COWASH Project Secures 1.3b Br

Jan 25 , 2020


The Clean Water & Health Care (COWASH) project, which is being implemented in five regional states, secured 1.3 billion Br in financing. The governments of Ethiopia and Finland have agreed to cover 700 million and 644 million Br of the finances, respectively. The financial and technical bilateral relations to provide clean water and health care between Ethiopia and Finland started 25 years ago. And the project is being implemented in 76 weredasacross five regional states. The current agreement is to provide clean water and health care for residents in Oromia, Amhara, Tigray, Southern Nations, Nationalities, & Peoples', and Benshangul Gumuz regional states starting from next year.


Radar

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...


Radar

ROLLING CREDIT

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...


Radar

SPREADING HORIZONS

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...