Orbit Dive

2021-08-31 07:30:00 Launched in its present form in 2018, TikTok is a popular social media app that allows users to create, watch, and share short videos shot on cellphones.
It is owned by a Chinese company called ByteDance. It had about one billion active monthly users worldwide by the start of 2021.
It has been downloaded 1 billion times on Google Play Store and 200 million times in the US alone.
In Africa, the search interest for the search term ‘TikTok’ was highest in #Ethiopia and Somalia, followed by Algeria. @OrbitET Open / Comment

2021-08-31 06:30:00 Commercial Bank of Ethiopia (CBE) reported a gross profit of 20.3 billion birr for the year ended June 30, 2021. It has 1,700 branches and 31.4 million customers.
With an asset value of 999 billion ETB, the bank has now become 10 times bigger than the largest private bank in Ethiopia. Open / Comment

2021-08-30 17:02:13 Young Founders Programme – Autumn 2021 

A 6-month fellowship for outstanding young entrepreneurs from emerging markets.

Programme Overview

The Westerwelle Young Founders Programme (YFP) is a six-month fellowship for 25 leaders uplifting emerging and developing markets towards a sustainable future.

Kick-Off Conference: A two-day digital kick-off conference will take place in the last week of September 2021;

Remote Programme: From October 2021 – March 2022, the Young Founders will receive six months of support including a personal mentor, alumni buddy, monthly peer mentoring sessions, monthly expert workshops and networking opportunities with corporates and investors.

Berlin Conference: The ten best performing Young Founders will be invited to a five-day conference in Spring 2022.

Deadline: September 3, 2021

https://forms.zohopublic.eu/westerwelle-foundation/form/JobApplicationForm/formperma/xO28npIPuv0UQSk2oMWzjPNJQyrAyJ9qHus1fxrOQP0

@OrbitEt Open / Comment

2021-08-30 06:32:01 2020 Performance Metrics:
Abay Bank

In the year ended June 30, 2020, Abay bank had 223 branches, 3.9K employees and 825K accounts.

It achieved a net profit of 501 million ETB and had a net worth of 3 billion ETB. Its 'Operating Profit per Employee' was 372K.

The efficiency ratio derived by dividing 'Non Interest Expense' by 'Operating Income' less 'Loan Provisions' was 39%. A lower efficiency ratio is preferable: it indicates that a bank is spending less to generate every birr of income. Return on Assets was 2%.

In addition, the ‘Female to Male’ ratio of the Board of Directors of the bank was 1:8.

Ethiopian Business Daily Open / Comment