So we will divide the cases based on their illness situation.

Capital: Besides COVID 19 there are a lot of diseases that are breaking out, such as measles in which the Ministry has started giving a vaccine, how does the Ministry managed it with its limited human resources?Tigistu: It is known that there is a shortage of human resources. The World Health Organization suggests in minimum 4.5 health care workers’s for 10,000 people but in our context 1.2 health care workers is for 10,000 people. There is a big difference but we cannot sit just because there is a shortage when other situations happen in this time we are adjusting our staff and our resources by identifying places which will be affected and are in good condition.We Move staffers from hospitals and clinics. Always when you start focusing on one thing there are always things that would be affected. So to minimize this we are deploying volunteers on hospitals and clinics.

F ollowing the assassination of Hachalu Hundessa, the country mainly Oromia, Harari,

Addis Ababa and Dire Dawa City Administrations saw fatal violence for days starting from June 30. The violence in the country has highly affected the sample taking of COVID 19 tests. To control the outbreak and spread of the pandemic the government has banned public gathering and declared wearing face masks as mandatory but the majority of the protesters show up without considering the pandemic. According to the Ministry of Health data the samples that were taken for tests were highly affected. Tigistu Adamu (MD) is a medical doctor advisor at the Ministry of Health. He talked to Capital how his Ministry is trying to boost COVID 19 tests and how recent events affected their work. Excerpts;

FIGHTING COVID 19

17



Request for Expressions of Interest to Mass Produce Hand Washing Stations in Collaboration

with the USAID Transform WASH project:Introductioni. Who we are?We are Population Services International/Ethiopia (PSI/E), the local affiliate of US-based PSI, an international organization operating in more than 65 countries worldwide. In the last 15 years, PSI/E has been implementing health programs in Ethiopia with a mission of facilitating market growth to ensure smooth supply and activated demand for essential health products and services. Major areas of intervention have been WASH, HIV prevention, adolescent health, and non-communicable diseases.

ii. What is the REoI About?In response to the current Covid-19 pandemic, PSI is working toward building a sustainable supply of household handwashing facilities in partnership with development partners and the private sector. The activities are being implemented by the USAID Transform WASH (T/WASH) consortium, which has a primary goal of facilitating a sustainable market for sanitation and hygiene products. In the last four years, T/WASH has established a network of business partners in 41 intervention woredas across all regions of the country.The principle aim of this REoI is to identify enterprises with capacity in plastics or other relevant manufacturing that have the capability and interest in mass producing household and institutional hand washing facilities and other similar WASH products as a new business opportunity. Based on the REoI specifications, we will assess these capacities and will select capable manufacturers for further partnership consideration.

iii. The REoI Opportunities and Schedule PSI/E is seeking interested plastics manufacturers to submit their expression of interest according to the attached information form. This REoI presents the following opportunities to domestic plastics manufacturers:

1. Partnership with the USAID Transform WASH project in developing viable business options for handwashing products.

2. Access to markets for its products through the T/WASH business partner network of regional distributors and local retailers across all regions and with intensive presence in 41 woredas.

3. Professional support in developing business plans and marketing activities to activate demand for the products.

REoI TimelinesActivities Schedule

1Submission of EoI using the attached capacity assessment template

Jul 27 to Aug 14, 2020

2 Assessment of the EoI by our project team

Upon receipt to Aug 28, 2020

3 Call on selected manufacturers and offer proposal of partnership Sep 1 to 30, 2020

4 Closing the partnership deal with the selected manufacturer Sep 30, 2020

iv. REoI Submission RequirementsThe request for expressions of interest is for all domestic plastics manufacturers that have the capacity and interest to add new products to their business portfolio. To express your interest, please use the standard template enclosed here with in. An assessment of EoI will completed by August 28, 2020 with aim to finalize partnerships by September 30, 2020.

v. EoI Standard Template

COMPANY’S PROFILE

NAME OF YOUR COMPANY

Name:...................Staff size:..............Year of establishment:......

LOCATION:......CONTACT PERSON:.........TEL:..................EMAIL..............

REGISTERED CAPITALPRODUCT LINESEXISTING SUPPLY CHAIN LEVELS/ LOCATIONSMARKETS INFORMATIONBrief introduction to your company

APPLICATION CHECKLIST

Your EoI Should Include f Statement of Interest with 9Plant information 9Available space to consider new manufacturing 9Existing product portfolio 9Your unique capabilities

f Technical information 9Type of existing machines operating and potential capacity 9Existing Production schedule 9New product inclusion tech. capability

f Business information: existing markets, supply chains and potential markets to consider

f Financials: initial investment and financial capacity to invest in new business opportunities

f other information: 9Partnership information (with public organizations) 9Existing partnership with private information.

Supporting Documents f Registrations 9Business registration 9Qualification license to run plastic manufacturing. 9Other supporting documents you may want to share with us.

For further information please contact at.

Ato Henok Getachew Associate Director, Business Development Email [email protected] phone +251911698247

Population Service International / Ethiopia (PSI/E) USAID Transform WASH

18



Ten of Africa's biggest musical artists are uniting to record "Stand Together", a rallying call to all Africans to unite against COVID-19. With artists from seven African countries, the song is a powerful reminder that no one is

safe from COVID-19 until everyone is protected from the disease.The biggest crisis facing Africa today is the COVID-19 pandemic, which comes on top of already high unemployment and poverty levels and is placing an increased strain on struggling healthcare systems. The good news, however, is that we are seeing an unprecedented mobilization of resources and collaboration across the continent in response to the virus.Building on this collective unity and resolve, the artists are collaborating with the ONE Campaign to launch an anthem to call for solidarity in the face of the COVID-19 pandemic, while calling on African leaders to keep standing alongside African citizens in fighting this pandemic.Participating artists include TuBaba (Nigeria), Ben Pol (Tanzania), Teni (Nigeria), Yemi Alade (Nigeria), Amanda Black (South Africa), Stanley Enow (Cameroon), Gigi la Mayne (South Africa), Prodigio (Angola), Betty G (Ethiopia) and Ahmed Soultan (Morocco). Stand Together was produced by Cobhams Asuquo.The song is being launched in partnership with ONE, the Nelson Mandela Foundation and MTV Base on Mandela Day, an annual celebration of the life of Nelson Mandela. Stand Together debuted during the annual Nelson Mandela Lecture on Saturday 18 July.Edwin Ikhuoria, ONE’s Africa Executive Director stated “ONE is delighted to collaborate with these 10 fantastic artists, MTV Base and the Nelson Mandela Foundation to release ‘Stand

Together’, a beautiful and powerful message to all Africans that we will overcome COVID-19 with a spirit of unity, resolve and shared responsibility. We call on Africa leaders to follow the lead of these artists who are uniting the continent in line with the legacy of Nelson Mandela.”“We have been encouraged by solidarity at so many levels as the world has responded to the challenge of the pandemic. But much more needs to be done. We hope that the coming together of artists in the ONE Campaign will signal a call to such action,” said Nelson Mandela Foundation Chief Executive, Sello Hatang.Speaking on the collaboration, Monde Twala, Senior Vice President and General Manager for ViacomCBS Networks Africa commented “ W e are extremely proud and excited to partner with the ONE “Stand Together” campaign uniting all Africans in the fight against Covid-19. As a youth culture platform, it is important to ensure that we reach out and inspire young Africans with a positive message of hope and resilience to help overcome the challenges we all face. We are not alone and stand together, unified, through music and culture.”

