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




Korea Proffers $10m for Ethiopia, Africa

Aug 8 , 2020


[ssba-buttons]

Korea has given 10 million dollars to support the fight against the Novel Coronavirus (COVID-19) pandemic in Ethiopia and other African countries. Ethiopia will receive half of the funding, and the rest will go toward the Africa Centres for Disease Control & Prevention (Africa CDC), a public health agency of the African Union. The support, under the COVID-19 Comprehensive Emergency Response Programme, will be used for the procurement of medical supplies like personal protective equipment (PPE) for frontline health workers. It is also intended for capacity building training for the health workforce responding to COVID-19 in cooperation with the World Health Organisation (WHO). Supporting internally-displaced people through sanitation infrastructure in tandem with the International Organisation for Migration (IOM) is another element of the support. It also aims to build a stronger public-private partnership through the repurposing of small and medium enterprises to improve the domestically produced PPE supply. Africa CDC will use its funds to build up its response capacity for COVID-19 for the whole continent.


Radar

Federal Prosecutors Accuse Public Officials, Contractors of Corruption, Alleged Illicit Fund Transfers

Federal prosecutors have filed corruption and money laundering charges against 11 defendants, including Nigstu Bogale, Coordinator of the Development Project for Response to the Impact of Refugees in the Horn of Africa at the Ministry of Agriculture, Biniyam Fantaye and Taye Habte, senior irrigation engineers involved in the Development Response to Displacement Impacts Project (DRDIP-II), as well as private individuals and construction company representatives. The case alleges losses and illicit...


Radar

EIH Transitions to New Headquarters as It Oversees Major State-Owned Enterprises

Ethiopian Investment Holdings (EIH) is relocating its headquarters from its current site on General Wingate Street. The former headquarters was located behind the Ministry of Industry and near Abrehot Library. The new office is expected to be on Mozambique Street, along the route from Mexico Square to Bulgaria Road. The building belongs to one of EIH's subsidiaries, and all departments are set to move there as interior design and finishing works continue. Under the leadership of Brook Taye...


Radar

Import Substitution Push Lifts Domestic Manufacturing, Industrial Recovery

A push for import substitution and industrial expansion has prioritised 96 strategic products for local manufacturing. The “Ethiopia Tamirt” initiative reports 4.85 billion dollars in savings, supported by trade fairs linking local producers to domestic and international markets. On average, 700 new projects enter the market annually, contributing to more than 2,800 investments over four years. At the grassroots level, 18,000 SMEs have been established, while 993 dormant factories have...