Authority Constructs, Upgrades Roads for 2b Br

Feb 16 , 2019

The construction and upgrade of 25 road projects will be completed before the end of the current fiscal year, disclosed the Addis Abeba City Roads Authority. The road projects are under construction with a budget of two billion Birr from the city administration. In this fiscal year, the Authority has managed to construct, upgrade and maintain 323Km of roads, including cobblestone, according to Moges Tibebu, chief executive officer of the authority. To ease the traffic congestion, the Authority upgraded a 35Km-long road by broadening the width from 20m to 30m. The Authority also plans to complete four projects within three years. The Aqaqi Qality-Tulidimti; Qeranio-Abo; Tulidimtu-Tirunesh Beijing Hospital; and the Lideta Bulgaria via Africa Union are the four road projects.


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...