ONE, MTV Base & Mandela Foundation pair up with 10 African artists in song to fight COVID-19

Open for Local Companies onlyTopic- UNICEF (Ethiopia) wishes to request eligible bidders to participate in a Invitation to Bid (LITB-2020-9158149 Establishing Long term Arrangement for procurement of school furniture.Details of the requirements for this bid and eligibility criteria etc. can be found in the bid document. Interested and eligible bidders from local companies can get the bid document in the link https://2merkato.com/images/downloads/UNICEF/LITB-2020-9159249.pdf https://2merkato.com/images/downloads/UNICEF/LITB-2020-9159249.pdf Any query or clarification with regard to this bid shall be send through an email to Ayele Wolde, [email protected]. Bid clarification will be posted on the same websites mentioned above to all bidders. While sending your request for clarification, please ensure that you specify the LITB number in the subject email, provide the name of the company, contact person, email and mobile number. The due date for submission of proposals/Bid to UNICEF Ethiopia Office, Addis Ababa is on or before 10:00 AM (East African Time) 5th August 2020 (Wednesday). Please read the LITB and the annexes for detailed requirements and due dates.Please quote the LITB-2020-9158149 in all your correspondences. UNICEF reserves the right to accept or reject part or all of any or all bids.

ADDRESSUNICEF Ethiopia, UNECA Compound, Zambezi Building,

2nd floor Supply Section, P.O.BOX 1169, TEL: +251-11 518 4142/4158, Addis Ababa, Ethiopia.

Open for Local printing Companies only

Topic- UNICEF (Ethiopia) wishes to request eligible bidders to participate in a Invitation to Bid (LITB-2020-9158153: for procurement of printing services for student text books.Details of the requirements for this bid and eligibility criteria etc. can be found in the bid document. Interested and eligible bidders from local companies can get the bid document in the link https://2merkato.com/images/downloads/UNICEF/LITB-2020-9158153.pdf Any query or clarification with regard to this bid shall be send through an email to Ayele Wolde, [email protected]. Bid clarification will be posted on the same websites mentioned above to all bidders. While sending your request for clarification, please ensure that you specify the LITB number in the subject email, provide the name of the company, contact person, email and mobile number. The due date for submission of proposals/Bid to UNICEF Ethiopia Office, Addis Ababa is on or before 10:00 AM (East African Time) 29th July 2020 (Wednesday). Please read the LITB and the annexes for detailed requirements and due dates.Please quote the LITB-2020-9158153 in all your correspondences. UNICEF reserves the right to accept or reject part or all of any or all bids.

ADDRESSUNICEF Ethiopia, UNECA Compound, Zambezi

Building, 2nd floor Supply Section, P.O.BOX 1169, TEL: +251-11 518 4142/4158, Addis Ababa, Ethiopia.

19



DING-DONG ! The Bells Are Tolling! It is a Wakeup Call All Countries of The Nile Valley!

By Dr. Eng Tsega Tibebu

1. IntroductionYes Ding-Dong! The bells are tolling! It is a wakeup call for all the countries of the Nile Valley and the African Union. The world is witnessing a shameful squabble between Egypt, Sudan and Ethiopia on the impounding ( water filling) schedule of a dam in Ethiopia. It is worth noting that Egypt is harvesting a great benefit by using the waters of the Blue Nile for all aspects of its related development. The unbalanced water sharing between Ethiopia, Egypt and Sudan, has been going on for centuries, with negative result of unquantifiable loss of valuable opportunities of water resources development in Ethiopia. Accordingly, a change of norms and procedures are required to allow all the Nile valley countries to be equal beneficiaries of their water resources. The following brief historical account will clarify the existing situation. 2. Brief Historical BackgroundSince the prehistoric times, the Nile has been flowing unimpeded downstream to the Sudan and Egypt. This situation has helped the development of a legendary saying, that Egypt is the gift of the Nile. Following this proverbial saying, a myth has also developed to the extent that the flow of the river was controlled by some Gods, which the Egyptians were said to worship. The worship of the Gods was known to reach a climax, both when the river raged by overflowing its banks, and when it flowed below normal flood level. During the times of excess flow, the river was noted to have a devastating effect on the Egyptian population and surrounding areas. On the other hand, when the river flowed at very low stage, it was a sign of impending famine due to absence of adequate water that was essential for farming. With regard the Egyptian‘s strong attachment to the Blue Nile, the role played by the British during the colonial period is worth recalling. The British were known to have influenced them to believe that they were the rightful beneficiary of the Nile water. A proof of this assumption could easily be found in the various water partition agreements, which were drafted by the British during the colonial times and which were signed both by Egypt and Sudan, by excluding all the other Nile Valley countries. This is perhaps one of the main reasons as to why the Egyptians have adopted a wayward attitude to the construction of the Grand Renaissance Dam, which is being built by Ethiopia. Logically speaking and considering the facts on the ground, there are ample possibilities for both Egypt and Sudan to be free from complete dependence on the Blue Nile. The following is an account of alternative possibilities which could lead to harmonious development of all the inhabitants of the Nile valley.3. Alternative Water Resources

Development Possibilities for Egypt and Sudan

The following alternative possibilities for water resources development require

serious study to arrive at the most sustainable benefits:-a) The Nubian Sandstone Aquifer Systemb) The Mediterranean and the Red sea

sources for desalinationc) The lake Victoria storage with Jonglei

canal scheme d) Diversion from the Congo rivere) Recycling of domestic, industrial and

irrigation canal wastesi. The Nubian Sandstone Aquifer SystemThe Nubian Sandstone Aquifer System extends all over Egypt, eastern Libya, northern Chad and northern Sudan. Recent estimates show that it is about 450,000 cubic kilometers in volume. To cite an example, the Nubian Sandstone Aquifer development scheme by Libya could be mentioned. The successful irrigated farm development by that nation has helped it to be exporter of agricultural products, and has led it to attain a high standard of living. A similar development scheme could relive Egypt from complete dependence on the Blue Nile River. ii. The Mediterranean and Read Sea

