Regional Bank Endows Ethiopia with $1m

May 25 , 2019


[ssba-buttons]

Sustainable Energy Fund for Africa, a trust fund administered by the Africa Development Bank (AfDB), gave a grant of one million dollars to upgrade the procurement framework for independent power producers in Ethiopia. The grant, approved on May 17, 2019, is expected to improve the government’s capacity to undertake feasibility assessments of hydropower projects. It will also provide environmental and social impact assessments, resettlement action plans and preparation of bidding documents for hydropower projects. “A well-structured procurement framework is important in mobilising the investments necessary to achieve universal energy access in Africa,” said Wale Shonibare, AfDB acting vice president for power, energy, climate change & green growth. Ethiopia plans to create universal access plans to create new grid access for 8.2 million people and the distribution of power for six million new households from off-grid solar projects by 2025.


Radar

Bank of Abyssinia Signs Partnership with Droga Cooperative

Bank of Abyssinia has entered into a partnership agreement with Droga Health & Financial Savings and Credit Cooperative to provide financial support and services for its members. The agreement was signed yesterday at the Bank's headquarters. The deal aims to strengthen collaboration between the two institutions, enabling cooperative members to access tailored banking services. It was signed by Wosenyeleh Abera, Deputy CEO for Customer Relations and Marketing at the bank, and Zelalem Yilma...


Radar

Wegagen Introduces Real Time SWIFT Tracking

Wegagen Bank has launched a new mobile app feature enabling customers to track international SWIFT payments in real time. The bank is the first in Ethiopia to introduce an online SWIFT payment tracking system. By integrating SWIFT Global Payment Innovation, customers, particularly those involved in import-export trade, can monitor cross-border transactions using a Unique End-to-End Transaction Reference (UETR) directly from their smartphones. To use the service, customers select the SWIFT...


Radar

National ID, Zambia Partners to Expands Program Reach

The National ID Program has signed an agreement with Zambia's counterpart to provide consulting services for the development of software that will issue digital IDs. It is the first time the institution has extended its expertise beyond national borders, a sign of growing recognition for its rapid progress. Program officials described the partnership as a milestone in their effort to position themselves as a regional player in digital transformation. The collaboration is expected to center...