Pivots in Business Maze


Pivots in Business Maze

A set of projects spearheaded as part of ease of doing business reform with a 7.2 million euro finance from the European Union (EU) is set to improve and navigate the lingering concerns in Ethiopia's business landscape. E-governance projects are undertaken by GIZ International Services and Mckinsey & Company in cooperation with five federal agencies, including the Justice, Trade,  Innovation, Revenues ministries and National Bank of Ethiopia (NBE) are part of the wider plan to improve the digital ecosystem and improve the business climate. The new systems aspire to build an infrastructure that enables the creation of a digital ecosystem with increased interactions and integrated systems across several private sectors. The projects availed last week at Sheraton Hotel, are the E-consultation, E-tax, and development of the credit-rating system (CRS), upgrading E-trade system, E-PPD(Public-private dialogue), and revision of the e-governance proclamation. The project was kicked off in 2021 and was set for next year, overseen by a National Authorising Office. Alberto Gomez, team leader, stated the ubiquity of a web of tangles in the business landscape with bureaucratic hurdles from starting a business, tax payments, obtaining licenses, to access to finance. He stated it is instrumental in curbing such practices and boosting the ease of doing business is electronic alternatives.


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Exchange Ponders Adding Salt to its Floor

The Ethiopian Commodity Exchange (ECX) is considering adding salt to its list as the 24th tradable commodity. Executives are currently conducting feasibility studies and preparing sales contracts. Last week, Ali Muhammed, deputy administrator of the Afar Regional State, and Ali Behani, Head of the Regional Mining Bureau, visited the ECX headquarters in the Mexico area. They said regional salt miners and processors are not adequately compensated for their production, with hopes that the EC...


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Public Service Sector Receives Data Privacy Training

Staff members from the National Bank of Ethiopia, the Ministry of Trade & Regional Integration and the Ministry of Revenues received a three-day training on data privacy and protection over the past week. The training aimed to equip participants with the skills of proper data breach notification procedures, minimising risk of exposure, and secure data transfer practices to safeguard personal data during transmission. It was given by the Business Environment and Investment Climate (BEI...


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Unleashing Millions for Micro-Entrepreneurs with Digital Loans

A 100 million-dollar program to scale up six financial institutions to facilitate digital non-collateral loans to micro, small and medium enterprises (MSMEs) was launched last week. Drawing experience from the first digital non-collateral lending platform dubbed Michu powered by Cooperative Bank of Oromia (COOP), the program coupled with Amhara, Bunna, Enat, Wegagen and ZamZam banks. Last year, Coop dispersed 946 million Br loans to farmers through cooperative unions and MSMEs, reaching m...


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