Public Management

Taye Atske Selassie Becomes Ethiopia's New President, Succeeding Sahle-Work Zewde

Taye Atske Selassie Becomes Ethiopia's New President, Succeeding Sahle-Work Zewde
Tuesday, 08 October 2024 20:18

As Ethiopia works to recover from ethnic tensions and economic challenges, Taye Atske Selassie’s appointment as the country's new leader presents an opportunity to strengthen political institutions and promote national reconciliation.

Yesterday, Ethiopia's two parliamentary chambers elected Taye Atske Selassie as the country's new president. He succeeds Sahle-Work Zewde, who made history in 2018 as Ethiopia's first female president.

Before this role, Selassie served as Ethiopia's foreign minister and was the country's permanent representative to the United Nations. Though the presidency in Ethiopia is largely symbolic, representing national unity without real executive power, Selassie expressed his commitment to serve with dignity. He aims to continue efforts to promote peace and prosperity, both within Ethiopia and across the region.

During his swearing-in, Selassie emphasized his focus on stability. “Ethiopia will continue its efforts towards ensuring peace and security as well as ascertaining mutual prosperity,” he said. His statement comes as the nation recovers from years of conflict and economic hardship.

Ethiopia recently endured several crises, including the COVID-19 pandemic and a two-year civil war in the Tigray region, which severely impacted its economy and social cohesion. The country has also faced natural disasters such as droughts and floods. In December 2023, Ethiopia became the third African nation in three years—after Zambia and Ghana—to default on its debt, further straining its economy.

Prime Minister Abiy Ahmed praised the outgoing president, Sahle-Work Zewde, for her work and highlighted the importance of continuing reforms aimed at strengthening the country's institutions. He also stressed that these reforms are crucial for ensuring the stability needed to address Ethiopia's economic and social challenges.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
IFC to set up CFA17bn guarantee for Orange Bank digital SME loans Facility covers up to 50% of loans in Côte d’Ivoire, Senegal Scheme targets SMEs,...
Uber ended its operations in Tanzania on January 30, 2026 The exit follows years of tension over fares, commissions, and regulation The move...
The African Development Fund plans its first-ever market borrowing of about $1 billion. Donor contributions fell sharply, with the latest...
About 87.5% of Nigerian fintechs use artificial intelligence to detect fraud, according to the Central Bank of Nigeria. Nigerian financial...
Most Read
01

African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...

African Startup M&A Hits Record 67 Deals in 2025, Led by Fintech
02

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
03

Moniepoint, Opay, Kuda, and others gain national status with tighter oversight A naira 5 billion ...

Nigeria’s central bank upgrades fintech licenses amid rapid digital growth
04

ECOWAS has provided CFA400 million to support refugee assistance in Togo. The funding targets the...

ECOWAS grants CFA400mln to support refugee assistance in northern Togo
05

Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new fo...

Crypto Sovereignty Was CAR’s Goal. A Report Says Crime Risks Took Hold Instead
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.