CBE, AAU Join to Quell Rumors of Corruption

Dec 17 , 2022


The state-owned Commercial Bank of Ethiopia (CBE) refutes the alleged leak on its recruitment exams at a press briefing held at its old headquarters around the La Gare area. Reports were circulating on social media that the exam process for the newly recruited employees was entrenched in bribes, up for sale and biased interviews. According to the Human Resources Department Deputy, Ephrem Mekruya, CBE will give job opportunities to 11,000 this year, after receiving 130,000 new applications for open positions. He disclosed that the Bank was training the staff who would interview the prospective recruits. The largest bank with assets of nearly a trillion Birr currently has 39,000 permanent employees. According to Ephrem, CBE outsources the examination process to the University, which has a "long-standing reputation for integrity." Abraraw Chane (PhD), a lecturer who also oversees the testing process by AAU, stated that the rigorous security measures are full proof against any attempts at cheating or illicit activities as the tests are coded, similar to the national exams given to senior high school students.


Radar

Central Bank's Auction Sends Dollar Soaring to 135 Br

A dollar value against the Birr exceeds 135 during an auction the Central Bank held last week, offering 60 million dollars. Close to 27 banks made their bid where the weighted average was 135.61 Br for a dollar. The National Bank of Ethiopia (NBE) announced the results of the special foreign exchange auction, the second since monetary authorities floated the forex regime in early August last year. Last week's result reflects a weaker Birr than in the first when the average rate was 107.9 Br....


Radar

Ethio Telecom Bids to Dominate Ethiopia's Digital Future

An array of services from digital livestock tracking, push-to-talk/video communications to cloud-based banking, an education management system (EMS), and enterprise resource Planning (ERP) are available from the state-owned Ethio telecom. Ethio telecom has introduced seven new cloud-based digital services last week at the Skylight Hotel, on Africa Avenue (Bole Road), pledging to transform business operations, financial services, and education management. The company said that these solutions...


Radar

Addis International Convention Centre Inaugurates

The much-anticipated Addis International Convention Centre, spanning 40 hectares, was officially inaugurated last week. It is set to become the country's largest conference venue, designed to host both national and international events. The centre features two large halls, each accommodating 3,000 to 4,000 people. It also includes eight smaller meeting rooms, bringing its total capacity to 10,000 attendees. Two hotels, with a combined 1,000-bed capacity, will serve both local and internationa...