Three Banks Donate 40m Br to Tourism Fundraiser

Oct 11 , 2020


[ssba-buttons]

Oromia, Wegagen and Berhan banks have joined the bandwagon in buying 40 million Br worth of tickets to attend Dine for the Nation, a gala dinner hosted by Prime Minister Abiy Ahmed (PhD) to raise funds for the development of tourist destinations sites in three regional states. Berhan Bank bought two tickets worth 20 million Br to attend the gala dinner, which is expected to take place in mid-October. Following the recent currency changeover, the Bank announced that 586 million Br was accrued and that 22,781 new accounts have been opened. Oromia International, which has gained 45,000 new accounts and 570 million Br worth of deposits since the currency changeover, bought one ticket for 10 million Br.  Wegagen Bank, which finalised the distribution of the new notes at its 391 branches and raised 908 million Br of deposits from 30,000 new accounts, has bought a ticket as well. The proceeds will go toward rehabilitating tourist sites located at Gorogora in Amhara; Wonchi in Oromia; and Koisha in Southern Nations, Nationalities & People's Regional State. A total of six billion Birr is required for the projects with half of the value to be raised from the fundraising dinner. Tickets for Dine for the Nation cost 10 million Br and five million Birr for VVIP and VIP, respectively. So far, Abay, Awash and Dashen banks have committed a total of 70 million Br for the projects.


Radar

Milkii App Disburses 25 Million Br in Collateral-Free Loans in Two Months

Oromia Bank's new collateral-free digital lending app, Milkii, has disbursed 25 million Br in loans without requiring collateral. Of this, 16 million Br has already been repaid, generating 1.4 million Br in revenue within just two months. Developed in partnership with Quantum Technology PLC, the app plans to make lending more accessible and inclusive, aligning with Oromia Bank's contribution to the Digital Ethiopia initiative. According to a press release, Milkii promotes financial inclusi...


Radar

Ethiopia Partners with UK to Ease Shipping Bottlenecks

The Ethiopian Freight Forwarders & Shipping Agents Association (EFFSAA) and the British International Freight Association (BIFA) signed a memorandum of understanding (MoU) on May 27, 2025, at Hyatt Regency Addis Abeba, to address skills gaps, customs delays, and corridor inefficiencies in the freight and logistics sector. The partnership focuses on technical cooperation, training, and regulatory reform. With over 90pc of trade dependent on the Djibouti corridor, rising congestion, customs...


Radar

Education Authority Sanctions Mishqen College for Rule Violations

The Education & Training Authority has issued a decisive directive last week, mandating legal action against Mishqen College for persistently defying regulatory orders and unlawfully continuing to offer higher education services. Mishqen College had previously been licensed to conduct undergraduate distance learning programs across multiple regions from 2019 to 2022. However, after serious regulatory breaches, the institution was ordered to cease all instruction, complete pending academic...