Multi-Donor Project Funds Displaced Kids

Dec 7 , 2019

Education Cannot Wait (ECW), a global fund for education, announced a 27-million-dollar investment to support the delivery of education for more than 750,000 displaced people in Ethiopia. The funding, which was announced on December 5, 2019, will support the implementation of a new multi-year resilience programme developed by the Ministry of Education. The grant is designed to activate resource mobilisation efforts from donors, civil society organisations, the private sector and philanthropic foundations to fully fund the programme, which will cost an estimated 161 million dollars over three years. The programme will reach 380,000 boys and 365,000 girls, including 74,600 children with disabilities. To address the issue of high drop out rates of Ethiopian students in grade one, the programme focuses on early childhood education and providing improved educational opportunities for 213,000 pre-primary and 532,000 primary school-aged children. The programme will be led by the Ministry of Education in partnership with Save the Children International, UNICEF, Education Cannot Wait and the Education Cluster.


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

A financial education program targeting youth and Medium & Small Enterprises (MSMEs) was launched by the National Bank of Ethiopia (NBE) last week. It aims to equip interested trainees with personal and professional knowledge through experts from banks and microfinance institutions who will provide comprehensive training. The training modules, developed in collaboration with The First Consult and BRIDGE, cover several angles of financial literacy, including deposits, digital financial servic...


ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...