Desalination AlternativesHumanity is now living in what is known to be the twenty first century and decades have passed since man has split the atom, and now we are proceeding to what is known as ‘fusion energy’. Whatever the progress in that direction, the desalination of sea water is already becoming economically feasible due to cheap electric energy. As a result, the desalination of water from either the Red Sea or the Mediterranean sea proves to be an attractive alternative source of water for Egypt and Sudan. So, ding-dong! The bells are tolling! It is a wakeup call for our Egyptian and Sudanese brothers, who are in deep sleep given the fact that eight years have passed since the official commencement of the construction of the Grand Renaissance Dam in Ethiopia. Needless to state that the duration was more than adequate, to plan and execute any of the alternatives, that are being mentioned in this article. iii. Storage In lake Victoria With a By-

pass Canal Across the Sudd From information obtained from the British administration of both Sudan and Egypt, during colonial times, we know a scheme to build a water storage dam Lake Victoria for the purpose of augmenting the flow of the White Nile. It is known that the Blue Nile comprises about 85 % of the total Nile flow from many years of measurements at the gauging station in Khartoum. Neglecting the flow contribution of the Sobat River, which originates in Ethiopia, the flow contribution of the Blue Nile amounts to about 50 billion cubic meters per year. By contrast, the contribution of the White Nile is only 14 billion cubic meters, as found by many years of measurement at Khartoum. Naturally, this great difference in flow volume is one of the main causes of the

great Egyptian attachment to the Blue Nile. The main difference in flow between the two rivers is caused by the presence of a wide expanse of marshy depression, which obstructs and traps the White Nile and lets it to waste its water by evaporation. The marshy is known to extend for some 8000 square kilometers in normal times and another additional 8000 square kilometers during the wet seasonal floods. What little amount of flow that remains, trickles down to joins the Blue Nile finally at Khartoum.

iv. Diverting Part of the Voluminous Flow Of the Cong River

The flow of the mighty Congo river is estimated to be 40,000 cubic meters per second, most of which empties into the Atlantic Ocean. It has a gigantic electric generating potential of about 44,000 megawatts. Common sense shows that a considerable volume of water could be transferred to the Nile valley for any required purposes downstream. It is therefore an appropriate time for all the Nile valley countries to forge a cooperative union for the proper management of their natural resources. Piece meal projects, with the sole aim of building personality cults should be discouraged and be replaced by a wider scope which focuses on the benefit of the entire continent. Finally, with regards to the alternatives enumerated above, the last two should be preceded by preparation of a Nile valley water resources master plan for proper sequencing of feasible and sustainable projects. Therefor it should be emphasized that these two diversion schemes and any other one that could be planned, should focus strictly to the mutual financial, environmental benefits of the African people without any possibility for smuggling any water outside the continent. Concluding RemarksThe squabble on the formation of a time table for the filling of the Grand Renaissance Dam of Ethiopia is regrettable. It is pure elementary economics which

governs the commissioning of project. It is elementary economics to sense that the money invested on any project should be amortized within a specific period of time. The world knows that the construction of the Grand Renaissance dam was officially started eight years ago, thus giving ample time for providing any alternative solution for any imaginary or real water stress expected downstream in Egypt. Given the fact that the Grand renaissance’s storage capacity of about 74 billion cubic meters, it becomes purely a puzzle to schedule water impoundment, every time it exhausts its storage for electric generation. The water filling schedule should be automatic without any third party interference. Accordingly, the current agenda for discussing the reservoir impounding schedule becomes purely impractical, from the fact that it becomes repetitive every time the stored water is exhausted for electric generation. Accordingly, the discussion agenda should have been right from the beginning, on finding possible alternative solutions, which the Egyptians should or could implement. However, whatever the current situation, it is quite appropriate for Egypt to compensate for any possible financial loss, that would accrue by any delay of the commissioning of the dam. As shown in the above possible alternatives, the hurly-burly of negotiation on the delaying of the reservoir filling is quite a comedy, because it is surely a repetitive action required, every time the storage is exhausted by the yearly electric generation. So ding-dong! The bells are tolling! It is a wakeup call for the Nile Valley Countries and the African Union, to setup guidelines for the proper and sustainable management of their natural resources. It is also time to nominate the Ethiopian Prime Minister Dr. Abiye Ahemed and his crew, as ambassadors for Environmental Protection and Regeneration, to help them create a mass movement for planting trees, across all the Water Towers of Africa!

20



21



22



No. MOVIE TITLE DOMESTIC GROSS INTERNATIONAL GROSS RATE

1. Fright Night $18,302,607 $41,002,607 6.32. Vampires $20,308,772 $20,308,772 6.23. Byzantium $89,237 $828,284 6.54. Thirst $318,574 $13,085,023 7.15. Vampire’s Kiss $725,131 $725,131 6.06. Blade $70,087,718 $131,183,530 7.17. From Dusk Till Dawn $25,836,616 $25,836,616 7.28. Shadow of the Vampire $8,293,784 $11,155,214 6.99. Bram Stoker’s Dracula $82,522,790 $215,862,692 7.410. Nosferatu $19,054 $19,054 7.9

Source: GQ Online Stream

ByzantiumDirector: Neil JordanWriters: Moira Buffini Genre: Fantasy HorrorRunning Time: 1hr 58min

Fright NightDirector: Craig Gillespie Writers: Marti NoxonGenre: Comedy HorrorRunning Time: 1hr 46min

VampiresDirector: John CarpenterWriters: John SteakleyGenre: Horror Thriller Running Time: 1hr 48min

ThirstDirector: Chan-wook Park

Writers: Émile Zola Genre: Horror RomanceRunning Time: 2hr 14min

Vampire’s KissDirector: Robert BiermanWriters: Joseph MinionGenre: Comedy HorrorRunning Time: 1hr 43min

The game is easy, the rules are simple. All you have to do is make sure you fill every 3x3 box every row and every column, without repetition, using the number 1-9.

Sudoku

FRIGHT NIGHTThis movie is the remake of the 1985 film and is about Charley

Brewster who lives in the desert suburb on the outskirts of Las Vegas. His neighbor Jerry ('Colin Farrell') has his windows

all blacked out which catches the attention of Charley friend and "geek" Ed who is sure that Jerry is a vampire. As time goes by some other friends and students of Charley's school start disappearing and Ed tells him that he is sure Jerry is behind it. Then when Ed doesn't turn up at school Charley checks it out for himself and breaks into Jerry's house, as a result he see's more than he bargains for and ends up with Jerry on his back. Charley ends up getting his family and friends involved in something they should have never been a part of. He has to get a self proclaimed vampire killer Peter Vincent ('David Tennant') to help him save him and his friends from an eternal damnation as vampires from being "turned" by Jerry.

