Germany Extends 20m Euro to Drought Response Efforts

Feb 19 , 2022

The government of Germany has donated 20 million euros to mitigate the effects of a drought that is taking a heavy toll in the Horn of Africa. To be distributed among humanitarian operations in Ethiopia, Kenya and Somalia, the donation is being made through the Food & Agriculture Organisation (FAO). Eastern and southern portions of Ethiopia, particularly the Somali, Southern and Oromia regional states, have been suffering what the UN calls the worst drought the country has seen in four decades. The UN estimates some 13 million people are at risk of hunger in the Horn, with Ethiopia accounting for around a third. The German government extended over 560 million euros to humanitarian assistance efforts in Africa last year.


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...