Ethiopia takes over HoA Initiative chairmanship from Kenya

Addis Ababa, March 8, 2023 (FBC) – Ahmed Shide, Finance Minister of Ethiopia, assumes chairmanship of the Horn of Africa Initiative (HOAI) from Kenya.

The Finance Ministers of the Horn of Africa Countries held the 15th HOAI Ministerial meeting today in Nairobi, Kenya.

The Ministers reviewed the progress made on the operation and implementation aspects of the HoA Initiative over the last year and discussed measures to enhance regional integration and cooperation by focusing on areas of private sector participation and digital links.

Furthermore, they have also exchanged views on the recent situations in the region including the latest climate shocks.

Minister Ahmed joined the meeting virtually and thanked partners for the recent financial support to regional projects in the water, agriculture, and livestock sectors which are important to mitigate the effects of drought in lowland areas by complementing the ongoing development interventions and humanitarian assistance.

At the end of the Ministerial Meeting, Ethiopia has taken over the rotating Chairmanship of the Horn of Africa Initiative at the handover ceremony. Prof. Njuguna Ndung’u, Cabinet Secretary, National Treasury of Kenya handed over the Chairmanship to the representative, Deputy Head of Mission of the Ethiopian Embassy in Kenya, Ambassador Workalemahu Desta.

During the official virtual handover occasion, Minister Ahmed emphasized the importance of continued support and partnership to build a path to deepen economic integration in the Horn.

The HoA Initiative was launched towards the end of 2019 by Finance Ministers in Horn of Africa Countries through the support of the African Development Bank, the World Bank, and the European Union to deepen regional integration and deliver better development outcomes in areas of building resilience, infrastructure, trade, and human capital.

During the event, it was highlighted that the resource mobilization in the year 2022 was the highest compared to the previous periods. It was also indicated Ethiopia has managed to mobilize more than a billion from country and regional sources of the three partners in the year.