UNHCR to Finance Solar Farm Dev't

Nov 14 , 2020

The United Nations High Commission for Refugees (UNHCR) has put up a tender for independent power producers to build photovoltaic (solar power) plants ranging from 60kW to 500kW of capacity. The Agency is currently accepting proposals for the construction of ground-mounted solar projects from producers who will finance, build and operate the solar plants. The final project will have a combined capacity of 1.8MW, and sites are expected to be deployed in combination with storage or diesel power generators along with diesel back up. The selected independent power producers are going to be awarded a long-term power purchase agreement (PPA), backed by the UNHCR’s Green Fund. The Green Fund is an innovative financing scheme that permits the Agency to contract out clean energy generation as a service through multi-year PPAs or similar leasing arrangements with private sector independent power producers.


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

A financial education program targeting youth and Medium & Small Enterprises (MSMEs) was launched by the National Bank of Ethiopia (NBE) last week. It aims to equip interested trainees with personal and professional knowledge through experts from banks and microfinance institutions who will provide comprehensive training. The training modules, developed in collaboration with The First Consult and BRIDGE, cover several angles of financial literacy, including deposits, digital financial servic...


ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...