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



World Bank Nods to $180m Refugee Welfare Project Extension


World Bank Nods to $180m Refugee Welfare Project Extension

The World Bank has approved 180 million dollars in financing for the expansion of a welfare programme designed to bring refugees back to the workforce while in host countries. The "development response to displacement impacts" programme was launched five years ago with 100 million dollars in loans secured from the Bretton Woods institution. The federal government requested additional financing a year before the project's first phase was scheduled to come to a close last December. Officials said the extension was necessary to complete unfinished works in two weredas of the Somali Regional State, which had been interrupted due to security concerns. The additional funding may enable project managers to continue work in Tigray Regional State, which hosted five large refugee camps and where the programme was frozen following the outbreak of armed conflict in November 2020. They are part of the 27 camps hosting 845,000 refugees and asylum seekers in Ethiopia. Officials hope to see the second phase, which will run for five years beginning this month, reaching 2.5 million people, and around a quarter will come from refugees.

[ssba-buttons]

Radar

MIDROC Picks Austrian Firm for Metekel Plant Machinery

MIDROC Gold Mining has contracted Austria-based CEMTEC (Cement & Mining Technology GmbH) to supply and install equipment for a new gold processing plant in Metekel Zone, Benishangul-Gumuz Regional State. Designed to process up to 1.25 million tn of gold-bearing ore a year, the facility is part of MIDROC's expansion in the area. Under the agreement, CEMTEC will manufacture the plant's key processing machinery and install it at the MIDROC Metekel Gold Plant. The equipment is scheduled for c...


Radar

Food Prices Push Inflation to 15.3pc

Ethiopia's inflation rate rose to 15.3pc in July 2026 from 13.7pc in the same month last year, reaching its highest level in the 13-month period covered by Ethiopian Statistics Service data. Food and non-alcoholic beverages exerted the greatest pressure on consumer prices, with inflation reaching 15.7pc. The increase was driven largely by higher prices for vegetables, meat, dairy products and eggs, fruit, oil and butter, sugar, honey and chocolate, bread and injera. Sugar, honey and chocol...


Radar

State Enterprises Post Revenue Gains in EIH Review

Ethiopian Investment Holdings (EIH) concluded the fourth day of its 2025/26 EFY Annual Performance Dialogue at its headquarters, reviewing key state-owned enterprises overseen by Deputy CEO Habtamu Hailemichael. The dialogue began on August 24, 2026, with the Development Bank of Ethiopia recording a 60pc increase in operating income to 15.9 billion Br. Despite structural and operational difficulties, Ethiopian Mineral Corporation reported year-on-year revenue growth of 48pc to 5.7 billion dol...