EU Launches Internally Displaced Rehabilitation Project


EU Launches Internally Displaced Rehabilitation Project

A 43.5 million euro three-year program targeting Internally Displaced People  (IDP) was launched by the European Union and partners across Afar, Amhara, Beninshangul-Gumuz and Tigray regional states last week. The project seeks to provide vocational training in agriculture and improve access to finance and employment. It is also expected to provide sanitation services to areas with the highest concentration of IDPS and conflict through new infrastructure and rehabilitation of old ones. Coordinated by the International Organization for Migration (IOM) partnering with GIZ, the Italian Agency for Development Cooperation (AICS), the Danish and Ethiopian Red Cross and the High Commission for Refugees for the IDPs. Prolonged internal conflicts and industrial disasters have taken a toll on the country's economy and exacerbated food insecurity in many parts of the country, the statement from the European Union reads. Roland Kobia, ambassador of the European Union to Ethiopia, indicated that the program is a timely action to ensure humanitarian support and help facilitate peace. It includes setting up community centres for youth empowerment by promoting community dialogues and services for psychosocial needs. There are more than four million IDPs in Ethiopia due to conflict and close to one million refugees from neighbouring countries, according to the latest Global Humanitarian Review report by the UN.

[ssba-buttons]

Radar

EthSwitch Sees Record Profit, Expands Digital Payment Reach

EthSwitch, the national switch operator, reported a record 1.4 billion Br gross profit for the fiscal year ending June 2025, a 34pc increase from last year's 1.06 billion Br. The performance was driven by a sharp rise in interoperable transactions, reflecting the country's growing embrace of digital payments. Person-to-person (P2P) transfers led revenue generation with 902.6 million Br, nearly half of total income, followed by ATM transactions contributing 825.1 million Br. Overall revenue cl...


Radar

Lion Bank Delivers Robust Results, Rewarding Shareholders

Lion International Bank S.C. posted a profit before tax of 1.8 billion Br for the last fiscal year, marking a 94pc surge from the previous year. The announcement was made during the bank's General Assembly held last week at the Sheraton Addis Hotel. After provisions and taxes, the bank registered a net profit exceeding 900 million Br, with shareholders earning 27pc per share. Deposits climbed by 23pc to 44 billion Br, up from 35.6 billion Br, while total loans and advances reached 36.2 billio...


Radar

Berhan Bank Lifts Earnings as Reforms Ease Forex Strain

Berhan Bank reported a 28.1pc growth in its latest fiscal year, buoyed by economic reforms and relaxed forex directives. The Bank's total deposits climbed to 44.5 billion Br by June 30, 2025, up 7.6 billion Br from the previous year. Net profit distributed to shareholders rose by 36pc, while total income reached 10.3 billion Br, marking a 61.4pc increase. Interest income accounted for nearly 59pc of total earnings, driven largely by the repeal of the National Bank's 70pc forex surrender rule...