FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds




IGAD Receives COVID-19 Relief

Sep 6 , 2020


[ssba-buttons]

The Intergovernmental Authority on Development (IGAD) has received support from six partnering organisations amounting to 60 million euros to combat the Novel Coronavirus (COVID-19) pandemic. The initiative, funded by the European Union (EU), involves German development agency GIZ, International Organisation for Migration (IOM), TradeMark East Africa (TMEA), UNICEF and UNOPS. The initiative is primarily aimed at increasing access to health and socioeconomic support for vulnerable groups. The eight countries under IGAD will receive the support as part of the EU’s Team Europe Global Response Package for partnering countries and will reach twenty cross-border communities, six refugee camps and five migrant refugee centres in the region. It is expected to provide health services to more than 400,000 people and provide critical water, sanitation and hygiene supplies to over 500,000 people. The partnering organisations will support the programme by procuring essential personal protective equipment, creating safe trade zones, and promoting digital solutions for the response to the pandemic.


Radar

Annual U.S.–Ethiopia Real Estate Expo to Debut in July

Harvest Circle Inc., a U.S.-based organisation, will launch the first annual U.S.-Ethiopia Real Estate & Construction Expo in July 2026. The event will bring together Ethiopian and U.S. real estate developers, construction firms, banks, insurers, property managers, and investors to explore partnership, financing, and investment opportunities. Organisers say the platform seeks to promote private sector-led urban development, facilitate diaspora investment, and expand market access for Ethiop...


Radar

Addis Abeba Housing Bureau Warns Landlords against Illegal Rent Hikes, Threatens Legal Action

The Addis Abeba Housing Development and Administration Bureau has issued a warning to landlords attempting to impose unauthorised rent increases or carry out unlawful evictions as the residential leasing cycle nears its statutory June 30 deadline. The warning follows reports of landlords pressuring tenants to vacate properties under claims of personal use or sale, alongside demands for steep rent hikes, according to comments made to state media. Kidist W. Giorgis, Head of the Bureau, said...


Radar

Development Bank Turns Corner as Profit Hits Eight Billion Br

The Development Bank of Ethiopia (DBE) posted a gross profit of eight billion Br in the first nine months of the fiscal year while repaying 15.6 billion Br in outstanding debt. Total income reached 17.3 billion Br, exceeding its target by 12pc. Presenting its performance to the House of Peoples' Representatives Standing Committee for Government Development Organizations, the bank highlighted progress from ongoing reforms, including reducing its non-performing loan ratio to 13.4pc, below the Nati...