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Ethiopian Airlines Group CEO, Tewolde GebreMariam, forced into retirement after decade-long career

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The Group Chief Executive Officer of Africa’s biggest airline, Ethiopian Airlines, Mr. Tewolde GebreMariam has retired to focus on his personal health issues which have kept him from work for six months.

The announcement of his retirement was made through a statement made available to the media on Wednesday. The Airline said, “he is unable to continue leading the airline as a Group CEO, a duty that demands closer presence and full attention round the clock”.

According to the statement, “Mr. Tewolde GebreMariam requested the Board of Management of Ethiopian Airlines Group for early retirement in order for him to focus his full attention on his medical treatment. The Board, in its ordinary meeting held on Wednesday, March 23, 2022, has accepted Mr. Tewolde’s request for early retirement.”

“Mr. Tewolde led the Airline for over a decade with remarkable success reflected in its exceptional performance in all parameters including but not limited to exponential growth from one Billion USD annual turn-over to 4.5 Billion, from 33 airplanes to 130 airplanes, and from 3 million passengers to 12 million passengers (pre-COVID).” The statement reads further.

Ethiopian Airlines, formerly Ethiopian Air Lines (EAL), is Ethiopia’s flag carrier and is wholly owned by the country’s government. Scholars of Public Administration and aviation experts have referenced the remarkable successes of Ethiopian Airlines as standard for the management of the public enterprise in the continent.

The Airline says it would announce the new Group CEO and successor to Ato Tewolde GebreMariam shortly, meanwhile, Mr. Girma Wake, the former CEO of Ethiopian Airlines, has been appointed recently as a new Chairman of the Board of Management of Ethiopian Airlines Group by the Ethiopian Public Enterprises Holding & Administration Agency.

 

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World Bank predicts Mozambique economy growing at 5.7% on average

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The World Bank has predicted that the economic growth in Mozambique is expected to accelerate in the medium term averaging 5.7% between 2022 and 2024, as a result of demand recovery and economy benefits from the start of liquefied natural gas production this year.

In a report released Thursday, the World Bank said the start of LNG production at the offshore Coral Project and the expected resumption of other LNG projects would help spur the southeast African nation’s growth in the intervening year.

The World Bank said a three-year extended credit facility arrangement agreed by Mozambique with the International Monetary Fund (IMF) and budget support from other partners would further help to strengthen its economic recovery.

The IMF’s executive board had, in May, approved a $456 million program for the country, the first since the global lender suspended support to Mozambique six years ago.

However, the World Bank warned that risks remained for Mozambique’s growth, especially from rising import prices due to the conflict in Ukraine, a possible surge in COVID infection waves, and insurgency in the north.

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Nigeria, Algeria, Niger to revive Saharan gas pipeline talks

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The governments of Nigeria, Algeria and Niger Republic have held talks to revive a gas pipeline project across the Sahara which had been put on hold for over 40 years, with the potential opportunity for Europe to diversify its gas sources as the world faces a short fall as a result of the Russian-Ukraine war.

The three countries, represented by their various Petroleum Ministers, met in Abuja, Nigeria’s capital on Wednesday and resolved to set up a task force to revive the project and designated an entity to update the feasibility study.

A statement by Niger’s Oil Ministry after the two-day meeting stated that the Trans-Saharan gas pipeline project estimated at $13 billion, could send up to 30 billion cubic metres a year of supplies to Europe.

The statement added that the energy ministers of the three countries will meet again in Algiers at the end of July to “validate the proposals of the newly installed task force.”

“The pipeline should allow Europe to diversify its sources of natural gas supply but also allow several African states to access this high value energy source,” the statement said.

“With a length of 4,128 kilometres (2,565 miles), the pipeline would start in Warri, Nigeria, and end in Hassi R’Mel, Algeria, where it would connect to existing pipelines that run to Europe,” it said.

The gas pipeline idea was first proposed more than 40 years ago with an agreement signed between the three countries in 2009, but progress stalled stalled following a lack of follow through by the countries.

Earlier this month, Nigeria also took steps to revive another gas pipeline project that would pass through West Africa, Morocco to Europe.

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