Diaspora Fund Commits $0.5m to Medical Relief

Jan 3 , 2021

The Ethiopian Diaspora Trust Fund (EDTF) has committed half a million dollars to a medical relief fund that is intended to go toward alleviating the shortage of medical supplies in Ethiopia. The EDTF also launched a fundraising campaign through which it expects to raise an additional half a million dollars from donors intended for a similar purpose. The Fund has so far procured and delivered over a million dollars worth of medical supplies to fight the Novel Coronavirus (COVID-19) pandemic in Ethiopia. Additionally, it approved 1.3 million dollars to finance five development projects around the country. Founded in August 2018, the EDTF has 48 chapters around the globe. It aims to finance projects in areas as health, education, water and sanitation facilities, habilitation and rehabilitation of persons with a disability, agricultural development, technology, small-scale entrepreneurship and other income and employment generating projects.


Pivots in Business Maze

A set of projects spearheaded as part of ease of doing business reform with a 7.2 million euro finance from the European Union (EU) is set to improve and navigate the lingering concerns in Ethiopia's business landscape. E-governance projects are undertaken by GIZ International Services and Mckinsey & Company in cooperation with five federal agencies, including the Justice, Trade,  Innovation, Revenues ministries and National Bank of Ethiopia (NBE) are part of the wider plan to improve the d...


Dashen Bank Board Reinstates its Chair

Dashen Bank re-appoints Dula Mekonnen as its Board Chairman, extending his tenure for another three years. The decision was made during a board of directors meeting held at the Sheraton Addis Hotel last week. Dula holds a first degree in electrical engineering from the Adama Science & Technology University and a graduate degree in business management. With a diverse leadership background spanning three decades, Dula has served as a manager at Ethio-Leather Industry Plc and managed Wenji S...


Digital Fuel Transactions Soar Amid Subsidy Drop

Nationwide digital fuel transactions have exceeded the 155.4 billion Br mark, as the Ethiopian Petroleum & Energy Authority released a half-year report last week. Consistent reductions in fuel subsidies have led to the fuel price stabilisation fund hitting an all-time low of 117.4 billion Br, a decrease of 79.6 billion compared to the previous year. The report highlights the successful monitoring of subsidies across the country's 1,589 fuel stations, benefiting nearly 200,000 transporters...