Ethiopia Secures $451m to Enhance Livelihoods

Dec 7 , 2019

The World Bank and the International Fund for Agricultural Development (IFAD) committed 451 million dollars to support projects intended to enhance the livelihoods of pastoralist and semi-pastoralist communities. To be implemented in six regional states, the projects are going to be jointly implemented by the Ministry of Peace and the Ministry of Agriculture in 100 weredas in Afar, Benshangula-Gumuz, Gambella, Oromia and SNNPR for the coming six years. The programme was launched on December 5, 2019, at Capital Hotel in Addis. The programme will implement projects in irrigation, livestock production, and other revenue-generating activities to benefit a total of 2.5 million people and 500 households among the pastoralist and semi-pastoralist communities living in the six regional states. The Ministry of Peace and the Ministry of Agriculture signed a memorandum of understanding to implement the projects jointly.


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

A financial education program targeting youth and Medium & Small Enterprises (MSMEs) was launched by the National Bank of Ethiopia (NBE) last week. It aims to equip interested trainees with personal and professional knowledge through experts from banks and microfinance institutions who will provide comprehensive training. The training modules, developed in collaboration with The First Consult and BRIDGE, cover several angles of financial literacy, including deposits, digital financial servic...


ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...