WB, Gov't Join Hands for Urban Dev't Programme

Feb 8 , 2020

Ethiopia has started conducting the third phase of the Urban Institutional & Infrastructure Development Programme that targets 117 urban areas at a cost of 859 million dollars. The consultancy programme was implemented in 19 urban areas in the first phase and 44 urban areas in the second, according to the Ministry of Urban Development & Construction. The programme, which began 11 months ago under the aegis of the World Bank and the government, created more than 800,000 jobs for the youth. The aim of the operation is to alleviate the performance of the urban local governments to expand and maintain urban infrastructure, services, and local economic development. The first phase was launched in 2008 with 300 million dollars in funding from the World Bank and 116 million dollars from the government. The second phase commenced in 2014 with the World Bank funding 380 million dollars and the government contributing 176.6 million dollars.


Ethiopia's Central Bank Dips a Toe in the Open Market Waters

In a historic move to manage liquidity within the banking system, the National Bank of Ethiopia (NBE) held its first-ever open market operation (OMO) on July 11, 2024. The auction drew notable interest from the financial sector, with 16 bidders submitting nearly 20 billion Br. The central bank accepted the total amount of bids, reflecting the banking industry's robust engagement with this new monetary policy tool. The NBE's foray into OMOs is seen as a strategic measure to control the mone...


CBE Shatters Profit Record at 25.6B BR

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Ethio telecom Dominates Industry with Expanding Profits, Coverage

The state-owned teleco company netted 21.7 billion Br in the financial year, posting a 21.7pc jump in revenues to 93.7 billion Br from last financial year. While it has not enjoyed a monopoly since the entrance of Safaricom Ethiopia three years ago, its annual revenues have taken a leap with the competition. The centenarian operator increased its customer base by 8.9pc to reach 78.3 million, with an 85.4pc geographical coverage. Its nearly three-year-old mobile money service, Telebirr, is use...