economy

446 manufacturing industries in Ethiopia stopped production – etbaba.com

Because of the shortage of finance, infrastructure, and absence of coordinated support from the government, 446 manufacturing industries in Ethiopia have stopped production. This is indicated by the Minister of Industry of Ethiopia Melaku Alebel, who briefed reporters today.In addition, lack of skilled manpower is also identified by the Ministry as among the major challenges …

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Venture Capital education attracts hundreds of Africans – etbaba.com

Dream Venture Capital (Dream VC) latest training on venture capital for Africans has attracted hundreds of applicants from more than 20 countries, the company says. “Since opening applications in early March, Dream VC have already had several hundred valid applications already, with applicants from over 20+ different African countries including Nigeria, Kenya, South Africa, Rwanda, …

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Eid-to-Eid Great Ethiopian Homecoming takes place – etbaba.com

The official opening ceremony of the Eid-to-Eid Great Ethiopian Homecoming is underway in Addis Ababa, Ethiopia, at Friendship park in the presence of leaders of high-level government and religious institutions. In delivering opening remarks, Deputy Prime Minister and Foreign Minister Demeke Mekonnen thanked the Ethiopian Diaspora for positively responding to the national call. He underscored …

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Authority approves BGI Ethiopia’s Meta Brewery acquisition – etbaba.com

Trade Competition and Consumer Protection Authority (TCCPA) of Ethiopia has given green light to BGI Ethiopia to proceed with the acquisition of Meta Abo brewery from Diageo. This is indicated this week by the management of BGI Ethiopia. “I feel honored to be part of this momentous occasion. On behalf of the Castel Group and …

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Ethiopia reports 34.7 inflation in March 2022 – etbaba.com

In March 2022, the year-on-year general inflation rate in Ethiopia increased to 34.7 percent, after reaching 33.6 percent in the previous month. “The month-on-month food inflation rate for March 2022 increased by 1.5 percentage point compared to the preceding month of February 2022. During a similar period, the non-food inflation rate decreased by 0.6 percent,” …

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World Bank approves $300 million grant to Ethiopia – etbaba.com

To help Ethiopia address these challenges, the World Bank has approved a $300 million International Development Association (IDA) grant for the Response-Recovery-Resilience for Conflict-Affected Communities in Ethiopia Project. The project will support efforts to address the immediate needs of communities, rehabilitate/recover infrastructure destroyed by conflict, and increase community resilience to the impacts of conflict in …

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Debt financing makes difficult Africa’s recovery from COVID-19 – etbaba.com

The crippling cost of debt financing for many developing countries has hamstrung their recovery from the COVID-19 pandemic, forced cutbacks in development spending, and constrained their ability to respond to further shocks, according to a new report launched by the United Nations today. The 2022 Financing for Sustainable Development Report: Bridging the Finance Divide finds …

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African Development Bank, African Union signed capacity building deal – etbaba.com

African Union Commission and African Development Bank on Monday signed the protocol of agreement for the African Union Institutional Capacity Building Project in Addis Ababa, Ethiopia. The agreement is signed by Monique Nsanzabaganwa, Deputy Chairperson of the African Union Commission, and Yacine Fal, the African Development Bank Group’s Acting Vice President for Regional Development, Integration …

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Accra set to host next African Development Bank annual meeting – etbaba.com

Ghana is set to host the African Development Bank Group’s 2022 Annual Meetings from 23-27 May in its capital, Accra, AfDB said. This year’s meetings mark a return to in-person sessions following virtual meetings over the last two years. They will be held in a hybrid format with participants present in Accra and online. The …

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Africa progresses in addressing gender discriminatory law – etbaba.com

Benin, Djibouti, Somalia, Zimbabwe and Liberia show the countries have successfully put national policies in place to advance gender equality, according to a new report by African Development Bank. The report also stated that the Covid-19 pandemic has sharpened the challenges women face. Prepared in collaboration with the countries and the international partner, UN Women, …

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