Capital Gears Up to Host Leather Fair

Jan 21 , 2023

Over 200 tanners, footwear and leather goods manufacturers and garment producers are preparing to showcase their products in three weeks. Close to 17,000 people are expected to attend the three-day event at the Millenium Hall. The Ethiopian Leather Industries Association partnered with the Ministry of Industry, the Ministry of Trade & Regional Integration and the United Nations Industrial Development Organisation (UNIDO) to organise the fair to be opened on February 16, 2023. In the first 10 months of the past year, a little over 33 million dollars was earned in export from the leather industry from the expected 69 million dollars. The Association President, Redman Bedada, said the event would play a vital role in reinvigorating the leather industry and reversing the downturn in the aftermath of the pandemic.


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...