City Creates Over 34,000 Jobs in Three Months

Nov 23 , 2019

Over 34,000 job opportunities in Addis Abeba were created in the first quarter of the fiscal year. The city’s Job Creation Enterprise Development Bureau plans to create over a quarter of a million jobs in the current fiscal year. Out of 34,000 jobs created, 25,935 are permanent and 8,568 are temporary job opportunities. Manufacturing, construction and urban agriculture account for the majority of the jobs created during the first quarter. Out of its total plan, the Bureau aims to create more than 200,000 jobs by organizing youth permanently and temporarily under associations, while the remaining jobs would be created by employment institutions. The Addis Abeba Housing Development & Administration Bureau’s Housing Development Corporation planned to create over 90,000 job opportunities, although the commencement of the housing projects was launched late. The mega projects of the city, which play a significant role in job creation, are on their initial phase of commencement, according to Meron Adissie, public relations team leader of the Enterprise Development Bureau.


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...