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AfDB Pledges 830,000 dollars to Improve Climate Resilience

Jun 4 , 2022

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Ethiopia will receive 830,000 dollars in grants from the African Development Bank (AfDB) to be used for climate risk management. The fund came from the Climate Investment Funds’ Pilot Program for Climate Resilience. The agreement was signed on the sidelines of the African Development Bank’s annual conference held in Accra, Ghana, where Semereta Sewasew, state minister for Finance, led the Ethiopian delegation. During the conference, the AfDB hailed its technologies for African Agriculture Transformation (TAAT) programme, under which heat-tolerant wheat varieties were provided to 1.8 million farmers. The programme is credited for raising wheat production by 2.7 million tonnes.

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State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...

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MIDROC Cocoa Drive, Local Production Focus on Value Addition

MIDROC Investment Group is placing a bold wager on cocoa in the lowlands of Sheka. Building on extensive trials at the Bebeka Coffee State Farm, the company has introduced globally prized Forastero, Trinitario, and Criollo varieties alongside coffee. "The results are astonishing," said General Manager Beshada Worku, pointing to international prices that range from 8,200 to 14,000 dollars a ton. The project's first phase covers 50 hectares, with 44,000 seedlings already planted. Expansion to ...

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Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...

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