Restructuring is an action taken by a company to significantly modify the financial and operational aspects of the company, usually when the business is facing financial pressures. Restructuring is a type of corporate action taken that involves significantly modifying the debt, operations, or structure of a company as a way of limiting financial harm and improving the business.

20  young African professionals from 17 countries of the 2024 cohort of the “ECA Fellowships for Young African Professionals” have completed their programme.

The program, which is supervised by the Strategic Planning, Oversight, and Results Division (SPORD), is designed to improve the skills and capacity of the fellows to address development issues affecting Africa, including Agenda 2030 and Agenda 2063.

The fellows are under 35 years old, graduates with a Master’s Degree, or PhD candidates. They attend six to 12 months of training in various thematic development areas relevant to the continent’s development.

The fellowship offers mentorship and a unique hands-on experience and equips the fellows to conduct research aligned with the Sustainable Development Goals and Agenda 2063. They then present their findings for expert review at the ECA’s  Programme Policy and Dialogue Meetings.

Claver Gatete, Executive Secretary of the ECA, presented certificates to each fellow at a brief ceremony after the Programme and Policy Dialogue session on Wednesday  at UNCC.

Gatete lauded the fellows for their commitment to Africa’s development, considering their extensive research on various development issues in Africa.

He indicated that the ECA would continue to cooperate with them and promised that some of the research work would be further reviewed and developed into policy briefs.

In a gesture of support and compassion, Safaricom Ethiopia has donated 240 quintals of wheat worth 2 million birr to the Gofa Zonal Administration in Sawla town. The donation comes in the wake of a tragic landslide that struck the Kench Shacha Gozedi Kebele of Gofa Zone in the Southern Ethiopia Region.

The landslide, which occurred earlier this month, claimed numerous lives and left many families displaced and in dire need of humanitarian aid. In response to the crisis, Safaricom Ethiopia, the country’s leading telecommunications company, stepped up to provide much-needed assistance to the affected community.

“We are deeply saddened by the devastating loss of life and the immense suffering caused by this tragic landslide,” said Sisay Zerihun, Safaricom Ethiopia’s Acting Chief of External Affairs. “As a responsible corporate citizen, we feel compelled to extend our condolences and show our solidarity with the people of Gofa Zone during this difficult time.”

The Alliance of African Multilateral Financial Institutions (AAMFI) held the third meeting of its Governing Council on the margins of the African Union Mid-Year Coordination Meeting, held in Accra, Ghana, during which it welcomed the endorsement of the Alliance by the African Union (AU) Ministers of Finance and Central Bank Governors at their 7th Ordinary Session of the African Union Specialized Technical Committee (STC) on Finance, Monetary Affairs, Economic Planning, and Integration, in Tunis, Tunisia.

The STC Ministerial declaration and decisions reflected the pivotal role of African Multilateral Financial Institutions (AMFIs) in the continent’s financial architecture. AAMFI received strong support from the meeting and was recognized by the Specialized Technical Committee as crucial for strengthening the continental financial framework and advancing the African Union’s Agenda 2063. The Ministers and Central Bank Governors reaffirmed the vital role of African Multilateral Financial Institutions in continental development and committed to enhancing the capital and credit ratings of AMFIs to mobilize essential funding for Africa’s growth.