Central Bank Nods to Telebirr Credit Services

May 28 , 2022

Regulators at the National Bank of Ethiopia (NBE) have given the go-ahead to Ethio telecom to launch a proposed micro-loan and credit scheme through its Telebirr mobile money platform. The state-owned operator has been launching a slew of products and services in recent months, ahead of pending competition from Safaricom Ethiopia Plc, which won an operators' license after bidding 850 million dollars last year. Earlier this month, Ethio telecom began piloting pre-commercial 5G network services. It also recently launched an online retail platform. Telebirr has facilitated transactions valued at close to 10 billion since it was launched last May. Safaricom Ethiopia was expected to begin commercial operations last month, but has yet to do so.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...