IPDC Signs Agreement with Awash and COOP

Jun 26 , 2021

The Industrial Parks Development Corporation (IPDC) has partnered with Awash Bank and the Cooperative Bank of Oromia as its two sole financial service providers. The banks are expected to provide credit services for the Corporation's 800 employees and the its 13 industrial parks it operates throughout Ethiopia. The Corporation, in exchange, will use the two banks to pay salaries to its workers and collect rent from factories having shades inside the parks. While the Corporation has chosen the two banks to oversee its transactions, investors stationed in the parks can choose banks of their preference. The Corporation picked the two financial institutions after shortlisting six banks from 18 interested applicants for the service. IPDC has so far invested more than 45 billion Br in the construction of the parks, which are currently generating 24 million dollars annually through rental fees. It has created job opportunities for more than 76,000 people.


Mobile Apps Streamline Container Handling

A Chinese private logistics company availed its multilingual mobile applications designed to streamline container handling processes for local businesses. Dubbed arl-shipping.com, the apps are available in Amharic, Oromo, Somali, and Tigrigna, with a competitive monthly fee. Company managements aim to tackle inefficiencies by scanning truck license plates, container IDs, and other details, reducing manual data entry and the potential for errors. Users can also record gate movements with times...


Private Investment Takes Flight in Aviation Industry

Local private operators received the green light last week to expand their services beyond charter flights, offering regular passenger and cargo options. This move by the Ethiopian Civil Aviation Authority is expected to boost the air transport sector, attracting private companies to invest in air travel services. The Authority is partnering with private investors to improve air transport infrastructure by building over 21 new airstrips and helipads in previously underserved areas. Officials...


Safaricom Ramps Up Network Expansion with Locally Made Poles

Safaricom Ethiopia has initiated a three-month procurement process to acquire a total of 68 poles from Woda Metal, the first telecom pole manufacturer in the country. The initial batch of 13 poles was delivered last week, marking a milestone as the first use of domestically produced poles in Ethiopia's telecom sector. Wim Vanhellputte, CEO of Safaricom Ethiopia, praised the high quality and affordability of Woda Metal's poles, which will be crucial for their network expansion goals. The co...