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| LETTERS TO THE EDITOR |
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Price of
Journalism High Enough Without Pricey Lawsuits |
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Dear Editors,
I read both the
news story headlined, "Fortune Wins Landmark Case
against Ayat" and your editorial headlined,
"Ethiopia's Judiciary on the Right Side of History"
[Volume 10, Number 476, June 14, 2009].
Fortune's
victory ought to symbolize a devastating blow to the
ruthless oppressors of free press. I would agree
that the Court's ruling leaves behind an
unforgettable lesson and shameful scar for the
non-state actors who aspired to frustrate and
paralyse the private media.
Free press is one
of the crucial components in promoting a vibrant,
transparent, and accountable government. Moreover, a
free and unfettered press is indispensable for a
democratic society. It is a great pleasure to see
such an ideal receive protection from the judiciary.
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Fortune
Case, Civil Rights not Identical |
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Dear Editors,
The news
of Fortune winning a decisive civil suit was the talk
of the week. As a fan and regular reader, I agreed with the
view of many on the issue the day I read the news in the
Amharic weekly, Addis Neger. |
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Action,
not Rhetoric Needed to Solve Power Crisis |
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Dear Editors,
I stirred
from my slumber to scribble this short letter to you, in
darkness by candle light, after reading the interview you
had with Mehiret Debebe, chief executive officer (CEO) of
the Ethiopian Electric Power Corporation (EEPCo), with a
headline, "Shedding Light on Power Crisis" [Fortune Volume
10 Number 473, May 24, 2009]. |
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Focus on
Relevant Problems |
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Dear Editors,
I find
Lulit Amdemariam's commentary headlined, "Radio
insensitivity" [Volume 10, Number 476, June 14, 2009] funny.
Of all the problems the country faces; prostitution,
poverty, the smuggling of women into Arab countries; lyrics
on the FM radio are what concern her. She even claims there
is more media available than before, which is in line with
government propaganda.
If musical lyrics played by radio stations are her primary
concern, she must live in a bubble. In addition, there is
nothing more delusional than praising the availability of
the media, including Fortune.
Fortune, with a circulation of 7,500 copies a week, is considered media? The
eight FM stations she mentions in her commentary are
considered broadcasting? These stations reach only Addis
Abeba and play content that is irrelevant to the daily lives
of Ethiopians.
I suggest you make a decision. Practice journalism or join
the government in the fantasy world of irrelevant private
media.
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Tess
Debalk |
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Is
Fortune's Case Really Historic? |
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Dear
Editors,
Your
news story headlined, "Fortune Wins Landmark Case against
Ayat" [Volume 10, No. 476, June 14, 2009] gives extensive
coverage to the court battle your publisher has fought
against Ayat Share Company. |
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Pankhurst
Family Distances Itself from Memorial Institute |
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Dear Editors,
My
attention has been drawn to an advertisement by the Sylvia
Pankhurst Education and Training Institute entitled Sylvia
Pankhurst Memorial Institute, on page 11 of your issue of
June 7, 2009 [Volume 10 Number 475].
Though
I have given my approval to naming a school after my mother,
I have not been asked, and have not agreed to the use of my
mother's name for the said Sylvia Pankhurst Education and
Training Institute. Neither I, nor members of my family,
hold any position or have any affiliation with the Institute
share company.
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Thank
you
Richard
Pankhurst (Professor) |
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A Case for Telecom Privatization |
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Dear Editors,
I read
the news headlined, “Amharic Office Word Application
Software Almost Complete” [Volume 10, Number 473, May 24,
2009]. It was great to know that the age old language of
Ethiopia is entering the information age. My appreciation to
the three organizations: Microsoft Inc., the Ethiopian
Information Communications Technology Development Agency (EICTDA)
and the Addis Abeba University (AAU).
However, all this effort is of no use as long as a single
monopoly operator owns the generation and transmission of
information and networks without the involvement of the
private sector. As a result of such a policy, Ethiopia, with
telecommunications services for over a century, is now known
as a prime example of least developed countries (LDCs) in
the information communications technology sector.
The
private sector is excluded from owning a network, and small
and medium enterprises, which could provide local language
based content services, are absent from the scene. Perhaps
Microsoft Inc. and the other influential
organizations should clearly take a stand against the
disabling policy on telecom and ICT monopoly in Ethiopia.
Only
then can we talk and expect innovative and sustainable
development through ICT.
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Asteway Abebe
Nairobia |
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Is AU's
Priority Cash or Development? |
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Dear Editors,
When I
was covering the 4th African Health Ministers Conference for
my government earlier this month, I was delighted to meet
African officials in large numbers for the first time. I
felt blessed for being assigned to Addis Abeba, as my first
African posting. In naivety, I used to think Africa was as
homogenous as are most European countries. I was fortunate
to learn that the diversity is immense, and incredible.
