Water Project Takes Root in Oromia

Jul 13 , 2019

Amref Health Africa and West Arsi Zone Water, Mining & Energy Office and Siraro-Aje Water Supply Service signed a memorandum of understanding (MoU) for a new water project that will supply potable water to nearly 60,000 people in Shashamane and Arsi Negele Zone. Signed on July 9, 2019, the project would cost 23 million Br out of which 10 million Br will be covered by the local government and communities, while Amref will cover the balance. Amref pledged to design and install a sustainable system for safe drinking water for the communities, schools and health facilities in the area. Over half a million people are without access to safe drinking water in Arsi Negele Zone.


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...