EU Grants €1.2m to Ease of Doing Business Programme

Dec 5 , 2020

The Ministry of Innovation & Technology and the European Commission signed an agreement early last week for a grant of 1.2 million euros to be put toward the Ease of Doing Business Programme as part of the government's continued efforts at digital reform. The Programme mainly focuses on supporting government institutions in the developing of online transactional portals. The grant will be used to incorporate Bahir Dar and Dire Dawa cities into the national business portal. "We aim to contribute to the creation of a conducive business environment and investment climate in Ethiopia," said Sanne Willems, team leader for economy and infrastructure, on behalf of the Commission. The Ease of Doing Business Programme was launched in late 2018 and involves eight institutions working under the Office of the Prime Minister.


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...