FAO Launches $10.6m Drought Resistance Project

Apr 10 , 2021

Over 117,000 households in the Afar, Somali, and Southern regional states are set to benefit from a 10.6-million-dollar project aimed at protecting pastoralists and farmers living in areas classified as drought-sensitive. The project, which is funded by the United Nations Central Emergency Relief Fund, will entail the provision of drought-tolerant crop seeds as well as health treatment campaigns and supplementary feed for livestock. The Food & Agriculture Organisation (FAO) will provide the beneficiaries with unconditional cash packages expected to cushion them from drought’s adverse impacts. The FAO is carrying out the six-month project in anticipation of drought in the regions due to a forecast of below-average rainfall levels for three months beginning March 2021.


E-Consultation Portal Launched to Boost Stakeholder Engagement

An e-consultation manual and portal designed to enhance stakeholder engagement in the drafting of laws before their final ratification stage was launched last week. Developed by the Business Environment & Investment Climate (BEIC) project team, the platform operates under the oversight of the Justice and Technology ministries. It aims to improve transparency, efficiency, awareness, and effectiveness throughout the law formulation and enactment process. According to Belayhun Yirga, stat...


Trade Ministry Changes Guard

Prime Minister Abiy Ahmed (PhD) made a series of appointments last week, assigning Kassahun Goffe (PhD) as the new Minister of Trade & Regional Integration. Kassahun, who previously served as the State Minister, succeeds Gebremeskel Chala, who navigated the country through various trade reforms. The appointment comes amidst an export slump, as Ethiopia has faced major economic and political headwinds over the past few years. The Ministry reported a shortfall of 863 million dollars from it...


Ahadu Bank Savours First Taste of Profits

Ahadu Bank registered a 175 million Br gross profits in the ended year, turning around its financial performance. The two-year-old Bank established with 503 million Br in paid-up capital mobilised from 9,600 shareholders has also managed to double the figure to 1.03 billion Br. Ahadu's total assets have also nearly doubled to 6.3 billion Br, while its operating income soared to 1.15 billion Br from financial services for nearly 700,000 customers. It also expanded its branch reach across the c...