Logistic Lobby Group Enters Deal with East Africa Org.

Oct 8 , 2022

Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and Trade Mark East Africa (TMEA) signed a memorandum of understanding on October 4, 2022, to develop the logistics sector and lessen the shortage of skilled labour in the industry. The project made its first debut in September this year in Dire Dawa City, aiming to have a trained workforce in the free zone. Trade Mark East Africa is an aid-for-trade organization established in 2010, operating on a non-profit basis, and funded by development agencies. It is expanding its operations beyond the Eastern and Horn of Africa region, with an annual expenditure of 80 million dollars. It helps countries shorten transit time for cargo, reduce trade barriers and improve business competitiveness. A statement TMEA issued last week said the deal would deliver a large-scale impact on job creation, poverty reduction and enhanced economic welfare.


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...