#Awash River #flooding displaces thousands in West and Southwest Shewa
Flooding caused by the overflow of the Awash River has displaced thousands of people across West and Southwest Shewa zones, destroying crops, killing livestock, and leaving displaced residents in urgent need of aid.
In Ilu district, Southwest Shewa Zone, a 25-year-old man, Gerasu Lata, died after being swept away while attempting to retrieve household items from his flooded village. His body was recovered the following day and buried at Medhanialem Orthodox Church in Taji.
Local media reported that the flooding has also spread to West Shewa Zone, displacing more than 1,700 households in Ejere, Ejersa Lafoo, and Walmera districts. The Southwest Shewa Zone Agriculture Office said a task force has been formed to assess the damage and will release its findings soon.
https://addisstandard.com/?p=51807
Flooding caused by the overflow of the Awash River has displaced thousands of people across West and Southwest Shewa zones, destroying crops, killing livestock, and leaving displaced residents in urgent need of aid.
In Ilu district, Southwest Shewa Zone, a 25-year-old man, Gerasu Lata, died after being swept away while attempting to retrieve household items from his flooded village. His body was recovered the following day and buried at Medhanialem Orthodox Church in Taji.
Local media reported that the flooding has also spread to West Shewa Zone, displacing more than 1,700 households in Ejere, Ejersa Lafoo, and Walmera districts. The Southwest Shewa Zone Agriculture Office said a task force has been formed to assess the damage and will release its findings soon.
https://addisstandard.com/?p=51807
❤2
#Somalia: #Ugandan #AU forces suffer heavy losses in battle to retake Barire from al- Shabaab
Ugandan troops serving under the African Union (AU) mission in Somalia suffered significant casualties during an operation to recapture the strategic town of Barire from al- Shabaab militants, security sources said on Friday.
At least 17 soldiers from the Uganda People's Defence Forces (UPDF) were killed in the offensive, including six who died earlier this week following a suicide car bomb (VBIED) attack. Despite the losses, AU forces regained full control of Barire in a major blow to the al-Qaeda-linked group.
Barire, which lies about 50 km southwest of the capital, Mogadishu, had been under al- Shabaab control for months. Its capture comes just weeks after the group seized Mahas town in the Hiran region, the third town to fall into their hands since April 2025…
https://garoweonline.com/en/news/somalia/ugandan-au-forces-suffer-heavy-losses-in-battle-to-retake-barire-from-al-shabaab
Ugandan troops serving under the African Union (AU) mission in Somalia suffered significant casualties during an operation to recapture the strategic town of Barire from al- Shabaab militants, security sources said on Friday.
At least 17 soldiers from the Uganda People's Defence Forces (UPDF) were killed in the offensive, including six who died earlier this week following a suicide car bomb (VBIED) attack. Despite the losses, AU forces regained full control of Barire in a major blow to the al-Qaeda-linked group.
Barire, which lies about 50 km southwest of the capital, Mogadishu, had been under al- Shabaab control for months. Its capture comes just weeks after the group seized Mahas town in the Hiran region, the third town to fall into their hands since April 2025…
https://garoweonline.com/en/news/somalia/ugandan-au-forces-suffer-heavy-losses-in-battle-to-retake-barire-from-al-shabaab
❤6
More and more #Ethiopians are risking their lives at sea in attempts to reach #Yemen
On August 3, at least 90 migrants died when their boat sank in the Gulf of Aden. All of them hailed from Ethiopia's Tigray region, which has been plagued by ongoing political instability after two years of civil war.
Sinkings along this route, one of the "one of the world's most dangerous migration corridors," according to the IOM, are not uncommon. In March, four migrant boats sank in the area, resulting in a grim toll of 180 missing individuals. Moreover, these figures do not include other damage they can suffer at sea: On Wednesday, at least seven Ethiopians died from thirst and hunger, and several others went missing after a boat traveling from Somalia to Yemen broke down in the open sea.
