FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




China Proffers $2m for Food Security

Feb 13 , 2021


[ssba-buttons]

China has contributed two million dollars to the World Food Programme (WFP) to assist 268,000 internally displaced people in Somali Regional State. The funds will go toward the purchase of over 4,000tn of maize. This latest donation comes as the WFP faces a funding shortfall of 325 million dollars to maintain operations from March to August 2021. China will continue to maintain a good working relationship with international organisations like the WFP and the Ethiopian government to contribute to the long-term development of the country, remarked Chinese Ambassador Zhao Zhiyuan during the handover ceremony last week. China has provided 16 million dollars in food assistance to Ethiopia since 2015, enabling the purchase of almost 13,000tn of food. The WFP, which provides food support in over 80 countries, supports 1.1 million internally displaced people across Ethiopia.


Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...