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.


Radar

Ethiopia Buys Time, Not Relief as Creditors Stall on Debt Write-Off

Ethiopia's official creditors expect to finalise a draft restructuring of the country's debt in the coming months, granting the government more time to repay its obligations while avoiding a direct reduction to the initial debt amount. Ethiopia defaulted on its external debt in December 2023, before its leaders announced a preliminary deal in March with its Official Creditor Committee to reorganise 8.4 billion dollars, an essential step in moving beyond sovereign default. Under the agreement...


Radar

Road Injuries Increase by 35pc, with Pedestrians Most Affected

Addis Abeba's streets continue to present fatal risks for pedestrians, who account for 86pc of all traffic fatalities reported in 2023/24. Megenagna emerged as a particularly hazardous area, logging the highest number of fatalities, including 13 deaths. While the number of pedestrian deaths has dipped slightly, overall injuries have surged by 35pc since 2020/21, with eight out of 10 injuries involving those on foot. The Addis Abeba City Administration revised its 13-year road safety strate...


Radar

Awash Insurance Customer Week Discount

Awash Insurance Company(AIC), serving for over 30 years, gives a 25pc discount on Mortgage Redemption Insurance (MRI), Individual Life Insurance, Education Insurance, Workers' Compensation Insurance, and Fire & Lightning Insurance. This was announced during the celebration of Customer Week at their headquarters, on April 7,2025. Jibat Alemneh, CEO of the company said, Vehicles owners that purchased thier cars with full insurance coverage will receive enhanced benefits at no extra cost at...