Meta Abo Gets New Manager

Dec 19 , 2018

Meta Abo Brewery, a Diageo company, announced the appointment of Stephen Nirenstein as its new managing director of Ethiopia, replacing Baker Magunda, who moved to Guinness in Nigeria. Nirenstein has been with Diageo for the past 17 years and has worked in various positions from Brand Analyst in South Africa to Financial Controller in Nairobi. “I am excited to be in Ethiopia and join the Meta family,” said Nirenstein. Diageo is a global company that operates in more than 180 countries with brands that include Johnnie Walker, Crown Royal, J&B, Buchanan’s, Smirnoff and Guinness. Meta Abo Brewery, once a state-owned brewery, was acquired by Diageo in January 2012. Diageo acquired the Brewery for 225 million dollars and since then has invested 119 million dollars into its expansion.


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...