News & Insights

African Green Technology Market Development

One of the industries with the fastest growth rates in the world is green technology, which integrates environmental science with innovation to address the climate issue and lessen the adverse effects of technology on the environment. Overconsumption of energy from non-renewable sources worsens environmental degradation, climate change, greenhouse gas emissions, and energy scarcity, all of

Global Energy Trends: What Determines the Price of Crude Oil for real?

In the advent of Ukraine-Russian war, the global economy has faced a turbulent time in terms of inflation, war induced drought, a recession in individual economies and last but not least, shortage and production cuts of petroleum. OPEC+ countries made their second meeting after COVID-19 outbreak in October, 2022 where they agreed to cut 2

The Prospect of Ethiopian Energy Sector for Regional Growth

Ethiopia is the second-largest country in Africa in terms of population and is one of the leading players in the geopolitics of the horn of Africa. It is the seat of the African Union (AU) Head Quarter and the United Nations for Economic Commission of Africa (UNECA). In economic terms, massive investment in infrastructure facilities

Interview With HelloSolar CEO

Mr. Bart Minsaer is a CEO and one of the Founders of HelloSolar with more than 23 years of leadership and operational experience, living and working across Europe, Africa, and Asia. Before Hello Solar, he had experience working in Ethio Telecom as a deputy chief residential sales & marketing officer and BelCash Technology Solutions PLC

Review of the National Electrification Program 2.0

  Title National Electrification Program 2.0 Integrated Planning for Universal Access Date issued 2019, based on the electrification  plan in 2017 Introduction National Electrification Program (NEP 2.0) focuses on integrated—grid and off-grid electricity access—and provides an implementation framework for the achievement of universal access to electricity which is only 44% in 2019. According to a

The Other Side of Ethiopia’s Electrification Efforts: GERD’s Unsung Sibling

          An original piece by Pragma Ethiopia is a country with massive unexploited renewable energy potential, from sources such as hydro power, solar, wind and biogas.  However, the country utilizes a mere 7.5% of that capacity and 90% of the country’s energy demand is fulfilled through biomass such as firewood, charcoal

Ethiopian Airlines and Boeing have Signed Strategic MoU to Position Ethiopia as Africa’s Aviation Hub

Ethiopian Airlines Group and the Boeing company have signed a strategic Memorandum of Understanding (MoU) on positioning Ethiopia as an aviation hub for Africa. Building on the two parties’ seventy years of shared history in aviation, the MoU aims at positioning Ethiopia as Africa’s aviation hub – “Ethiopia for Africa”.    Boeing has recognized Ethiopian as

Ethiopia Unveils Ten-year Power Project Plan

The Ethiopian Electric Power on Wednesday stated that the country plans to build 71 power projects demanding over USD 40 billion over the next 10 years. EEP CEO, Andualem Siae said the project cost is expected to be covered by private and public partnerships, the African Development Bank, the World Bank, other development partners and

Ethiopia Geothermal Project Going as Planned – KenGen

KenGen, Kenya Electricity Generating Company, said the multi-million dollar project it is undertaking in Ethiopia to drill geothermal wells is “on course”, with four sets expected to come to completion before the end of 2021. The company said it is “confident” that it can deliver in time on the geothermal exploration project in the Aluto-Langano area

MoA Finalizes Plan to Provide Land for Oilseed Cultivation

Ministry of Agriculture has completed preparing its plan which will be used to propose cultivation land for edible oil producer industries, Capital has learnt.Though the local edible manufacturing factories have production capacity to fully meet the demand of the country, Ethiopia is forced to import the product because of raw material shortage. On a meeting

EXCLUSIVE Ethiopia to Reopen Bidding for Second Telecoms Licence, Officials Say

Ethiopia will reopen bidding for its second telecoms operator licence this month, two senior government officials said on Monday, including the right to operate mobile financial services. The Horn-of-Africa nation sold only one of two full-service licences on offer in May, citing a lower-than-expected price for the second one, which it now wants to offer

Ethiopia Pulls USD 3.9 billion in FDI

Ethiopian Investment Commission has indicated that the country has attracted 3.9 billion dollars in foreign direct investment during the just completed year 2020/21. Agriculture, manufacturing ICT, power are said to be major investment sectors in the budget year, while the manufacturing sector is the largest in terms of attracting foreign investment.“Improving institutional frame work, modernized

Cement Prices Hike as Gov’t Removes Price Controls

Barely a week after the government set aside its cement market regulatory policy, cement prices have spiked up to as high as 900 Br a quintal, double the official price from two weeks ago. The surge in the price of cement comes at a bad time as cement plants are preparing to undergo maintenance, a

