FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




Danish Gov't to Donate $4.5m to Humanitarian Efforts

Nov 20 , 2021


[ssba-buttons]

The government of Denmark has announced it will be donating 30 million Danish kroner (4.5 million dollars at current exchange rates) to boost ongoing UN humanitarian efforts in Ethiopia. The UN estimates that some 20 million people are in need of urgent aid in Ethiopia as a result of armed conflict, drought, flooding, insect infestation and the COVID-19 pandemic. Last week, the UN also approved the release of 40 million dollars in funding for emergency operations in Ethiopia. Most of the financing is from the UN's Central Emergency Response Fund while the remaining 15 million dollars is being sourced from the country-based Ethiopia Humanitarian Fund. The money will support aid agencies providing protection and other life-saving assistance to those affected by the conflict in the Amhara, Tigray and Afar regional states.


Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...