South Korea Backs Africa's COVID-19 Battle

Oct 24 , 2020

South Korea has provided rapid diagnostic tests, dubbed Ag-RDTs, worth close to 6.3 million dollars to the Africa Centres for Disease Control (Africa CDC) through the African Union. The Korea International Cooperation Agency and Africa CDC have signed a memorandum of understanding for a five-million-dollar COVID-19 Comprehensive Emergency Response Programme. The agreement consists of supplies of oxygen concentrators, portable ventilators, arterial blood gas analysers, and laboratory diagnostic tools such as Quantitative Polymerase Chain Reaction (QPCR) machines along with computers, software, accessories and consumables to be used for testing. The Programme includes provisions aimed at capacity building for health workers and experts about clinical management, surveillance and risk communication. So far, the South Korean government has funneled around nine million dollars worth of assistance to Africa, including donations of masks worth two million dollars to 28 Sub-Saharan countries. It has also contributed 420,000 dollars to the African Union COVID-19 Response Fund.


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...