City Receives Donations Worth 36m Br

Aug 16 , 2020


USAID and Save the Children have donated emergency cash worth 26 million Br to 4,429 households in Addis Abeba for the response against the Novel Coronavirus (COVID-19). The assistance, received by Deputy Mayor Takele Uma, will directly go through as cash support to sustain the households for three months, according to the City Administration. In parallel to this, BamaCon Engineering Plc, a construction company in the capital, has provided 100 ventilators worth close to 10 million Br to the City Administration. The ventilators are expected to serve in intensive care units for up to 200 COVID-19 patients a day. The Ethiopian Industrial Inputs Development Enterprise also donated COVID-19 emergency supplies to vulnerable parts of the society.


Radar

Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement an...


Radar

Central Bank Keeps Lending Lid Tight as Inflation Squeezes Economy

The Central Bank has reaffirmed its decision to maintain an 18pc cap on credit growth, reinforcing a commitment to tighter monetary policy during persistent inflation and economic uncertainty. The National Bank of Ethiopia's (NBE) monetary policy committee cited ongoing concerns over inflation, which stood at 19.9pc year-on-year (YoY), and liquidity imbalances as reasons to uphold the restriction on lending. Bankers and analysts interpret this move as evidence of regulators' determination to...


Radar

Ethio Telecom Expands Services with DStv Streaming

Ethio telecom enters the entertainment pool with bundled DStv streaming services through high-speed broadband internet and mobile data packages. The partnership with MultiChoice Ethiopia aspires to merge the telecom's fiber broadband and mobile network with DStv's content. Subscribers can access DStv channels through mobile data or fiber broadband bundles, with discounts of up to 35pc through Telebirr or My Ethiotel (*999#) and up to 26.5pc at sales centers for fiber broadband bundles. Acc...