US in Forefront for Productive Safety Net Investments

Apr 3 , 2021


[ssba-buttons]

Early last week, the fifth phase of the Productive Safety Net Programme (PSNP) was launched in the presence of representatives of the federal government and officers from the United States Agency for International Development (USAID). The PSNP is a food security, public works and social safety net programme for millions in need across Ethiopia. Backed by 2.2 billion dollars in funding, the fifth phase is expected to last five years and reach up to nine million people each year. As the largest donor, USAID’s contribution accounts for over 550 million dollars. Established two years after the largest famine the country has ever seen in 2005, the previous four phases have witnessed investments of 5.3 billion dollars. The highest amount, 2.6 billion dollars, was spent last year. The United States has supported the programme with the highest spending of over four billion dollars in the last five years.


Radar

Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...


Radar

NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...


Radar

Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...