Officials Embark on EU Funded Maternal, Child Health Project

Feb 26 , 2022


The Ministry of Health has embarked on a three-year project aiming to improve maternal and child health with an outlay of 19.2 million euros sourced from the European Union (EU). To be implemented in 15 weredas across four regional states - Afar, Benishangul-Gumuz, Somali, and Gambella - the project targets solutions to healthcare constraints brought on by gender inequality. It also focuses on nutrition, family planning, reproductive health and hygiene. Officials from the Ministry disclosed the project is eligible for extension and additional funding following a review of its effectiveness. In the past two decades, Ethiopia has reduced maternal and child mortality by half, but a maternal mortality rate of 412 per 100,000 live births and child mortality rate of 67 per 1,000 are still among the highest in the world, according to data obtained from USAID.


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...


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...


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...