City Disburses 1.7b Br Revolving Fund

Dec 7 , 2019


Out of the two billion Br in revolving funds allocated to create jobs in the city, 1.7 billion Br has already been disbursed to more than 26,000 youths. In the first quarter of the current fiscal year, 1.4 billion Br was disbursed, while the remaining funds are expected to be fully distributed to the beneficiaries in the second quarter of this fiscal year. The number of team members in an enterprise has been revised down from five to three people, while the initial deposit requirement was also decreased from 10pc to five percent. The earlier age limit imposed on female beneficiaries has been lifted altogether. The youth groups organised in more than 7,100 enterprises have already received the funds to commence their business projects from Addis Credit & Saving Institution, which is in charge of channeling the funds.


Radar

Mobile Apps Streamline Container Handling

A Chinese private logistics company availed its multilingual mobile applications designed to streamline container handling processes for local businesses. Dubbed arl-shipping.com, the apps are available in Amharic, Oromo, Somali, and Tigrigna, with a competitive monthly fee. Company managements aim to tackle inefficiencies by scanning truck license plates, container IDs, and other details, reducing manual data entry and the potential for errors. Users can also record gate movements with times...


Radar

Private Investment Takes Flight in Aviation Industry

Local private operators received the green light last week to expand their services beyond charter flights, offering regular passenger and cargo options. This move by the Ethiopian Civil Aviation Authority is expected to boost the air transport sector, attracting private companies to invest in air travel services. The Authority is partnering with private investors to improve air transport infrastructure by building over 21 new airstrips and helipads in previously underserved areas. Officials...


Radar

Safaricom Ramps Up Network Expansion with Locally Made Poles

Safaricom Ethiopia has initiated a three-month procurement process to acquire a total of 68 poles from Woda Metal, the first telecom pole manufacturer in the country. The initial batch of 13 poles was delivered last week, marking a milestone as the first use of domestically produced poles in Ethiopia's telecom sector. Wim Vanhellputte, CEO of Safaricom Ethiopia, praised the high quality and affordability of Woda Metal's poles, which will be crucial for their network expansion goals. The co...


Back
WhatsApp
Telegram
Email