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Gov't Receives $118m in AfDB Grants

Jul 24 , 2021

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The Ethiopian government and the African Development Bank Group (AfDB) have signed an agreement for two separate grants worth 118 million dollars, aimed at supporting agro-industrial parks, Ethiopia-Djibouti power interconnection and youth employment. The agreement was signed by Ahmed Shide, minister of finance, and Abdul Kamara (PhD), deputy director-general of the AfDB's East Africa Regional Development & Business Delivery Office. Over half of the amount (71 million dollars) will be extended to the Ethiopia-Djibouti Second Power Interconnection Project, which aims to boost electricity trading between the neighbouring countries. The remaining 47 million dollars will go into the enhancement of productivity in agro-industrial parks and creating employment opportunities for the youth. Officials hope to create job opportunities for 3,000 jobs people through the project.

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Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...

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Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...

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Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...

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