Every year, tens of thousands of Ethiopian, Somalian and Eritrean nationals seeking to reach the wealthy Gulf states try to cross over to Yemen. In its March report, the IOM recorded more than 446,000 movements (which refer to any identified travel along this route, meaning that an individual can be counted twice, both when departing and when returning) on this axis in 2024, a 13% increase over the previous year.
The vast majority of migrants taking this route were from Ethiopia. In 2024, they accounted for 96% of those identified by the IOM. From Ethiopia, migrants travel to one of three main departure points on the coast: one in Hargeisa, the capital of Somaliland; another in Djibouti; and a third in Puntland, an autonomous region of Somalia. They then attempt to cross the sea and head to Yemen.
https://www.lemonde.fr/en/le-monde-africa/article/2025/08/11/more-and-more-ethiopians-are-risking-their-lives-at-sea-in-attempts-to-reach-yemen_6744250_124.html
On August 3, at least 90 migrants died when their boat sank in the Gulf of Aden. All of them hailed from Ethiopia's Tigray region, which has been plagued by ongoing political instability after two years of civil war.
Sinkings along this route, one of the "one of the world's most dangerous migration corridors," according to the IOM, are not uncommon. In March, four migrant boats sank in the area, resulting in a grim toll of 180 missing individuals. Moreover, these figures do not include other damage they can suffer at sea: On Wednesday, at least seven Ethiopians died from thirst and hunger, and several others went missing after a boat traveling from Somalia to Yemen broke down in the open sea.
Every year, tens of thousands of Ethiopian, Somalian and Eritrean nationals seeking to reach the wealthy Gulf states try to cross over to Yemen. In its March report, the IOM recorded more than 446,000 movements (which refer to any identified travel along this route, meaning that an individual can be counted twice, both when departing and when returning) on this axis in 2024, a 13% increase over the previous year.
The vast majority of migrants taking this route were from Ethiopia. In 2024, they accounted for 96% of those identified by the IOM. From Ethiopia, migrants travel to one of three main departure points on the coast: one in Hargeisa, the capital of Somaliland; another in Djibouti; and a third in Puntland, an autonomous region of Somalia. They then attempt to cross the sea and head to Yemen.
https://www.lemonde.fr/en/le-monde-africa/article/2025/08/11/more-and-more-ethiopians-are-risking-their-lives-at-sea-in-attempts-to-reach-yemen_6744250_124.html
Le Monde.fr
More and more Ethiopians are risking their lives at sea in attempts to reach Yemen
On August 3, at least 90 migrants died when their boat sank in the Gulf of Aden. All of them hailed from Ethiopia's Tigray region, which has been plagued by ongoing political instability after two years of civil war.
❤2
#Ethiopia freezes new power permits for #Crypto Miners amid grid constraints
Ethiopia is halting new electric power permits for data mining companies, effectively freezing the expansion of crypto-mining operations due to limited capacity.
The decision follows a surge in interest, with 25 bitcoin mining firms already operating and nearly 20 more awaiting approval, drawn by Ethiopia’s cheap tariffs and abundant hydropower. EEP had marketed power sales to miners—paid in foreign currency—as a way to monetize excess energy, but experts warn actual consumption may be higher than reported, potentially affecting local access.
Crypto miners were major contributors to Ethiopia’s $338 million in power export revenue last year, a 141% increase. Despite operating 20 power stations and exporting electricity to neighbors like Kenya and Djibouti, only about half of Ethiopians are connected to the grid.
https://news.bitcoin.com/ethiopia-freezes-new-power-permits-for-crypto-miners-amid-grid-constraints/
Ethiopia is halting new electric power permits for data mining companies, effectively freezing the expansion of crypto-mining operations due to limited capacity.
The decision follows a surge in interest, with 25 bitcoin mining firms already operating and nearly 20 more awaiting approval, drawn by Ethiopia’s cheap tariffs and abundant hydropower. EEP had marketed power sales to miners—paid in foreign currency—as a way to monetize excess energy, but experts warn actual consumption may be higher than reported, potentially affecting local access.
