Half a Billion Birr Flood Management Project Onboards Contractors

Jun 30 , 2024


[ssba-buttons]

Five local contractors have entered into a 515 million Br deal with the Ministry of Water & Energy for flood risk management projects in Oromia and Afar Regional States. Habib Hussein Construction, Wada Engineering & Alison Fromsa Construction, Habib Hussein Water Works Construction, Solomon Tadesse Water Works Construction and  Aklasia General Water Works Corporation signed the deal with State Minister for Water & Energy Adugna Bekele(PhD). The projects signed off at the Ministry's headquarters on Haile Gebre Silase St will be distributed across seven high-risk areas in the two regions. Adugna underscored the importance of developing flood risk management mechanisms in the future due to the accelerated risks posed by climate change. His comments stem from heavy rainfall across East Africa in the past few months, which disrupted the lives of 70,000 people in Ethiopia. According to the latest report by the United Nations Office for the Coordination of Humanitarian Affairs, severe climate events (drought and flooding), conflicts, and disease outbreaks continued to cause displacement and push millions of people into acute food insecurity, high levels of malnutrition, and public health emergencies.


Radar

State-Owned Enterprises Deliver, But Fund Seeks More from Underperformers

Ethiopian Investment Holdings (EIH), the country's sovereign wealth fund, closed its annual performance review with a mix of strong gains and lingering concerns across its portfolio of state-owned enterprises. Ethiopian Shipping & Logistics led the year with 4.5 million tons of cargo, driving revenues up 90pc and doubling pre-tax profit. Sugar production from Wonji Shoa, Metehara, and Fincha climbed 34.8pc to 163,290 tons, nearly doubling revenues to 15.6 billion Br, though EIH flagged ch...


Radar

MIDROC Cocoa Drive, Local Production Focus on Value Addition

MIDROC Investment Group is placing a bold wager on cocoa in the lowlands of Sheka. Building on extensive trials at the Bebeka Coffee State Farm, the company has introduced globally prized Forastero, Trinitario, and Criollo varieties alongside coffee. "The results are astonishing," said General Manager Beshada Worku, pointing to international prices that range from 8,200 to 14,000 dollars a ton. The project's first phase covers 50 hectares, with 44,000 seedlings already planted. Expansion to ...


Radar

Bureau Maps Out 1,700 Land Rights in a Month

The Rights Registration & Holding Service Directorate under the Bureau of Land Development & Administration prepared over 1,700 landholding certification maps in a single month. The update came during the bureau's July performance review, which measured progress against the upcoming fiscal year's targets. Director Tesfamichael Endale said efforts are being scaled up to give farmers secure land rights and quicker certification. Deputy Head WendwossenBanjaw added that the priority ahead...