BEST OF

23



DOWN1 __ in the woods (innocent

one)2 Unseal3 Newspaper's essay page4 North Pole assistant5 Postponed6 Sahara beast of burden7 High poker card8 __ down (lose weight)9 Adjust, as a guitar10 What pirates called the

Caribbean11 Interrupt on the dance floor

12 In a group of13 Dance that ''takes two''18 Milky-colored gem23 Aid and __ (help in a

crime)24 Northern New England

city25 Layered pasta dish27 Dot on a Pacic map28 Twirled29 Become split

31 Distress signal at sea32 Castaway's house35 Plays on words36 __ no. (bank statement

ID)37 __ and wherefores

(reasons)39 Canyon's edge40 Lowest sudoku digit43 Procedures44 Perceive in advance46 Hydrant attachment47 Clenched hands48 Nebraska city49 First full month of

spring51 Needing cleaning, as a

tabletop53 Loafer or pump54 Innumerable years56 Sheet of a book57 __ about (roughly)58 Refuse to approve61 Fabric tear62 Film studio with alion mascot

Solution: see below

ACROSS1 Shouted angry

disapproval6 Group of actors10 ''Shoo!''14 Source of cider15 Rights org.16 Mountain lion17 Chinese long-

noodle entree19 Fall like __ of bricks20 Finish up21 Gibbon or gorilla22 Dictionary denition24 ''__ means'' (''Sure'')26 Five-in-a-row ''card''

game27 Tel Aviv's country30 Campre remnants33 Make purchases34 Lefty pitcher38 Breathing organ

39 Cook chicken in an oven

41 ''__ obliged'' (''Thank you'')

42 Funding, as a scholarship

44 Posh, as a restaurant45 Japanese noodles46 Lifts with a crane47 With lots of lather50 Add decorations to52 Stalemate in

negotiations55 Employ56 Peas' natural holder59 Dress of India60 Mare's owing hair63 Not at all thick64 ''Don't bet __!''65 Goad into action66 Reduced-price event67 Catch sight of68 Nail le material

CROSSWORD PUZZLE

WEEKLY HOROSCOPES

Aries Cancer Libra Capricorn

Taurus

Gemini Virgo Pisces

This is a positive week for having fun and finding people who appreciate all

you do. Tuesday can be frustrating. Situations that should be working well may not offer the comfort or satisfaction you expect. Career opportunities will be stronger if you're well groomed and well dressed. Client relationships become complicated if you're uncompromising. You might feel insecure and overreact in an innocent situation. Keep your sense of humor!

Events can trigger a wave of intense and vulnerable feelings. Avoid taking on unnecessary blame or responsibility

for events. Your kind heart could see you making big sacrifices for the good of others. As happiness keeps you healthy, unhappiness makes you quite sick. Do all you can to avoid obsessive worry. Ask for help in any situation where you need clarification or support. You are well respected and co-workers will come to your rescue.

Expect to make productive new contacts this week. Your ability to find common ground can make you stand

out in meetings. Your dedication and loyalty to your employer will shine this week. Thursday is a fortunate day to ask for what you need. Conversations with other staff will provide useful information. Don't be afraid to speak up for what you need. Refuse to give up on a difficult or confusing relationship.

Stand your ground and be assertive with someone who doesn't appreciate your point of view. Expect to juggle multiple

demands. You may need to find a quiet spot in which to work so you can get away from distractions. Slow down and force yourself to concentrate. This may mean temporarily putting some projects on the back burner. Emotions can be running high. you may say something that a sensitive co-worker will take the wrong way.

There is still some risk this week that another's moods and suspicions will trigger problems at work. Try to see the

positive side of any situation and be more trusting. Opportunities at work can move in your favor. Midweek is positive for finding a new or improved position. Be patient with delays and complications this week. Getting your way isn't as important as enjoying what life as to offer. Accept a slower pace.

Taking a gentler approach will help you successfully work through problems you may be having with co-workers or

clients. Your quick wit makes you extremely charming as long as you aren't too cutting in your remarks. Midweek can bring major demands. You're likely to crave quiet and may need to shut your door or work alone. Shutting out distractions will allow you to be more productive and less stressed.

This week is ideal for moving in a new direction. It also supports team

development. Managers need employees with the training, skills, and resources to do their best. A balanced workload that supports people's strengths and their need to be independent will be the most effective. You can be unusually demanding of co-workers. Week's end is an excellent time to think about how your work affects you physically.

Leo

Under the continued strong influence of the stars, you'll be likely to state your opinions forcefully. Watch out for costly

mistakes though. A slow and careful approach is best. Be careful with your work; take the time to proofread and check your facts. Things will be quieter after Wednesday. You'll be able to focus on work that needs completion. You may still have a few interruptions, but you'll generally be productive.

Scorpio

Any area where you feel most at home is a good place to be early this week. Your determination and stubbornness will

outlast the competition. People will feel better if they think their opinions count. You may feel a strong need to analyze everything you encounter midweek. Worry can make things seem worse than they actually are. You'll definitely be your own worst critic. It's important to take a relaxed approach.

SagittariusYou may feel a strong desire to be up and on your feet this week. It's possible you'll be criticized for not watching the

clock. It's important to be organized. Know what you need to do and set manageable deadlines, reasonable hours, and clear job descriptions. Your need for variety is strong. Consider studying a new skill. You may do something with nerve rather than really know what you're doing at week's end.

This is a good week to do things that are fun. Stubborn people who insist on

doing things their way can be frustrating. You will outlast any rebel in the group. Make sure important information is current and easily accessible on Wednesday. This includes keeping clear records and up-to-date reports. The star's alignments improve your ability to communicate at the end of the week. Do your best to be a good listener.

Aquarius

You'll be a bit less bouncy and restless as the week begins. Friendships at work improve when you're able to listen

and share with full attention. Midweek is a very social time. You may not want work alone. This is a wonderful time for group projects and using a bit of fun to improve everyone's spirits. Your fun-loving and optimistic manner is much appreciated. The energy on Saturday increases your sensitivity to others' needs.

Crossword Solution

24



25



DASHEN BANK S.C“Interior Design

Competition”Open Tender NO. DB/004/OT/2020/21

1. Dashen Bank S.C invites bid from interested qualified consulting firms to tender the terms of reference for Design Competition of Assessment Center and Center of excellence (on Existing Building).

2. The competition is a single stage project competition for selected Grade 4 & above registered Consultants and Architects.

3. Interested and eligible bidder(s) are invited to purchase the bidding document starting from July 27, 2020 from Supply Chain Management Department, New Headquarter Building 14th floor, in front of National Bank of Ethiopia having paid non-refundable fee of Birr 100 deposited in account Number 180020002 at any Dashen Bank Branches & Present copy of credit advice ticket during the office hours (Monday to Friday 8:00 AM-12:00 PM, 1:00-5:00 PM and Saturday 8:00 AM-12:00 AM).

4. Birr 30,000.00 (Thirty Thousand) shall be presented as abid security in the form of Bank guarantee or cashier’s payment order (CPO) at least valid till September 30, 2020G.C.

