Development Bank Initiates Small Business Support Programme

Mar 27 , 2021


Business people who run micro, small and medium enterprises will benefit from training on planning, management, finance and accounting if selected by the Development Bank of Ethiopia (DBE). Ethiopia's policy bank announced last week that it has allocated 8.6 billion Br to support these businesses. The support programme consists of facilitating the procurement of machinery and equipment as well as the provision of various training projects. The enterprises are expected to attend the training in order to work with the Bank and become beneficiaries of the funding, according to Yohannes Ayalew (PhD), president of the DBE. The first round of training for small business operators is already underway with more than 2,500 trainees participating in five different centres.


Radar

Digital Heights for Coop Bank, Profits Dip

The Cooperative Bank of Oromia (CBO) announced that a total transaction volume of 1.36 trillion Br was made through 489.5 million transactions on its digital platform, Coopay E-Birr. Fuel payment transactions alone reached 1.15 billion Br across 105,500 transactions. The platform added 8,959 agents, 32,840 merchants, and 3.85 million new subscribers in the year. However, at 2.51 billion Br, the Bank's gross profit before tax declined by 26pc from last year's 3.39 billion Br. Board Chai...


Radar

AI-Powered, Sharia-compliant Digital Financing for MSMEs, Consumers Debuts

ZamZam Bank, in partnership with Kifiya Financial Technology, has launched a Sharia-compliant digital financing service, "Ansar Digital Financing". The service, which the Bank asserts is Ethiopia's first, aims to transform access to financial services for micro, small, and medium enterprises (MSMEs), particularly women and informal sector workers. The announcement was made during a formal launch event held at the Haile Grand Hotel last week. Melika Bedri, president of ZamZam Bank, stated that...


Radar

Local, International Firms Cooperate to Bridge Skill Mismatch

In a bid to address the pervasive skill mismatch, Geez Education & Training Plc (GET) has allied with International financial and management institutions to bridge the gap. Three international institutions, the Global Academy of Finance & Management (GAFM), the American Academy of Project Management (AAPM), and California State University, Dominguez Hills (CSUDH), have entered into a cooperation with GET at an event held last week at Skylight Hotel. Officials believe the move will con...