Canada Commits 191m Br to Promote Women’s Education

Aug 22 , 2020

Cuso International, a nonprofit organisation based in Canada, has launched a five-year project worth 191.7 million Br in the Benishangul-Gumuz Regional State to promote women’s education. Dubbed U-Girl 2, the project is aimed at girls ages 15 to 25, their families and communities to address existing gender barriers that impede their education. The project will provide academic resources, training, tutorials and financial stipends for adolescent girls. Implemented in seven districts, it is expected to benefit 16,500 girls directly and effect an overall reach of 100,000 people. The project is funded by the government of Canada through Global Affairs Canada and is being implemented in cooperation with the Institute of International Education. The U-Girls 2 project will help to address some of the disparities existing in girls’ access to education. That, in turn, will contribute to better participation of women in leadership and politics in the region, according to Solen Abera, lecturer and gender focal person in the Faculty of Health Science at Assosa University. Cuso International works with local partners to amplify their impact in the areas of gender equality, female empowerment and improved economic opportunities for youth.


Ethiopia's Central Bank Dips a Toe in the Open Market Waters

In a historic move to manage liquidity within the banking system, the National Bank of Ethiopia (NBE) held its first-ever open market operation (OMO) on July 11, 2024. The auction drew notable interest from the financial sector, with 16 bidders submitting nearly 20 billion Br. The central bank accepted the total amount of bids, reflecting the banking industry's robust engagement with this new monetary policy tool. The NBE's foray into OMOs is seen as a strategic measure to control the mone...


CBE Shatters Profit Record at 25.6B BR

The state-owned Commercial Bank of Ethiopia (CBE) registered a record-breaking 25.6 billion Br in gross profits for the ended fiscal year, driven by aggressive cost-cutting measures. While CBE faced a challenge earlier in the year with a system glitch, the bank has demonstrably grown its customer base, now exceeding 45 million people. Its total deposits surpassed the trillion birr mark, reflecting a major increase of 170 billion Br. The Bank's revenue also grew by 13pc, reaching 135.4 billion...


Ethio telecom Dominates Industry with Expanding Profits, Coverage

The state-owned teleco company netted 21.7 billion Br in the financial year, posting a 21.7pc jump in revenues to 93.7 billion Br from last financial year. While it has not enjoyed a monopoly since the entrance of Safaricom Ethiopia three years ago, its annual revenues have taken a leap with the competition. The centenarian operator increased its customer base by 8.9pc to reach 78.3 million, with an 85.4pc geographical coverage. Its nearly three-year-old mobile money service, Telebirr, is use...