Ethio-China Bolster Ties Amid Resurgence of Belt & Road Initiative

Aug 21 , 2023


[ssba-buttons]

Exporters and researchers met with enterprise officials from China last week to promote partnerships and explore trade opportunities amid the resurgence of the Belt & Road Initiative (BRI). Deputy Minister of Finance of China, Min Liao urged Ethiopian researchers to develop robust policy recommendations and effectively address the investment challenges in Ethiopia, such as capital, banking, governance, and security issues. Netsanet Jote (Phd), a lead researcher at the Ethiopian Policy Studies Institute, highlighted infrastructure development as the main benefit of the Belt & Road Initiative (BRI). She pointed out significant investments in transportation and energy sectors, such as the Addis Abeba-Djibouti railroad, which improved connectivity and trade and supported Ethiopia's hydropower projects enabling the country to become a regional exporter of clean energy. The initiative helped expand export markets, attract foreign investment, develop industry and promote education and training programs in China. Melaku Mulualem of the Institute of Foreign Affairs stated that the Anti-Counterfeiting Trade Agreement (ACTA) is in development to allow China's participation in free trade, with an expected maturity date of 2024.


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...