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Ethiopian
Journalists Must Support Each Other |
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Dear Editor
I read
the commentary by Lulit Amdemariam headlined, “Ethiopian
Journalism” [Volume10, Number 473, May 24, 2009]. It was a
timely and fascinating piece.
Most
media houses usually ignore such indispensable issues.
Journalists in our country are seen complaining about their
profession only when they are imprisoned, charges are
pressed or when a new media law is imposed on them.
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Textile Labour Union Needs Reality Check |
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Dear Editor
I was
amazed to read a story headlined, "Local Textile Labour Case
May Go International" [Volume 10, Number 470, May 3, 2009].
This story says a local employer and union's case may go
international because the case was not getting resolved here
in Ethiopia.
I
cannot believe the union chose this particular time to take
it that far. Its leaders are thinking about getting in touch
with the employer's clients through the International
Conference of Free Trade Unions (ICFTU) in order to urge
them not to buy the product from the local factory.
What
are they thinking? Where have they come from? Do they live
in the same world we live in? Do they follow the news on
what is going on around the world, that countries are doing
all they could to make it through this turbulent times? Have
they heard stories of employees losing their jobs, in
millions, and companies getting bankrupt? Do they know that
employers and employees are working together to avoid
bankruptcy of their companies so employees have job security
(even on a concession basis) during these trying times?
Besides, when they say they will contact the exporter's
clients and ask them not to buy the product, have they not
heard about the foreign exchange crunch this country is
facing?
Maybe
they were not aware that the products exported by individual
companies do bring back the hard currency we all (as a
country) depend on. I suggest they should get a reality
check; they should also be thankful that their members do
have jobs during these tough times while millions are
desperately looking for one.
Their
timing is so bad that instead of taking their case to
international level, they should rather focus on increasing
productivity. Our work attitude should change too. Working
together with management, we should find a way we could be
more a productive workforce.
Our
industrial production output is too low, even when compared
to other Third World countries.
We should keep in mind that our industries, all imported
machineries purchased with foreign exchange, are established
after consuming huge investment capital. If the exported
products were not competitive enough, those industries could
get bankrupt and close their doors with loss of jobs as
avoidable consequences. It is in all our interest to see the
success of these companies.
We
should also be careful not to send the wrong signal to
prospective investors, both domestic and foreign. |
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Ayenew Awole |
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Strengthening Credit Information Exchange
among Banks |
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Dear Editor
Banks
in most circumstances require sufficient collateral to
ensure repayment in case of failure on part of the borrowers
to repay a loan. This is despite the views of some who
regard collateral as a minor matter; they take the view that
having a good borrower with a good business is a far more
important basis for lending than collateral.
For
banks in a country like Ethiopia, the importance of
collateral is beyond doubt as it ensures the repayment of
the loan in case of default by the client. If an information
asymmetry problem exists, where banks do not have
information about their borrowers as much as the borrowers
know about the banks, it is natural that banks will continue
to take the collateral issue though the magnitude may differ
from one bank to another.
One of
the main problems with collateral is establishing clear
title. Banks might go to seize collateral only to find that
the borrower had already pledged it to other banks, or in
our case, as your newspaper reported last week headlined
"Amendment Proposes Leeway in Mortgages Collateral" [Volume
10, Number 471, May 10, 2009], without fulfilling the
article on the 1960 Civil Code that the mortgage collateral
should be signed before courts or notary.
The
government's move to amend the article related to mortgage
collateral is a great relief to the banks, which otherwise
may fall in serious jeopardy and which will ultimately have
consequences on the financial sector. However, there are
other issues beyond mortgage collateral: The issue of
strengthening credit information exchange among banks in
Ethiopia, as this ultimately narrows the huge information
gap banks have on their borrowers or that narrows the
information asymmetry problem in the country.
Information is basic to banks for making decisions they
would not come to regret. In fact, it is one of the
competitive tools where a bank that manages to collect
adequate and timely information about its clients can make
better credit decisions - hence reducing the risk of default
- than others that fail to do the same or that focuses very
much on collateral. Proper evaluation of credit requests,
hence, requires pre and post information about the borrower
in addition to other requirements, including the pledging of
collateral, assessment of the applicant's business and
financial reports.
Hence,
credit information exchange among banks prior to the
provision of the loan is a task that the banks should give
utmost attention.
Though
collateral and mortgage of collateral continue to be taken
seriously by banks in Ethiopia and the recent move by the
government to amend the article in the 1960 Civil Code is
appreciated, the focus should go beyond the issue of
collateral to strengthening the information base banks have
on their clients.
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Abraham Tesfaye
Commercial Bank of Ethiopia (CBE) |
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