Crypto miners were major contributors to Ethiopia’s $338 million in power export revenue last year, a 141% increase. Despite operating 20 power stations and exporting electricity to neighbors like Kenya and Djibouti, only about half of Ethiopians are connected to the grid.
https://news.bitcoin.com/ethiopia-freezes-new-power-permits-for-crypto-miners-amid-grid-constraints/
Gidib River bridge on Debre #Markos–#Bahir_Dar road washed away by #floods, disrupting traffic
The Ethiopian Roads Administration (ERA) said urgent work is underway to reinstate the Gidib River bridge, which was swept away by flash floods over the weekend, halting traffic along the busy Debre Markos–Bahir Dar road.
In a statement posted on its social media page, ERA said the bridge, which had served for many years, was rendered completely out of service after heavy flooding triggered by intense rainfall in the Chokie area on the night of 09 August 2025.
The authority said it is working to install a temporary bridge to restore the route in the short term, while plans to permanently rebuild the original structure are underway.
ERA called on road users to remain patient and extend their usual cooperation until the bridge is reconstructed and reopened to traffic.
The Ethiopian Roads Administration (ERA) said urgent work is underway to reinstate the Gidib River bridge, which was swept away by flash floods over the weekend, halting traffic along the busy Debre Markos–Bahir Dar road.
In a statement posted on its social media page, ERA said the bridge, which had served for many years, was rendered completely out of service after heavy flooding triggered by intense rainfall in the Chokie area on the night of 09 August 2025.
The authority said it is working to install a temporary bridge to restore the route in the short term, while plans to permanently rebuild the original structure are underway.
ERA called on road users to remain patient and extend their usual cooperation until the bridge is reconstructed and reopened to traffic.
❤1
#Somaliland President reverses planned internet price hike, averts mass protests
Somaliland President Abdirahman Mohamed Abdillahi Cirro has overturned a decision by telecom giants Telesom and Somtel to double internet service prices, a move that had sparked public outrage and prompted plans for large-scale protests on Sunday.
“As the President of the Republic of Somaliland, I inform my people that the Government and the telecommunications companies in the country have agreed to suspend the recent decision to increase the price of internet services and mobile phone calls,” Cirro announced in a statement posted on Facebook. “The prices of services will remain the same until further notice, and the Government will urgently hold discussions with the companies.”
Somtel was the first to comply, releasing a statement saying: “We, as a public company, have accepted the suspension.”
The reversal drew widespread praise for both President Cirro and lawyer Guuleed Dafac, who had helped mobilize public opposition.
The decision comes just two days after Somalia officially joined the list of African countries with access to Starlink’s high-speed satellite internet. Starlink, developed by Elon Musk’s SpaceX, went live nationwide on Monday after regulatory approval in April.
https://www.hiiraan.com/news4/2025/Aug/202522/somaliland_president_reverses_planned_internet_price_hike_averts_mass_protests.aspx
Somaliland President Abdirahman Mohamed Abdillahi Cirro has overturned a decision by telecom giants Telesom and Somtel to double internet service prices, a move that had sparked public outrage and prompted plans for large-scale protests on Sunday.
“As the President of the Republic of Somaliland, I inform my people that the Government and the telecommunications companies in the country have agreed to suspend the recent decision to increase the price of internet services and mobile phone calls,” Cirro announced in a statement posted on Facebook. “The prices of services will remain the same until further notice, and the Government will urgently hold discussions with the companies.”
Somtel was the first to comply, releasing a statement saying: “We, as a public company, have accepted the suspension.”
The reversal drew widespread praise for both President Cirro and lawyer Guuleed Dafac, who had helped mobilize public opposition.
