Millions Under Severe Hunger Risk


Tens of millions in Ethiopia will face acute food shortages in three months if sufficient aid fails to arrive in time, warns a survey conducted by the Food & Agriculture Organisation (FAO). Over 2.1 billion dollars is needed to address agricultural, nutritional and food insecurities that could put the lives of more than 20 million people in a precarious situation. USAID pledged 1.2 billion dollars three months ago in aid to respond to food insecurity in the Horn of Africa, following the survey's release that 32 million people across Ethiopia, Somalia, and Kenya face severe hunger. FAO urged prioritising drought and conflict-affected populations through life-sustaining food and nutrition assistance. The survey found close to 13 million people in Northern Ethiopia are in desperate need of emergency food assistance, showing 18pc increase from last year. Recurrent drought, depleting foreign exchange reserves, resumption of the war, periodic fuel shortages, and a sharp currency depreciation due to the parallel market exacerbated the economic outlook for the country.


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Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


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Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


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Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


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