Hijra Bank, one of the full-fledged Islamic banks, announces that it is planning to inject and sell new shares with the aim of increasing its capital to 6 billion birr.
On a press conference held on July 7, 2023, the bank which started its operations in August 2021 to provide interest-free services stated that it profit margins grew by 162% for the completed 2022/23 financial year, in contrast to the year prior.
As indicated in the press release, Hijra Bank has been able to increase the number of customers by 122 percent while its total asset increased by 207 percent to seven billion birr in the stated period.
“The fact that Hijra Bank has been able to achieve these multifaceted successes at a time when the banking industry in general is in high competition while the country is experiencing great pressure in the economic sector makes its success doubly successful,” said Dawit Keno, president of the bank.

The bank signaled that it has planned to increase its share holder base, through the bank president who said, “We have prepared a special sale of shares so that our Hijra Bank families who did not have the opportunity to become shareholders during the founding period can become shareholders of our bank, which is making great strides.”
The bank currently has more than12, 000 shareholders,
Hijra Bank a pioneer in technology in the field of interest-free banking services is currently implementing more than 18 modules of the Al Core banking system, which is certified annually by the Accounting and Auditing Organization for Islamic Financial Institutions-AAOIFI, which is used by more than 165 interest-free banks in the world.

African-based agriculture organization, AGRA, unveils its five year strategy to bolster agri-food systems in Ethiopia.
The strategy which aims to strengthen the resilience of smallholder farmers by strengthening seed systems and adopting promotion of sustainable farming practices, is said to be in line with the country’s ten-year economic development plan (2021-2030).
At the launch event held on July 6th, 2023 at the Skylight hotel, Tilahun Amede, head of the AGRA Ethiopia office, expressed that the mission of the organization is to increase the annual agriculture productivity by 30 percent, “The 2023-2027 strategy focuses on improving seeds, creating agricultural efficiency, irrigation, market linkage strengthening of the Small and Medium Enterprises (SMEs) and enhancing the country’s capability to design policies, strategies and flagships for execution and monitoring.”
“By enhancing climate-smart technologies and practices for sustainable farming, the strategy aims to decrease climate change impact on the agriculture sector by 30-40 percent. The strategy is designed to impact up to 2 million farmers in Ethiopia,” Tilahun further highlighted.

Speaking during the launching ceremony, AGRA’s Board Chair and former PM, Hailemariam Dessalegn said, “Agriculture has always been a top priority for Ethiopia as the country seeks to leverage on developing huge underutilized arable land. Modernizing production systems, developing irrigation infrastructure, improving uptake of technology, boosting agricultural export revenues and import substitution, are a top priority for the country. We are committed to work with the government and the private sector to drive innovation and investment in the sector, ensuring that the benefits of agricultural transformation reach all Ethiopians.”
Fikru Regassa, State Minister of the Ministry of Agriculture, said, “We appreciate the invaluable contribution that AGRA has made in our country. I am optimistic that together we can enhance food security in Ethiopia and address our country’s strategic decision to stop relying on imported seed.”
As indicated, the strategy is aligned to the country’s long-term economic development blueprint, 2021-2030, that envisages building a climate-resilient green economy.
“By working together we will boost agricultural productivity in Ethiopia which currently contributes 32.7 percent of the country’s GDP and employs 65 percent of its 110 million people,” the State Minister further cited.
AGRA has invested over $15.5 million, with a focus on enhanced private sector involvement in seed production and distribution. The program has built local capacity to train and mentor seed companies and strengthen local markets by increasing grain quality and reducing aflatoxin levels.
Founded in 2006, AGRA, formerly known as the Alliance for Green Revolution is an African-led African-based organization that seeks to catalyze agriculture transformation in Africa. AGRA is focused on putting smallholder farmers at the center of the continent’s growing economy by transforming agriculture from a solitary struggle to survive into farming as a business that thrives. As the sector that employs the majority of Africa’s people, nearly all of them small-scale farmers, AGRA has recognized that developing smallholder agriculture into a productive, efficient, and sustainable system is essential to ensuring food security, lifting millions out of poverty, and driving equitable growth across the continent.

TECNO, an innovative technology brand with operations in over 70 global markets, has launched its highly anticipated CAMON 20 Series in Ethiopia, marking a significant milestone for the company.
“The CAMON 20 Series is an exquisite masterpiece designed to elevate the photography experience for TECNO Mobile users, catering to the diverse needs of modern consumers,” the company stated.

The event held on July 6, 2023 featured an exclusive fashion show showcasing the designer’s original creations, complemented by the sleek and sophisticated CAMON 20 Series. The smartphone’s advanced camera capabilities, including the exceptional Night Portrait mode and Ultra Night Lens, captured the essence of each design with stunning clarity and precision.
The event was attended by industry leaders, fashion enthusiasts, media representatives, and esteemed guests. The TECNO CAMON 20 Series includes CAMON 20 Premier 5G, CAMON 20 Pro 5G, CAMON 20 Pro, and CAMON 20. Paired with a captivating 6.8-inch display, a powerful Helio G85 processor, and a massive battery capacity, the CAMON 20 Series offers users an unprecedented mobile photography experience and seamless performance.
It is stated that the device features a state-of-the-art AI Quad Camera setup, Super Night Shot algorithm, and a breathtaking 108MP Ultra-Clear lens. TECNO Mobile Ethiopia has been a trusted brand in the Ethiopian market since 2006, providing smartphones with cutting-edge features tailored to the unique needs and demands of the Ethiopian consumer.

The Ethiopian Community Association in Djibouti announces that it needs inclusive support to kick start the construction of its Ethiopian Community School in Djibouti on a parcel of land that it received courtesy of the Djibouti government.
As Ashenafi Marege, Head of Ethiopian Community Association in Djibouti, indicates, despite the process taking several years to come to fruition, with the consistent support of the current Ethiopian Ambassador to Djibouti Berhanu Tsegaye, the government of Djibouti has transferred the title deed of four hectares of land for the establishment of the community school in the country.
According to the Association head, the issue had been of major concern to Ethiopian parents residing in Djibouti.
The Ethiopian community, which comprises the largest foreigner base in the country, normally sends their kids to school in a curriculum different from Ethiopia, which presents a challenge when the students come back to their home to country to continue with their studies.
“Stemming from this issue, for the past several years, the community has expressed its need to establish a school with an Ethiopian curriculum, which has now got a positive response from the Djibouti government,” Ashenafi, who has led the Association for the last 12 years, explained.
“Currently, we have secured a 4 hectare piece of land at Negad, a southern outskirt of Djibouti city close to the railway station,” he stated.
Early last year, Dire Dawa University handed over the building design for free, “As per the design, the project that will accommodate a school system beginning from kindergarten to 12th grade will consume about USD 5.5 million.”
As Ashenafi highlights, “Currently, the Community Association and the facility that was established 35 years ago with the presence of the former Vice President Fisseha Desta has formed a committee that is overlooked by Ambassador Berhanu, and is on the process to mobilize resource to realize the project.”
“We expected support not only from the Ethiopian community but also from the citizens,” he said.
“So far we have been approaching different actors including players at the port area and international organizations in Djibouti. The Djibouti government has provided the land and others are supporting us,” he added.
“Nonetheless, we need to view the case as a symbolic relation for the two countries since the facility will also provide services for both the countries students,” he concluded.
The Ethiopian community in Djibouti is estimated to be about 200,000.