Tuesday, September 30, 2025
Home Blog Page 283

Artology: Addis Ababa’s newest event series blends art, therapy, and social connection

0

Looking for a unique way to unwind, express your creativity, and boost your mental well-being? Artology, a new event series in Addis Ababa, offers a refreshing blend of art, social interaction, and therapeutic activities, making it the perfect way to relax and rejuvenate.

Artology events provide a relaxed and welcoming space for people of all skill levels to express themselves through painting on canvas, tote bags, and pots. The organizers, inspired by art therapy principles, aim to create a community of connection and creativity where attendees can reflect, create, and rejuvenate.

Over the past 11 months, Artology has consistently delivered these creative, therapeutic experiences through weekly paint and sip events at different restaurants around Addis Ababa. Past events include a “Lakeside Edition” at the Pelican Resort and a “Mindful Edition” at the Gize Psychiatry Center.

Artology is gearing up to launch a series of five annual editions, starting with the “Lovebirds Edition,” followed by the “Galantines Edition,” and the “Young Stars Edition.”

Artology events take place on Fridays from 5:00 PM to 3:00 AM and Saturdays from 3:00 PM to 9:00 PM. They target a diverse audience, including art enthusiasts, groups of friends, corporate teams, couples, and Artology members.

The core objectives of Artology are to:

  • Promote Creative Expression
  • Foster Mental Well-being
  • Facilitate Social Interaction
  • Encourage Self-Reflection and Rejuvenation
  • Celebrate Art in Everyday Life

Artology is not just about creating art; it’s about creating an experience that promotes self-expression, mental well-being, and a sense of community within the vibrant city of Addis Ababa.

“Miliketa Ethiopia, Miliketa Africa”: Lema Woldemariam’s new book offers insights into life, culture, and africa

0

Lema Woldemariam, a veteran professional with extensive experience at the Commercial Bank of Ethiopia and the United Nations Economic Commission for Africa (ECA), has recently published a book titled “Miliketa Ethiopia, Miliketa Africa.” This memoir not only chronicles his life story but also delves into broader themes relevant to Ethiopia and Africa, focusing on the origin of life, the journey of life, and observation.

Throughout his career, Lema traveled extensively across Africa, accumulating valuable insights and experiences that he has woven into the narrative of his book. The publication explores not only the author’s biography but also various aspects of Ethiopian and African cultures, with a special emphasis on the cultural values of the Gurage community.

Lema’s motivation for writing the book stems from a desire to share his accumulated knowledge and experiences with future generations. At the book’s inauguration at the National Theatre, he expressed his passion for reading and his intention to pass on the wisdom he has gained over the years.

“I used my transcendent passion for reading to gather the experiences I had acquired over my lifetime and that I thought would be useful to my country,” Lema said during the event.

The book is believed to contain valuable lessons for both current and future generations, contributing to Ethiopia’s growth and development. In a review, Melaku Woldemariam praised the author’s ability to reflect on life’s processes through charged words, maintaining a connection with nature.

As “Miliketa Ethiopia, Miliketa Africa” gains attention, it is poised to become a significant contribution to Ethiopian literature, offering readers a unique blend of personal narrative, cultural insights, and reflections on life and Africa.

The Battle of Adwa: A Pivotal Moment in African History

0

On March 1, 1896, the Battle of Adwa marked a pivotal moment in African history, as Ethiopian forces led by Emperor Menelik II decisively defeated the Italian army. This victory not only preserved Ethiopia’s independence but also sent a powerful message across the continent, shaping the future of Africa in profound ways.

The Battle of Adwa was a beacon of hope for African nations facing colonialism. It demonstrated that African armies could resist and defeat European powers, inspiring other nations to fight for their freedom. This victory preserved Ethiopia’s sovereignty, making it the only African nation to avoid colonization by European powers during the Scramble for Africa. The preservation of independence was not just a national achievement but a continental symbol of resistance against colonial domination.

Ethiopia’s success at Adwa was a testament to the strength of African leadership and the resilience of its people. Emperor Menelik II’s strategic leadership and the bravery of Ethiopian warriors showcased the capacity of African nations to defend their territories against foreign invasion. This achievement resonated deeply across Africa, inspiring other nations to resist colonial rule and fight for their independence.

Adwa’s impact extended beyond Ethiopia’s borders, fostering a sense of unity and resistance among African nations. It became a symbol of African pride and resilience, galvanizing the Pan-African movement. Leaders like Marcus Garvey and Kwame Nkrumah drew inspiration from Adwa, advocating for African unity and self-determination. The battle served as a powerful reminder that African nations could achieve great things when united and determined.

The Pan-African movement, which emerged in the early 20th century, was deeply influenced by the spirit of Adwa. It emphasized the need for African nations to come together, share experiences, and support each other in their struggles against colonialism. The movement’s ideals of unity, solidarity, and collective action were inspired by the bravery and determination shown by Ethiopia during the Battle of Adwa.

The Battle of Adwa is deeply ingrained in Ethiopian culture and identity, symbolizing bravery and patriotism. It has inspired countless works of art, literature, and music, celebrating the heroism of Ethiopian warriors. This cultural significance extends beyond Ethiopia, as Adwa is celebrated across Africa as a testament to African strength and determination.

