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Lack of Supplies May Force Tigray Humanitarian Operations to Shut Down: UN-OCHA

Jan 29 , 2022

The United Nations Office for the Coordination of Humanitarian Affairs (UN-OCHA) warns it it may be forced to cease its humanitarian operation in Tigray Regional State because supplies are running out. “Organisations have warned that operations could cease completely by the end of February,” said Jens Laerke, spokesperson for UN-OCHA. "Nutrition supplies for supplementary feeding and treatment of severe acute malnutrition have already run out.” The World Food Programme (WFP) says 13pc of children under the age of five, and half of all pregnant and breastfeeding women in the Regional State are malnourished. Aid groups have run out of fuel and have been forced to deliver assistance to malnourished civilians on foot, the UN said last week.

Radar

Electricity Bills Get the VAT Jolt

The new Value Added Tax (VAT) has begun implementation on electricity consumption and various service fees affecting customers who use more than 200 kilowatt hours of electricity per month. Based on a directive from the Ministry of Finance, the tax will be applied to the excess amount of electricity consumption above 200 kilowatt hours. The Ethiopian Electric Utility (EEU) began implementing the VAT on bills starting from November though both prepaid and postpaid customers will have to pay V...

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Radar

Gadaa Bank Expands Reach, Faces Lending Constraints

Gadaa Bank closed its first full fiscal year of operations with a net profit of 90.2 million Br. The 18-month-old Bank held its annual general assembly at Millenium Hall on Africa Avenue last week where the board announced that during the year, the Bank opened 15 branches and now has 85 operational branches. “Due to recently enacted policy measures on credit by NBE and unmet resource mobilization during the fiscal year, the Bank was unable to make loan disbursements,” stated Wolde...

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Radar

Oromia Bank's Branch Expansion Weighs on Profits

Oromia Bank reported a 47pc decline in net profit to take in 840.9 million Br for the past fiscal year. Interest income grew by 21pc to reach 7.19 billion Br while personnel expense grew by 36pc to hit 3.16 billion Br. The opening of 72 new branches, bringing the total to 575, led to a four percent growth of deposits to 56.4 billion Br. The profits are “unsatisfactory against our ambitious moves,” said Assefa Seme (PhD), board chairperson. “The deviation is primarily attributed to our aggr...

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