The decision comes just two days after Somalia officially joined the list of African countries with access to Starlink’s high-speed satellite internet. Starlink, developed by Elon Musk’s SpaceX, went live nationwide on Monday after regulatory approval in April.
https://www.hiiraan.com/news4/2025/Aug/202522/somaliland_president_reverses_planned_internet_price_hike_averts_mass_protests.aspx
Hiiraan Online
Somaliland President reverses planned internet price hike, averts mass protests - Hiiraan Online
Hargeisa (HOL) – Somaliland President Abdirahman Mohamed Abdillahi Cirro has overturned a decision by telecom giants Telesom and Somtel to double internet service prices, a move that had sparked public outrage and prompted plans for large-scale protests on…
❤3
#Ethiopia’s Sovereign Fund makes first international investment in #Akobo minerals
Akobo Minerals, the Scandinavian-based Ethiopian gold exploration and boutique mining company, Ethiopia’s Sovereign Wealth Fund, Ethiopian Investment Holdings (EIH), has made its first-ever international investment, acquiring a 7.4% stake in Scandinavian-based Ethiopian gold producer Akobo Minerals, according to Akobo.
The investment, valued at USD 3 million, was executed through a private placement of 15,000,000 new shares at USD 0.20 per share, Akobo Minerals said on Monday in a statement sent to Addis Standard.
The capital will be used to construct a new vertical shaft expected to increase monthly gold production from the current 5–10 kilograms to between 50–80 kilograms.
Brook Taye (PhD), CEO of EIH, described the deal as a “historic and strategic breakthrough” for Ethiopia’s economic expansion.
https://addisstandard.com/?p=51817
Akobo Minerals, the Scandinavian-based Ethiopian gold exploration and boutique mining company, Ethiopia’s Sovereign Wealth Fund, Ethiopian Investment Holdings (EIH), has made its first-ever international investment, acquiring a 7.4% stake in Scandinavian-based Ethiopian gold producer Akobo Minerals, according to Akobo.
The investment, valued at USD 3 million, was executed through a private placement of 15,000,000 new shares at USD 0.20 per share, Akobo Minerals said on Monday in a statement sent to Addis Standard.
The capital will be used to construct a new vertical shaft expected to increase monthly gold production from the current 5–10 kilograms to between 50–80 kilograms.
Brook Taye (PhD), CEO of EIH, described the deal as a “historic and strategic breakthrough” for Ethiopia’s economic expansion.
https://addisstandard.com/?p=51817
👏2❤1
#UAE reaffirms support for efforts to end war in #Sudan, protect civilians
The United Arab Emirates (UAE) on Sunday reiterated its support for efforts aimed at achieving peace in Sudan and protecting civilians.
“The United Arab Emirates stands with the Sudanese people in their pursuit of peace, stability, and a dignified future,” the Foreign Ministry said in a readout.
The ministry affirmed the country’s “unwavering commitment to working closely with partners to foster dialogue, mobilize international support, and contribute to initiatives that address the humanitarian crisis and lay the groundwork for sustainable peace.”
The ministry accused the Sudanese government of raising “unfounded accusations and deliberate propaganda” against the UAE.
https://www.aa.com.tr/en/africa/uae-reaffirms-support-for-efforts-to-end-war-in-sudan-protect-civilians/3655872
The United Arab Emirates (UAE) on Sunday reiterated its support for efforts aimed at achieving peace in Sudan and protecting civilians.
“The United Arab Emirates stands with the Sudanese people in their pursuit of peace, stability, and a dignified future,” the Foreign Ministry said in a readout.
The ministry affirmed the country’s “unwavering commitment to working closely with partners to foster dialogue, mobilize international support, and contribute to initiatives that address the humanitarian crisis and lay the groundwork for sustainable peace.”
The ministry accused the Sudanese government of raising “unfounded accusations and deliberate propaganda” against the UAE.
https://www.aa.com.tr/en/africa/uae-reaffirms-support-for-efforts-to-end-war-in-sudan-protect-civilians/3655872
❤1
#AfDB signs agreement to mobilize $8B for construction of #Africa’s largest airport in #Ethiopia
The African Development Bank Group (AfDB) has signed an agreement with Ethiopian Airlines Group to mobilize $8 billion for the construction of Bishoftu International Airport, which is set to become Africa’s largest airport upon completion.
A ceremonial signing to formalize the arrangement was held in Addis Abeba today, attended by Lemma Yadecha, Ethiopian Airlines Group Chief Commercial Officer, and AfDB President Akinwumi Adesina, senior Ethiopian Airlines executives, and other dignitaries.
