Ethio-Djibouti Rail Introduces New Stations to Commuter Service

Feb 26 , 2022

The Ethio-Djibouti Railway has added five new stations to its commuter service from Addis Abeba to Djibouti, bringing the total to 19. The 765Km long railway, which is Africa's first fully-electrified transboundary railway, transported over 77,300 shipping containers between Ethiopia and Djibouti last year. It managed a little over 86 million dollars in revenues over the period, a 37.5pc jump from the figure recorded in the previous year. The Railway's refrigerated train service is an important cog in the export of horticultural products, while other goods it transports include imported fertiliser, wheat, edible oil and vehicles. The Railway transports around a quarter of Ethiopia's export and import freight to and from ports in Djibouti.


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...