Ministry Reinstates 12,000 Jobs

Aug 29 , 2020

The Ministry of Labor & Social Affairs has reinstated over 12,000 people who lost their jobs after the onset of the Novel Coronavirus (COVID-19) pandemic. It reinstated their jobs after conducting an assessment of the implementation of the COVID-19 Tripartite Workplace Response Protocol, which it crafted in response to the pandemic at the end of March. The protocol was prepared in order to help reduce the effects of the pandemic on the country's economy, sustainability, and the social and economic conditions of workers. Employees from 366 companies in the country were reinstated in their jobs through appeals made to the Ministry based on the Protocol. Through the assessment across 13,437 companies in the country, it reported that over 2,000 companies in the country had been operating with a COVID-19 Task Force specifically created for supervising the implementation of COVID-19 workplace safety guidelines.


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...