Tele, Employees Commit 180m Br for Sheger

May 4 , 2019

Ethio telecom and its employees have pledged 180 million Br for a project to beautify Addis Abeba. Out of the total value, 80 million Br will be contributed by the employees, who will be working for four Saturdays without overtime pay. The remaining will be covered by the company. Kicked off by Prime Minister Abiy Ahmed (PhD), the project is expected to cost 29 billion Br and is aimed at revitalising the rivers and developing riverbeds and riverbanks across Addis Abeba. A pilot project was launched at a cost of 2.5 billion Br. The premier will also host a fundraising gala dinner, dubbed “Dine for Sheger,” where close to 1,000 people are expected to attend in mid-May. They will have to pay five million Birr a plate.


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...