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Cement Plant Puts Down Roots in Amhara

Jan 26 , 2019

A new cement factory is being built in Dejen in Amhara Regional State by Abay Industrial Development Share Company at a cost of 8.8 billion Br. Abay has signed agreements with the Chinese Hengyuan Group and the Danish FLSmidth for the construction of the cement plant. The signing ceremony was held at the Sheraton Addis Hotel in the presence of Deputy Prime Minister Demeke Mekonnen and Gedu Andargachew, president of the Amhara Regional State, and Melaku Alebel, chairperson of the board of directors of Abay Industrial Development. The construction of the company will be completed in two years and can produce 5,000tn of cement a day. It is expected to open employment opportunities for 1,000 people once it becomes operational.

Radar

Digital Heights for Coop Bank, Profits Dip

The Cooperative Bank of Oromia (CBO) announced that a total transaction volume of 1.36 trillion Br was made through 489.5 million transactions on its digital platform, Coopay E-Birr. Fuel payment transactions alone reached 1.15 billion Br across 105,500 transactions. The platform added 8,959 agents, 32,840 merchants, and 3.85 million new subscribers in the year. However, at 2.51 billion Br, the Bank's gross profit before tax declined by 26pc from last year's 3.39 billion Br. Board Chai...

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AI-Powered, Sharia-compliant Digital Financing for MSMEs, Consumers Debuts

ZamZam Bank, in partnership with Kifiya Financial Technology, has launched a Sharia-compliant digital financing service, "Ansar Digital Financing". The service, which the Bank asserts is Ethiopia's first, aims to transform access to financial services for micro, small, and medium enterprises (MSMEs), particularly women and informal sector workers. The announcement was made during a formal launch event held at the Haile Grand Hotel last week. Melika Bedri, president of ZamZam Bank, stated that...

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Radar

Local, International Firms Cooperate to Bridge Skill Mismatch

In a bid to address the pervasive skill mismatch, Geez Education & Training Plc (GET) has allied with International financial and management institutions to bridge the gap. Three international institutions, the Global Academy of Finance & Management (GAFM), the American Academy of Project Management (AAPM), and California State University, Dominguez Hills (CSUDH), have entered into a cooperation with GET at an event held last week at Skylight Hotel. Officials believe the move will con...

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