5. The sealed bid document shall be placed in the box prepared for this purpose on/or before August 25, 2020 at 2:00 PM Afternoon at Dashen Bank S.Co Supply Chain Management Department, Dashen Bank New Head Quarter Building 14th floor in front of National Bank of Ethiopia.

6. Bid opening shall be conducted without physical attendance of bidder(s) or legal representative(s) due to the current pandemic COVID-19. The procurement committee of the Bank shall open the bid transparently at the avenue of Dashen Bank, 14th floor, Supply Chain Management Department, meeting hall at August 26, 2020 at 3:30 AM morning.

7. The Bank reserves the right to accept or reject the proposal either partially or fully.

8. For any information you may contact with e-mail

Tel No-0115180356 Ext-3152/3038,[email protected].

Dashen Bank ALWAYS ONE STEP AHEAD!

RESUME

BIG PICTURE PERSONALS

STARTUP CAPITAL 15,000 Birr

CURRENT CAPITAL Growing

Reasons for starting the business: To bridge the gap

between employers and jobseekers

Biggest perk of ownership: Making better opportunities for unfavorable community

Biggest strength: Knowing right

candidates for the right job

Biggest challenging: Illegal brokers

Plan: To help job seekers and organizations find opportunities to be

successful

First career: Accountant

Most interested in meeting: Aliko Dangote

Most admired person: Etege Tayitu

Stress reducer: Time with friends

Favorite past time: Playing

ground tennis

Favorite book: Rich Dad Poor

Dad

Favorite destination: Dubai,

UAE

Favorite automobile: Mercedes Benze

Name: Mamil Masresha

Education: BA in Accounting

Company name: Sira App

Title: Co-founder and CEO

Founded in: 2018

What it does: Opportunity Matching

HQ: Addis Ababa

Number of employees: 10

Pause the moment

On first arriving in Guilin, China, you may feel like you have stumbled into J. R. R. Tolkien's Middle-earth. At any moment you might see Gandalf the Wizard galloping across the plains

on his white steed or a dragon roaring down from the sharp cliffs. Guilin, however, is no trick of a novelist's imagination. Its more than 5,180 square kilometers of karst landscape is the result of a perfect alchemy of geological conditions. Located in the northeast of the Guangxi Zhuang Autonomous Region, Guilin is one of China's leading tourist locations. The Guilin Liangjiang Airport serves approximately 50 domestic and international air routes. Most Western visitors spend a day or two in Shanghai or Hong Kong before coming here, which is only an hour away by plane. Many people prefer, however, to take the train rather than fly.

GUILIN, CHINA

26



ASHENAFI joined

Hadiya-Hossana

in one year contract

Ethiopian national team former Coach Ashenafi Bekele left Adama Kenema to join Hadiya Hossana the side that had been bottom of the league table when the season

was suspended due to Covid19 pandemic. Ashenafi is said to reach Hossana with a long shopping list of players as the team needs an overhaul change to bring it back in to competitive level. Following the arrival of one of the country’s most travelled coaches, the Southern Region side is expected to be the destination of a huge influx of

new players including foreigners with years of experience in Ethiopian Football. Saving Wolayta-Dicha from relegation in his brief stay with the team in 2019, Ashenafi moved to Adama Kenema for his second spell until his contract came to an end at the end of June this year. Although his brief second spell with Adama was not that impressive for the team was ninth in the table with 22 points, the former Banks, Mekelakeya, Sidama Bunna and Wolayta-Dicha Coach is said to amass a firsthand experience with struggling teams thus Hossana will benefit from that. Ashenafi took over from notorious Tsegaye K/Mariam who served only a month in to his six months tenure before the season was suspended.

Tyson, the former undisputed heavyweight boxing champion, will fight Roy Jones Jr. in an eight-round exhibition match on

Sept. 12, entitled the “Frontline Battle.” The match will be a pay-per-view event hosted by social media platform Triller, the company announced. According to a person familiar with the terms, Triller paid north of $50 million for exclusive streaming rights for the exhibition. The person spoke to CNBC on condition of remaining anonymous as financial details of the fight were not public.Leading up to the fight, Triller will create a 10-part docuseries that will feature exclusive footage of the fighters leading up to the match, releasing two episodes per week. And the event will “include significant undercard matches as well as iconic musical performances to be announced in the coming weeks,” the company said in a statement.

Tyson, 54, finished his career with 50 wins, including 44 knockouts. He last fought Kevin McBride on June 11, 2005 in a loss. He became the youngest boxer to win a heavyweight title at age 20, holding WBA, WBC and IBF titles throughout his career. The former champion also announced the launch of Legends Only League, a new sports venture, which he called in a statement a “dream of mine to create, build, and honor athletes.”Jones, 51, retired in 2018 after finishing his pro boxing career with 66 wins, including 47 knockouts. Jones held titles as a middleweight, super middleweight, light heavyweight and heavyweight.Triller, a video-editing app that’s gaining popularity in the music industry, is looking to gain more brand awareness with Tyson’s fight as it competes with TikTok, who’s parent owner ByteDance is valued at roughly $110 billion.

Mike Tyson to fight Roy Jones Jr on 12th September

Zeray, Fasil: handed a two year contract extension

Despite no news from Ethiopian Football Federation about how and when the premier league new season starting date, top tier clubs have already started renewing contracts with coaches as well as players.

Emerging soccer power Sidama Bunna and Bahirdar Kenema are the latest to renew contracts to their respective coaches. Newly groomed Sidama Region football club Sidama Bunna handed a two year lucrative contract to Zeray Mulu. The hardworking, humble and friendly personality, Zeray is considered a miracle performer at Sidama building a side capable of strong title contention in the past two seasons. Taking over since 2018 midseason Zeray helped Sidama finish third in 2019 and fourth this year when the season suspended due to Covid19. “We have so many home works before the start of the season including signing additional fire powers plus rebuilding our defense line to stay strong in the title contention” Zeray told reporters. A remarkable first season including unbeaten homerun at Bahirdar Kenema, Fasil Tekalegn is handed a two years contract extension. Fasil Tekalegn who started his coaching carrier at Saint George Youth team took his first job as assistant at the senior team as well as the national side. Learning the ropes under five different foreign coaches Fasil’s solo mission at “The Blue’s” turned out a success story thus a two years contract along with a green light to sign additional fire powers for the coming season. Eight wins, three draws and six defeats Bahirdar was fifth on the league table before the Premier League was suspended in March.

