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SAF registry goes live

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The International Air Transport Association (IATA) has launched the Sustainable Aviation Fuel (SAF) Registry with its release to the Civil Aviation Decarbonization Organization (CADO). The Registry, now live under CADO management, will enable a global market for SAF that will accelerate the transition to net zero emissions by 2050.

“Aviation’s decarbonization is a team effort. In releasing the SAF Registry to CADO for launch, we have put in place a critical platform for the benefit of all stakeholders. It ensures that all airlines in the world have access to SAF and that their SAF purchases can be claimed against any climate-related obligations in this domain. The Registry will record the environmental attributes of SAF purchases in an immutable way, safeguarding against double counting. Airlines, their corporate customers, fuel producers, regulatory bodies, and all related organizations will be able to record and account for their SAF transactions in a global market for SAF. While this is of fundamental importance and a historically momentous advance, it is but one step along the way to a mature, transparent, and liquid global SAF market. The Registry cannot produce miracles on its own, but without it, no miracles can be produced.

Further progress requires active policy support for the ramping-up of all renewable energy production, and for SAF within that production. Governments must reallocate their direct support given to fossil fuel producers in favor of renewable energy production. The precedent of the wind and solar energy markets is the example to follow, and this without any further delay,” said Marie Owens Thomsen, IATA’s Senior Vice President Sustainability and Chief Economist.

The SAF Registry is a global system to record SAF transactions in a standardized and transparent way. It ensures that the environmental benefits of SAF can be tracked as they move across the SAF value chain and enable the claiming of these against regulatory obligations and voluntary schemes by airlines and corporate customers.

The Registry helps solve the challenge of limited SAF supply —which is acutely scarce and available in only a few locations globally —by connecting airlines with SAF producers and suppliers, regardless of their geographical location. In addition, it gives airlines’ corporate customers access to in-sector emissions reductions and capitalizes on firms’ capacity to co-finance the cost of decarbonization.

The SAF Registry is technology and feedstock neutral, favoring the emergence of diverse SAF production streams across the world. It will be able to accommodate specific regulations, while favoring global harmonization. Moreover, interoperability with other registries is an important feature of the Registry, supporting competition and open markets.

The Registry was developed in consultation with airlines, government authorities, OEMs, fuel producers and suppliers, and corporate travel management companies. With over 30 early users (see appendix) already in the process of onboarding and ready to use the system, the Registry is underpinned by the IATA SAF Accounting and Reporting Methodology which provides a consistent approach to accounting for the environmental benefits of SAF purchases, regardless of location. 

Participation in the SAF Registry will be free until April 2027, after which it will be operated on a cost recovery basis.

Djibouti Forum 2025: Unlocking Opportunities for Regional and Global Growth 

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The second edition of the Djibouti Forum is set to take place from April 6 to 8, 2025, bringing together influential leaders in finance and industry from over 50 countries. Hosted by the Fonds Souverain de Djibouti (Sovereign Wealth Fund of Djibouti), this exclusive gathering aims to catalyze investments across Africa, highlighting the Horn of Africa’s pivotal role in driving regional growth and development.

The Djibouti Forum 2025 is designed to connect Africa’s financial and business community, guiding them in seizing the continent’s growing commercial and investment opportunities. Dr. Slim Feriani, CEO of the Sovereign Wealth Fund of Djibouti, emphasized the strategic importance of Djibouti as a hub for facilitating partnerships in the region. “Djibouti, situated at the intersection of Asia, Africa, the Middle East, and Europe, is the ideal strategic partner for our region’s growth and development,” he noted.

The event will host financiers managing over $2 trillion in assets, with strong participation from sovereign wealth funds, institutional investors, and leading development finance institutions. These include the Arab Bank for Economic Development in Africa (BADEA), the African Development Bank, the International Finance Corporation, the African Finance Corporation, the Trade and Development Bank, and Afreximbank.

The Forum will feature a distinguished lineup of speakers, including Sidi Ould Tah, President of BADEA; Solomon Quaynor, Vice-President for Private Sector, Infrastructure and Industrialization at the AfDB; Admassu Tadesse, President and Managing Director of the Trade and Development Bank Group; and Aminu Umar-Sadiq, CEO of the Nigeria Sovereign Investment Authority.

Key themes will include exploring future economic megatrends and their impact on the continent, the role of African multilateral development banks in driving growth, and strategies to enhance trade routes and connectivity within Africa and with global markets. The Forum will also delve into the transformative role of energy in economic growth and sustainability, digital transformation, and the expansion of the tourism sector across Africa and the Middle East.

Djibouti’s strategic location at the crossroads of Africa, the Middle East, and Asia makes it a critical player in global trade. Its ports serve as vital links in international shipping routes, facilitating commerce between continents. The country’s stable political environment and robust infrastructure make it an attractive destination for investment.

Djibouti’s Vision 2035 outlines a comprehensive plan to diversify its economy, focusing on sectors such as logistics, energy, telecommunications, and tourism. This vision positions Djibouti as a key commercial, logistics, port, and digital hub.