NBE Launches Digital Payment Strategy

National Bank of Ethiopia (NBE) launched National Digital Payment Strategy (NDPS), which will be implemented in the coming three years aiming at digitalizing the financial sector and encouraging the economic growth of the country. Speaking on the occasion, NBE Payments and Settlement System Directorate Director Martha Hailemariam highlighted the importance of the technology in facilitating

Breweries Set to Hike Price

Local breweries in Ethiopia are set to introduce price adjustments to their products due to price hikes to inputs, The Reporter has learnt. BGI Ethiopia, the bottler of St. George, has already adjusted its price weeks ago, attributing the change to a price surge in raw materials. Although the communication head of BGI Ethiopia did

US Didn’t Fund Telecom Consortium

The US International Finance Development Corporation did not release the USD 500 million financing it promised to the Global Partnership for Ethiopia consortium, The Reporter learnt. Hence, the consortium that won one of the two telecom operator licenses for USD 850 million paid from the coffers of the members of the consortium. The other bidder,

Ethiopia Earns $3.6 Billion in Revenue from Export

Ethiopia has earned 3.6 billion US dollars from export of different commodities during the concluded 2020/2021 fiscal year, the Trade and Industry Ministry announced.In the past budget year, the country earned 592 million US dollars more, showing over 19 percent increase from revenue registered in the same period of the previous year.Ethiopia’s export mainly depends

Actis to Purchase East Africa Hotels from South African City Lodge Hotel Group.

Private equity fund Actis will be buying Nairobi’s Fairview Hotel, Town Lodge, and City Lodge Two Rivers from their South African owners at Sh 1billion. This comes at a time when Covid-19 has ravaged the hospitality industry mainly through hotel closures and booking cancelations and only after seven years of operation when City Lodge Hotel

Tana Africa Capital Acquires Stake in African Drinks Business KDV Holdings

Private equity firm Tana Africa Capital has purchased a stake in Kensington Distillers & Vintners, an African premium drinks business focused on beverage manufacturing and distribution.   KDV Holdings owns majority stakes in Truman & Orange South Africa, Monument Distillers East Africa (Kenya) and Monument Distillers Nigeria. Tana’s investment is intended to help KDV achieve

China’s GCL Plans Ethiopian Ammonia Plant and Hydrogen Facilities

Chinese solar panel maker GCL Group plans a plant in Ethiopia to make ammonia using the natural gas produced from fields it has been developing under a deal with the local government, the company said on Thursday. GCL, which is diversifying its business by exploring new energy sources, will also set up facilities with the

DP World to Transform Berbera to A World Class Centre

Leading multinational logistics company DP World is determined to transform Somaliland Port city of Berbera into a major maritime, industrial, and logistics hub in the Horn of Africa, especially for Ethiopian transit cargo. DP World who in partnership with the government of Somaliland opened a new container terminal at Berbera Port, with work underway to

Ride Hailing App Little set to Enter Ethiopia Market

Kenyan ride-hailing firm Little is expanding to Addis Ababa joining Safaricom and several other Kenyan firms in the race to crack the Ethiopian market that has so far remained closed to foreign firms. Little chief executive officer Kamal Budhabhatti told Business Daily the firm will invest $5 million (Ksh540 million) in the next five years,

Djibouti to Sell Minority Stake in State-Run Telecoms Company

Djibouti will offer a “significant minority” stake in state-owned Djibouti Telecom SA to a strategic partner, part of a plan to open up the sector and modernize its economy, the government said in a statement. The country of around 1 million people, located on one of the world’s busiest shipping routes, will be one of

Ethio Telecom Launches Tier III Ready Modular Data Center

Ethio Telecom launches Tier III Ready Modular Data Center further strengthening its 127 years of service to Ethiopia.Dubbed as the biggest Tier III ready modular data center in Ethiopia, the center will facilitate the smooth operation of the recently launched mobile money service, telebirr.The newly deployed data center is located around Gola Sefer, equipped with

Ethiopia Raises $850m from Historic Telecoms Auction

Ethiopia has awarded its first telecoms licence for $850m to a consortium including the UK’s Vodafone in what could herald the start of an opening up of Ethiopia’s closed economy. The consortium, led by Kenya’s Safaricom with Vodafone and Vodacom, also includes British finance development agency CDC and Japan’s Sumitomo. A bid for a second

Consortium Led by Safaricom Wins Ethiopian Operating Licence

Ethiopia’s telecommunications regulator awarded one operating licence to a consortium led by Kenya’s Safaricom (SCOM.NR) Vodafone (VOD.L), and Japan’s Sumitomo (8053.T) Brook Taye, a senior adviser at the finance ministry, said on Saturday. The consortium, which includes Vodacom (VODJ.J) and British development finance agency CDC Group, paid $850 million for the licence, Brook said. South Africa’s MTN (MTNJ.J) had also bid for a licence.

