U.N. Warns Of Worsening Famine, More Clashes In Ethiopia's Tigray
July 3, 2021, 6:44 am

Tigray

Reuters reported that top U.N. officials warned the Security Council on Friday that more than 400,000 people in Ethiopia's Tigray were now in famine and that there was a risk of more clashes in the region despite a unilateral ceasefire by the federal government. Tigray

After six private discussions, the Security Council held its first public meeting since fighting broke out in November between government forces, backed by troops from neighboring Eritrea, and TPLF fighters with Tigray's former ruling party.

Acting U.N. aid chief Ramesh Rajasingham told the council that the humanitarian situation in Tigray had "worsened dramatically" in recent weeks with an increase of some 50,000 in the number of people now suffering famine. read more

"More than 400,000 people are estimated to have crossed the threshold into famine and another 1.8 million people are on the brink of famine. Some are suggesting that the numbers are even higher. 33,000 children are severely malnourished," he said.

The Ethiopian government declared a unilateral ceasefire on Monday, which the TPLF dismissed as a joke. There are reports of continued clashes in some places as pressure builds internationally for all sides to pull back.

U.S. Ambassador to the United Nations, Linda Thomas-Greenfield, said Ethiopia's government must demonstrate "it truly intends to use the ceasefire to address the humanitarian catastrophe," warning that any denial of aid access is "not an indication of a humanitarian ceasefire, but of a siege." Tigray

Ethiopia's U.N. Ambassador Taye Atske Selassie Amde told reporters after he addressed the council that the purpose of the ceasefire "is not to make a siege, it is to save lives."

Amde questioned the need for the public Security Council meeting, telling the body the ceasefire was declared to improve aid access and "should have encouraged our friends to give support and de-escalate the unhelpful pressure." He said the government hoped the ceasefire could also spark dialogue.

Thomas-Greenfield urged the parties to the conflict to "seize this moment," warning that if they failed there could be devastating consequences for Ethiopia and the Horn of Africa.

U.N. political and peacebuilding affairs chief Rosemary DiCarlo said Eritrean forces had withdrawn to areas adjacent to the border and that forces from the neighboring region of Amhara remained in areas of western Tigray that they had seized. Tigray

"In short, there is potential for more confrontations and a swift deterioration in the security situation, which is extremely concerning," she told the council, urging the TPLF to endorse the ceasefire and for Eritrean troops to fully withdraw.

While Russia and China did not object to Friday's public meeting of the Security Council on Tigray, they made clear that they believed the conflict is an internal affair for Ethiopia. Russia's U.N. Ambassador said: "We believe that interference by the Security Council in solving it is counterproductive."

Russia and China are both council veto-powers, along with the United States, France and Britain. Tigray

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Source: Reuters

Image source: Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.