Oromia Allocates 3b Br for Job Creation

Oct 19 , 2019

The Oromia Enterprise & Industry Development Bureau has allocated three billion Birr to create 1.1 million jobs in the regional state this year. The Bureau also began giving training to stakeholders in Adama, Oromia Regional State. The training aims to create and improve awareness of small and medium enterprises to be a base for the industrial sector, according to Getachew Geleta, deputy head of the Bureau. Currently, the training is also given in six different Oromia towns. The nation has about 11 million unemployed people, while the capital city has 700,000 unemployed people, about a quarter of the city's population. Two years ago parliament approved a 10 billion Br revolving fund allocated to 2.9 million unemployed youth. Managed by the then Ministry of Youth & Sports, the fund was disbursed through the Commercial Bank of Ethiopia.


E-Consultation Portal Launched to Boost Stakeholder Engagement

An e-consultation manual and portal designed to enhance stakeholder engagement in the drafting of laws before their final ratification stage was launched last week. Developed by the Business Environment & Investment Climate (BEIC) project team, the platform operates under the oversight of the Justice and Technology ministries. It aims to improve transparency, efficiency, awareness, and effectiveness throughout the law formulation and enactment process. According to Belayhun Yirga, stat...


Trade Ministry Changes Guard

Prime Minister Abiy Ahmed (PhD) made a series of appointments last week, assigning Kassahun Goffe (PhD) as the new Minister of Trade & Regional Integration. Kassahun, who previously served as the State Minister, succeeds Gebremeskel Chala, who navigated the country through various trade reforms. The appointment comes amidst an export slump, as Ethiopia has faced major economic and political headwinds over the past few years. The Ministry reported a shortfall of 863 million dollars from it...


Ahadu Bank Savours First Taste of Profits

Ahadu Bank registered a 175 million Br gross profits in the ended year, turning around its financial performance. The two-year-old Bank established with 503 million Br in paid-up capital mobilised from 9,600 shareholders has also managed to double the figure to 1.03 billion Br. Ahadu's total assets have also nearly doubled to 6.3 billion Br, while its operating income soared to 1.15 billion Br from financial services for nearly 700,000 customers. It also expanded its branch reach across the c...