Three Banks Donate 40m Br to Tourism Fundraiser

Oct 11 , 2020

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.


Mobile Apps Streamline Container Handling

A Chinese private logistics company availed its multilingual mobile applications designed to streamline container handling processes for local businesses. Dubbed, the apps are available in Amharic, Oromo, Somali, and Tigrigna, with a competitive monthly fee. Company managements aim to tackle inefficiencies by scanning truck license plates, container IDs, and other details, reducing manual data entry and the potential for errors. Users can also record gate movements with times...


Private Investment Takes Flight in Aviation Industry

Local private operators received the green light last week to expand their services beyond charter flights, offering regular passenger and cargo options. This move by the Ethiopian Civil Aviation Authority is expected to boost the air transport sector, attracting private companies to invest in air travel services. The Authority is partnering with private investors to improve air transport infrastructure by building over 21 new airstrips and helipads in previously underserved areas. Officials...


Safaricom Ramps Up Network Expansion with Locally Made Poles

Safaricom Ethiopia has initiated a three-month procurement process to acquire a total of 68 poles from Woda Metal, the first telecom pole manufacturer in the country. The initial batch of 13 poles was delivered last week, marking a milestone as the first use of domestically produced poles in Ethiopia's telecom sector. Wim Vanhellputte, CEO of Safaricom Ethiopia, praised the high quality and affordability of Woda Metal's poles, which will be crucial for their network expansion goals. The co...