African Development Bank Obtain $90m Project to Support Agricultural Efforts


African Development Bank Obtain $90m Project to Support Agricultural Efforts

The production of wheat through an irrigation scheme foresees support as the Africa Development Bank plans to intervene in the agricultural sector with a 92-million-dollar project which is expected to increase private sector engagement, creating job opportunities for the youth in the selected areas. Planned discourse in a meeting that saw the attendance of Semereta Sewasew, state minister for Finance, Pascal Sanginga (PhD), head of the East African Development Bank division for agriculture and Lanchen Ennali, chairman of OCP Group, a leading phosphate producer, occurred. Semerta briefed the current opportunities and challenges of wheat production, one of the main staple grains vital for food security and income generation of smallholder farmers. She also pointed out the work done to improve productivity and quality of production through improved seeds, fertilizers, irrigation, mechanization, extension services, and market linkages. Pascal assures the continuity of African Development Bank aid in the second compact program, which sought to augment food security endeavours in the continent. Lanchen also pledged to extend support to the newly initiated project to foster agricultural productivity and reduction of poverty and malnutrition. The African Development Bank was established in 1964 to finance African countries' economic growth and social progress efforts. It has extended finance for development projects in agriculture, energy and construction.


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Parliament Reviews Bill Allowing Foreign Property Ownership

A draft proclamation that would allow foreigners to own or occupy immovable property in Ethiopia has been submitted to parliament by the Council of Ministers. Designed to attract foreign investment, the draft law plans to ensure that Ethiopian citizens retain their right to land ownership and use. According to a statement from the Prime Minister's Office, the draft was among six agenda items discussed and approved during the Council's regular session held on May 2, 2025. The proclamation is e...


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Speeding in the Spotlight as New Safety Drive Begins

The Road Safety and Insurance Fund Service has stated that drivers are responsible for 68 percent of traffic accidents in Ethiopia, with the remainder mainly caused by pedestrians and road conditions. On this topic, the service launched a one-month mass media campaign on last week focused on raising awareness about speeding, the leading cause of traffic accidents. The campaign, under the motto "Slow Down, Speeding Ruins Lives," plans to shed light on the dangers of speeding. Yohannes Lemma, E...


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Askari Metals Secures Five Gold Licenses in Untapped Adola Belt

Askari Metals has acquired 100pc of Rift Valley Metals, gaining five gold exploration licences covering 460sqkm in Ethiopia's Adola Greenstone Belt, part of the southern Arabian-Nubian Shield, a mineral-rich but underexplored region. "The exploration areas—Sakaro, Sakaro West, Lega Dembi South, Megado, and Wayu Boda—lie near Ethiopia's top gold mines, including Lega Dembi and Sakaro, which have produced over three million ounces of gold. The area is known for orogenic gold systems hosted...