Benishangul Gumuz Requires 75b Br in Conflict Recovery

Apr 15 , 2023


[ssba-buttons]

Severe challenges plague the health sector of Benishangul Gumuz Regional State as the social development, culture & sports affairs Standing Committee reported to Parliament after doing a field study. Getahun Abdisa, the vice president of the regional state remarked that as much as 75 billion Br would be required to help the region fully recover from the impacts of sporadic conflicts over the last four years. Shortage of funding that takes into account the widespread systemic damage that the regional state has experienced was remarked on by the vice speaker of the regional state's parliament Alemenesh Yibas. A general appeal for special attention to the regional state was shared by all representatives from Beninshangul Gumuz. Severe logistic hurdles arising from the presence of armed groups on the road to the regional state have also inflated costs of goods much higher than the national average. A litre of petrol has been selling for nearly twice the national rate at 120 Br. Drivers being forced to take longer routes to avoid engagement with these armed groups has compounded costs to unprecedented levels. Higher officials within the regional state also indicated that conflict has disturbed the population distribution of the region with some districts being completely abandoned.


Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...