Gelan Gets Food Processing Plant

Oct 12 , 2019

A flour factory built at a cost of over 42 million Br by Oromia Agricultural Cooperative Federation was inaugurated on October 10, 2019. The Plant has a production capacity of 1,200ql of maize flour a day. Moreover, the complex, which is built at Gelan town of Oromia Regional State, has created 200 jobs. The plant will produce maize flour with the objective of meeting local demand and for export, according to Askeberach Belayneh, director-general of the Oromia Agricultural Cooperative Federation. Oromia Agricultural Cooperative Federation, which was established in 2009, has 64 unions under it with over three million farmers and pastoralists as members.


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...