EU Contributes to Pandemic Frontline

Apr 10 , 2021

The European Union (EU) has donated COVID-19 medical supplies meant to help curb the virus's spread in vulnerable border areas such as Metemma, Kumruk, and Moyale. The items handed over to the Ethiopian Public Health Institute (EPHI) include half a million surgical masks, 100,000 surgical caps, over 25,000 COVID-19 test kits, and two ambulances. An advanced ambulance, a mobile laboratory, and half a million surgical gloves will be arriving in subsequent months, according to EU officials. The donation is part of the EU’s 60-million-euro package to support IGAD member states in tackling the health and socio-economic impacts of the COVID-19 pandemic. A little over a year since the first case of COVID-19 was discovered in Ethiopia, no less than 3,000 people have lost their lives to the virus, while over 200,000 people have contracted the virus. The spread of the virus has shown a sudden surge since January this year, alarming health authorities and the public.


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...