Ethiopia Hosts Its First INDIA-AFRICA ICT Expo

Aug 12 , 2023


A two-day ICT-EXPO geared towards fostering strong business ties between India and African countries was held at Skylight Hotel, Airport Road last week. Close to 45 ICT companies hailing from India, Ethiopia and a few other African countries exhibited their products at the expo that had over 1,000 visitors. Mesenbet Shenkute, president of Addis Abeba Chamber of Commerce & Sectoral Associations (AACCSA) highlighted the capacity to attract foreign direct investment and save currency. "ICT is the order of the day," she said. The Telecom Equipment & Services Export Promotion Council (TEPC) partnered with the Department of Telecommunications of India and the Ethiopian Ministry of Innovation and Technology to organise the expo along with the Indian Embassy. Arun Gupta, Director General of TEPC, suggested that India contains all the necessary ingredients in the telecom sector to build strong relationships and create a wide-reaching telecom network. Indian Ambassador to Ethiopia Robert Shetkintong disclosed that over 300 Indian companies are investing in Ethiopia with six of them being involved in the ICT sector. Balcha Reba, director general of the Ethiopian Communications Authority, indicated that the role of international exposure and exchange of experience is paramount as the telecom sector opens to new operators.


Radar

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the total grant, UNICEF committed 70 million dollars to support its water, nutrition, education, health, sanitation, child protection, and gender projects. Meanwhile, UNFPA pledged 16.1 million dollars for family planning, maternal health, adolescent and youth development, and gender equality and women empo...


Radar

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and 767,672tns of benzene. In the past fiscal year, the digital payment system, Telebirr, facilitated transactions totalling 103 million volumes worth 61.8 billion Br. Of these transactions, 81.39pc were for diesel, while 17.82pc were for benzene. The number of fuel stations increased from 682 to...


Radar

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 billion dollars in remittances, with the Bank's Diaspora banking service and CBE Birr contributing 89.9 million dollars to the total. The performance details were shared during CBE's annual review meeting last week. "This achievement is particularly gratifying given the challenging economic climat...


Back
WhatsApp
Telegram
Email