Corporation to Proffer Housing for Employees

Nov 7 , 2020

The Industrial Parks Development Corporation (IPDC) will offer housing units to 21,000 employees working at industrial parks across the country. Decreasing the turnover of employees through facilitating affordable residential houses for industrial park workers was discussed between Sandokan Debebe, CEO of the Corporation, Aklilu Fikresellasie, UN-Habitat Ethiopian Manager, and Yohanan Eyob, UN-Habitat National Program Officer. The discussion also involved addressing the growing housing demand in light of the inflow of people from across the country into areas where industrial parks are built and made operational. The Corporation is working with city administrations and local and international financial institutions to assist in housing supply for employees of industrial parks based on previously conducted studies. The number of industrial park employees is expected to grow to 250,000 when all completed manufacturing hubs become operational in the future, according to the Corporation.


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...