Three E-commerce Platforms Availed Alternative Transactions

Mar 28 , 2020


[ssba-buttons]

The three leading e-payment and e-commerce platforms availed alternative transaction schemes to assist the country as it grapples with the spread of the Novel Coronavirus (COVID-19). M-Birr, Hello Cash and Amole, which have five million users in total, cut transaction costs and introduced alternative transaction mechanisms to their users. "The best thing we can give to support the community as our economy starts to slow down is to save our customers money and keep social distancing using electronic transactions to protect [against] the spread of Coronavirus," reads a statement from the three platforms. With the new scheme, Amole's 2.1 million users will get five percent instant cash back when they transact with over 8,000 businesses that use the system. The new scheme will be effective as of April 30, 2020. M-Birr will also refund all fees for bill payment, money transfer and electronic purchase of goods and services in the month of April. Users can also transfer as high as 14,000 Br to recipients via M-Birr. Hello Cash also offers free sanitary masks for all Hello Market online orders from March 28, 2020, until the end of April.


Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses, this past Saturday, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payme...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...