According to a statement released by AfDB last week, the airport will be located in Abusera, 40 km south of Addis Ababa, with an initial capacity to handle 60 million passengers annually, expanding to 110 million at full capacity. This would far exceed the passenger volumes of Africa’s busiest airports, which currently serve between 18 and 29 million passengers per year.
https://addisstandard.com/?p=51822
The African Development Bank Group (AfDB) has signed an agreement with Ethiopian Airlines Group to mobilize $8 billion for the construction of Bishoftu International Airport, which is set to become Africa’s largest airport upon completion.
A ceremonial signing to formalize the arrangement was held in Addis Abeba today, attended by Lemma Yadecha, Ethiopian Airlines Group Chief Commercial Officer, and AfDB President Akinwumi Adesina, senior Ethiopian Airlines executives, and other dignitaries.
According to a statement released by AfDB last week, the airport will be located in Abusera, 40 km south of Addis Ababa, with an initial capacity to handle 60 million passengers annually, expanding to 110 million at full capacity. This would far exceed the passenger volumes of Africa’s busiest airports, which currently serve between 18 and 29 million passengers per year.
https://addisstandard.com/?p=51822
👍1
#Somaliland Foreign Minister confirms President’s planed #US visit for recognition talks
Somaliland’s Minister of Foreign Affairs, Abdirahman Dahir Adam, confirmed to local media that Somaliland President Abdirahman Mohamed Abdillahi Irro is set to embark on an official visit to the United States in the coming days, as diplomatic momentum builds around the territory’s bid for international recognition.
President Irro will hold high-level meetings in Washington, D.C., engaging with senior U.S. government officials, members of Congress, policy experts, and representatives from leading think tanks.
According to the foreign affairs minister, the discussions will focus on strengthening bilateral relations, boosting economic cooperation, and addressing regional security challenges in the Horn of Africa.
https://www.horndiplomat.com/2025/08/somaliland-president-plans-us-visit-for-recognition-talks/
Somaliland’s Minister of Foreign Affairs, Abdirahman Dahir Adam, confirmed to local media that Somaliland President Abdirahman Mohamed Abdillahi Irro is set to embark on an official visit to the United States in the coming days, as diplomatic momentum builds around the territory’s bid for international recognition.
President Irro will hold high-level meetings in Washington, D.C., engaging with senior U.S. government officials, members of Congress, policy experts, and representatives from leading think tanks.
According to the foreign affairs minister, the discussions will focus on strengthening bilateral relations, boosting economic cooperation, and addressing regional security challenges in the Horn of Africa.
https://www.horndiplomat.com/2025/08/somaliland-president-plans-us-visit-for-recognition-talks/
❤1
#TPLF warns forced return of displaced including to Western #Tigray deepens existing crisis
Tigray People’s Liberation Front (TPLF) chairman Debretsion Gebremichael (PhD), cautioned on Friday that pushing displaced persons to return home without addressing security and justice concerns risks creating a “dangerous situation” in the region.
Speaking on Friday after the party’s recent Central Committee meeting, Debretsion said conditions for a safe and sustainable return of displaced Tigrayans as outlined by the Pretoria agreement remain unmet.
Among the major challenges include the absence of withdrawal of “invading forces and settlers from occupied areas,” lack of accountability of those responsible for “genocide and atrocities in Western Tigray”, and dismantling of the state-backed administration in the areas.
https://addisstandard.com/?p=51827
Tigray People’s Liberation Front (TPLF) chairman Debretsion Gebremichael (PhD), cautioned on Friday that pushing displaced persons to return home without addressing security and justice concerns risks creating a “dangerous situation” in the region.
Speaking on Friday after the party’s recent Central Committee meeting, Debretsion said conditions for a safe and sustainable return of displaced Tigrayans as outlined by the Pretoria agreement remain unmet.
