Farm Africa Ethiopia Signs 30 million Deal with Swedish Embassy

Jun 3 , 2023


A three-year project to combat soil acidification and erosion through nature-based solutions was availed last week. It was spearheaded by Farm Africa Ethiopia with financial assistance from the Swedish Embassy. The Ambassador of Sweeden to Ethiopia, Hans Lundquist, signed the partnership agreement with the director of Farm Africa Ethiopia, Shewit Amanuel. The project is expected to be implemented across five regional states and 35 districts, where 87,400 households are expected to be beneficiaries. The Ministry of Agriculture revealed in its nine-month report in April that a whopping 43pc of the country's arable land is plagued by excessive acid content reducing fertiliser effectiveness. With the Ministry only managing to import 12pc of its planned 900,000qtl of limestone due to a budgetary squeeze, the impact of acidity on reducing agricultural productivity had been forewarned by experts. The agricultural sector contributes close to 40pc of the country's GDP while also employing two-thirds of the labour force. A combination of drought in Oromia Regional State, delayed delivery of fertilizer due to forex crunch and spurts conflict in several parts of the country have cast a precarious shadow over the next harvest season. Farm Africa was founded in 1985 by Sir Michael Wood, founder of AMREF Health Africa and David Campbell in response to the famine occurring in Ethiopia.


Radar

Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


Radar

$100m Project Mulls Public Transportation Make-Over

A 100-million-dollar project aims to manufacture over 5,000 diesel-powered and electric public transport vehicles for the capital. The proposed project was launched hoping to replace the ageing vehicles and improve safety, efficiency and quality across the city's urban transport system. Last week saw an MoU inked between executives of Multiverse Enterprise Plc and Addis Abeba Minibus Associations and was held at Vamdas Entertainment near Megenagna. The agreement includes plans to replace 15,000...


Radar

Safaricom Soars with 6.1 million Customers

Safaricom Ethiopia reported significant commercial growth in the first six months of the 2025 fiscal year (April to September 2024), with notable increases in both mobile (GSM) and M-PESA services. The company's network and services reached a population coverage of 46pc, growing from 30pc in the previous year. This expansion was supported by the addition of over 1,000 network sites, bringing the total to more than 3,000 across the country. Safaricom Ethiopia saw a surge in its customer base,...


Back
WhatsApp
Telegram
Email