Parliament Declares National Mourning for Landslide Victims in Gofa Zone

Jul 28 , 2024


[ssba-buttons]

Parliament has declared a three-day national mourning period to honour the memory of hundreds who lost their lives in a catastrophic landslide in Gofa Zone, Southern Ethiopia Regional State. The tragedy, which struck on July 24, 2024, was the result of intense rain showers in the Gezi Gofa wereda, claiming nearly 257 lives, according to aid agencies. The Ethiopian Red Cross Society, alongside volunteers and emergency workers, continues their search and rescue efforts two days after the disaster. Armed with shovels and their bare hands, they are arduously digging through mud in a desperate attempt to locate survivors. A report from the United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA) has warned that the death toll may rise, potentially reaching up to 500. The landslide has displaced over 125 residents, and a dozen severely injured individuals have been transferred to Sawla Hospital for urgent medical care. The humanitarian situation in the region remains critical. The UNOCHA report unveils the vulnerability of 1,320 children under five years of age and nearly 5,293 women, who are at high risk due to the ongoing threat of further landslides. This disaster struck just three weeks after the Ethiopian Meteorological Institute issued a warning about the likelihood of heavy rainfall, floods, and landslides affecting Addis Abeba and several regions in the west, north, centre, and northeast of the country.


Radar

Central Bank, Global Alliance Partner to Enhance Sustainable

The National Bank of Ethiopia (NBE) recently hosted a high-level meeting with representatives from the Global Alliance for Banking on Values (GABV) and selected member banks in anticipation of the 17th GABV Annual Meeting scheduled in Uganda. The meeting convened commercial bank representatives from Ethiopia, alongside a delegation comprising six GABV members, including Centenary Bank and Opportunity Bank Uganda, Amalgamated Bank, Sunrise Banks, City First Bank, and Merkur Cooperative Bank. G...


Radar

Commercial Bank of Ethiopia Adjusts Loan Interest Rates Amid Market Reforms

Commercial Bank of Ethiopia (CBE) has announced adjustments to its loan interest rates, effective March 7, 2025. Bank executives cited rising deposit mobilisation costs and the need to align with market standards as key factors influencing the decision, despite successful internal reforms that have reduced operational expenses. Executives noted that these adjustments are crucial for maintaining its competitive edge and ensuring the continued delivery of efficient services to its clientele. ...


Radar

Chemical Corp Posts Substantial Revenue, Profit Growth in 1Q

The state-owned Chemical Industry Corporation recorded a revenue of 2.53 billion Br in the first half of the 2024/2025 financial year. The Corporation reported a profit before tax of over half a billion Birr, which marks a considerable 182.6pc increase compared to the same period last year. Company officials attributed the growth result to enhanced market reach, effective cost-cutting measures, and optimisation of plant capacity utilisation. Year-on-year revenue growth was noted across variou...