USAID Extends $60m to Youth Empowerment Programme

Mar 5 , 2022


[ssba-buttons]

The United States Agency for International Development (USAID) has allocated 60 million dollars in funding to a social welfare programme slated to be implemented in 18 cities across Ethiopia. The five-year programme, dubbed "Kefeta", targets to address unemployment and other issues plaguing vulnerable youth in the urban centres, including Addis Abeba. The programme involves the facilitation of access to services like banking, family planning, and healthcare. Officials in charge also plan to establish a youth-led fund to finance startups and encourage entrepreneurship. The programme hopes to reach some 700,000 youth for training in skills such as digital literacy and entrepreneurship by supporting career centres in social and educational institutions. The Kefeta programme was launched last week at a ceremony held at Addis Abeba's Friendship Park. Tracey Jacobson, US ambassador to Ethiopia, and senior government officials such as Ergoge Tesfaye (PhD), minister of Women & Social Affairs, were in attendance.


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...