27



Ever catch the perfect picture with your digital camera or camera phone and wish you could find a way for others to experience it? Here is your chance. If you find yourself at the right place at the right time and happen to catch an amazing scene you believe someone else should see, send us your news pictures with no more than 30 words to [email protected] and we will publish it. Spotlight

PHO

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CELEBRATIONS

PHO

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COVID BOX

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MEN AT WORK

IFC invests $5.6 billion for private sector development IFC, a member of the World Bank Group, committed $5.6 billion to private sector development in the Middle East and sub-Saharan Africa in fiscal year 2020, supporting businesses across the two regions to launch, grow, provide jobs and fight the impacts of the global COVID-19 pandemic.In addition, IFC committed nearly $2 billion in short-term trade financing to support small and medium-sized enterprises (SMEs). In sub-Saharan Africa, between July 1, 2019 and June 30, 2020, IFC committed $4.6 billion in investments to private firms across the region. Despite the challenges of delivering during a global health pandemic, IFC exceeded its fiscal year 2019 commitment of $4.1 billion.Investments focused on sectors including healthcare, agribusiness, solar energy, housing finance, infrastructure, and financing for small and medium-sized enterprises (SMEs), including in fragile and conflict-affected situations (FCS) where IFC committed more than $1.2 billion in investments.In the Middle East and North Africa, where the COVID-19 pandemic has led to declines in oil production, tourism revenues, and remittances, IFC invested more than $1 billion, including to support the construction of hospitals and clinics in Iraq, Jordan, Egypt, and Morocco.Sérgio Pimenta, IFC Vice President for the Middle East and Africa, said, “Countries in the Middle East and Africa were making significant progress before the COVID-19 pandemic struck and at IFC our goal was to unlock private investment and create markets and opportunities to support that progress. In the wake of the economic crisis brought on by the COVID-19 pandemic, we stepped up the momentum to help our clients stay in business and maintain jobs which are critical to economic growth and livelihoods. We applaud the perseverance and resilience of the small, medium and large businesses that are the foundation of economies in Africa and the Middle East and we will continue to support them in the next phase of the crisis and through the recovery.”

African authorities deploy KC Wearable Smart Helmet to combat spread of COVID-19With over 720,000 confirmed cases across Africa, COVID-19 has already claimed almost 16,000 lives. In their efforts to reduce the devastating impact of the disease, several national authorities have partnered with leading technology and innovation company KC Wearable to use company's KC N901 Smart Helmet.The helmet can detect fevers, the most prevalent COVID-19 symptom, with 96% accuracy. South Africa was the first African country to use the helmet following a surge in cases last month and it is already being used in airports and logistics hubs across Cape Town, Durban, and Johannesburg. Authorities in Algeria, Egypt and Gabon are now also using the smart helmet, as they look to better protect their populations and avoid further escalation of the pandemic.Beyond Africa, the helmet is already being used in over 35 countries, including Indonesia, the UAE, Italy, Netherlands, Kuwait, Chile, and Turkey. KC Wearable has partnered with national authorities and major transport hubs such as airports, as well as schools and hospitals, to detect COVID-19 symptoms in a range of settings.With the ability to screen the temperatures of up to 200 people a minute, the helmet offers a quick and accurate alternative to traditional thermal cameras. The wearable headset improves the efficiency and flexibility of COVID-19 screening.

Facebook’s connectivity investments to grow Africa’s Economy by $57 billion Facebook released findings from The Impact of Facebook’s Connectivity Initiatives in Sub-Saharan Africa, a study conducted by Analysys Mason that highlights how Facebook investments in infrastructure and connectivity across the region will deliver over $57 Billion in Economic Benefits over the next five years (2020–2024). According to The Economist Intelligence Unit - Inclusive Internet Index 2020, over 800 million people in Sub-Saharan Africa are unconnected to the internet. Over the years, Facebook has invested in infrastructure and partnerships to address the barriers to connectivity, such as the lack of availability in infrastructure, affordability, relevance and readiness to get online. Also aiming to provide financial and technical inputs that can make infrastructure easier and cheaper to deploy within the continent, Facebook’s infrastructure investments and connectivity initiatives include investing in infrastructure that supports internet connectivity such as submarine cables. Facebook’s Africa Public Policy Director, Kojo Boakye, commented “at Facebook we’re committed to Africa and the role that we can play in improving the continent's global competitiveness. Over the last three years we’ve heavily invested in infrastructure and connectivity initiatives that aim to affordably connect people on this continent and create tangible social-economic benefits. These efforts are part of a complex solution that requires all stakeholders - including mobile operators, infrastructure providers and governments - to work together for the common good. We are only 1% finished and remain committed to this exciting journey and working with all our partners along the way.”

Radisson Hotel Group announces six new hotels in Africa, one in AddisRadisson Hotel Group announced the addition of six new hotels to its African portfolio, bringing the total to almost 100 hotels across 32 African markets.Building on the recent announcement of its reinforced African development team structure, the announcement of the six new hotels further demonstrates the Group’s commitment to the continent. Elie Younes, Executive Vice President & Chief Development Officer, Radisson Hotel Group, said “we believe in the vast potential of Africa. The addition of the six hotels, following the announcement of Radisson Hotel Saint Denis earlier this year places us firmly on track to reach over 150 hotels in operation and under development across the continent within the next five years. The new hotel announcements include our debut in new markets, the introduction of additional brands and the strengthening of our presence in cities we’ve identified for scaled growth. We thank our hotel partners for their invaluable trust in Radisson Hotel Group and its people.” One of the six hotels will be in Addis Ababa. Radisson Hotel Group’s fifth hotel in Ethiopia, scheduled to open in 2021, is located just 4km from Ethiopia’s newly expanded Addis Ababa Bole International Airport terminal, now the biggest airport aviation hub in Africa, expected to accommodate 22 million passengers a year.The 114-room hotel will boast a wide variety of food and drink outlets, the hotel will offer guests a truly local experience in a traditional Ethiopian specialty restaurant and bar and appease international taste buds in a bespoke all-day-dining restaurant which leads out into a pool bar. In addition, the hotel will also have a third bespoke panoramic bar.

28



S.N List of Item Unit Qty. RemarkLOT -I

1 Coat Hanger Pcs 96 2 Coffee Table Pcs 37 3 Computer/Printer Stand Pcs 23 4 Conference Table Pcs 2 5 Counter Chair (stool) Pcs 201 6 Filing Cabinet with four drawer Pcs 184 7 Photocopy Machine Stand Pcs 11 8 Guest Chair Pcs 202 9 Lobby Guest Chair with Two Seats Pcs 36 10 Lobby Guest Chair with Three Seats Pcs 132 11 Managerial Desk Pcs 31 12 Single Pedestal Desk (140x80 cm) Pcs 36 13 Office Sofa (Two Seater) set 2 14 Sorting Table Pcs 12 15 Storage Cabinet Pcs 7 16 Swivel Chair (High back) Pcs 109 17 Swivel Chair (Low back) Pcs 245 18 Dixon Shelf (for daily ticket) Pcs 448

