Red Cross Relief Convoy Arrives in Meqelle

Dec 12 , 2020


[ssba-buttons]

The International Committee of the Red Cross has delivered a convoy containing medical supplies and other necessary aid items to Meqelle, capital of Tigray Regional State. The convoy of seven trucks is the first batch of international aid to arrive in Meqelle since the armed conflict erupted in the region over a month ago. It will supply Ayder Hospital, the main referral hospital in the city, with medicines and supplies for the treatment of trauma patients as well as for the continuation of practices such as dialysis, maternity and delivery services. The convoy also contains relief supplies for families that have been displaced by the conflict. The international organisation will be donating medical supplies to the regional health bureau and the Ethiopian Red Cross Society pharmacy in Meqelle, in addition to providing fuel to Ayder Hospital to run its generator. Similarly, the Ministry of Health announced the delivery of medical supplies to health facilities in Meqelle.


Radar

Dangote, EIH Break Ground on Mega Fertilizer Plant in Somali Region

Ethiopian Investment Holdings (EIH), the state's sovereign investment arm, has struck a deal with Dangote Group to build one of the world's largest urea fertiliser complexes in Gode, Somali Regional State. The 2.5 billion dollars project will see EIH hold a 40pc stake while Dangote keeps 60pc. With agriculture employing over 70pc of Ethiopians, the government hopes the factory will cut fertiliser costs, create jobs, and boost crop yields while positioning the country as a regional hub. Design...


Radar

CBE Capital Joins Nib Bank for Market Expansion

Nib International Bank has partnered with CBE Capital, the investment arm of the Commercial Bank of Ethiopia (CBE), to expand investment banking services and shore up its finances. The deal covers advisory services, seeking to strengthen Nib's balance sheet, attracting capital, and positioning the bank in a modernising financial sector. The partnership follows a difficult year for Nib, where net profit dropped 36pc to 957.9 million Br and deposits shrank, despite paid-up capital climbing to ...


Radar

Credit Cap Nears Lift-Off

The National Bank of Ethiopia (NBE) is preparing to lift its long-standing credit cap by September, unlocking 1.3 trillion Br in bank lending. The move, flagged by board member and State Minister of Finance Eyob Tekalegn (PhD), follows years of complaints from businesses that borrowing limits choked large-scale projects. Eyob told a local radio station the reform reflects rising investor appetite and improved economic conditions, though he admitted "financing has been the biggest bottleneck for...