New Programme Aims to Curb Industrial Park Staff Turnover


The Mastercard Foundation's BRIDGES Programme and its partners are looking to lower the staggeringly high turnover rates at industrial parks through the introduction of a saving and career development scheme. Dubbed 'Tatari,' the platform will match the savings deposited by industrial park employees at the Commercial Bank of Ethiopia (CBE), up to 10pc of monthly salaries for five years. At the end of the saving period, employees will have the option of withdrawing the funds to establish micro and small enterprises. The matching fund will be covered by the employing factories. Aiming to encourage employee retention and prevent staff turnover, which can reach as high as 50pc in a month and even 100pc in three months' time, the saving system was launched two weeks ago. The Mastercard Foundation will provide technical assistance, while First Consult has been chosen as a consulting firm for the project. Two factories inside Hawassa Industrial Park have already showed an interest to implement the project. Almost all industrial park employees are women, who come mostly from rural areas with agricultural backgrounds.


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Coffee Exports Bring in $1.5B in Third Quarter

Ethiopia has earned 1.5 billion dollars from coffee exports over the nine months of the fiscal year. The country had set a target to earn a little over a billion dollars by exporting 201,959tns of coffee during the same period. According to Adugna Debella (PhD), director general of the Ethiopian Coffee & Tea Authority, the export strategy continues to focus on major international markets, with the top 10 destinations, including Saudi Arabia, Germany, and the United States (SU), accounting...


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Central Bank Holds Fourth Exchange Auction

The National Bank of Ethiopia(NBE) sold one dollar for 131.4961 birr in its recent auction. It was reported that 26 banks participated in this auction, which took place last week on Thursday. In a statement issued by the National Bank  following the auction, it was indicated that 70 million dollars was offered for the event. Subsequently, it was reported that 96 pc of the foreign exchange needs of the participating banks were met. In the previous auction, held 15 days ago, the bank had of...


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City Registers 64,075 Births in Fiscal Year

The city has exceeded its birth registration target for the first nine months of the fiscal year, registering 64,075 children—71.15pc more than the set goal of 58,342. This success, with a registration coverage rate of 109.63pc, is largely attributed to the efficiency of the one-centre birth registration service system, which has been rolled out across health centres and courts. The total number of vital events registered, including births, adoptions, marriages, divorces, and deaths, reache...