Ethiopia Earns $2.8 billion Revenue from Export

Ethiopia has earned 2.8 billion US dollars from export of different commodities in the past 10 months of the current fiscal which started July 8, 2020. Compare to same period the previous year, the revenue has increased by 16 percent, said Melaku Alebel, minister of trade and industry. In the tenth month of the fiscal

Gov’t Pledges to Fully Liberalise Mobile Money Market in a Year

The mobile money market will be fully liberalised in a year, Ethiopia’s federal government pledged today. Launching a mobile money platform of ethio telecom, Telebirr, Prime Minister Abiy Ahmed (PhD) expressed his administration’s strong desire to open the industry to foreign operators. The announcement comes just two weeks after Ethiopia received only two bids for

Auction for Ethio Telecom Shares Due in Two Months

The Ministry of finance (MoF) has finalized the initial preparations to float an international tender to privatize 40 percent of the state owned telecom giant. Speaking to The Reporter, Minister of Finance, Ahmed Shide said that all the necessary enabling preparations have already been done in order to float 40 percent of the shares to telecom bidders.

DP World Joins Ethiopian Logistics Sector

Dubai Ports (DP) World has joined the Ethiopian logistics sector to develop the Ethiopian side of the Berbera Corridor as a major trade and logistics corridor for international trade routes. Aiming to develop the Ethiopian side of the corridor, the Ethiopian Ministry of Transport and DP World signed a Memorandum of Understanding (MoU) this week

Ethiopian PE Firm Cepheus Capital Backs Textile Maker in Third Deal

Ethiopian private equity firm Cepheus Growth Capital Partners has inked its third deal from its debut fund, making an investment in yarn dyed fabric maker JP Textile. Cepheus, co-led by Kassahun Kebede and Berhane Demissie, is picking up a large minority stake in the textile company, it said Tuesday. It didn’t disclose the amount it

Somali Region Inaugurates Oxygen Plant Amid Pandemic Surge In Ethiopia

Addis Ababa, May 5, 2021 (FBC) – Deputy President of Somali Region, Mustafa Omer along with other high level regional officials has inaugurated an Oxygen Plant that has a capacity of producing 200 cylinders of oxygen per day. The inauguration of the oxygen plant at a time when the pandemic is rapidly increasing and number

Ethiopia Economic Update: Ensuring Ethiopia’s Full Recovery from COVID-19

While external demand remains weak a year into the COVID-19 (coronavirus) pandemic, Ethiopia seems to have been spared from the worst outcomes and is showing some signs of recovery, according to the latest World Bank economic analysis for the country. The eighth Ethiopia Economic Update, Ensuring Resilient Recovery from COVID-19, finds that despite the 4.1% decline

The New ‘jollof Wars’ and Why Twitter Chose Ghana Over Nigeria for its First Africa Base

Lagos, NigeriaTwitter’s announcement Monday that it will set up its first Africa base in Ghana, West Africa, has generated fierce debate among Nigerian users of the social media app, and reignited the never-ending rivalry between the two countries, known colloquially as the ‘jollof wars.’ Many Nigerians believe that Twitter’s decision is a snub to the

Bid for Telecom Licenses Set to Close on Monday

The extended deadline for operators who seek to secure one of two new mobile licenses is set to close on Monday, April 26, 2021 at 10:00 AM, the Ethiopian Communications Authority (ECA) confirmed to The Reporter. Originally, the closing date was scheduled to end earlier this month [on April 5] before the Authority extended it for

TeleBirr to Launch in the Coming Weeks

Ethio-Telecom, the giant telecom service provider in the country is aggressively working to protect its market share plans and is about to start its mobile money service called ‘Tele Birr’ in the coming two weeks.Tele birr is an innovative mobile money solution for Ethio telecom customers, the solution allows customers to store, send, receive, transfer

Experts urge gov’t to Establish Stock Market Intelligence System

Financial experts urged the government to develop a strong intelligence system along with establishing a stock market. A public hearing on the draft capital market bill was convened by the Parliament’s revenue, budget, and finance standing committee on Wednesday. During the discussion, experts from various sectors raised their concerns about insider trading, brokers and employees

Central Bank Increases Minimum Paid-Up Capital to 5b Br

Commercial banks in business have four years to increase their paid-up capital to five billion Birr. Banks under formation that have already raised an equity of over 500 million Br from the public are required to comply in seven years. A directive issued by the National Bank of Ethiopia (NBE) on April 12, 2021, has

