WHO Warns of Drought-Induced Health Crisis

Aug 6 , 2022

The World Health Organization (WHO) warns of looming acute hunger in the Horn of Africa. The agency estimates that over 37 million people in the region are experiencing one of the worst famines recorded over the last 70 years. Countries affected include Somalia, Sudan, Djibouti, South Sudan, Uganda, Ethiopia, and Kenya. Approximately seven million children under the age of five are acutely malnourished in the region. The WHO is appealing for 123.7 million dollars in funding to respond to rising health needs and prevent a food crisis from turning into a health crisis. Last month, the United Nations Children's Fund (UNICEF) warned the drought in Ethiopia's east and south could turn into a full-blown famine without immediate action. The agency says it is facing difficulties in sourcing financing and aid to back its humanitarian operations in the drought-stricken regions. It reports that severe acute malnutrition has risen sharply in these areas. There has been a 47pc increase in the Somali Regional State, according to UNICEF.


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...