Dashen Bank Grants Funding to Development Projects in Southwest

Sep 10 , 2022

Dashen Bank has granted five million Birr in funding towards development works in the country's youngest regional state. Over one million people in six zones of the Southern Regional State voted in favour of forming the country's 11th regional state, the Southwestern Regional State, during a referendum held in October last year. Last week, Dashen Bank availed 25 million Br in loans to businesses operating in the Gambella Regional State. The credit will be disbursed through Gambella Microfinance Institution. It is not the only one in the industry attempting to penetrate new markets through similar schemes. Last month, Awash Bank launched a programme dubbed “bridge” to reach out to underserved segments of the market through microfinance institutions (MFIs). The Bank has made 5.5 billion Br available in credit for small enterprises and farmers to be disbursed through MFIs in the coming three years.


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...