Industrial Parks Generate $104m in Half-Year Exports

Feb 12 , 2022

Industrial parks have exported 104 million dollars worth of goods in the first half of the financial year, around a quarter higher than the figure from the same period last year. The Industrial Parks Development Corporation (IPDC) stated it had planned to generate 127.1 million dollars from exports over the six months. The highest revenues were generated from the export of textiles. Hawassa, Bole Lemi and Adama industrial parks take the biggest share among the 13 industrial parks operating in the country. The Corporation also stated three companies that had ceased operations in Combolcha Industrial Park have recommenced their work. Industrial parks employ over 33,000 people.


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...