ECA Launches One-Stop Shop for Finding Data

Aug 16 , 2020

The United Nations Economic Commission for Africa (UN-ECA) launched the first tool that offers a unique view of price variations in African countries, regional economic communities, and at the continental level. Launched virtually on August 11, 2020, the tool brings the prices and exchange rates of all African countries onto one platform that is accessible to citizens, decision makers and other stakeholders. The platform will also provide monthly, quarterly and annual analysis of inflation. The role of national statistics offices and national revenue authorities in ensuring the platform has timely, accurate and up-to-date data will be crucial, according to Vera Songwe (PhD), executive secretary of UNECA. "Lack of price data to enable, monitor, analyse and manage economies through informed policy decisions has often led to civil unrest," she added. The platform is expected to provide data on price movements to gauge how consumer prices are changing, trends in income distribution, poverty levels and income inequalities.


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...