Among the major challenges include the absence of withdrawal of “invading forces and settlers from occupied areas,” lack of accountability of those responsible for “genocide and atrocities in Western Tigray”, and dismantling of the state-backed administration in the areas.
https://addisstandard.com/?p=51827
#Ethiopia: Angelina Jolie visits St. Peter’s Hospital, pledges support for MDR-TB treatment
Renowned American actress, filmmaker, and humanitarian #Angelina_Jolie visited St. Peter's Specialized Hospital in Addis Abeba Sunday, focusing on the institution’s work in combating Multi-Drug Resistant Tuberculosis (MDR-TB).
During her visit, she toured the hospital’s TB and MDR-TB treatment wards and laboratory, and met with patients. She recalled a previous visit to the facility years ago and expressed delight at the “multifaceted changes” achieved since then. She noted that with adequate support, the hospital is well-positioned to further enhance the quality of its services.
The actress “praised the progress” made in TB treatment at St. Peter’s as “highly commendable and reliable,” pledging future assistance through the Global Health Committee (GHC), according to the Hospital.
Read more: https://x.com/addisstandard/status/1954927268641247340
Renowned American actress, filmmaker, and humanitarian #Angelina_Jolie visited St. Peter's Specialized Hospital in Addis Abeba Sunday, focusing on the institution’s work in combating Multi-Drug Resistant Tuberculosis (MDR-TB).
During her visit, she toured the hospital’s TB and MDR-TB treatment wards and laboratory, and met with patients. She recalled a previous visit to the facility years ago and expressed delight at the “multifaceted changes” achieved since then. She noted that with adequate support, the hospital is well-positioned to further enhance the quality of its services.
The actress “praised the progress” made in TB treatment at St. Peter’s as “highly commendable and reliable,” pledging future assistance through the Global Health Committee (GHC), according to the Hospital.
Read more: https://x.com/addisstandard/status/1954927268641247340
❤4
#Tigray authorities seize 440 illegal mining machines; report over 7 billion birr loss in revenue
Tigray’s Task Force for Preventing and Combating Illegal Mining has seized over 440 machines from illegal sites in the Northwestern Zone, regional media reported. It said mineral smuggling has cost the region more than 7 billion birr in revenue.
The task force, established in December last year by the Tigray Interim Administration under former president Getachew Reda, aims to regain control of the region’s mining sector.
During a meeting in Mekelle on Saturday with zonal and district leaders, senior military officials, and security and justice bodies, the task force revealed that illegal mining and mineral smuggling have cost Tigray over 7 billion birr in lost revenue to the National Bank. It noted that only 24 million birr in gold revenue has been recorded this year, well below projections.
https://addisstandard.com/?p=51831
Tigray’s Task Force for Preventing and Combating Illegal Mining has seized over 440 machines from illegal sites in the Northwestern Zone, regional media reported. It said mineral smuggling has cost the region more than 7 billion birr in revenue.
The task force, established in December last year by the Tigray Interim Administration under former president Getachew Reda, aims to regain control of the region’s mining sector.
During a meeting in Mekelle on Saturday with zonal and district leaders, senior military officials, and security and justice bodies, the task force revealed that illegal mining and mineral smuggling have cost Tigray over 7 billion birr in lost revenue to the National Bank. It noted that only 24 million birr in gold revenue has been recorded this year, well below projections.
https://addisstandard.com/?p=51831
❤5👍3
#Somalia executes two soldiers convicted of aiding #al_Shabaab in commander's killing
Two members of the Somali National Army (SNA) were executed, Monday following convictions by the Armed Forces Court over links with the al-Shabaab fighters, a group that has destabilized peace in the country for two decades.
The two, the court established, worked closely withtlhe al-Shabaab ighters in killing a senior army officer. They were placed on the murder scene as the court issued a death sentence, sending a strong warning to rogue soldiers working with Al-Shabaab fighters.