LOT-II1 Fire Resistant Filing Cabinet Pcs 31 2 Big Safe (Vault 650 kg) pcs 8

LOT-III1 Automobile Pcs 2 2 Mini bus Pcs 1 3 Pick up single cabin Pcs 2 4 double cabin pick up Pcs 6

LOT-IV1 Crane Mounted Truck Pcs 1

LOT-V1 Note Counting Machine for Tellers Pcs 274 2 Note Counting Machine Heavy Duty Pcs 65

3Foreign Currency Detecting Machine (Multi Currency)/Dollar Detecting Machine

Pcs 33

LOT-VI1 Photocopy Machine (Medium) Pcs 50 2 Photocopy Machine (Heavy Duty) Pcs 2

LOT-VII1 Blower Pcs 63 2 Metal Detector (Hand Held) Pcs 70 4 Power Stabilizer 1500 watt Pcs 147 5 Ventilator (Window Type) Pcs 36

LOT-VIII1 Wall Clock with Dashen Logo Pcs 47

LOT-IX1 Fire Extinguisher 5kg CO2 Pcs 52

2 Fire Extinguisher 9 liter H2O Pcs 5 LOT-X

1 Television 49’’ LED Pcs 6

2 Television 32’’ LED Pcs 1

3 Super 4K LED 55’’ Television Pcs 13

2. Interested and eligible bidders are invited to purchase and collect the biding documents starting from July 27, 2020, from Supply Chain Management Department, New Head Quarter Building 14th floor, in front of National Bank of Ethiopia having paid non-refundable fee of ETB100 (One Hundred only)deposited in account Number 180020002 at any Dashen Bank Branches for each of Lots & Present copy of credit advice ticket during the office hours (Monday to Friday 8:00-12:00 AM, 1:00-5:00 PM and Saturday 8:00-12:00 AM).

3. Copy of renewed Trade License, VAT Registration Certificate and TIN Certificate are required while submitting the bid document.

4. Bid must be accompanied by a bid bond amount of For Lot I Birr 220,000.00

(Two Hundred Twenty Thousand)For lot II Birr 30,000.00(Thirty Thousand)For Lot III Birr 650,000.00

(Six Hundred Fifty Thousand)For lot IV Birr 125,000.00

(One Hundred Twenty Five Thousand)For Lot V Birr 280,000.00

(Two Hundred Eighty Thousand)For Lot VI Birr 25,000.00(Twenty five Thousand)For Lot VII Birr 15,000.00(Fifteen Thousand)For Lot VIII Birr 5,000.00(Five Thousand)For Lot IX Birr 4,000.00(Four Thousand)For Lot X Birr 35,000.00(Thirty Five Thousand

5. The sealed bid document shall be placed in the box prepared for this purpose on or before:August 10, 2020, 5:00 PM for Lot-I August 12, 2020 5:00 PM for Lot-II up to Lot-V August 14, 2020, 5:00 PM for Lot-VI up to Lot-X

6. Bid opening shall be conducted without physical attendance of bidder(s) or legal representative(s) due to the current pandemic CVID-19. The Procurement Committee of the Bank shall open the bid transparently at the avenue of Dashen Bank, 14th floor Supply Chain Management Department, meeting hall as per the following schedule.August 11, 2020, 9:30 AM Morning for Lot-I August 13, 2020 9:30 AM Morning for Lot-II up to Lot-V August 15, 2020, 9:30 AM Morning for Lot-VI up to

Lot-X7. Failure to comply with any of the conditions stated above

from No. 2 to 5 shall result in automatic rejection.8. The Bank reserves the right to accept or reject the bid

either partially or fully.9. For any information you may contact with Tel no. 011 5 18

0356 extension , 3152, and 3038 E-mail [email protected]/ [email protected]

Dashen Bank Always One Step ahead!

1. Dashen Bank invites all interested bidders for procurement of the under listed items

Open Tender NO. DB/003/OT/2020/21

CALL FOR TENDER

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30



CURRENCY BUYING SELLING

SOUTH AFRICAN R 2.1252 2.167704

KUWAITI DINAR 109.5394 11.730188

CHINESE YUAN 4.5513 4.642326

EURO 40.7913 41.607126

AUSTRALIAN DOLL 22.7125 23.16675

SAUDI RIYAL 8.4975 8.66745

SDR 49.151 50.13402

UAE DIRHAM 8.6751 8.848602

KENYAN SHILLING 0.3261 0.332622

JAPANESE YEN 0.2973 0.303246

INDIAN RUPEE 0.4707 0.480114

CANADIAN DOLLAR 23.8036 24.279672

DJIBOUTI FRANC 0.1956 0.199512

NORWIGIAN KRONE 3.4798 3.549396

DANISH KRONER 4.9598 5.058996

SWIDISH KRONER 3.5966 3.668532

SWISS FRANC 36.2575 36.98265

POUND STERLING 42.7524 43.607448

US DOLLAR 35.2135 35.91777

EXCHANGE RATE7-24-2020

Comment

Is the United States a . . . Continued from page 2

superpower.’ Such a political actor is neither separate from nor entirely subject to the state-centric system of world order that evolved from the Peace of Westphalia in 1648, and became universalized in the decades following World War II. Although lacking a true antecedent, the role of European ‘great powers’ or ‘colonial empires’ give clues as to the evaluation of the U.S. as a global state or geopolitical superpower; � effectiveness: the loss of effectiveness by a failing state

is disclosed by its inability to maintain and exert control over challenges to its supremacy. Such an assessment if vindicated by failed military operations (regime-changing interventions) and the inability to learn from and overcome past mistakes, disclosures of vulnerability to homeland security (9/11 attacks) and overly costly and destructive responses (9/12 launching of ‘war on terror’; declining respect and trust by secondary political actors, including close allies, in the context of global policy forming arenas, including the United Nations; as a further reflection of this failing dynamic of lost control is the pattern of withdrawal from arenas that can no longer be controlled (Human Rights Council, WHO) and the rejection of agreements that appear beneficial to the world as a whole (Paris Climate Change Agreement and Iran Nuclear Program Agreement-JCPOA;

� legitimacy: the legitimacy of a global state, which by its nature potentially compromises the political sovereignty and independence of all other states, reflects above all else, on its usefulness as a source of problem-solving authority, especially in war/peace and global economic recession settings; the degree of legitimacy also depends on perceptions by political elites and public opinion that the assertions of global leadership are in general beneficial for the system as a whole, and as particularly helpful to states that are vulnerable due to acute security and development challenges; in this regard, the U.S. enjoyed a high degree of legitimacy after the end of World War II, as a source of security, and even guidance, for many governments in most regions of the world throughout the Cold War, and was also appreciated as the architect of a rule-governed liberal economic order operating with the framework of the Bretton Woods institutions charged with avoiding recurrences of the Great Depression that undermined stability and economic wellbeing during the 1930s, developments that then contributed to the rise of fascism and the outbreak of a systemic war costing upwards of 50 million lives. The American leadership role was also prominent in achieving global public order in such settings as the management of the oceans, avoiding conflict in Antarctica and Outer Space,

establishing international human rights standards, and promoting liberal internationalism as a way to enhance global cooperative approaches to shared problems.

