Fourth Phase of Sanitation Initiative Kicks Off

May 29 , 2021


The fourth phase of the Community-Led Accelerated Water, Sanitation & Hygiene project (COWASH IV) was kicked off during a ceremony attended by dignitaries of the Government of Finland. The 41-million-euro project targets to provide access to water supply for more than one million people across the country under the supervision of the Ministry of Water, Irrigation & Energy.  The project is set to run from now up until December, 2024, and will be implemented in 99 woredas and 37 zones located in the Amhara, Tigray, SNNP, Oromia, Benishangul-Gumuz and Sidama regional states. The third phase of COWASH, which expired in June 2019, was started a decade ago and was implemented across 76 woredas across five regional states. It managed to build almost 17,000 water points for communities, schools and health facilities.


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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...


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ROLLING CREDIT

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...


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SPREADING HORIZONS

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...