MasterCard Foundation Fund to Ramp up Pandemic Preparedness

May 31 , 2020

The MasterCard Foundation has committed 1.6 million dollars to buffer the ongoing response activities of the Ethiopian Red Cross Society to the Novel Coronavirus (COVID-19) pandemic. The project, which is expected to benefit 5.7 million people, will commence in June 2020 and run for six months. Under the MasterCard Foundation COVID-19 Recovery & Resilience Programme, the committee will address the screening of more than 1.6 million people with the aid of infrared thermostats and target 3.6 million people through house-to-house screenings. It also aims to avail protective equipment and sanitiser to some 3,800 health workers in targeted hospitals and quarantine centres and install handwashing facilities in 20 key locations. “There is no blueprint for navigating this global pandemic. The actions we take now will shape the post-COVID-19 world,” said Reeta Roy, president and CEO of the Mastercard Foundation. The project requires the deployment of more than 700 ERCS volunteers who will serve in coordination with the Ethiopian Public Health Institute and the Ministry of Health's Risk Communication Community Engagement programme.


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...