Semera Industrial Park Nears Completion

Apr 9 , 2022

Executives of the Industrial Parks Development Corporation (IPDC) say that 98pc of construction at Semera Industrial Park in the Afar Regional State has been completed. Eight production sheds have been erected and are ready for use, according to the IPDC. Construction has been underway since 2020, contracted out to the China Communications Construction Company. IPDC executives say the site in Semera will serve as logistics park, linking other industrial parks, due to its proximity to the border with Djibouti. Semera Industrial Park, which covers an area of 2,000ht, is the 13th such project under the IPDC. The federal government began constructing industrial parks over a decade ago in a bid to drive industry-led development. Hawassa Industrial Park, the largest under the purview of the Corporation, was the first to be erected.


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...