Mohamed Hussein Buule and Aadan Isaaq Yarow, alias Salaad Koof, were convicted for the death of the army officer and served in the famous 14th October Brigade, named after a deadly attack in Mogadishu that left over 600 people dead.
https://www.garoweonline.com/en/news/somalia/somalia-executes-two-soldiers-convicted-of-aiding-al-shabaab-in-commander-s-killing
Two members of the Somali National Army (SNA) were executed, Monday following convictions by the Armed Forces Court over links with the al-Shabaab fighters, a group that has destabilized peace in the country for two decades.
The two, the court established, worked closely withtlhe al-Shabaab ighters in killing a senior army officer. They were placed on the murder scene as the court issued a death sentence, sending a strong warning to rogue soldiers working with Al-Shabaab fighters.
Mohamed Hussein Buule and Aadan Isaaq Yarow, alias Salaad Koof, were convicted for the death of the army officer and served in the famous 14th October Brigade, named after a deadly attack in Mogadishu that left over 600 people dead.
https://www.garoweonline.com/en/news/somalia/somalia-executes-two-soldiers-convicted-of-aiding-al-shabaab-in-commander-s-killing
❤2
African Development Bank to finance $500 million of #Ethiopia's new airport
The African Development Bank will contribute $500 million towards the financing of a new airport in Ethiopia - which is expected to be Africa's largest when completed in 2029 - it said on Monday.
State-owned Ethiopian Airlines has signed an agreement for the design of the four-runway airport near the town of Bishoftu, around 45 km (28 miles) southeast of the capital Addis Abeba. The airline has said it will provide 20% of the funding for the $10 billion project and the rest will come from creditors.
"The bank has itself earmarked up to $500 million, subject to board approval, to anchor the funding of this transformational regional integration project," the development bank said in a statement.
https://www.reuters.com/world/africa/african-development-bank-finance-500-million-ethiopias-new-airport-2025-08-11/
The African Development Bank will contribute $500 million towards the financing of a new airport in Ethiopia - which is expected to be Africa's largest when completed in 2029 - it said on Monday.
State-owned Ethiopian Airlines has signed an agreement for the design of the four-runway airport near the town of Bishoftu, around 45 km (28 miles) southeast of the capital Addis Abeba. The airline has said it will provide 20% of the funding for the $10 billion project and the rest will come from creditors.
"The bank has itself earmarked up to $500 million, subject to board approval, to anchor the funding of this transformational regional integration project," the development bank said in a statement.
https://www.reuters.com/world/africa/african-development-bank-finance-500-million-ethiopias-new-airport-2025-08-11/
#NBE governor, #US ambassador discuss cross-border remittance regulation amid crackdown on illicit transfers
Governor of the National Bank of Ethiopia (NBE), Mamo Mihretu, met with United States Ambassador to Ethiopia, Ervin Massinga, to discuss ongoing reforms aimed at improving the investment climate and tightening regulation of cross-border remittances.
According to the NBE, the talks on Monday focused on “enhancing regulatory cooperation” to ensure remittance flows are channeled through formal and regulated financial systems.
The meeting follows a 2 August statement in which the NBE publicly named four U.S.-based money transfer service providers accused of laundering funds and financing illicit activities through remittances from the Ethiopian diaspora. The companies — Shgey Money Transfer, Adulis Money Transfer, Ramada Pay (Kaah) and TAAJ Money Transfer — operate in Virginia and Minnesota.
https://x.com/addisstandard/status/1955171390891626893
Governor of the National Bank of Ethiopia (NBE), Mamo Mihretu, met with United States Ambassador to Ethiopia, Ervin Massinga, to discuss ongoing reforms aimed at improving the investment climate and tightening regulation of cross-border remittances.
According to the NBE, the talks on Monday focused on “enhancing regulatory cooperation” to ensure remittance flows are channeled through formal and regulated financial systems.
The meeting follows a 2 August statement in which the NBE publicly named four U.S.-based money transfer service providers accused of laundering funds and financing illicit activities through remittances from the Ethiopian diaspora. The companies — Shgey Money Transfer, Adulis Money Transfer, Ramada Pay (Kaah) and TAAJ Money Transfer — operate in Virginia and Minnesota.
https://x.com/addisstandard/status/1955171390891626893
❤1🤨1