Diaspora Agency Goes Operational

Mar 2 , 2019

The newly formed Ethiopian Diaspora Agency kicked off operations last Friday, March 1, 2019, prioritizing the task of putting in place a system that will enable the government to identify the exact number of Ethiopian diaspora living abroad. The Agency, which operates under the Ministry of Foreign Affairs, was formed a couple of months ago and has been undergoing a structural process. Official launching of the Agency was held last Friday at Sheraton Addis Hotel. The Agency has 53 employees and works with the consulate offices and Ethiopian embassies. The previous bureaucratic system and unsuitable environment for the diaspora will be addressed by the new agency, according to Selamawit Dawit, director of the Agency.


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...