In Ethiopia, Adwa is commemorated annually with grand festivities and ceremonies. The event is marked by parades, cultural performances, and speeches that reflect on the battle’s significance and its impact on Ethiopian history. The celebration serves as a reminder of the nation’s rich heritage and its ability to defend its sovereignty against all odds.

Globally, Adwa challenged the notion of European superiority and highlighted the capabilities of African armies. It forced European powers to reassess their strategies in Africa, leading to more cautious approaches in their colonial endeavors. This shift in perception contributed to the eventual decolonization of Africa, as European powers began to recognize the strength and resilience of African nations.

The Battle of Adwa also had diplomatic implications. It led to increased international recognition of Ethiopia as a sovereign state, paving the way for its membership in international organizations like the League of Nations. This recognition was crucial for Ethiopia’s continued independence and its role in global affairs.

Today, the Battle of Adwa is commemorated annually in Ethiopia and celebrated across Africa. It serves as a reminder of the continent’s rich history and its capacity for resistance and resilience. The legacy of Adwa continues to inspire African nations to assert their sovereignty and cultural identity on the global stage.

In recent years, there has been a renewed interest in Adwa’s history and significance. Scholars and historians have revisited the battle, highlighting its importance in African and world history. This renewed focus has led to a greater understanding of Adwa’s impact on African identity and its role in shaping the continent’s future.

As Africa continues to navigate its place in the world, the lessons of Adwa remain relevant. The battle teaches us about the power of unity and determination in the face of adversity. It reminds us that African nations have the strength and resilience to overcome challenges and achieve great things when they work together.

In an era where globalization and international cooperation are increasingly important, the spirit of Adwa encourages African nations to assert their sovereignty while engaging with the world on their own terms. It emphasizes the need for African leaders to prioritize unity, solidarity, and collective action in addressing the continent’s challenges.

The Battle of Adwa was more than a military victory; it was a defining moment in African history that shaped the continent’s future. It inspired resistance against colonialism, fostered Pan-African unity, and preserved cultural identity. As Africa continues to grow and evolve, the legacy of Adwa remains a powerful symbol of African strength and resilience.

In celebrating Adwa, we honor not just a historical event but a spirit of resistance and determination that continues to inspire generations. The battle’s impact on African history and identity serves as a reminder of the continent’s rich heritage and its capacity for greatness. As we look to the future, the lessons of Adwa will continue to guide us, reminding us of the power of unity and the importance of preserving our sovereignty and cultural identity.

NBE rule limits small banks’ access to SEZs, experts see merger push

0

The National Bank of Ethiopia (NBE) has issued a draft directive that excludes small and newly established financial firms from operating branches in Special Economic Zones (SEZs).

Experts suggest this decision is part of a broader strategy to encourage mergers among banks.

Released this week alongside two other directives—one addressing insurance business regulations and another related to minimum reserve requirements for banks—the draft directive stipulates that only banks with a market share of at least 2% of the total assets in the banking sector can open branches in SEZs.

According to Article 4.6.1 of the directive, a bank’s total assets must constitute at least 2% of the sector’s total assets, based on the latest fiscal year-end calculations.

Industry experts estimate that a bank seeking to operate in an SEZ would need a total capital of at least 66 billion birr, based on last year’s figures. As of the end of the 2023/24 financial year, the total assets of Ethiopia’s banking sector stood at approximately 3.3 trillion birr, reflecting a 15.2% increase from the previous year. Loans, advances, and bonds were the primary drivers of this growth, accounting for 66.9% of total assets.

However, experts note that very few banks, apart from state-owned institutions like the Commercial Bank of Ethiopia (CBE) and the Development Bank of Ethiopia (DBE), meet the 2% threshold.

The CBE, Ethiopia’s largest bank, holds 43.5% of the sector’s total assets, with its assets reaching 1.35 trillion birr as of June 30, 2024, according to its annual report and the NBE’s Financial Stability Report.

Critics argue that the new directive discriminates against smaller banks and is part of a broader effort to consolidate the banking sector.

The NBE has been granted authority under the recently approved banking business proclamation to enforce mandatory mergers, aligning with the government’s plan to strengthen the financial sector ahead of its opening to foreign players.

With 32 banks currently operating in Ethiopia, officials have emphasized the need for mergers and acquisitions to create stronger, more competitive institutions.

The NBE’s Financial Stability Report reveals that the combined assets of the five medium-sized banks in the sector account for 28.9% of the total assets, while the combined assets of the 25 small banks, excluding the DBE, account for 23.3% of the entire banking sector—an annual increase of 0.8%.

Meanwhile, the central bank has also released a draft directive revising reserve requirements, which have been amended eight times over the past three decades.

Additionally, a new corporate governance directive for the insurance industry has been proposed, requiring that one-third of board members be independent. A similar directive was introduced for the banking sector in June 2024.

“These regulatory changes reflect the NBE’s efforts to streamline and strengthen Ethiopia’s financial sector, though smaller banks may face significant challenges in meeting the new requirements,” experts say.