FORTUNE+ VIDEO SPONSORED CONTENTS ADVERTORIALS FORTUNE AUDIO Fortune Careers TRADE AFRICA Election 2026 New TIME REMAINING UNTIL ETHIOPIA’S NATIONAL ELECTION 0Days 0Hours 0Minutes 0Seconds



WFP Warns Drought, Conflict Threaten Severe Food Insecurity in Horn


WFP Warns Drought, Conflict Threaten Severe Food Insecurity in Horn

The World Food Programme (WFP) warns the Horn of Africa could face "unprecedented" levels of food insecurity in 2023. The UN agency says armed conflict, climate change, a crippling drought, and supply disruptions brought on by Russia's war in Ukraine bode ill for the region.  "The drought situation . . . is desperate and extraordinary," said David Beasley, executive director of the WFP, after a visit to the Somali Regional State last week. A statement released by the WFP last week says that over seven million people wake up hungry in southern and eastern Ethiopia every day due to what the UN called "the worst drought in four decades" brought on by three consecutive poor rainy seasons. Millions more face similar conditions in neighbouring Somalia and Kenya. The UN says its faces a 338 million dollar gap in financing needed to reach an estimated 9.4 million people in need of aid in the Tigray, Amhara and Afar regional states. The conflict in Ukraine has pushed global food prices to new highs and threatens food security in the developing world. Russia and Ukraine account for nearly a third of global wheat exports.

[ssba-buttons]

Radar

Annual U.S.–Ethiopia Real Estate Expo to Debut in July

Harvest Circle Inc., a U.S.-based organisation, will launch the first annual U.S.-Ethiopia Real Estate & Construction Expo in July 2026. The event will bring together Ethiopian and U.S. real estate developers, construction firms, banks, insurers, property managers, and investors to explore partnership, financing, and investment opportunities. Organisers say the platform seeks to promote private sector-led urban development, facilitate diaspora investment, and expand market access for Ethiop...


Radar

Addis Abeba Housing Bureau Warns Landlords against Illegal Rent Hikes, Threatens Legal Action

The Addis Abeba Housing Development and Administration Bureau has issued a warning to landlords attempting to impose unauthorised rent increases or carry out unlawful evictions as the residential leasing cycle nears its statutory June 30 deadline. The warning follows reports of landlords pressuring tenants to vacate properties under claims of personal use or sale, alongside demands for steep rent hikes, according to comments made to state media. Kidist W. Giorgis, Head of the Bureau, said...


Radar

Development Bank Turns Corner as Profit Hits Eight Billion Br

The Development Bank of Ethiopia (DBE) posted a gross profit of eight billion Br in the first nine months of the fiscal year while repaying 15.6 billion Br in outstanding debt. Total income reached 17.3 billion Br, exceeding its target by 12pc. Presenting its performance to the House of Peoples' Representatives Standing Committee for Government Development Organizations, the bank highlighted progress from ongoing reforms, including reducing its non-performing loan ratio to 13.4pc, below the Nati...