Somaliland: Railway to Connect Berbera Port to Ethiopia

The project distribution indicated it is expected to open alternative sea access and important international railway corridor to the country. Ethiopia is considering connecting Berbera Port into Ethio-Djibouti Railway network under the public private partnership (PPP) investment platform. The planned project was not part of the 5,000km railway project that Ethiopia had tabled to develop

Vodafone, MTN Groups Bid for Telecom Licenses in Ethiopia

MTN Group Ltd. and a consortium led by Vodafone Group Plc have bid for telecommunications licenses in Ethiopia, as wireless service providers look to tap the last remaining large market in the world. Ethiopia will take a few days to review the technical offer and then open the financial bids, said Brook Taye, an adviser in the Finance

The Proliferation of Data Centers and their Impact on Digital Transformation

One cannot help but witness, as of recent developments, the announcement of data center inductions as part of a strategic partnership with the Ethiopian government. Prominent examples include the pan-African data center developer, Wingu Africa, aiming to establish its third data center in Ethiopia (next to Kenya and Djibouti), expected to be the country’s first-ever


Addis Abeba, February 17/2021 – Pragma Investment Advisory (“Pragma”) announced its partnership with Specific Tools & Techniques Ltd (“ST&T”), a Nigeria-based engineering and facility management company, with the aim of contributing to Ethiopia’s ambitions in building a world-class telecom sector. According to a statement sent to Addis Standard, the partnership will allow the transfer of

Telecom Privatization Proceeds to go to Industrial Development Fund

Proceeds from the partial privatization of Ethio-Telcom will be deposited in the Industrial Development Fund account opened by the Ministry of Finance (MoF), The Reporter has learnt. While the allocation modalities of the fund will be decided based on a directive by the Ministry, it is expected to be used to develop existing and new industrial enterprises

New Tech Firm to Join ICT Sector With 200 mln Birr Capital

A new tech firm, e-tech, is set to be established with a capital of 200 million birr in a bid to invest in the ICT sector. The firm, in a meeting of its shareholders, disclosed it is under preparation to begin selling shares to the public, though the par value for the share is yet

Ethio-Telecom to Invest in the Financial Sector

The Council of Ministers amends the establishment of Ethio Telecom establishment regulation to boost the telecom giant’s operation besides its traditional telecom service.Sources close to the case told Capital that the regulation amendment mainly targets to allow the state telecom operator to invest in the financial sector.Currently, the government is in the process to partly

A Start-up Raises Money in a Bid to Create Business Benchmarks for Climate Risk.

As companies and regulators increasingly see climate change as a business threat, the data company Gro Intelligence is devising indexes that it says can track climate risks in a granular way — and could create a new class of financial investments. The company is developing indexes to measure conditions like drought, floods, temperature and more,

Ethiopia is Set to End its $3.6 Billion Oil Deal With a Controversial US Firm After Probe

Senior officials at Ethiopia’s Ministry of Mines and Petroleum say the government is set to rescind an agreement with a US-based self-described energy firm after an investigation by Quartz Africa revealed the company had no petroleum industry expertise or technical credentials. “We are in the process of canceling our agreement with the company,” says Dr. Koang Tutlam,

Ethiopian-DHL, AeTrade Group Partner to Transport Historical Parcels Under AfCFTA

Ethiopian Airlines-DHL and African Electronic Trade Group partner to transport historical parcels in the African Continental Free Trade Area. The partnership is meant to invoke the start of trading of the African Continental Free Trade Area market and the operations of the African E-Commerce Platform in the continent. The first batch of the goods has

The World’s Largest Free Trade Area Starts up on Jan. 1, 2021

Jan. 1, 2021 will be a historic day for free trade agreements—but not only because it’s the day the UK and the EU are finally breaking up. While one economic bloc is shaken, another kicks off. On the first of the month, trade will begin within the African Continental Free Trade Area (AfCFTA). Following years

Ethiopia Sets Priorities for Dev’t Corridors, Private Sector in 10-year Nat’l Plan

Addis Ababa December 29/2020 (ENA) The Ten-Year National Development Plan has prioritized development corridors and private sector to ensure Ethiopia’s growth for the coming decade, Planning and Development Commission said. Members of the House of Peoples’ Representatives (HPR) and Planning and Development Commission met on Monday to go through the necessary focal points for the Ten-Year


The Council of Ministers of Ethiopia today approves a draft law prepared by the National Bank of Ethiopia that allows Ethiopia to introduce capital market. After discussing the benefits of capital market and adding inputs, the Council of Minister has passed the draft law. The law is now sent to the House of Peoples Representatives

