Land Corp. Aspires for $2b in Foreign Capital

Oct 22 , 2022

Executives of the federal Land Bank & Development Corporation (LBDC) aspire to lure foreign investment they estimate will reach two billion dollars. They plan to host a two-day investment forum dubbed "Invest Origins" at the end of January next year. They hope the platform will mobilise international capital to diversify investment opportunities in Ethiopia. Land Bank & Development Corporation is one of the 28 corporations under the Ethiopian Investment Holding Group, managed by Mamo Miheretu. The state-owned Corporation envisions placing Ethiopia among the five international investment destinations for property development. It has invited public and private sectors to join the partnership and attract high-calibre investments into the market. The Corporation anticipates making investment deals through joint ventures or partnerships. The Chief Executive Officer (CEO), Lensa Mekonnen, wants to see the forum attract foreign companies from the construction and information communication technology (ICT) sectors to Ethiopia. Baroque Interiors & Events, Mela Events, and Ethel Events & Communications jointly organise the forum to be held in the capital.


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...