COVID-19 Cases Spike to Record Highs

Dec 25 , 2021

The number of COVID-19 cases has jumped dramatically over the past week with an average of 2,740 people testing positive each day between December 20, 2021, and December 23. Over one-third of all samples sent to medical laboratories have been coming back positive, though the death toll is far lower than what was observed during the pandemic's third wave between September and October this year. The previous record number of cases recorded in a single day was at the beginning of last April when around 2,370 samples tested positive. Nearly 7,000 people have lost their lives to the virus since March 2020, and around 10 million people have received at least one dose of a COVID-19 vaccine since the Ministry of Health began its vaccination campaign last April.


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...