MinT, European Commission sign agreement enabling digital reform

The Ministry of Technology and Innovation (MinT) and the European Commission have signed an agreement for the implementation of a project that will enable digital reforms under the Ease of Doing Business (EoDB) program. As one of Prime Minister Abiy Ahmed’s (PhD) reform programs, EoDB was initiated to improve the business climate, address the barriers

Ethiopia: How Digital Ethiopia 2025 National Strategy Reinforces Economic Growth

Digital Ethiopia 2025 national strategy set to transform the country’s national economy through four major pathway sectors including agriculture, manufacturing, IT-enabled services and the tourism. The digitization of these sectors is expected to boost the economic transformation of the country in the coming five years to drive its status to the middle-income countries of the

Nokia and Togo Telecom launch West Africa’s first commercial 5G network

Nokia has announced that it has deployed the first commercial 5G network in West Africa. The 5G network was rolled out in Togo and the project is part of Nokia’s three-year contract with Togo Telecom. Nokia said in a statement that this milestone was achieved in Lomé, the capital of Togo. In the bid of

Loan Directive Emerges for Damaged Investments

The National Bank of Ethiopia (NBE) has started the process of drafting a directive to set up loan schemes for redressing investments damaged due to instability. The central bank began the directive following an order from the Office of the Prime Minister. In the making for the past two weeks, the directive will lay down

African Development Bank approves $7 million in SEFA technical assistance to transform mini-grid investment in Africa

(AfDB) – The Board of Directors of the African Development Bank has approved a $7 million grant from the Sustainable Energy Fund for Africa (SEFA), for a new technical assistance initiative meeting the needs of the continent’s fast-evolving renewable mini-grid industry. The Africa Mini-Grid Market Acceleration Programme (AMAP), which aims to expand private mini-grid investment on the African continent, will

Nigeria is now the No.2 bitcoin market on this fast-growing global marketplace

During the police brutality protests in Nigeria in October, bitcoin saved the day when the government shut out protesters from using local payment platforms for collecting donations to support it. The young, tech-savvy protesters quickly switched to using bitcoin, and in about a week bitcoin accounted for around 40% of the nearly $400,000 raised. It was

PM Abiy, President Kenyatta Inaugurate Moyale One-Stop Border Post

Addis Ababa, December 9/2020(ENA)Prime Minister Abiy Ahmed and President Uhuru Kenyatta inaugurated today the 500 kilometres Hawassa-Hagere Mariam-Moyale road project and One-stop Border Post in Marsabit County. The launching of the border post and the 500 kilometers Hawassa-Hagere Mariam-Moyale Road, a key segment of the Mombasa-Nairobi-Addis Ababa Road Corridor and the Trans-African Highway, it was

Dubai investment bank allocates $1bn for Middle East, Africa construction projects

A Dubai-based investment bank has allocated $1 billion to finance active construction projects across the Middle East and Africa. Under a memorandum of understanding with ABiQ Business Intelligence (ABiQ), Global Islamic Financial Services Firm (GIFS) is planning to provide financing and investment for infrastructure projects, government projects and private equity deals. The agreement will see

A Stock Market Will Be A Big Leap Forward For The Financial Sector In Ethiopia

The Council of Ministers, on December 22nd, approved a draft law prepared by the National Bank of Ethiopia that allows Ethiopia to introduce a capital market. The bill is now under review by the House of People’s Representatives for approval. This milestone paves the way for the formation of an Ethiopian stock exchange and conveys

Addis Business Talk with Brook Taye, (PhD)

Ethiopia is considered to be one of the last countries to liberalize its telecom sector. After the Ethiopian government announced it will open the telecom sector for the private sector in 2018, the government kept its promise by enacting a Communication Service Proclamation on August 2019. The Proclamation established a new regulatory body called, Ethiopian

Addis Business Talk, Ethiopia’s First All-English Business Podcast, Goes Fully Digital

Media influences culture and fuels knowledge. It is evidently unimaginable for society to stay educated and informed in the absence of the propagative nature of mass information dispatch that media ushers. ‘Addis Business Talk’ tries to command a vital position in Ethiopia’s nascent business media air waves by generating practical discussions through the conveyance of

Safaricom sees reduction in Ethiopia licence bid price without M-Pesa

Safaricom expects a reduced bid price for the Ethiopian market licence on the news that only the locally owned non-financial institutions will be allowed to offer mobile money services. The telco has disclosed that its interest in the market of 108 million people and about 50 million phone subscribers would only have been significantly enhanced

