Ethiopian to Locally Source Ingredients for Inflight Meals

Oct 17 , 2020

The United States government signed a memorandum of understanding (MoU)with the Ethiopian Airlines Group to assist in sourcing locally-grown and produced ingredients for in-flight meals. The agreement, made through USAID, was signed by Tewolde GebreMariam, CEO of Ethiopian Airlines Group, and Michael Raynor, US Ambassador to Ethiopia. The new partnership will run until December 2022 and provide farmers and producers with technical assistance and access to funds. It will also work on ensuring that the products meet the standard of quality and volume requirements to serve passengers. This business web between farmers and local agribusinesses is expected to open doors to a market with increased total annual revenues as high as 10 million dollars. This will reduce the airline's expenditure for importing supplies and processed foods. The USAID loan facility extends to identifying local suppliers for the list of catering materials that the airline might need in addition to providing support to cooperative unions, youth and women's groups, and other businesses. This support comes through the Feed the Future programme, an initiative launched in 2010 by the Obama Administration to address global hunger and food insecurity.


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...