Ethiopia Makes Slight Progress on Human Dev't Report

Dec 19 , 2020


[ssba-buttons]

Ethiopia stagnated in the 173rd position out of 189 countries listed on the 2020 edition of the Human Development Index (HDI) released by the United Nations Development Programme (UNDP). Ethiopia remained in the same position it occupied in the 2019 report although the HDI rating has improved slightly to 0.485 from 0.47. The rankings show that Ethiopia showed incremental advances in life-expectancy and education indices. The data also highlight that Gross National Income per capita has climbed higher to just over 2,200 dollars from the previous year's entry of 1,780 dollars. The report emphasises that world leaders need to address the pressure that is being exerted on the environment in order to safeguard stability and progress. It estimates that if things continue the way they are going, parts of the world could face up to 100 more days of extreme weather each year by 2100. The report maintains that tackling inequality, capitalising on innovation, and working with nature are the ideal ways forward. This year, the organisation has also introduced an experimental Human Development Index (HDI) that takes a country's carbon dioxide emissions and material footprints into account.


Radar

Central Bank, Global Alliance Partner to Enhance Sustainable

The National Bank of Ethiopia (NBE) recently hosted a high-level meeting with representatives from the Global Alliance for Banking on Values (GABV) and selected member banks in anticipation of the 17th GABV Annual Meeting scheduled in Uganda. The meeting convened commercial bank representatives from Ethiopia, alongside a delegation comprising six GABV members, including Centenary Bank and Opportunity Bank Uganda, Amalgamated Bank, Sunrise Banks, City First Bank, and Merkur Cooperative Bank. G...


Radar

Commercial Bank of Ethiopia Adjusts Loan Interest Rates Amid Market Reforms

Commercial Bank of Ethiopia (CBE) has announced adjustments to its loan interest rates, effective March 7, 2025. Bank executives cited rising deposit mobilisation costs and the need to align with market standards as key factors influencing the decision, despite successful internal reforms that have reduced operational expenses. Executives noted that these adjustments are crucial for maintaining its competitive edge and ensuring the continued delivery of efficient services to its clientele. ...


Radar

Chemical Corp Posts Substantial Revenue, Profit Growth in 1Q

The state-owned Chemical Industry Corporation recorded a revenue of 2.53 billion Br in the first half of the 2024/2025 financial year. The Corporation reported a profit before tax of over half a billion Birr, which marks a considerable 182.6pc increase compared to the same period last year. Company officials attributed the growth result to enhanced market reach, effective cost-cutting measures, and optimisation of plant capacity utilisation. Year-on-year revenue growth was noted across variou...