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Equb Financial Technologies has signed a partnership agreement with Awash Bank S.C. to promote digital saving services in Ethiopia. Equb Financial Technologies is an Ethiopian startup that has digitized the country’s age-long traditional saving method (Equb) into a digital saving system. The signing agreement signed today aims to expand the startup’s digital presence in the …

Equb Financial Technologies ink partnership with Awash Bank S.C. to promote digital saving in Ethiopia Read More »

Ethiopian Airlines, the leading aviation group in Africa, inaugurated a Silver Lounge, an exclusive facility dedicated to ShebaMiles Silver members. Strategically positioned within the Addis Ababa Bole International Airport, the Silver Lounge offers a serene and engaging environment where passengers can unwind and enjoy entertainment amenities, the airline announced. Source: FBC

 Ethiopia’s Permanent Representative to the UN Offices and other International Organizations, Ambassador Tsegab Kebebew, met with Dr. David Reddy, the Director General of the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA) on August 15, 2024, in Geneva, Switzerland. During their meeting, they discussed potential investment opportunities for local manufacturing of medicines in Ethiopia. Following …

Ethiopia, IFPMA discuss local pharmaceutical manufacturing opportunities Read More »

The Addis Ababa Peace and Security Administration Bureau has implemented a complete ban on sports betting and gambling establishments within the city limits. According to Deputy Head Mideksa Kebede, the decision comes after the closure of 4,118 betting houses during the 2023/24 fiscal year. The city administration has cited the detrimental impact of gambling on …

Ethiopia: Addis Ababa Bans Sports Betting Houses Read More »

SantimPay Financial Solutions S.C. is set to expand its contactless payment network in Ethiopia with plans to deploy over 10,000 Point of Sale (POS) machines within the coming Ethiopian year (2017). The company, which specializes in modernizing payment systems, aims to accelerate the country’s digital transformation. According to CEO Tinsae Dessalen, SantimPay has experienced rapid growth …

Ethiopia: SantimPay Financial Solutions to Roll Out 10,000 POS Machines Read More »

The Ethiopian government announced plans to commence the construction of a railway link between the Awash fuel depot and Djibouti’s Horizon Terminal in the coming Ethiopian year (2017). This project is expected to enhance the oil-loading services provided by the terminal to Ethiopia. The decision to proceed with the project was made following discussions between Ethiopian …

Ethiopia: Government Announces Plans to Begin Construction of Awash Fuel Depot Railway Link with Djibouti’s Horizon Terminal Read More »

The Ministry of Revenues reported that it collected over Birr 512 billion birr was collected during the concluded fiscal year, falling short of the initial target of Birr 529 billion. The Ministry is currently engaging with taxpayers and stakeholders to discuss tax law compliance and the execution of the 2023/24 fiscal year plan. It attributed …

Ethiopia: Ministry Collects Birr 512 Billion in Revenue Read More »

Siket Bank has reported a gross profit of Birr 1.6 billion. This represents a substantial 49% increase compared to the previous year. CEO Damtew Alemayehu unveiled the bank’s financial results during a meeting with staff and board members on Saturday. He attributed the achievement to a combination of factors, including a 30% expansion of total …

Ethiopia: Siket Bank Registers Growth in Fiscal Year 2023/2024 Read More »

Ethiopia has taken a step towards expanding its horticultural exports by signing a Memorandum of Understanding (MoU) with the Common Market for Eastern and Southern Africa (COMESA). The agreement aims to enhance cooperation in the production and export of avocados, onions, and potatoes. The announcement was made during the COMESA Horticulture Forum held in Addis …

Ethiopia and COMESA Join Forces to Boost Horticultural Exports Read More »

Ethiopia raked in over USD 180.45 million from exporting 40,532 tons of coffee in July this year, marking a substantial increase of 132% in volume and 110% in revenue compared to the same period the previous year. Ethiopian Coffee and Tea Authority’s Director General, Dr. Adugna Debala, expressed optimism about the industry’s potential, suggesting that …

Ethiopia Generates USD 180 from Coffee Export Read More »