Crowdfunding, Remittance App Goes Live

Mar 6 , 2021

A locally developed crowdfunding and remittance application dubbed Cash Go was launched last week. The easy-to-use application is compatible with both Android and IOS devices. The application's remittance services are up to international standards, and the platform is a secure way to instantly send money to Ethiopian accounts from abroad. All transactions will take place via Bank of Abyssinia. Cash Go is also meant to be used for fundraising activities, and the application charges less in commission than other crowdfunding platforms such as GoFundMe. Cash Go charges 0.5pc on each donation transaction, while GoFundMe collects 2.9pc in processing fees and 30 cents from each donation. Cash Go is a sister company to Guzo Go, a travel application, and other companies like Nahoo TV and Rosetta Real Estate.


E-Consultation Portal Launched to Boost Stakeholder Engagement

An e-consultation manual and portal designed to enhance stakeholder engagement in the drafting of laws before their final ratification stage was launched last week. Developed by the Business Environment & Investment Climate (BEIC) project team, the platform operates under the oversight of the Justice and Technology ministries. It aims to improve transparency, efficiency, awareness, and effectiveness throughout the law formulation and enactment process. According to Belayhun Yirga, stat...


Trade Ministry Changes Guard

Prime Minister Abiy Ahmed (PhD) made a series of appointments last week, assigning Kassahun Goffe (PhD) as the new Minister of Trade & Regional Integration. Kassahun, who previously served as the State Minister, succeeds Gebremeskel Chala, who navigated the country through various trade reforms. The appointment comes amidst an export slump, as Ethiopia has faced major economic and political headwinds over the past few years. The Ministry reported a shortfall of 863 million dollars from it...


Ahadu Bank Savours First Taste of Profits

Ahadu Bank registered a 175 million Br gross profits in the ended year, turning around its financial performance. The two-year-old Bank established with 503 million Br in paid-up capital mobilised from 9,600 shareholders has also managed to double the figure to 1.03 billion Br. Ahadu's total assets have also nearly doubled to 6.3 billion Br, while its operating income soared to 1.15 billion Br from financial services for nearly 700,000 customers. It also expanded its branch reach across the c...