Red Cross Gets 268m Br in Six Months

Jan 25 , 2020


The Ethiopia Red Cross Society has gained a total of 268 million Br in the past six months of the current fiscal year. Out of the total, 135 million Br was secured from rental income, project income, and grants and donations. The remaining comes from regional branches generated from ambulance subsidy, membership fees, and government support, among other sources. Branches in Tigray, Oromia and Southern Nations, Nationalities, & Peoples' regional states generated 37 million Br, 35 million Br and 25 million Br, respectively. In the reported period, the Red Cross managed to give emergency response services to 335,188 people for 47 million Br. The institution is now on an aggressive campaign to expand its membership base and mobilise more resources from domestic sources to ensure organisational and financial sustainability, according to Meshesha Shewarega (PhD), the secretary-general.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email