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UAE Announces $85m Aid to Bolster Humanitarian Operations

Mar 12 , 2022

The United Arab Emirates (UAE) announced last week it would be disbursing 85 million dollars in aid to support humanitarian operations in Ethiopia. The contribution will be disbursed to several agencies, including the World Food Programme (WFP), the International Committee of the Red Cross (ICRC), the United Nations Children’s Fund (UNICEF), and the United Nations High Commissioner for Refugees (UNHCR). Last week, the UAE delivered 50tn of humanitarian supplies to support internally displaced persons (IDPs) in Ethiopia. The donation, carried out through the Emirates Red Crescent, includes food, health supplies and children's food supplements. Millions have been displaced as a result of the armed conflict in the north and a severe drought in the south and east.

Radar

Digital Heights for Coop Bank, Profits Dip

The Cooperative Bank of Oromia (CBO) announced that a total transaction volume of 1.36 trillion Br was made through 489.5 million transactions on its digital platform, Coopay E-Birr. Fuel payment transactions alone reached 1.15 billion Br across 105,500 transactions. The platform added 8,959 agents, 32,840 merchants, and 3.85 million new subscribers in the year. However, at 2.51 billion Br, the Bank's gross profit before tax declined by 26pc from last year's 3.39 billion Br. Board Chai...

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Radar

AI-Powered, Sharia-compliant Digital Financing for MSMEs, Consumers Debuts

ZamZam Bank, in partnership with Kifiya Financial Technology, has launched a Sharia-compliant digital financing service, "Ansar Digital Financing". The service, which the Bank asserts is Ethiopia's first, aims to transform access to financial services for micro, small, and medium enterprises (MSMEs), particularly women and informal sector workers. The announcement was made during a formal launch event held at the Haile Grand Hotel last week. Melika Bedri, president of ZamZam Bank, stated that...

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Radar

Local, International Firms Cooperate to Bridge Skill Mismatch

In a bid to address the pervasive skill mismatch, Geez Education & Training Plc (GET) has allied with International financial and management institutions to bridge the gap. Three international institutions, the Global Academy of Finance & Management (GAFM), the American Academy of Project Management (AAPM), and California State University, Dominguez Hills (CSUDH), have entered into a cooperation with GET at an event held last week at Skylight Hotel. Officials believe the move will con...

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