Afar Revenues Authorities Report 1.5b Br Collected

May 7 , 2022

Tax officials in the Afar Regional State say they have collected 1.5 billion Br in revenues over the past nine months. It represents a growth of over 300 million Br compared to the same period last year, despite the region becoming increasingly embroiled in the armed conflict gripping the country's north over the past few months. Over 240 schools remain closed in the region, keeping more than 53,000 children from attending classes, according to a report by the United Nations Office for the Coordination of Humanitarian Affairs (UN-OCHA). The agency has identified more than 600,000 people in the region who are in need of food assistance, though its report states that a lack of transportation remains a critical gap in addressing the problem.


Abyssinia Bank Taps to Digital Loan Solution

The Bank of Abyssinia (BoA) is moving forward to provide banking solutions facilitating microloans. The Bank has hired an Indian-based tech vendor Newgen Software Company, that bagged the international bid on December 22, 2022. Over 10 companies have shown interest in the bid floated by the bank four months ago. The solution provider has committed to completing the project in six months with Yonas Daniel, regional manager for Newgen, and Menbereselassie Gebrekidan, procurement director at Aby...



Bank of Abyssinia rolls out banking services on a truck around Meskel square in the capital. With less than half of Ethiopian adults having access to bank accounts, financial inclusion is a major issue. The central bank revealed in August 2022 that 8,944 commercial bank branches exist in the country. The 30 commercial banks currently in operation offer credit services to less than 400,000 customers charging an average of 17pc interest on asset-backed loans...



Left) Elias Woldu and Mesnbet Shinkute sign a Memorandum of Understanding on behalf of the Ethio-American and Addis Abeba Chamber of Commerce & Sectoral Association, respectively. Some estimates put the number of Ethiopian diaspora living abroad at over two million people, larger than the population of several small nations. Continued economic and political deprivation has forced many to leave the country for better opportunities. While migration to other countries is still high, the number...