Transaction advisors wanted for sugar privatization

The Ethiopian Public Enterprises Holding and Administration Agency (PEHAA) called for expression of interest from potential firms to advise the government on the transaction for the privatization of eight sugar factories. Part of the government’s wave of privatization plans, the eight sugar factories that will be placed for sale are Welkayit, Tendaho, Kesem, Omo Kuraz-1,

Ethiopia’s WTO accession at risk of delay due to COVID-19

Ethiopia’s plans to join the World Trade Organization (WTO) in less than two years could be delayed due to the Coronavirus pandemic. Minister of Trade and industry, Melaku Alebel, told The Reporter this week that discussions and further talks on accession have been halted as a result of the COVID-19 pandemic. Ethiopia’s accession to the WTO has

Indonesian pharmaceutical and food processing companies to invest in Ethiopia

At least two pharmaceuticals and one food processing Indonesian company have finalized their business assessment to invest in Ethiopia, the Indonesian Ambassador to Ethiopia Al Busyra Basnur told The Reporter on November 5, 2020. Already in the process of venturing into the Ethiopian economy when the Coronavirus pandemic struck, the companies are said to be waiting for

Ethiopia secures USD 1.1bln in FDI inflows: UNCTAD

Half year receipts show 12 pc decline The United Nations Conference on Trade and Development (UNCATD), in its Investment Trends Monitor Report released this week, indicated that Ethiopia remains relatively stable drawing USD 1.1 billion in Foreign Direct Investment inflows during the first half of 2020. The report highlighted that while Sub-Saharan Africa has experienced

East Africa advances discussions to develop Harvest Project, Ethiopia

VANCOUVER, BC, Nov. 25, 2020 /CNW/ – East Africa Metals Inc. (TSX-V: EAM – “East Africa” or the “Company“) is pleased to announce Company management is advancing discussions with potential mining partners for the development and operation of the Harvest Copper-Gold VMS Project in Ethiopia. The Company currently owns 70% of Harvest Mining PLC (“Harvest“) through its wholly-owned subsidiary, Tigray Ethiopia Holdings

Ethiopia Invites Chinese Steel Companies to Explore Investment Opportunities

ADDIS ABEBA – The Ethiopian government has invited Chinese steel companies to explore investment opportunities in Ethiopia amid the East African country’s booming construction sector. This came as Ethiopia’s Consul General in Chongqing, China, Anteneh Tariku, held “a fruitful discussion” with Zhang Yong, Vice President of Chongqing Iron and Steel Design Institute (CISDI Group) in


Promoted by Digital Africa and deployed by Proparco, the Bridge Fund by Digital Africa is intended to be an appropriate response to the challenges confronting young innovative African companies, whose development is harmed by the economic impact of the Covid-19 pandemic A new financial instrument to help mitigate the economic crisisThe Bridge fund has been

African fintech startup Chipper Cash raises $30M backed by Jeff Bezos

African cross-border fintech startup Chipper Cash has raised a $30 million Series B funding round led by Ribbit Capital with participation of Bezos Expeditions — the personal VC fund of Amazon CEO Jeff Bezos. Chipper Cash was founded in San Francisco in 2018 by Ugandan Ham Serunjogi and Ghanaian Maijid Moujaled. The company offers mobile-based, no fee, P2P payment services in seven countries: Ghana, Uganda, Nigeria, Tanzania,

Communications Authority Releases RFP for Telecom Licenses

The Ethiopian Communications Authority, the telecom and radio frequency regulator, launched a request for proposal (RFP) to issue full telecommunications licenses to two operators. Issued on November 27 (2020), the RFP will remain open for 90 days. For the expression of interest the Authority announced last May, a total of 12 companies have expressed their

Pragma Technologies Partners with Simulants to Provide ICT and Industrial Training in Ethiopia

Pragma Technologies, an extended wing under Pragma, which is a technology service management platform that promotes regional and international partnerships, is announcing an alliance with Simulants (Pty) Ltd, a South African technology-based training and development company. Pragma will officially represent Simulants in Ethiopia where a sizable gap has been identified in the area of human

Pragma Technologies to Support Ethiopia’s Drive toward Digital Transformation

  Pragma is joining forces with prominent technology companies to foster an atmosphere of technological learning and digital exposure for the Ethiopian public and private sectors. Mainly focused on telecommunications, financial technology, enterprise resource planning, ICT training, and e-commerce, Pragma Technologies is a platform that renders research, analysis, workforce recruitment, and legal advice services for

Currency Revamp Spurs Rush for New Bank Accounts in Ethiopia

Ethiopia’s effort to stamp out counterfeiting by introducing new currency notes is pulling people who’ve never had a bank account into the financial system. At least 1.3 million previously unbanked Ethiopians have handed in their two-decade-old banknotes over the past month since the demonetization process was started, Prime Minister Abiy Ahmed told lawmakers on Monday.

