Ethiopian, Abay Join up for E-Payments

Jan 5 , 2020

Abay Bank and Ethiopian Airlines Group have signed an agreement to expand air ticket payment options through the Airline's mobile application. The agreement enables customers to have the option of paying via Abay Bank when they buy their tickets online using their phones. The payment option was first launched on December 13, 2019, advancing the airline's digital service offerings further. After the launch, the airline was able to sell one million Br worth of tickets through the Bank. The Airline's mobile app offers six international and 13 local payment systems, and it is available in three languages: Amharic, Afan Oromo and Tigrinya. Ethiopian has similar agreements with United, Dashen, Commercial Bank of Ethiopia and Awash banks. The nine-year-old Abay Bank had a paid-up capital of 1.7 billion Br in the last fiscal year with the number of its shareholders reaching 4,158. The Bank's mobile banking service has already reached 250,000 customers.


Geda Special Economic Zone Receives Prospective Tenants

East African Holding and Ethio-Chicken have been shortlisted to invest in the Geda Special Economic Zone(GSEZ), located in the tri-state area shared by Mojo, Adama, and Shashemene cities within the Oromia Regional State. The two companies were selected from 120 investors who showed interest in acquiring space in one of the largest SEZs in Africa. Close to 404hct of land has already been developed in the expansive economic zone, out of a potential 24,000 hectares, with lease prices set between...


Standard Institute Revamps Fees, Board Restructuring

The Ethiopian Standards Institute (ESI) is set to introduce fees for standards sticker, establish a new governing board, and address collaboration with other regulatory bodies. The Institute plans to strengthen its financial standing by charging fees for standards and product certification services to support its operations and annual budget. A key change involves replacing the current Council of Standards with an 11-member Board of Directors. The Minister of Trade & Regional Integration...


Safaricom Ethiopia Rolls Out its Network to Tigray

With 125 self-built towers, Safaricom Ethiopia has launched its operations in the Tigray Regional State. Executives disclosed plans to invest in an additional 166 towers and expand their reach to the remaining towns. "This is the most exciting milestone in Tigray since the return of social services," said Getachew Reda, president of the Interim Regional State Administration. In July 2021, the consortium-backed telecom giant entered Ethiopia's market, historically dominated by state-owned E...