Enat Bank Joins ECX

Dec 29 , 2018

Enat Bank has become the last private bank to partner with the Ethiopia Commodity Exchange (ECX) to run transactions. The agreement was signed between Wendwosen Teshome, president of Enat, and Wendmagegnehu Negera, CEO of ECX. The goal of a modern and robust banking system is to attain increases in exports, according to Wendwosen. “Enat Bank believes it will provide that system by working with ECX,” said Wendwosen. In addition to coffee and sesame, the Exchange will begin trading soybeans and chickpeas starting December 31, 2018. It also opened new exchange branches in Hawassa, Neqemt and Humera recently. So far, there are more than 5,500 bank accounts at the 15 banks involved in transactions at ECX.


Mobile Apps Streamline Container Handling

A Chinese private logistics company availed its multilingual mobile applications designed to streamline container handling processes for local businesses. Dubbed arl-shipping.com, the apps are available in Amharic, Oromo, Somali, and Tigrigna, with a competitive monthly fee. Company managements aim to tackle inefficiencies by scanning truck license plates, container IDs, and other details, reducing manual data entry and the potential for errors. Users can also record gate movements with times...


Private Investment Takes Flight in Aviation Industry

Local private operators received the green light last week to expand their services beyond charter flights, offering regular passenger and cargo options. This move by the Ethiopian Civil Aviation Authority is expected to boost the air transport sector, attracting private companies to invest in air travel services. The Authority is partnering with private investors to improve air transport infrastructure by building over 21 new airstrips and helipads in previously underserved areas. Officials...


Safaricom Ramps Up Network Expansion with Locally Made Poles

Safaricom Ethiopia has initiated a three-month procurement process to acquire a total of 68 poles from Woda Metal, the first telecom pole manufacturer in the country. The initial batch of 13 poles was delivered last week, marking a milestone as the first use of domestically produced poles in Ethiopia's telecom sector. Wim Vanhellputte, CEO of Safaricom Ethiopia, praised the high quality and affordability of Woda Metal's poles, which will be crucial for their network expansion goals. The co...