Agricultural Agency Receives Glowing Report

Dec 12 , 2020


The Food & Agriculture Organisation of the United Nations (FAO), which has conducted an independent evaluation of the Agricultural Transformation Agency (ATA), stated that the latter played a role in raising the GDP of Ethiopia by an average of 0.3pc annually. The ATA had engaged the FAO to conduct an independent evaluation of the Agency's impact on the country in terms of projects completed and its role in agricultural transformation and poverty reduction. In the decade between its inception and the time that the evaluation was conducted earlier this year, ATA was largely cost-effective and registered returns roughly 10 times its expenditures, which amount to around 140 million dollars, according to Maximo Torero Cullen, Chief Economist and Assistant Director-General of the FAO. The Agency, which has its headquarters in Addis Abeba and branch offices in Amhara, Tigray, Oromia and Southern Nations Nationalities & Peoples' regional states, employs close to 400 people. The ATA is partially funded by nonprofit organisations including the Bill & Melinda Gates Foundation and the Danish International Development Agency (DANIDA).


Radar

Authority Enacts EV Charging Stations Directive

A new directive setting technical standards, licensing requirements, and safety measures for electric vehicle (EV) charging stations has been approved. Created by the Petroleum & Energy Authority (PEA), it aims to ensure the quality of energy supply and the safety of charging stations and accelerate the adoption of EVs. The directive outlines service provision regulations, including technical and safety standards as well as electricity tariff criteria. It divides public charging stations...


Radar

Fuel Prices Surge Following Subsidy Withdrawal

The Council of Ministers has authorised monthly reviews and adjustments to retail fuel prices, leading to a price hike on January 7. The increase affects gasoline, kerosene, white diesel, light black diesel, heavy black diesel, and jet fuel. Gasoline prices rose by 11.3pc to 101.47 Br a litre. White diesel and kerosene prices increased by 9.6pc, while light black diesel now costs 108.30 Br a litre, and heavy black diesel is priced at 105.97 Br. Long queues at fuel stations persisted until...


Radar

Wegagen Bank Expands into Diaspora Real Estate Market

Wegagen Bank has signed a memorandum of understanding (MoU) with Deluxe Properties to support diaspora communities in purchasing homes. The agreement was signed at Wegagen Bank's headquarters last week. Under the MoU, Wegagen Bank will provide financing to diaspora buyers of Deluxe Properties' homes. The bank offers loans covering up to 80pc of the property's cost, with repayment terms spread over 25 years. The Bank stated the initiative supports the National Bank of Ethiopia's (NBE) missi...