Norway Commits $11m for Youth

Nov 27 , 2018


[ssba-buttons]

The Royal Norwegian Embassy pledged 11 million dollars for the third phase of a joint program to support vulnerable young people. The program focuses on youth development and participation. The third phase will see tailored and evidence-based intervention programs rolled out across 20 weredas of seven regional states including Afar, Amhara, Gambella and Oromia. This joint program, implemented in cooperation with UNICEF and UNFPA, benefits 200,000 young people, including commercial sex workers, HIV positive individuals and seasonal workers. “The government is working hard toward changing the lives and situation of Ethiopian youth by putting in place a policy, legal and institutional framework,” said Hiwot Hailu, state minister of Women, Children & Youth, at the signing ceremony. The first phase was launched in 2008, and since then 31 million dollars has been put into the project.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...