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




Diaspora Trust Fund Donates $1m Worth of Protective Gear

May 9 , 2020


[ssba-buttons]

The Ethiopian Diaspora Trust Fund (EDTF) has procured eight types of personal protective equipment (PPE) worth 1.2 million dollars to be used to safeguard the well-being of frontline health personnel working to save lives amidst the Novel Coronavirus (COVID-19) pandemic. The procurement was made in the middle of last week after the EDTF signed an agreement with the Ministry of Health. The procured items include face shields, thermometers, gloves, face and respirator masks and protective clothing, among others. The EDTF Emergency COVID-19 Mitigation subaccount was opened on April 4, 2020, with one million dollars in seed money. Then EDTF formed an Implementation Committee (IC) to liaise with the Ministry of Finance about the items and supplies needed to combat the pandemic and undertake the required steps to secure the supplies. The Committee procured the items from SNS Global Pharma Corporation. "We allocated one million dollars in initial start-up funding from the EDTF's ongoing fund and mobilised an additional 130,000 dollars to date under a new subaccount," said Alemayehu G. Mariam (PhD), chairperson of the ETDF.


Radar

Creditors Open Way for Ethiopia's Eurobond Restructuring

Ethiopia has cleared a key hurdle in restructuring its one billion dollar Eurobond after the Official Creditor Committee (OCC) approved the latest agreement with private bondholders. The OCC said the deal meets its “comparability of treatment” principle, allowing the government to proceed with restructuring the bond, which matured in 2024. The approval follows renewed negotiations after official creditors rejected an earlier agreement reached in January. Under the new agreement, reache...


Radar

University Cutoff Leaves Most Exam Takers Behind

Only 70,544 students, or 12.8pc of those who sat the Ethiopian Secondary School Leaving Certificate Examination (ESSLCE), scored above the 50pc threshold required for university admission. Education Minister Berhanu Nega (Prof.) disclosed the results during a press briefing last Saturday. Nearly 32pc of the successful candidates were from Addis Abeba, giving the city the highest share. Oromia Regional State followed, while Amhara Regional State accounted for the remaining share. The res...


Radar

Dairy Drive Turns to Farmers to Cut Import Reliance

A five-year dairy project targeting 350,000 farmers has increased average milk production per cow by 3.8 litres a day, supporting Ethiopia's effort to replace imported dairy products with domestic output. The Ministry of Agriculture leads the initiative in collaboration with SNV's BRIDGE Plus project. It combines cow-focused advisory services, technology, market links and farmer capacity-building to raise dairy productivity. The work has centred on helping farmers produce surplus milk for sal...