Monday, October 6, 2025
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ESLSE targets to procure 300 trucks

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The Ethiopian Shipping and Logistics Services Enterprises (ESLSE) have targeted to procure more trucks for its cross orders operation services.
The state giant that recently imported 150general cargo trucks from Chinese prominent truck manufacturer Jinan Sinotruck Co. at a total cost of over USD 11 million said that it has a planned to add 300 more trucks this time around.
Roba Megersa, CEO of ESLSE, told Capital that the recently imported trucks that did final assembly works in Djibouti have commenced operation by transporting fertilizer from the port.
“The process has been very swift and their certification and registration concluded when they were in Djibouti. The plates were also issued where they were which allowed them to seamless started their operation by transporting fertilizer which enabled us to generate 4 million birr in profit rather than cost in their first trip,” he said.
“We are now expected to have more fleet from the new plan,” he said about the upcoming procurement.
The government has decided on the procuring of 2,400 trucks on the aim to accelerate the logistics service, which has different constrains including trucks, fleet and shortage. Of the stated number of trucks, 400 tracks will be oil tankers.
“If we get approval, our proposal is to get 300 of the total 2,000 cargo trucks,” Roba said.
About four and half years ago,215 trucks were purchased from the French automotive company, Renault Trucks that made the total number of ESLSE trucks to about 440, while the coming of the Sinotruk trucks will enable the enterprise to remove old and economically inefficient trucks from service.
Roba said that his enterprise does not have interest to involve itself in oil transportation thus it does not propose for the procurement of such kind of trucks.
Fleet business
ESLSE have two tanker vessels with the capacity of 42,150 DWT that are mainly leased for other markets. Meanwhile, the COVID 19 pandemic has significantly affected the tanker business, Roba expressing how their cash flow is positive. “The global economy has shown slowdown because of the pandemic which reduced the tanker business, which was very profitable during normal times. This resulted in a drop by 9.8 percent,” he explained.
He further reminded that the two vessels that were procured with other 9 general cargo vessels about nine years ago have fully settled their debt.
The other general cargo vessels, Handysize, with the capacity of 28, 000 DWT, which are described as lower than the medium level vessels have in service contributed to a profit of 60 million birr for the first time. “At the current level they are in good operation although about 20 percent of the operation down because of the pandemic,” he added.
“All the nine vessels procured about a decade ago have similar carrying capacity which should be improved. It is not feasible to assign similar capacity of vessels for the distance like to Saudi or China,” he argued stating that it was better to have mixed capacity carriers.
“To tackle the problem in order to become profitable, we assign them on cross trade approach that they may fleet on short distance and up to China when it was their own cargo,” he explained.
Currently ESLSE is looking to add two more medium level vessels.
“Ultramax, that have a capacity of 65,000 DWT is suitable for our existing operation, since mostly we are carrying over 50,000 tons of cargo,” Roba said expressing about the new plan.
Currently, ESLSE manages the shipment of coal and fertilizer up to 70,000 tons on chartered vessels due to that the ultramax vessels are more economically viable to accommodate its consignment.
“Even if we observe the market, the interest of suck kind of vessels has increased making them profitable, if we lease them,” he explained.
Ultramax and supramax, which is the vessels with 50,000 DWT, are not easily available in the market due to that their demand is very high.
To commence the building of the two ultramax vessels the public enterprise has formed a project office, while the process is not going as per the expectation due to shortage of hard currency. At this time ESLSE has not preferred to use the Chinese EXIM Bank credit as the past. Rather it prefer to use its own finance under letter of credit or suppliers’ credit scheme since its bookkeeping is sound, but the foreign currency crunch in the country delayed the process.
“If we get the finance it will be done within two years,” the CEO said. The two vessels may cost USD 70 million.
The flag carrier, ESLSE, is one of the oldest cross continent vessel operators in the world since it managed the first vessels in March 1964 and now the only in Africa. Currently, it is mainly manages 11 dry cargo ships.
Suez Canal Blockage
The delay of vessels due to Suez Canal blockage would not have effect on ports discharge activity that is in good handling since last year.
Roba said that congestion would not occur at the port because the current three vessels that are on anchorage at Doraleh Multipurpose Port are finalizing the discharging of fertilizer.
The Assosa vessel that comes from Turkey, Memrut Port with steel cargo of steel has passed the canal on March 31 after a five day strand because of the blockage, “It would not have a port issue since Assosa’s destination is Port of Tadjourah.” The vessel is expected to arrive Sunday evening at the port in Djibouti.
Port of Tadjourah, which recently commenced operation at the Coast of Tadjourah in the other water side of Djibouti town, is exclusively assigned for Ethiopian rebar and coal cargos.
The CEO said that two other vessels are coming with fertilizer from Morocco via Suez and one more is loading at the same cargo from the North African country. “We are lucky if there was wheat cargo congestion might be occurred,” he said.

