Cooperative Bank Donates 70m Br to Drought Response Efforts

Feb 26 , 2022


The Cooperative Bank of Oromia has donated humanitarian supplies worth 70 million Br to drought-stricken areas of Oromia Regional State. The supplies include food and animal fodder to be distributed to five zones, including East Bale, Borena and Guji. More than half a dozen zones in Oromia, an additional 10 in the Somali Regional State, and areas of the Southern region, are suffering from what the United Nations describes as the "worst drought the country has seen in four decades." Humanitarian organisations estimate that around seven million livelihoods in the regions are in need of live-saving support. Millions more are in a similar predicament in neighbouring Kenya and Somalia as well.


Radar

Capital Market Authority Extends Public Company Registration Deadline, Warns Against Unlicensed Investment Bank

Ethiopian Capital Market Authority (ECMA) has granted a final one-month extension for publicly held companies to register, setting the new deadline for April 9, 2025. The extension applies specifically to companies with over 50 shareholders, who are required to submit comprehensive documentation across all industries. Mandatory details include the total number of shareholders, the total number of shares issued, fully paid shares, subscribed shares, and the value of shares on the reporting dat...


Radar

State Corps Post Growth Eyeing Innovation, Market Expansion

The Ethiopian Insurance Corporation (EIC) generated 9.34 billion Br in written gross premiums, marking a considerable 51.7pc increase compared to the same period last year. The Corporation's profit reached 1.2 billion Br, exceeding its planned target by 15pc and increasing by 62.7pc from last year's corresponding period. Executives of Ethiopian Investment Holdings (EIH), Ethiopia's sovereign fund that owns state enterprises, commended EIC for its achievements and provided strategic guidance t...


Radar

Ethiopian Airlines, AfDB Forge Partnership for Bishoftu International Airport Project

The Ethiopian Airlines Group has signed a letter of intent with the African Development Bank (AfDB) to launch a partnership for the ambitious Bishoftu International Airport Project. Mesfin Tasew, CEO of Ethiopian Airlines, and Nnenna Nwabufo, vice president of Regional Development, Integration & Strategy at AfDB signed the agreement. The two officials expressed their intent to consolidate the existing partnership through strategic and innovative engagements to benefit Ethiopia and the wid...