Ethiopia’s economy grew 6.1% in the 2019/20 fiscal year – prime minister

NAIROBI, Oct 19 (Reuters) – Ethiopia’s economy grew 6.1% in the 2019/20 (July 8-July 7) fiscal year, its Prime Minister Abiy Ahmed said on Monday. In June, the Finance Ministry had said the economy had been projected to grow 9% for the period. “For eight months we registered a healthy economic growth but after that,

Pragma Facilitates Investment In Ethiopian Textile

Pragma has announced a greenfield investment in Dante Manufacturing PLC (“Dante”), a socks manufacturing company based in the city of Bahir Dar, Ethiopia. Pragma holds minority equity in the business along with other investors, including the chairman of Kazana Group, Addis Alemayehou. Pragma has also played an important role in facilitating the investment, beginning from

Planning Commission to implement a 10-year economic plan

The Plan and Development Commission has said preparations for the 10-year perspective economic and development plan has been finalized and will enter an implementation stage next month. Fitsum Assefa (PhD), Commissioner of Plan and Development, on Thursday told reporters that after six months of public consultations and preparations, the 10-year plan is about to be

Ethiopia will soon have a Tier 3 national data center

(Ecofin Agency) – The government of Ethiopia will soon build a national data center that is Tier 3 certified, meaning highly resistant to power interruptions and offering 99.982% data access availability. The Ministry of Innovation and Technology has completed the facility’s preliminary design and is now seeking a company for a design-build contract. The related

Ethio telecom to launch mobile money

Eyes USD 1.8 billion in revenue from infrastructure lease After series of negotiations and deliberations, the National Bank of Ethiopia (NBE) has finally given the greenlight to the national telecom company, Ethio telecom to start mobile money services. Ethio telecom has submitted its application to the NBE asking for license to launch a mobile banking


Addis Abeba, September 25/2020 – A group of investors has created the Addis Abeba Angels Network, the first in Ethiopia. Except for Bank Loans and Venture Capital entities, Ethiopia does not have an adequate funding mechanism that targets early-stage innovative start-ups. “Entities need to exist that are willing to invest in high-risk ventures to build a

DFC Backs $1.55 Million for Tulu Moye Power Project in Ethiopia

First use of agency’s technical development program speeds critical project WASHINGTON – U.S. International Development Finance Corporation (DFC) has committed $1.55 million in technical development for the Tulu Moye Geothermal Power Plant Project in Ethiopia. DFC’s grant will enable project development and accelerate the schedule to design the 50-megawatt geothermal power plant. When completed, the

Ethiopian Airlines to Serve More Locally Produced Food In-Flight

Ethiopian Airlines and the Government of the United States through its development agency, U.S. Agency for International Development (USAID), forged a partnership to engage local farmers and food producers in supplying locally produced food in flight in Africa’s most successful and profitable airline. The partnership was announced yesterday by the soon to be departing American

Raxio to build Ethiopia’s first Private data Centre in Addis Ababa

The Raxio Group (Raxio) has acquired land at the ICT Park, in the outskirts of Addis Ababa, Ethiopia, to build the country’s first private uptime certified Tier III colocation data centre. The site, granted through Raxio’s fully owned subsidiary in Ethiopia, Raxio Data Centre PLC (Raxio Ethiopia) is set to be commission in the third

Family Milk of Ethiopia to Commence export

Family Milk, one of the top dairy product brands in Ethiopia processed by MB-PLC, is set to commence export of its new long shelf life product, company CEO said. Speaking to New Business Ethiopia, Hailu Eshetu, CEO of MB-PLC indicated that the company will soon be engaged in exporting dairy products, which has up to

Fintech & Digital Economy: The Ethiopian Perspective

Fintech & Digital Economy_Ethiopia_Report[Pragma]Download

Hospitality, tourism sectors land 3.3 bln bailout fund

16 May 2020 By Birhanu Fikade   In the midst of cascading events the novel coronavirus pandemic has unleashed, the hospitality and tourism sectors, one of the hardest hit sectors, has been granted a 3.3 billion birr short term financing bailout to aid in working capital shortages and salaries. The National Bank of Ethiopia (NBE) has

DBE gets significant capital injection

By Metasebia Teshome   May 11, 2020 The Council of Ministers has approved to increase the authorized capital of Development Bank of Ethiopia.According to the report released by the Council of Ministers it approved to increase the authorized capital of the bank to 28.5 billion birr by adding 21 billion birr. Currently the authorized capital

