The Somali Regional State’s Pastoral Development Bureau announced a major increase in camel milk production, rising from 1.4 billion to 2.2 billion liters annually. The boost comes as a result of the region’s efforts to modernize camel farming and improve animal productivity.
One of Ethiopia’s nine states, Somalia State, got its second micro finance institution (MFI) which is dubbed Rays MFI. The institution is going extend loan with an interest rate ranging from 10 percent to 20 percent.
Somali Regional President Mustefie Mohamed presided over the inauguration of a new car assembly factory in Jigjiga city. The factory, constructed at a cost of Birr 250 million, represents a significant development initiative for the region.
The Somali Regional State Investment and Industry Bureau has made an announcement regarding the licensing of 367 new investors including 37 foreign investors across various sectors, amounting to a significant total investment of over Birr 11.4 billion. This influx of investments is expected to generate 12,243 job opportunities.
The Somali Regional State's Investment and Industry Bureau has granted new investment licenses to developers who registered a capital of Birr 11.4 billion in the last financial year.
