Oromia Bank, Ethio Engineering Group Affiliate to Oversee Finances

Ethio Engineering Group partners with Oromia Bank to facilitate its foreign currency needs while it manages its finances through the Bank. President of Oromia Bank Teferi Mekonen inked a mutual agreement with Suleiman Dedefo, CEO of the group, at the Bank's headquarters last week. Ethio-Engineering Group (EEG), formerly known as the Metals & Engineering Corporation (METEC), still has large investments across its nine factories that require a constant supply of industrial inputs from abroad. It has reported a 101 million Br profit as its audit findings were revealed to Parliament last month, with debt obligations from its previous organizational structure remaining frozen. Teferi claimed that the Bank has earned a positive reputation for the timely provision of funds to its customers. Oromia Bank netted a profit of 1.2 billion Br partners with 40 other companies and institutions with similar agreements, according to Abdi Hunde, head of the partnership division at the Bank.


Addis Chamber Embarks on Leadership Forum

A leadership forum where prominent executives will share their experiences in the business environment is organised by the Addis Abeba Chamber of Commerce & Sectoral Association (Addis Chamber) and SAK Training & Consultancy Firm. Headlining Arega Yirdaw (PhD), president of Unity University, who is expected to address the fortunes and adversities of the leadership ecosystem and share insights into his cascade of experiences, the first round is expected to set off at the Inter-luxury H...


Wegagen Bank Launches its Mobile App

Embracing the digital realm, Wegagen Bank officially launched its mobile banking application last week. The App was inaugurated in Dire Dewa City, with Yehwalashet Zewdu, vice president of the Bank Enterprise Services, showcasing its service that provides secure and seamless financial services. According to Yehwalashet, Wegagen Mobile meets the evolving needs of its clientele in Amharic, English, Afan Oromo, Tigrigna and Somali languages. Incorporated in 1997, Wegagen Bank has grown to become...


Zemen Bank Joins IFC's Trade Finance Program with $30m Boost

Zemen Bank has secured a 30 million dollar trade finance guarantee from the International Finance Corporation (IFC) to boost the trade finance operations. A member of the World Bank Group, IFC has welcomed Zemen as the newest member of its Global Trade Finance Program aimed at supporting exports and imports. Signed by Dereje Zenebe, president of Zemen Bank and Madalo Minofu, country manager of IFC, the trade financing is part of the one-billion-dollar Africa Trade & Supply Chain Finance P...