US Agency Donates $7.7m to Disaster Risk Training

Aug 20 , 2022


[ssba-buttons]

The United States Agency for International Development (USAID) has announced 7.7 million dollars in funding to Bahir Dar University for the training of 750 disaster risk management professionals. The capacity-building fund is the largest external contribution ever donated to the University. Last month, a judge at the Federal First Instance High Court granted federal investigators custody of MitikuKassa, head of the National Disaster Risk Management Commission. Mitiku was detained by federal police on suspicion of "corruption, misuse of public property, and abuse of office." USAID has also donated medical supplies valued at 73 million Br to health centres in the Amhara Regional State affected by the militarized conflict in the country's north. Close to 1,800 health centres in four regional states, including Afar and Oromia, have been partly or wholly damaged due to civil war and instability, according to federal authorities.


Radar

EthSwitch Sees Record Profit, Expands Digital Payment Reach

EthSwitch, the national switch operator, reported a record 1.4 billion Br gross profit for the fiscal year ending June 2025, a 34pc increase from last year's 1.06 billion Br. The performance was driven by a sharp rise in interoperable transactions, reflecting the country's growing embrace of digital payments. Person-to-person (P2P) transfers led revenue generation with 902.6 million Br, nearly half of total income, followed by ATM transactions contributing 825.1 million Br. Overall revenue cl...


Radar

Lion Bank Delivers Robust Results, Rewarding Shareholders

Lion International Bank S.C. posted a profit before tax of 1.8 billion Br for the last fiscal year, marking a 94pc surge from the previous year. The announcement was made during the bank's General Assembly held last week at the Sheraton Addis Hotel. After provisions and taxes, the bank registered a net profit exceeding 900 million Br, with shareholders earning 27pc per share. Deposits climbed by 23pc to 44 billion Br, up from 35.6 billion Br, while total loans and advances reached 36.2 billio...


Radar

Berhan Bank Lifts Earnings as Reforms Ease Forex Strain

Berhan Bank reported a 28.1pc growth in its latest fiscal year, buoyed by economic reforms and relaxed forex directives. The Bank's total deposits climbed to 44.5 billion Br by June 30, 2025, up 7.6 billion Br from the previous year. Net profit distributed to shareholders rose by 36pc, while total income reached 10.3 billion Br, marking a 61.4pc increase. Interest income accounted for nearly 59pc of total earnings, driven largely by the repeal of the National Bank's 70pc forex surrender rule...