UN: Famine threatens drought-devastated parts of Horn of Africa
June 1, 2022, 8:35 am

UN: Famine threatens drought-devastated parts of Horn of Africa

UN: Drought in the Horn of Africa has killed more than 1.5 million livestock and drastically cut cereal production/Pixabay

The threat of famine looms in parts of the Horn of Africa due to suffering from a devastating drought that has killed millions of livestock in the region, UN humanitarians said on Tuesday (May 31).

"Meteorological and humanitarian agencies are warning of the threat of starvation following four consecutive failed rainy seasons in parts of Ethiopia, Kenya and Somalia," said the UN Office for the Coordination of Humanitarian Affairs (OCHA). Four failed rainy seasons are a climatic event not seen in at least 40 years.

With Somalia facing the risk of famine in six areas, UN humanitarian partners are transitioning from drought response to famine prevention, said OCHA's latest situation report. It wants to target the most vulnerable populations and develop a Famine Prevention Plan.

A UN spokesman said on Tuesday that the Ethiopia-Somalia drought has uprooted 845,000 people from their homes and killed more than 1.5 million head of livestock in Ethiopia alone (File photo: Pixabay)

The drought devastates livelihoods and drives a sharp increase in food, water, and nutrition insecurity, OCHA said. Some 3.6 million livestock died in Kenya and Ethiopia, and in the worst-affected areas of Somalia, about a third of the livestock perished since the middle of last year.

UN spokesman: Horn of Africa drought affects 18 mln people

About 16.7 million people face high acute food insecurity, and the number could increase to 20 million by September, the agencies warn. It has reached the Integrated Phase Classification (IPC) Acute Food Insecurity Level 3+. More than 80,000 suffer extreme hunger at IPC 5, the worst phase.

OCHA said that severe acute malnutrition is rising across the three countries, posing an immediate threat to the lives of children in drought-affected areas.

FAO says desert locust upsurge in Horn of Africa ends

Meteorological experts forecast a substantial risk that the next rainy season could fail, leading to an unprecedented situation from October to December.

The office said: "The United Nations and our humanitarian partners have reached 6.5 million people in drought-affected areas across the three countries with assistance including food, water, nutrition, and health services."

"The response needs to be further scaled up to save lives and livelihoods in the months to come. We call on donors to urgently support partners to take swift action."

Source: xinhua

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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.