Diaspora Fund Commits $0.5m to Medical Relief

Jan 3 , 2021


The Ethiopian Diaspora Trust Fund (EDTF) has committed half a million dollars to a medical relief fund that is intended to go toward alleviating the shortage of medical supplies in Ethiopia. The EDTF also launched a fundraising campaign through which it expects to raise an additional half a million dollars from donors intended for a similar purpose. The Fund has so far procured and delivered over a million dollars worth of medical supplies to fight the Novel Coronavirus (COVID-19) pandemic in Ethiopia. Additionally, it approved 1.3 million dollars to finance five development projects around the country. Founded in August 2018, the EDTF has 48 chapters around the globe. It aims to finance projects in areas as health, education, water and sanitation facilities, habilitation and rehabilitation of persons with a disability, agricultural development, technology, small-scale entrepreneurship and other income and employment generating projects.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email