Ethiopia's Internal Displacement Tops Global List: Report Reveals

May 21 , 2022

Ethiopia recorded the highest number of internally displaced people (IDPs) of any country in 2021, according to a report published by the Internal Displacement Monitoring Centre. The armed conflict gripping the country's north since November 2020, and rising insecurity in other regions triggered the displacement of 5.1 million people, according to the report. It is three time higher than the number of IDPs recorded in 2020, and the highest annual figure ever recorded for a single country. The Centre estimates over 59 million people had been internally displaced in 2021 globally. Sub-Saharan Africa accounted for more than three-quarters of all IDPs forced to relocate by conflict and violence. The Centre is a non-governmental organisation established in 1998 by the Norwegian Refugee Council.


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...