Ahadu Bank Enter the Digital Financing Market


Ahadu Bank Enter the Digital Financing Market

Ahadu Bank partners with financial technology service providers to develop digital payment gateways. The Bank sealed a partnership agreement with Chapa and Trusted Tech financial technology companies last week at the Inter-luxury Hotel on Guinea Conakry Street. Sefialem Liben, president of Ahadu, said working with fintech companies is instrumental considering the growing demand for swift and convenient financial services. Ahadu Bank joined the financial sector in July 2022 with 671 million Br capital from its 10,000 shareholders. Since then, it has managed to open 60 branches and renders service to 142,000 customers with an aggregate deposit of 1.2 billion Br.


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Tech Ministry Falters as Audits Expose Mismanagement, Unmet Ambitions

The Ministry of Innovation & Technology is under scrutiny after an audit revealed lapses in project management and financial oversight. This raised questions about governance standards within a Ministry central to the country's tech-driven growth ambitions. According to the Federal Auditor General, the Ministry has completed only 11pc of its planned projects with its overall financial administration standing at 37.4pc for a year-long project that commenced in 2022. Budget mismanagement an...


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Central Bank Keeps Lending Lid Tight as Inflation Squeezes Economy

The Central Bank has reaffirmed its decision to maintain an 18pc cap on credit growth, reinforcing a commitment to tighter monetary policy during persistent inflation and economic uncertainty. The National Bank of Ethiopia's (NBE) monetary policy committee cited ongoing concerns over inflation, which stood at 19.9pc year-on-year (YoY), and liquidity imbalances as reasons to uphold the restriction on lending. Bankers and analysts interpret this move as evidence of regulators' determination to...


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Ethio Telecom Expands Services with DStv Streaming

Ethio telecom enters the entertainment pool with bundled DStv streaming services through high-speed broadband internet and mobile data packages. The partnership with MultiChoice Ethiopia aspires to merge the telecom's fiber broadband and mobile network with DStv's content. Subscribers can access DStv channels through mobile data or fiber broadband bundles, with discounts of up to 35pc through Telebirr or My Ethiotel (*999#) and up to 26.5pc at sales centers for fiber broadband bundles. Acc...