The Djibouti Forum 2025 aims to foster meaningful discussions and catalyze new investments across Africa. It will provide a platform for investors to explore unparalleled opportunities in energy, ports and logistics, hospitality, and financial services. The event is expected to drive impactful discussions and meaningful collaborations among the 400 international and regional high-level delegates attending.

Forex auctions face transparency concerns amid market volatility

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The National Bank of Ethiopia (NBE) has expressed concerns regarding the misuse of a foreign exchange (forex) auction held a month ago by commercial banks. The NBE accused certain banks of acquiring forex only to resell it at inflated rates in the interbank market.

This strong criticism was directed at bank executives during an extraordinary meeting on Monday, March 31. Officials specifically targeted institutions involved in the February 25 forex auction—the second auction since the onset of Ethiopia’s macroeconomic reforms last July.

Sources within the banking sector informed Capital that the central bank rebuked certain banks for their speculative activities. The NBE alleged that some banks participated in the auction not to fulfill genuine foreign currency needs but to capitalize on reselling the forex in the interbank market.

Typically, banks are expected to purchase forex from the interbank market solely to meet customer demands or their own payment obligations.

However, the NBE contended that some banks were engaging in speculative practices, buying forex at auction only to sell it later at a higher rate.

Banking experts caution that such behavior distorts the market, likening it to commodity trading rather than responsible financial intermediation.

 They highlighted that the outlier rate, significantly above the weighted average of 135.62 birr, suggests market manipulation rather than authentic demand.

One senior bank president supported the NBE’s position, stressing that banks should act responsibly instead of exploiting the system for short-term profits. “If this were due to a severe dollar shortage, the bidder would have sought a larger allocation,” noted a banking executive.

During the February auction, one bank reportedly bid as high as 142 birr per dollar to acquire 2 million out of the USD 60 million offered, a move experts argue does not reflect true market demand.

“If such a high rate were driven by severe forex shortages, we could understand, but the bank offering this rate sought only a small portion of the total auction amount,” remarked a bank president.

The central bank also criticized banks for imposing excessive service charges on forex sales, with some banks demanding fees as high as 11-12%.

“No other country imposes such steep charges. Banks should reduce rates, especially for larger forex purchases,” commented one executive.

Following the March 31 meeting, the April 1 forex auction experienced a more stable outcome, with a weighted average rate of 131.71 birr per dollar, reflecting a 3% drop from the previous auction.

The NBE also announced that auctions will now take place biweekly at least until the end of the fiscal year (June 30), a move bankers believe will help curb speculation.

“The central bank’s decision to regularize auctions has helped stabilize expectations,” said one banker to Capital.

The NBE’s stricter oversight underscores its commitment to ensuring that forex auctions serve their intended purpose of supporting genuine demand rather than facilitating speculative trading, according to financial industry experts.

The NBE reported that 12 commercial banks successfully bid for portions of the USD 50 million foreign exchange allocated in the April 1 auction.

After the meeting on Monday, the NBE issued a statement indicating that since the launch of the comprehensive macroeconomic reform program in July 2024, Ethiopia’s balance of payments position has shown steady and significant improvement, driven by rising exports, remittances, and capital inflows.

“In recent months, particularly, the delivery of record-high gold supplies to the NBE (the sole authorized gold exporter in the country) has boosted the central bank’s gold stocks and increased the level of foreign exchange reserves beyond the NBE’s initial expectations,” the statement added.

Ethiopia’s foreign currency reserves have surged by 200% since last year, surpassing the fiscal year’s target, Central Bank Governor Mamo Esmelealem Mihretu announced in a video statement.

REQUEST FOR PROPOSALS FOR

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Request for Proposal for ESTABLISHMENT OF LTA FOR THE PROVISION OF FUMIGATION AND DERATIZATION SERVICE 

LRPS-2025- 9196587

UNICEF (Ethiopia) wishes to request eligible bidders to participate in a Request for proposal (LRPS)  FOR ESTABLISHING OF ARRANGEMENTS  for the provision of FUMIGATION AND DERATIZATION SERVICE. 

Details of the requirements for this bid and eligibility criteria etc. can be found in the bid document.

Interested and eligible bidders can get the bid document with the below links;

2merkato.com https://tender.2merkato.com/tenders/67ecd8f49fdfab18350af1e5

Bids must be received by latest on 23rd  April 2025 @ 10:00 am-East African time.

Bids received after the stipulated date and time will be invalidated. Proposers can be submitted through UNICEF Ethiopia secured email address: ETH-Supply Tender Box <eth-supplytenderbox@unicef.org>. A bid conference will not for available for this bid.

Last date for accepting inquiries from the bidders is 16th April 2025 at 10:00 am.

UNICEF is part of the United Nations Global Marketplace (UNGM). Accordingly, all proposers are encouraged to become a UNICEF vendor by creating a vendor profile in the UNGM website: www.ungm.org

The tender is open only for local bidders. It is important that you read all the provisions of the Request for Proposal to ensure that you understand and comply with UNICEF’s requirements.

Proposers are required to provide their financial proposal ONLY with the format provided with the bid document.

Note that failure to submit compliant bids may result in invalidation of your proposal.