Ethio telecom Continues 4G Expansion, to the East

Apr 10 , 2021

For the third time since the beginning of this year, Ethio telecom held an inauguration ceremony to kick off its 4G LTE Advanced network. This time, to the east of the country. The latest is the launching of the service in seven towns in Somali Regional State last week, including Jigjiga, the Somali Regional State seat. The project involved installing and commissioning 56 LTE sites, carried out in collaboration with Huawei Technologies. Earlier, the state telecom monopoly with 49 million subscribers inaugurated network expansion projects in the Oromia and Amhara regional states. Over the first half of the current fiscal year, Ethio telecom's revenues rose by 12.3pc to 25.6 billion Br, and the company generated 80.2 million dollars in foreign currency.


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...