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ZamZam Bank Strikes a Pact to Digitise Pilgrimage Packages


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ZamZam Bank struck a deal with Link All Technology S.C. for a product that links to travel agencies and hotel bookings during travels to Saudi Arabia last week. Dubbed Guzo le-Umrah, the product is expected to assist customers who have saved in Mudarabha Hajj & Umrah accounts to facilitate pilgrimage arrangements. Kedir Bedewi, the vice president of the Bank, pointed out that the expansion of branches has to go in tandem with digital banking to warrant operational efficiency. Over 400,000 people from Ethiopia are estimated to yearly partake in the journey to Mecca in Saudi Arabia. Yenus Abdi, the CEO of the tech Company, and Melkia Bedri, president of the Bank, signed the memorandum of understanding at the Al-Nahari Hotel, Ethio-China Street.


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Parliament Receives $237m Development Loan Package

The Council of Ministers forwarded two concessional loan agreements totalling 237.3 million dollars to Parliament for ratification, targeting rural infrastructure and food security. The package includes 46.3 million dollars from the African Development Bank (AfDB) for climate-resilient infrastructure in pastoralist regions. A second credit facility of 191 million dollars (146.1 million SDR) from the International Development Association (IDA) is earmarked for the sixth phase of the Productive Sa...


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MoTRI to Overhaul Consumer Protection Rules Following Cabinet Approval of Trade Policy

The Council of Ministers, led by Prime Minister Abiy Ahmed (PhD), approved Ethiopia's first unified trade policy last week, ending a three-year deliberation period to fill a decades-long regulatory vacuum,. This institutional milestone mandates the Ministry of Trade & Regional Integration (MoTRI) to overhaul consumer protection frameworks, specifically requiring a rigorous revision of the Trade Competition and Consumer Protection Proclamation to eliminate market distortions and the prolifera...


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Regional Power Exports Yield $366m as Capacity Hits 9.6GW

Ethiopian Electric Power (EEP) generated 365.99 million dollars from regional exports in the first nine months of the fiscal year as national capacity reached 9,579MW. The revenue followed the sale of 24,940GWh, representing 91pc of gross generation. Hydropower remains dominant, providing 9,500MW. To diversify assets and mitigate climate risks, the utility integrated the 100MW Asela Wind Power Project. The transmission network has expanded to 148,600km to secure domestic industrial supply and...