Digital Finance Thespian to Showcase Next Week

Oct 15 , 2022


[ssba-buttons]

Industry operators in the digital financial services sector will showcase their services and products in Addis Abeba next week. Exhibitors from telecommunications, banks, micro-finance, payment service providers, FinTechs, aggregators, and development partners in digital financial services will showcase their works. The Digital Financial Services Working Group-Ethiopia (FSWG-Ethiopia) will launch digital finances and innovations showcase platform aiming to bring industry players. A two-day event starts on October 19 at the Interluxury Hotel in Addis Abeba. Close to 500 attendees are expected to participate. The showcase is hoped to scale up digital financial services by creating an ecosystem that encourages competition and technological innovations. FSWG-Ethiopia, established earlier this year with the support of the United Nations Capital Development Fund (UNCDF), organizes the first edition of the “Digital Finance Ethiopia Showcase” in collaboration with Spectacle Events. Ethiopia has been opening up to the digital financial sector in recent years following the national project on a digital foundation. Two months ago, regulators at the National Bank of Ethiopia (NBE) issued an edict allowing non-financial institutions to operate as payment instrument issuers and operators, ushering in a new era in the financial sector. They have issued permits for the country’s first private mobile money platform, Kacha Digital Financial Services, two years after opening the financial sector to non-financial institutions.


Radar

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...


Radar

City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...


Radar

Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...