Council Gives Green Light to Digital Strategy

Jun 20 , 2020


[ssba-buttons]

The Council of Ministers has given a green light to the Ethiopian Digital Strategy that was crafted to direct the economy of the country toward tech-led growth. Drafted by the Ministry of Innovation & Technology under the stewardship of Abraham Belay (PhD), the strategy has been in the making for the last year and outlines four pathways to the realisation of digital-led growth. It anchors unleashing the value of agriculture, constructing the next version of the global value chain in manufacturing, building IT-enabled services, and focusing on digital as the driver of tourism competitiveness. The outlined pathways are broken down into three timelines of implementation: short-term, one to three years; mid-term, eighteen months to three years; and long-term, three to five years. The document was reviewed by 11 development partners and civil society organisations, including the World Bank; 18 ministries and representative agencies; and 30 private sector representatives, start-ups and incubator leaders. The 157-page document is aligned with the Homegrown Economic Reform Agenda and the Ten-Year Development Plan, as well as with international commitments such as the Sustainable Development Goals and the African Union’s Continental Digital Strategy.


Radar

Ethiopia, IFAD Sign 69.2m Dollar Deal to Promote Lowland Resilience

The Ethiopian Government and the International Fund for Agricultural Development (IFAD) have signed a 69.2 million dollar grant agreement to implement Phase II of the Lowland Livelihoods Resilience Project (LLRP II). The grant agreement was signed by Finance Minister Ahmed Shide and IFAD President Alvaro Lario. The project targets climate resilience and improved livelihoods for three million people in pastoral and agro-pastoral communities. Co-financed by the World Bank, LLRP II covers eight reg...


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...