Textile Industry Gets $4.5m Boost

Feb 6 , 2021


[ssba-buttons]

The Ministry of Labour & Social Affairs has launched a 4.5-million-dollar project aimed at providing support to the textile industry. Over 40,000 individuals are expected to benefit from the first phase of the project, which will last three months. The project, carried out in partnership with the International Labour Organisation, is aimed at supporting workers and enterprises in the textile industry who have been impacted by the effects of the Novel Coronavirus (COVID-19) pandemic. Funded by the German Federal Ministry for Economic Cooperation & Development (BMZ), it will focus on covering the wages of employees in the textile industry. A memorandum of understanding on the BMZ's Special Initiative on Training &  Job Creation, entitled "ProAgro Ethiopia – Promotion of Decent Work in Agribusiness", was signed last November between the ILO and the Ministry. The project, which involves the Ministry of Trade & Industry, has a five-million-euro budget.


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...