ZamZam Bank Strikes a Pact to Digitise Pilgrimage Packages


ZamZam Bank struck a deal with Link All Technology S.C. for a product that links to travel agencies and hotel bookings during travels to Saudi Arabia last week. Dubbed Guzo le-Umrah, the product is expected to assist customers who have saved in Mudarabha Hajj & Umrah accounts to facilitate pilgrimage arrangements. Kedir Bedewi, the vice president of the Bank, pointed out that the expansion of branches has to go in tandem with digital banking to warrant operational efficiency. Over 400,000 people from Ethiopia are estimated to yearly partake in the journey to Mecca in Saudi Arabia. Yenus Abdi, the CEO of the tech Company, and Melkia Bedri, president of the Bank, signed the memorandum of understanding at the Al-Nahari Hotel, Ethio-China Street.


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Exchange Ponders Adding Salt to its Floor

The Ethiopian Commodity Exchange (ECX) is considering adding salt to its list as the 24th tradable commodity. Executives are currently conducting feasibility studies and preparing sales contracts. Last week, Ali Muhammed, deputy administrator of the Afar Regional State, and Ali Behani, Head of the Regional Mining Bureau, visited the ECX headquarters in the Mexico area. They said regional salt miners and processors are not adequately compensated for their production, with hopes that the EC...


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Public Service Sector Receives Data Privacy Training

Staff members from the National Bank of Ethiopia, the Ministry of Trade & Regional Integration and the Ministry of Revenues received a three-day training on data privacy and protection over the past week. The training aimed to equip participants with the skills of proper data breach notification procedures, minimising risk of exposure, and secure data transfer practices to safeguard personal data during transmission. It was given by the Business Environment and Investment Climate (BEI...


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Unleashing Millions for Micro-Entrepreneurs with Digital Loans

A 100 million-dollar program to scale up six financial institutions to facilitate digital non-collateral loans to micro, small and medium enterprises (MSMEs) was launched last week. Drawing experience from the first digital non-collateral lending platform dubbed Michu powered by Cooperative Bank of Oromia (COOP), the program coupled with Amhara, Bunna, Enat, Wegagen and ZamZam banks. Last year, Coop dispersed 946 million Br loans to farmers through cooperative unions and MSMEs, reaching m...


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