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

New Directive Tightens Rules for Foreign Employment Agencies

The Ministry of Labour & Skills has issued a directive under the Ethiopian foreign employment framework, setting clear standards for agency size, capital, and operations. Depending on their level, newly established agencies can serve between 10 and over 100 workers a day. Office space requirements range from 100sqm to 700sqm, tied to operational scale. Level-one agencies must hold a paid-up capital of 20 million Br and place a security deposit of 250,000 dollars or its birr equivalent...


Radar

Audit Findings Expose Deepening Gaps in Accountability

A new study reveals that audit irregularities in Ethiopia have continued to rise year after year, driven by weak enforcement and unresolved legacy problems. The finding, commissioned by the Office of the Federal Auditor General (OFAG) and conducted by independent researchers from Addis Abeba University, examined audit reports covering 2009–2023. The study attributes the persistent irregularities to limited accountability, poor follow-up, and reduced audit coverage during political transitio...


Radar

Africa Maritime Conference Sets Sights on Seafaring Innovation

The Ministry of Transport & Logistics has launched the first-ever Africa Maritime Conference, marking a bold move to position landlocked Ethiopia as a continental hub for seafaring innovation at a time of global talent shortages. At a pre-conference briefing, Frans Joubert, CEO of YCF Manning Ltd, underscored Africa's untapped potential in the maritime sector. Of the 1.9 million seafarers worldwide, only four percent are African—despite the continent hosting around 150 maritime academie...