Gambella Rolls Out 10.7b Br Asphalt Roads Project

Oct 31 , 2022


Residents in Gambella Regional State are getting asphalt roads for the projected cost of over 10.7 billion Br. Under Habtamu Tegegne as its director general, the Ethiopian Roads Administration is constructing seven roads that cover over 500Km. Roads connecting the town of Gambella to Abobo Puneido, Punedo to Jor, and Kalare to Nyingang are among the roads under construction. The Administration opened a construction management office in the area to oversee the project's performance. The road infrastructure strategic plan projects the full construction to take 10 years, with the 76Km road from Abebo to Majang zone completed.


Radar

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...


Radar

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...


Radar

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...