Ethiopia Hosts World Bank Leaders to Chart a Course for Growth and Development

Jul 29 , 2023

World Bank President Ajay Banga will be in Ethiopia this week with a particular focus on creating job opportunities for women and youth. He plans to visit textile and shoe manufacturing companies and malt producers which source their input from the local farmers while meeting with small-scale business owner women. During the two-day visit, he will meet with Prime Minister Abiy Ahmed, Minister of Finance Ahmed Shide and the Governor of the National Bank of Ethiopia Mamo Mihretu. He will also discuss the partnership between the World Bank and African Union with the African Union Commission Chairperson Moussa Faki Mahamat. Ajay is joined by Victoria Kwakwa, the vice president for Eastern & Southern Africa and Mohamed Gouled, the vice president for industries at International Finance Corporation which will be followed by a visit to Nigeria, Peru, Jamaica and India. The global tour is heralded as a step towards a new direction for the 78-year-old institution.


Addis Chamber Embarks on Leadership Forum

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Wegagen Bank Launches its Mobile App

Embracing the digital realm, Wegagen Bank officially launched its mobile banking application last week. The App was inaugurated in Dire Dewa City, with Yehwalashet Zewdu, vice president of the Bank Enterprise Services, showcasing its service that provides secure and seamless financial services. According to Yehwalashet, Wegagen Mobile meets the evolving needs of its clientele in Amharic, English, Afan Oromo, Tigrigna and Somali languages. Incorporated in 1997, Wegagen Bank has grown to become...


Zemen Bank Joins IFC's Trade Finance Program with $30m Boost

Zemen Bank has secured a 30 million dollar trade finance guarantee from the International Finance Corporation (IFC) to boost the trade finance operations. A member of the World Bank Group, IFC has welcomed Zemen as the newest member of its Global Trade Finance Program aimed at supporting exports and imports. Signed by Dereje Zenebe, president of Zemen Bank and Madalo Minofu, country manager of IFC, the trade financing is part of the one-billion-dollar Africa Trade & Supply Chain Finance P...