Corporation Chips in 16.5m Br for Dine for the Nation

Oct 24 , 2020


The Industrial Park Development Corporation has contributed 16.5 million Br to Dine for the Nation, a gala dinner hosted by Prime Minister Abiy Ahmed (PhD) to raise funds for the redevelopment of tourist destination sites across three regional states. The contribution comes from the Corporation's management and employees, who have pitched in their one-month salary to the project. In addition to this, the Corporation has also purchased a ticket worth 10 million Br for a dinner seat at the gala. Charging 10 million Br and five million Birr a seat for VVIP and VIP, respectively, Dine for the Nation is aimed at raising three billion Br and is set to be held at the end of next month. The three projects to be developed are found in Gorgora in Amhara Regional State; Koisha in Southern Nations, Nationalities & People’s Regional State; and Wonchi in Oromia Regional State. They are expected to cost six billion Birr.


Radar

Sovereign Fund Reviews Mid-Year Performance of Line Companies, Calls for Strategic Improvements

Ethiopian Investment Holdings (EIH) launched its mid-year performance review for its portfolio companies, displaying mixed results for the first half of the fiscal year. Ethiopian Sugar Industry Group (ESIG) reached 95.3pc of its sales goal, selling 64,190tn of sugar for 6.1 billion Br—a 132pc year-on-year growth—despite capacity and supply issues. The Ethiopian Petroleum Supply Enterprise (EPSE) met 92pc and 97pc of its purchase and sales targets, respectively, stating it has benefitt...


Radar

Digital Pay Uptake Booms Among SMEs, Visa Study Finds

Over 80pc of surveyed small- and medium-sized Enterprises (SMEs) have started accepting digital payments in the last two years, according to a new Visa report titled, ‘Value of Acceptance: Understanding the Digital Payment Landscape in Ethiopia'. Citing increased convenience, the report indicates reduced fraud risk and improved efficiency as factors in the uptake. A substantial 66pc of these SMEs believe that investing in digital payment technologies will support future business growth. The...


Radar

ILO Tackles Agricultural Wage Gap

The International Labour Organization (ILO) launched the Setting Adequate Wages in Agriculture (SAW-A) Project last week, with support from the German Federal Ministry for Economic Cooperation & Development (BMZ), seeking to promote fair wage policies, enhance collective bargaining, and support the establishment of minimum wage mechanisms to improve the livelihoods of agricultural workers. The sector employs over 80pc of Ethiopia's workforce, making it the country's largest employment sec...