Diaspora with 35b Br in Capital Receive Licenses in First Quarter

Nov 23 , 2019


[ssba-buttons]

More than 1,032 diaspora investors with a registered cumulative capital investment of over 35 billion Br received investment licenses in the first quarter of the current fiscal year. "The participation of the diaspora business community has become increasingly notable in such sectors as tourism and investment, which have benefited from the transfer of knowledge and technology," according to Awlachew Masre, the Ethiopian Diaspora Agency’s engagement coordination director. The director also noted that more than 4,000 accounts have been opened by the diaspora community at various local banks in the country with deposits of more than 7.9 million dollars. The Agency conducted a consultative forum from November 16–17, 2019, involving federal and regional stakeholders, including representatives from the regional Diaspora Coordination Offices and Diaspora Associations who presented their performance reports for the first quarter of the fiscal year.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...