Dear esteemed investors,
The coronavirus (COVID-19) pandemic has caused an unprecedented global business disruption and will undoubtedly have a significant impact on the global economy on many fronts, some predictable and some unknown/unpredictable.
Despite the clear danger that the global economy is in, there are also reasons to be hopeful that this worst-case scenario has been avoided/averted. Governments have learned from previous crises that the effects of a demand-driven recession can be countered with government spending. Consequently, many governments are increasing their provision of monetary welfare to citizens and ensuring businesses have access to the funds needed to keep their staff employed throughout the pandemic. Further, the specific nature of this crisis is an opportunity for some sectors like e-commerce, food retail, and the healthcare industry - providing some economic growth to offset the damage. Finally, there is the fact that the crisis may have a clear end date when all restrictions on movement can be lifted (for example, when a vaccine is developed). Taken these together, the global economy could experience a sharp rebound once the pandemic is over.
Over the past few months, we have been able to serve you in a limited capacity as we have also been affected and had to take precautionary measures to protect our staff and our investors. As the global economy is now more stable and on the path to a slow recovery, we at EIC will continue to strengthen our engagement with you to provide clear information on the status of the pandemic in the country and on the actions being taken by the Government of Ethiopia.
COVID-19 has been managed well in the country, and as a result, the State of Emergency has been lifted and all government offices have resumed normal operation, including our office at EIC. We have resumed providing full services at the Commission and are operating business as usual.
Our interactive COVID-19 webpage will continue to be active in order to provide information on the status of COVID-19 in Ethiopia, information on support provided by the government, answers to the most frequently asked questions, and any other information that is beneficial for your operations.
I wish to assure you that you can count on the EIC as your steadfast partner. My full team stands ready every day to work in partnership with you to realize our common vision.
Ms. Lelise Neme