As suggested, the United States as a failing state has been graphically revealed as such by its response to the COVID-19 pandemic: refusal to heed early warnings; unacceptable shortages of equipment for health personnel and insufficient hospital capacity; premature economic openings of restaurants, bars, stores; contradictory standards of guidance from health experts and from political leaders, including falsehoods and fake news embraced by the American president in the midst of the health emergency. Beyond this, Trump adopted an inappropriate nationalist and commodifying approach to the search for a vaccine capable of conferring immunity from the disease, while at the same time immobilizing the UN, and especially the WHO, as an indispensable venue for dealing with epidemics of global scope, including its role in dispensing vital assistance to the most disadvantaged countries. These failings have shockingly resulted in the United States recording more infected persons than any country in the world, as well as having the highest incidence of fatalities attributable to the disease.In contrast, has been the responses of several far less developed and affluent countries that effectively contained the disease without incurring much loss of life or severe economic damage by way of lost jobs and diminished economic performance. Judged from the perspective of health such societies are success stories, and instructively, their ideological identity spans the political spectrum, including state socialist Vietnam to market-driven countries such as Singapore, South Korea, and Taiwan. Such results parallel the finding of Deepak Nayyar who reports in his breakthrough book, The Asian Resurgence (2019), that the remarkable growth experience of the 14 Asian societies that he empirically assesses, supports the conclusion that ideological orientation is not an economistic indicator of success or failure. Such findings are relevant in refuting the triumphalist claims of the West that the Soviet collapse demonstrated the superiority of capitalism as compared to socialism. The crucial factor when it comes to economistic success is the skilled management of state/society relations whether in relation to investment of savings in prioritizing development projects or seeking to impose a lockdown to curtail the spread of a deadly infectious disease.Yet, there is a normative side of response patterns as suggested above. China treats the desperate search for a workable vaccine as a sharable public good, while the United States under Trump maintains its standard transactional approach

despite issues of affordability for many countries in the South, as well as the poor in the North. From a 21stcentury perspective, the ethos of being all in this together is the only foundation for grappling with the increasingly challenging dilemmas of world order. It is a sign of a failing state, whatever its capabilities and status, to use its leverage to gain national and geopolitical advantages. Along this line, as well, is the normative disgrace of refusing to suspend unilateral sanctions imposed on countries such as Iran and Venezuala, already stressed, for at least the duration of the pandemic in response to widespread humanitarian appeals from civil society actors and international institutions.A final observation as to whether the U.S. vector points toward a failed or redemptive future. If Trump loses the election and gives up the White House to his opponent the prospects for reversing the failing trend improve, while if Trump is reelected in November or succeeds in cancelling the electoral outcome then the U.S, will have moved closer to being a failed state as the citizenry would have endorsed failure or the constitutional order shown to be enfeebled, insufficiently resilient to reject failure. Even if Trump is replaced and Trumpism subsides, the momentum behind predatory capitalism and global militarism will be difficult to curtail without a revolutionary push that rejects the bipartisan consensus on such matters and challenges the sufficiency of procedural democracy centered upon the role of political parties and elections. Only a progressive movement from below will shatter that consensus, ending laments about the U.S. being in transition from failing to failed. Whether the BLM leadership of a movement alternative is robust and comprehensive enough to end American freefall will become clearer in coming months.Note to readers: please click the share buttons above or below. Forward this article to your email lists. Crosspost on your blog site, internet forums. etc.

Richard Falk is an international law and international relations scholar who taught at Princeton University for

forty years. Since 2002 he has lived in Santa Barbara, California, and taught at the local campus of the

University of California in Global and International Studies and since 2005 chaired the Board of the Nuclear

Age Peace Foundation. He initiated this blog partly in celebration of his 80th birthday.

INFLATION/DEFLATION The Economy Is an Elephant

Charles Hugh Smith

This is the key dynamic of the economy going forward: defaults on debt, declining wealth as assets are relentlessly repriced lower and sharp declines in income due to layoffs and debt defaults.The economy is like an elephant surrounded by blindfolded economists and pundits: what each blindfolded person reports about the elephant depends on what part they happen to touch.This is why aggregate measures such as gross domestic product (GDP) and the consumer price index (CPI) will be misleading and therefore useless going forward: different parts of the economy might experience sharp deflation while other parts are experiencing rapid inflation. What each household and enterprise will experience depends on their exposure to these cross-currents.Adding up sharply deflationary and equally severe inflationary trends to get a total inflation reading near zero will be utterly meaningless. Let's review a few key sectors of the economy to see how different participants' experiences of the economy will be.Let's start with two of the apple carts the pandemic has knocked over: retail and commercial office space.

The first chart reveals the enormous surplus of retail space in the U.S. compared to other developed nations. Half of all U.S. retail space could vanish and we'd still have more than twice as much retail space per person as most of the developed world.Such a vast surplus and the implosion of demand suggests a highly deflationary future for retail space rents. Furthermore, empty retail = no income for landlords = default on mortgages = bank losses = banking crisis. How much is empty retail space worth when the prospects of ever getting a paying tenant are poor? The answer is zero, or even less than zero, since the owner still has to pay property taxes, liability insurance, maintenance, utilities, etc.The same dynamic dominates the commercial office space there's a massive surplus of office space while demand is imploding as marginal businesses fold and remote work becomes the desired setting for millions of digital workers and the default setting for employers anxious to avoid lawsuits arising from needlessly exposing their workforce to crowded offices.What's the value of an empty office tower if the current owner overpaid and has a mortgage that far exceeds any realistic valuation based on 50% vacancy rates for the foreseeable

future?Next up-lofty rents for apartments in previously hot metro areas like San Francisco and NYC. Rents in the S.F. Bay Area are up 60% from 2009, far more than most renters' income gains in the same period. If the exodus from these hot markets accelerates as layoffs gather momentum, rents could fall far more than many expect.Then there's the core problem with our entire economy: debt payments are fixed, income and profits are not. Take a quick glance at the chart of student loans, now pushing $1.7 trillion, and ponder how many of the Millennials who have to make these fixed debt payments were employed in sectors that have collapsed: tourism, restaurants, musical venues, gig economy, etc.Recall that every debt that crushes the borrower is an asset that yields monthly interest to the affluent owners of that debt. When unemployed people default on their student loans, the value of those loans falls, and the income flowing to the affluent owners of the debt drops to zero.This is the key dynamic of the economy going forward: defaults on debt, declining wealth as assets are relentlessly repriced lower and sharp declines in income due to layoffs and debt defaults.

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