FORESEEABLE FALSE FLAGS

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‘False flags’ are staged incidents. They are carried out to justify unjust reciprocal actions against (a priori) delineated entities. Sanctions, wars, etc., usually follow these staged incidents. False flags are instigated by TPTB (= that power that be) and target implicit/explicit ‘adversaries’. The whole scheme is made to be almost always believable, hence tends to surprise. However, recent false flag incidents (in our increasingly conflicted world MENA, Ukraine, etc.,) seem to lack these basic features. To start with, almost everywhere where TPTB has an interest, ludicrous concoction of false flags (repetitive gas attacks, etc.) are propping up rather too frequently and crudely to be convincing. In addition, the element of surprise is now (more or less) replaced by consistent predictability!
The recent Syrian ‘gas attack’ is case in point. Weeks, even months earlier, there was a concerted cry by those who actually live in the very areas of the alleged attack. Movement of goods (chlorine gas, etc.) and other suspicious activities were taking place, compliment of foreign supporters of extremists. In Syria major incidents take place, only if one of the main war protagonists are behind them. In fact, some of the groups engaged in the Syrian war theater are perfectly capable of mowing down innocents to galvanize support from their big time sponsors that include the major powers of the world system. Even though there was an advance warning about the effort to launch a false flag, nothing was done to expose the malicious project. No major media was willing to uncover the brewing plan. Since the global dominant media is part and parcel of the ‘deep state’, the refusal was not wholly unexpected!
The UN has become pathetically impotent, when it comes to enforcing its own rules. Instead of carefully examining the causes of the various incidents, false flags or otherwise, the UNSC (security council) seem to recurrently and rather blindly, side with empire’s position. Blatant aggressions in forms of bombardments, etc. are being condoned by the UNSC. This ‘might is right’ approach to problem solving is what led to the demise of the UN’s predecessor, the ‘League of Nations’! This is a very disturbing trend on the part of the UNSC. Once respect for international law is undermined, as is currently happening within the institutions of global governance, UN system, etc., chaos/conflicts are bound to dominate world affairs. The large majority of countries within the UN do not like what is happening, at the same time they do not have the wherewithal to challenge the increasingly bellicose positions of the powerful, those who are permanent members of the UNSC. Empire’s intransigence must be checked fast, if we are to secure peaceful future to all humanity. The ease and absolute callousness displayed (by empire) by the bombings of countries, is very, very, scary to decent humans. Countries should consider setting up alternative forums/organizations/institutions that are willing to uphold international laws. Unless sanity prevails within the UN and other global institutions, such initiatives might come into being sooner than later!
Be that as it may, the critical segment of the human collective is becoming increasingly nervous about the way the powerful cavalierly engage in staged incidents and of course the resultant bombings. The sheeple (human mass), whose critical faculties have been significantly numbed by the continuous brainwashing of the deep state seem to be oblivious to concrete facts on the ground. Unfortunately, the sheeple only reacts as programed, just like Pavlov’s dog! It is a historical fact that as empires decline they employ all sorts of gimmicks to give the impression that all is honky dory. It is no different in the case of the current hegemon. Instead of constructively engaging in the affairs of the human collectives, the reigning hegemon has decided to become aggressively belligerent towards all countries that refuse to toe its line. Certainly countries like Russia and china might not oblige. If these countries are bellicosely engaged, they might resort to utilizing frightening weapons of mass destruction to defend their turf, so to speak. There will hardly be winners in such major confrontations. Nonetheless, our stupid and irresponsible psychopaths (the politicos) might not care about the danger of igniting the nuclear fire!
Critical analysts and observers understand the whole ambition to dismember Syria is, amongst other things, to weaken countries that are becoming regional powers in their own rights. Iran is an established regional power, with an increasing influence, not only in Syria, but also in Iraq, Lebanon, Yemen, Bahrain, and even in other countries MENA (Middle East & North Africa). Its current geo-strategic orientation makes it a close ally of Russia and China. Empire’s project of ‘taking out Iran’, to use General Clark’s verbose (at one time commander of NATO forces), might not be all that easy! The problem is, Iran is neither Syria, nor Libya, and can cause havoc in the whole of the Middle East, if provoked. Even Israel might not be spared. It should be recalled that Iran’s overall strategy is in tune with the general objective of the Shanghai Cooperation Organization, in which it holds an observer status. China’s ‘One Road One Belt’ initiative, which again includes Iran, might well serve as a significant weight against the reckless adventures of empire.
Here are some words of wisdom from those who saw through the thick of the fog: ‘I believe that if we had and would keep our dirty, bloody, dollar soaked fingers out of the business of these [Third World] nations so full of depressed, exploited people, they will arrive at a solution of their own. And if unfortunately their revolution must be of the violent type because the “haves” refuse to share with the “have-nots” by any peaceful method, at least what they get will be their own, and not the American style, which they don’t want and above all don’t want crammed down their throats by Americans.’ General David Sharp – Former United States Marine Commandant. ‘Our leaders are cruel because only those willing to be inordinately cruel and remorseless can hold positions of leadership in the foreign policy establishment… People capable of expressing a full human measure of compassion and empathy toward faraway powerless strangers…do not become president of the United States, or vice president, or secretary of state, or national security adviser or secretary of the treasury. Nor do they want to.’ William Blum – Author of Rogue State. ‘Few of us can easily surrender our belief that society must somehow make sense. The thought that The State has lost its mind and is punishing so many innocent people is intolerable. And so the evidence has to be internally denied. Arthur Miller – Playwright.
Finally; “War is a grave affair of state; it is a place of life or death; a road to survival or extinction; a matter to be pondered carefully.” Sun-Tzu, (‘The Art of War’). Good Day!

