Somali Launches 51m Br Irrigation Schemes Amid Drought

Apr 9 , 2022


Irrigation schemes built at a cost of over 50 million Br have gone operational in the Somali Regional State. Officials say the irrigation facilities in the Libon Zone have the capacity of irrigating 260ht of land and benefiting over 1,000 households. The development comes as the region grapples with what the UN called "the worst drought in four decades." Millions of people have been affected in Somali and parts of the Oromia and Southern regional states. Last week, the International Rescue Committee (IRC) warned that gaps in funding could leave 25 million people in Ethiopia, Somalia and Kenya at risk of "extreme hunger" due to the drought. Last month, Mustafe M. Omer, president of the Somali Regional State, said the drought in the region has been successfully averted from becoming a famine.


Radar

Capital Market Authority Extends Public Company Registration Deadline, Warns Against Unlicensed Investment Bank

Ethiopian Capital Market Authority (ECMA) has granted a final one-month extension for publicly held companies to register, setting the new deadline for April 9, 2025. The extension applies specifically to companies with over 50 shareholders, who are required to submit comprehensive documentation across all industries. Mandatory details include the total number of shareholders, the total number of shares issued, fully paid shares, subscribed shares, and the value of shares on the reporting dat...


Radar

State Corps Post Growth Eyeing Innovation, Market Expansion

The Ethiopian Insurance Corporation (EIC) generated 9.34 billion Br in written gross premiums, marking a considerable 51.7pc increase compared to the same period last year. The Corporation's profit reached 1.2 billion Br, exceeding its planned target by 15pc and increasing by 62.7pc from last year's corresponding period. Executives of Ethiopian Investment Holdings (EIH), Ethiopia's sovereign fund that owns state enterprises, commended EIC for its achievements and provided strategic guidance t...


Radar

Ethiopian Airlines, AfDB Forge Partnership for Bishoftu International Airport Project

The Ethiopian Airlines Group has signed a letter of intent with the African Development Bank (AfDB) to launch a partnership for the ambitious Bishoftu International Airport Project. Mesfin Tasew, CEO of Ethiopian Airlines, and Nnenna Nwabufo, vice president of Regional Development, Integration & Strategy at AfDB signed the agreement. The two officials expressed their intent to consolidate the existing partnership through strategic and innovative engagements to benefit Ethiopia and the wid...