WFP Aid Convoy Arrives in Tigray

Jun 11 , 2022

A convoy of over 300 trucks loaded with food supplies arrived in Tigray Regional State last week, according to the World Food Programme (WFP). The humanitarian assistance is to be distributed to 800,000 people in need in the region. The United Nations Office for the Coordination of Humanitarian Affairs (UN-OCHA) says over 65,000tn of food was brought in to Meqelle, the regional capital, through 18 humanitarian convoys in the two months since April 2022. Return operations are also ongoing in Tigray with 2,645 displaced households comprising over 5,200 individuals returned from Adigrat to their weredas of origin with the support of local authorities and partners, according to a UN report published last week. The UN says a 338 million dollar gap in financing needed to reach an estimated 9.4 million people in need of aid in the Tigray, Amhara and Afar regional states. The WFP plans to start a new, six-week round of food distributions in Afar and Amhara after completing ongoing delivery operations.


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...