City Pledges to Create More Jobs

Mar 30 , 2019

The Addis Abeba City Administration created job opportunities for 66,229 people in the last eight months, which amounted to 63pc of its plan. The City Administration also plans to implement the two billion Birr revolving fund for job creation by building 100 gas stations and 2,000 commercial units. Currently, the administration has completed the precondition for selecting the youth.  Since July 2018, 116,025 registered unemployed people have been recorded, 24,000 of which are university graduates. The City Administration also plans to use 300 old buses owned by Anbessa City Bus Service Enterprise as mobile fast food outlets. The City Administration will work aggressively in the coming four months with regard to job creation, according to Deputy Mayor Takele Uma. “We will also work to minimise the bureaucratic process to get a business license,” Takele said. In the last eight months of the current fiscal year, the city administration has provided 271 million Br in loans to the youth.


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...