Abyssinia Bank Ventures into Airline Ticketing

Nov 16 , 2019


[ssba-buttons]

Abyssinia Bank teamed up with Guzo Go to develop an application that provides airline ticketing services for carriers that have destinations to Ethiopia. The agreement brings new service to the banking sector, according to Abiy Sime, director of online banking at Abyssinia, at the launching ceremony of the service held at Hyatt Regency on November 12, 2019. Customers of the bank can go to any of its branches and choose flight destinations by different airlines. The app developed by Guzo Go facilitates the airline ticketing process in Amharic, Afan Oromo, Tigrigna and Chinese languages. The service is expected to cover the gap which is mostly created by miscommunication in the ticketing process and time zone difference. The software minimises the ticketing process and procedures with easy options, and it is functional on Android and iOS systems. The ticketing service will be available for both internal and external flights and extend credit services for customers, according to Bersufekad Getachew, general manger of Guzo Go.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...