Abyssinia, MFIs Ink 600m Br Loan Agreement

Jul 24 , 2021


[ssba-buttons]

The Bank of Abyssinia has agreed to provide 600 million Br in loans to four microfinance institutions (MFIs) as part of its efforts to comply with the central bank's policies. Facilitated by the Mastercard Foundation's BRIDGES Programme, Dynamic, Harbu, Metemamen and Nisir MFIs signed the agreement with the Bank during a ceremony held at the Skylight Hotel last week. In turn, the MFIs will use the funding to provide loans to smallholder farmers, micro, small and medium enterprises and other entities that face difficulties in borrowing from banks as they lack collateral. The agreement is part of a larger effort to implement a directive from the National Bank of Ethiopia (NBE) to enforce the operationalisation of a movable collateral registry. Passed last year, the directive states that all financial institutions are expected to extend loans to cooperative unions and small and micro enterprises in the agricultural sector.


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hilton Hotel Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...