IRC Beefs Up Drought Response, Warns 25m at Risk of 'Extreme Hunger'


IRC Beefs Up Drought Response, Warns 25m at Risk of 'Extreme Hunger'

The International Rescue Committee (IRC) has pledged a further five million dollars to bolster drought response efforts in East Africa. The humanitarian organisation warns that gaps in funding could leave 25 million people in Ethiopia, Somalia and Kenya at risk of "extreme hunger". The UN called the drought "the worst in four decades." It is the result of three consecutive poor rainy seasons, which have been disastrous for the largely pastoralist population in the affected areas. The IRC says severe and acute malnutrition are their highest rates on recent record in drought-affected areas in all three countries. The organisation urges additional financing to combat the effects, saying Somalia still needs 96pc of  the required funding to reach the targeted population with critical humanitarian aid. The figure is around 90pc in Kenya. Last month, Mustafe M. Omer, president of the Somali Regional State, the worst-hit region in Ethiopia, said the drought in the region has been successfully averted from becoming a famine.

[ssba-buttons]

Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...