Addis Abeba Sees Largest Library Inaugurated

Jan 1 , 2022

Abrehot Library, the largest facility of its kind in the country, was inaugurated on January 1, 2022, in the presence of senior government officials including Prime Minister Abiy Ahmed (PhD) and Mayor Adanech Abiebie. Built at a cost of 1.5 billion Br on 19,000sqm of land, the Library is located in the Arat Kilo area, opposite Parliament. The four-storey building's shelves can carry 1.4 million books, and its catalogue boats over 240,000 electronic books, including 300,000 research papers. The state-of-the-art library accommodates a cafeteria, parking lot for over a hundred vehicles, meeting halls, an amphitheatre, playground, and eight shops providing services related to books.


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

A financial education program targeting youth and Medium & Small Enterprises (MSMEs) was launched by the National Bank of Ethiopia (NBE) last week. It aims to equip interested trainees with personal and professional knowledge through experts from banks and microfinance institutions who will provide comprehensive training. The training modules, developed in collaboration with The First Consult and BRIDGE, cover several angles of financial literacy, including deposits, digital financial servic...


ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...