Central Bank Greenlights Pioneer Private Mobile Money Platform

Aug 12 , 2023

As the country makes concerted efforts towards digitisation, Kacha Digital Finance Services receives a nod from the National Bank of Ethiopia (NBE) to commence commercial operations following a year of pilot programs. Incorporated in 2019, Kacha received a permit from the central bank as the country’s first private mobile money platform last year. Abraham Tilahun, CEO of Kacha announced his optimism that this commencement will be a crucial step towards accelerating financial inclusion and enhancing accessibility and interoperability. The company has completed its integration with EthSwitch, commercial banks, and other mobile money providers. It allows users to deposit, withdraw and transact using a mobile application or through a USSD code. It will also help users to make top-up payments to public services through the platform. Mobile banking services were limited to banks and microfinance institutions until central bank issued a directive allowing non-financial institutions to join the fray. The state-owned Telebirr has dominated the mobile money market facilitating billions of transactions and amassing more than 34 million customers since its launch two years ago. Safaricom's M-Pesa mobile money service is also slated to launch before the end of September.


Ministry Ponders Tax Waivers for Rural Energy Solutions

Tax exemptions for off-grid energy technologies like solar pumps and mini-grids are under discussion, spearheaded by the Ministry of Water & Energy. Commonly used by rural households, officials disclose their simultaneous plan to develop 300 mini-grids in the next six years. According to Birhanu Weldu, the lead executive of rural energy technology development, the initiative tackles the country's low electrification rate and reliance on charcoal and firewood. Charcoal, fuel wood, and...


Rural Land Proclamation Comes to Light

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Ethiopian Unveils $50m Domestic Terminal Renovation

With a rising demand for domestic travel, Ethiopian Airlines has renovated its terminal at Addis Abeba Bole International Airport with 50 million dollars to handle customers. The expanded terminal has doubled its previous size to 25,750Sqm and accommodates 200 daily flights to and from 22 domestic destinations. It includes four contact gates, 10 remote departure gates, 22 check-in counters with automated baggage screening systems, shops and restaurants. The terminal also features a dedica...