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

Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement an...


Radar

Central Bank Keeps Lending Lid Tight as Inflation Squeezes Economy

The Central Bank has reaffirmed its decision to maintain an 18pc cap on credit growth, reinforcing a commitment to tighter monetary policy during persistent inflation and economic uncertainty. The National Bank of Ethiopia's (NBE) monetary policy committee cited ongoing concerns over inflation, which stood at 19.9pc year-on-year (YoY), and liquidity imbalances as reasons to uphold the restriction on lending. Bankers and analysts interpret this move as evidence of regulators' determination to...


Radar

Ethio Telecom Expands Services with DStv Streaming

Ethio telecom enters the entertainment pool with bundled DStv streaming services through high-speed broadband internet and mobile data packages. The partnership with MultiChoice Ethiopia aspires to merge the telecom's fiber broadband and mobile network with DStv's content. Subscribers can access DStv channels through mobile data or fiber broadband bundles, with discounts of up to 35pc through Telebirr or My Ethiotel (*999#) and up to 26.5pc at sales centers for fiber broadband bundles. Acc...