Ethiopia Hosts World Bank Leaders to Chart a Course for Growth and Development

Jul 29 , 2023


[ssba-buttons]

World Bank President Ajay Banga will be in Ethiopia this week with a particular focus on creating job opportunities for women and youth. He plans to visit textile and shoe manufacturing companies and malt producers which source their input from the local farmers while meeting with small-scale business owner women. During the two-day visit, he will meet with Prime Minister Abiy Ahmed, Minister of Finance Ahmed Shide and the Governor of the National Bank of Ethiopia Mamo Mihretu. He will also discuss the partnership between the World Bank and African Union with the African Union Commission Chairperson Moussa Faki Mahamat. Ajay is joined by Victoria Kwakwa, the vice president for Eastern & Southern Africa and Mohamed Gouled, the vice president for industries at International Finance Corporation which will be followed by a visit to Nigeria, Peru, Jamaica and India. The global tour is heralded as a step towards a new direction for the 78-year-old institution.


Radar

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...