Head of Djibouti Port Laid to Rest

Oct 12 , 2019

Djibouti President Ismail Omar Guelleh’s brother and Head of Port of Djibouti Sa’ad Omar Guelleh passed away on October 7, 2019, at the age of 78. Sa’ad passed away while he was under medical treatment in Paris, France. His body was laid to rest on October 10, 2019. Sa'ad, who started as his career as a technician, has over four decades of experience in the port industry working in various capacities from technical staff to management at the Port of Djibouti, which Ethiopia uses to import all its liquid and dry cargo. He has been leading the Port, which is a major income generator for the tiny country in the Horn of Africa. Ethiopia is the major user of the Port, bringing in 67pc of all imported containers via the Port. The Ethiopian Shipping & Logistics Services Enterprise imports 190,000 twenty-foot equivalent unit containers (TEU) a year through this port.


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...