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World Bank approves $300 mln to support Ethiopia’s conflict-affected communities
Spread the NewsThe World Bank has approved a $300 million International Development Association (IDA) grant to support the recovery of conflict-affected communities in Ethiopia. The grant will finance a Response-Recovery-Resilience for Conflict-Affected Communities in Ethiopia Project, which targets to reach out more than five million people. The project will support efforts to address the immediate…

Gov’t consults mitigating drought impacts in pastoralist areas
Spread the NewsGovernmental agencies along with pastoralists will consult on the ways to mitigate the impacts of drought in Afar and Somali regions as well as Borena zone in Oromia region. The consultation is expected to be conducted during the 18th edition of Pastoralists’ Day to be held in Adama on January 25. Roba Turchie,…

Hotel owners continue to reel from Covid-19 pandemic
Spread the NewsHotel owners have been bracing for difficult years as the sector continues to reel from a drop in bookings caused by the Covid-19 pandemic, according to Addis Abeba Hotel Owners Association. Hotels in Addis Abeba and regions are losing $35 million and $10 million respectively in a month due to the negative effects…

Goh Mortgage Bank S.C. to disburse 1 bln Birr loan in 2021/22
Spread the NewsGoh Mortgage Bank Share Company, the first mortgage financial firm, has planned to disburse a loan amounting 1 billion Birr in 2021/22 fiscal year. The bank has set a goal to collect 1.3 billion Birr saving in the fiscal year. Goh Mortgage Bank also sees opening 60 branches across Ethiopia in five years,…

Addis Chamber’s 16th annual general meeting underway
Spread the NewsThe 16th Annual General Meeting of Addis Abeba Chamber of Commerce and Sectorial Associations (AACCSA) is underway today at Inter Luxury Hotel. Annual performance reports of 2019/20, 2020/21 and 2021/22 have been presented by an independent auditor. The reports reviewed Auditor’s financial statements of the Chamber. At the end of the Annual General…

Derba Cement to build second plant
Spread the NewsBy Kaleyesus Bekele Derba Cement is going to build second cement manufacturing plant at a cost of 300 million dollars. The company has selected the Chinese construction company, Sinoma International Engineering to build the new line. CEO of Derba Cemenet Haile Assegidie and Han Xuefeng, Regional Marketing Director, Sinoma International Engineering, signed the…