Locust swarm will multiply 20 times in coming years if not contained

The locust swarm in horn of Africa is expected to grow by another 20 times more over the coming years if the fight against the locust does not increase from the current state in the areas.According to the Food and Agriculture Organization of the United Nations (FAO), more needs to be done to prevent a

Electronics transaction proclamation comes to effect the same day House ratifies it

By Muluken Yewondwossen   May 31, 2020 In an unusual trend the House of Peoples’ Representative approves the electronics transaction proclamation to be in effect as of the day the house ratifies the proclamation.The draft proclamation has been under review by Human Resource and Technology Affairs Standing Committee for almost a month since it was

Gemcorp to supply NDRMC with 200k mt of wheat

30 May 2020 By Samuel Getachew     Gemcorp has further expanded its partnership with the National Disaster and Risk Management Commission (NDRMC) and is set to supply NDRMC with 200,000 metric tons of wheat. This comes as the company, the newest entry to the supply market was first introduced in early 2018. So far, the company has managed

Ethiopia to Steer Economy Through Tech-led Growth

The Ministry of Innovation & Technology tabled a digital economy strategy that is designed to lead the economy toward tech-led growth to the Council of Ministers for a final blessing. The 157-page document was drafted in line with the Homegrown Economic Reform Agenda and the National 10-year Plan. It deliberates on the current bottlenecks limiting

Coronavirus – Africa: The economic impact of COVID-19 on African cities likely to be acute through a sharp decline in productivity, jobs and revenues, says ECA

As part of its analysis to inform COVID-19 policy responses, the Economic Commission for Africa, is calling for adequate consideration of the vulnerability of city economies as African governments consolidate efforts and define stimulus measures to mitigate national and regional economic impacts. “As engines and drivers of economic growth, cities face considerable risks in light of COVID-19

Central Bank Hopes Cash Withdrawal Limits Promote Non-Cash Payment Instruments

The central bank’s imposition of limits on cash withdrawals by savers and businesses targets payment instruments other than cash, thereby mitigating liquidity crunches and reducing note printing costs, as well as fighting fraud, its officials said today. The National Bank of Ethiopia’s (NBE) directive released today limits daily and monthly cash withdrawals of businesses to

Let the competition begin!

By Samuel Gebre | May 27, 2020 One of the world’s few remaining state telecoms monopolies is on its last legs Last week, Ethiopia issued a call for bidders that could finally see Africa’s second-most populous nation get two private telecom operators. The Expression of Interest (EOI) process, facilitated by the International Finance Corporation, the World Bank’s

Addis Business Talk is live! A Radio Show About Business For The English Speaking Community

 ‘Addis Business Talk’ is the first all-English business focused weekly radio show and podcast broadcast from Ethiopia, conducts interviews with individuals of significant influence by covering the most timely and pressing issues revolving around the areas of business and economic policy in Ethiopia and the rest of Africa, and is hosted by Kalid Mawi and

Within the construction industry as their overdraft

Many businesses, large and small, have a huge source of great ideas that can help them improve, innovate, and grow, and yet so many of these companies never think of using this amazing corporate asset. What is this highly valuable asset? Its own people.

Strategic and commercial approach with issues

Says Morgan Fraud, the author of The Thinking Corporation, “Given that we are all capable of contributing new ideas, the question becomes how do you successfully generate, capture, process and implement ideas?” Becoming an organization capable of answering this question can benefit in a number of ways

Seven weeks working ‘pro bono’ with a charity

Growth through innovation/creativity. Rather than be constrained by ideas for new products, services and new markets coming from just a few people, a Thinking Corporation can tap into the employees.

Retail banks wake up to digital lending this year

The effort vastly improved the company’s planning and execution functions, created and implemented a new stock policy that accounted for specific SKUs and key variables, streamlined the order preparation process and reduced distribution transport times.

A digital prescription for the pharma industry

Supported by a robust sales force and tight cost controls, Pharm Ltd. experienced sustained double-digit growth over a number of years, only to find that their supply chain struggled to keep pace. In particular, the initial state of the company’s sales.

Harvest great ideas from your company’s best assets

In particular, the initial state of the company’s sales and operations planning capabilities limited their ability to account for demand variability or raw material lead times in production and distribution. Improve sales and operations and production planning.

Three Social Media Hacks for the Busy Entrepreneur

The teams focused their efforts on a few of the highest-value S&OP levers in order to review the current planning process, identify gaps in the planning infrastructure and analytically understand demand and supply variability.