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



World Bank Donates $64m to Somali Region Drought Response


World Bank Donates $64m to Somali Region Drought Response

The World Bank has approved a fund of 64.3 million dollars to bolster humanitarian response efforts for the victims of drought in the Somali Regional State. Its officials announced the decision last week while on a field visit to the region's World Bank supported projects. In attendance were the Bank's country director Ousmane Dione, officials from the Ministry of Finance, and Mustafe Omer, president of the regional state. The Somali and Oromia regional states are in the grip of a devastating drought with 10 and eight zones in each region, respectively, seeing residents displaced and recording the deaths of millions of cattle. By the beginning of this month, over 1.4 million heads of cattle had died in the Somali region alone. Humanitarian organisations estimate that around seven million livelihoods in the regions are affected by what the UN called the worst drought the country has experienced in four decades. Millions are suffering in neighbouring Somalia and Kenya as well.

[ssba-buttons]

Radar

MOENCO Introduces BYD Shark 6 as Hybrid Demand Gains Ground

Motor & Engineering Company of Ethiopia (MOENCO), the sole authorised dealer for BYD in Ethiopia, officially launched the BYD Shark 6, a plug-in hybrid electric vehicle (PHEV) pickup truck, at the Science Museum in Addis Abeba on May 22, 2026. The high-profile launch drew senior government officials, industry leaders, and representatives from BYD. Unlike the fully electric models previously introduced by MOENCO, the Shark 6 combines electric and fuel-powered performance to navigate both c...


Radar

Ethiopia, Djibouti Explore New Petroleum, Gas Pipeline Network

Djibouti President Ismail Omar Guelleh held talks with Brook Taye, head of Ethiopian Investment Holdings (EIH), over planned cross-border energy infrastructure projects linking the two countries. During a meeting held in Djibouti on Wednesday, Brook said Ethiopia and the Dangote Group are preparing to jointly implement a two-phase energy corridor project with Djibouti. The first phase focuses on constructing a pipeline that would transport refined petroleum products from the Port of Djibou...


Radar

Addis Abeba Relaxes Procurement Restrictions to Prevent Health Crisis

The Addis Abeba Finance Bureau has partially lifted its city-wide procurement freeze, exempting life-saving medical supplies from a fourth-quarter spending ban. The bureau had earlier imposed a sweeping restriction on municipal expenditure to enforce fiscal discipline and curb end-of-year budget pressures across public institutions. However, the blanket freeze raised concerns within the health sector, with hospitals warning of shortages in essential supplies. Officials acknowledged that re...