Somali Launches 51m Br Irrigation Schemes Amid Drought

Apr 9 , 2022


Irrigation schemes built at a cost of over 50 million Br have gone operational in the Somali Regional State. Officials say the irrigation facilities in the Libon Zone have the capacity of irrigating 260ht of land and benefiting over 1,000 households. The development comes as the region grapples with what the UN called "the worst drought in four decades." Millions of people have been affected in Somali and parts of the Oromia and Southern regional states. Last week, the International Rescue Committee (IRC) warned that gaps in funding could leave 25 million people in Ethiopia, Somalia and Kenya at risk of "extreme hunger" due to the drought. Last month, Mustafe M. Omer, president of the Somali Regional State, said the drought in the region has been successfully averted from becoming a famine.


Radar

Standing Committee First Visit to Private Foreign Firm Garners New Era

Safaricom Ethiopia stated that it has become the first private foreign company to host a visit by a standing committee from the House of People's Representatives, with the Democracy Affairs Standing Committee touring the company's operations last week. Wim Vanhelleputte, CEO, presented the company's half-year results, showcasing growth in mobile and M-PESA services. Notable achievements include expanding 4G coverage to 46pc of the population, acquiring over 6.1 million active subscribers, and se...


Radar

Goh Mortgage Bank Registers 12-fold Gross Profit Increase

Goh Mortgage Bank reported gross profits of 83.4 million Br, a twelve-fold increase from last year's 6.4 million Br. At its general assembly last week, the bank announced total deposits of 1.02 billion birr, a 12pc increase from 30,530 deposit accounts, which grew by almost 40pc. Outstanding loans reached 1.55 billion Br, with 60pc directed to the construction sector and 19pc towards export-import activities. The bank mobilized 2.3 million dollars in foreign exchange during the year. Girum Ts...


Radar

Garment Maker Invests 200 million Br in Worker Welfare

Shints ETP Garment PLC, a South Korean enterprise operating inside Bole Lemi Industrial Park, inaugurated a 200 million Br recreational facility and daycare center. This state-of-the-art facility includes a tennis court, basketball court, soccer field, gym, and daycare center, with hopes of enhancing employee satisfaction and productivity. The company currently provides dormitory services for 5,500 workers and primary education for their families and plans to expand its dormitory capacity to 11...


Back
WhatsApp
Telegram
Email