Africa Development Fund Pledges $31m to Combat Stunting

Apr 30 , 2021


Forty woredas in the Amhara and Tigray regional states are set to benefit from a 31.2-million-dollar grant from the African Development Fund aimed at reducing malnutrition and ending child stunting. Child malnutrition remains a significant development challenge in Ethiopia. In the project target area, nearly half of children under age 5 are afflicted by stunting due to undernourishment, low dietary diversity, and poor access to drinking water. The funding will go to the government's Multi-sectoral Approach for Stunting Reduction Project (MASReP), which was initiated in 2015 to end stunting in children under two years by 2030. It has three components: developing climate-proofed infrastructure; supporting the production and promotion of nutritious foods and strengthening institutional systems. The entire project is expected to cost around 48 million dollars.


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