GIC’s takaful insurance bears fruit

The impetus of takaful business of Global Insurance Company (GIC), which is a pioneer and so far the only one in the business in Ethiopia, is brewing fruits.
The company officially declared the business in September last year following the National Bank of Ethiopia’s (NBE) directive in June 2020 after the amendment of the insurance business proclamation.
Elham Abubakar, Operation Manager of Takaful at Global Insurance, said that the acceptance of the business is very high.
She said that the company is working with interest free banking partners and other business communities which demand the product.
“The market is mainly currently concentrated in Addis Ababa like any other business, but there is also high interest in the Muslim concentrated community towns in the country,” Elham explained.
“It is like we are almost working as banks that have IFB services,” the Takaful Operation Manager told Capital, adding, “because there was no presence of a takaful company in the country in the past, banks had complained that the money which was collected under IFB had been dormant.”
Asseged Gebremedhin, Deputy CEO of Global Insurance Company, said that Ethiopia is the largest Muslim populated country in the region thus should have alternative businesses and products in the insurance industry with the intended purpose of growing demand in the economy and the religion.
“At the initial stage, since NBE awarded the license, we have been focused on preparation and organization as well as creation of awareness in the community besides empowering staff,” he said, remarking that, “now we have been able to collect 3 million birr in contribution (premium) within a couple of months.”
Asseged said that the numbers of participants in two months’ time have reached more than 150 which shows how the sector is bursting in huge demand. “And its prospectus is very high,” he further stated.
Alhuda CIBE had supported the formation of the general takaful at the local insurer. “Now we are under process to introduce family takaful, banca takaful and micro takaful,”the Deputy CEO told Capital by reminding that it is crucial for the coming of full-fledged IFBs.
On its launching in September, the company that was formed in 1997 said that the Global Takaful plan was designed to provide the once marginalized business community and individuals with financial flexibility based on their affordability and needs.
Global Insurance Company is working with Africa Re’s Retakaful and others for its Retakaful operators as trusted partners.
The Takaful Company that was developed in Sudan in 1979 and emerged in the Asia pacific region expanding to the Middle East, Gulf and other countries has 19 percent annual growth rate and transacts over USD 40 billion.

Ahadu, Amhara banks in hunt for first CEOs

Ahadu and Amhara banks are gearing to hire their first presidents.
Amhara and Ahadu banks which are awaiting license and a green light from the national bank to become operational after holding their general assembly have started talks to hire their first presidents from two older private banks.
Ahadu bank has started its activity to hire a president.
On the other hand, Amhara bank is trying to hire Henok Kebede, vice president and chief banking operation officer of Dashen bank. Additionally, Henok has been working at the commercial bank of Ethiopia as an operation officer and district manager. As his background shows he has a BA degree in management and public administration from Addis Ababa University, and an MBA in international business from university of Greenwich.
Since the number of shareholders was massive and coupled with the ongoing pandemic, both Amhara and Ahadu banks had faced challenges in holding their first the founders’ conference in one place.
Despite the challenge, on January 2, 2021 Ahadu bank held its first founding meeting at the Ghion Hotel where 3000 shareholders were found at the summit. Starting from February, 2020 the organizing committee of Ahadu had received the permit from the National Bank of Ethiopia to start selling its shares. Ahadu has since then completed its sell with 760 million share sale out of which 540 million birr is paid up capital. It has 10,500 shareholders, of which 192 of them are certified Diasporas. Ahadu Bank S.C. is set to enter the market as a conventional commercial bank which is established by Ethiopians and foreign nationals of Ethiopian decent. The new entrant joins the sector by complying with the country’s business law and National Bank of Ethiopia procedures, and comprising of a team of reputable professionals, veteran bankers and, prominent businessmen who have been gathered to make a foot print on the banking sector with a unique business model.
Amhara Bank was the latest to hold its general assembly among the new financial institutions awaiting a license. Having a paid-up capital of almost six billion birr makes it the highest in the banking history of the country. The Bank has more than 185,000 shareholders.
Currently, there are 17 private banks and 2 state owned banks operating in the ever growing banking sector of the country. Zemzem and Hijira are the last two Islamic banks to join the banking sector after getting the license from the national bank.
According to the NBE, currently, 20 banks are under formation after getting the green light from the bank to sell shares to the public.
Amhara, Goh, Ahadu and Tsehay are the banks that are waiting for a license and a green light from the NBE to start operation.
Likewise, Goh Bank’s general assembly was held in October 2020 after the mortgage bank collected 530 million Birr in paid-up capital, which is 30 million birr higher than NBE’s minimum requirement.