Financial Institutions to Lease Data Centres from State Telco

May 21 , 2022

Four financial institutions have signed a memorandum of understanding with the state-owned Ethio telecom to lease space at its data centre in the Gola area of Addis Abeba. Zemen Bank, the fully-fledged interest-free ZamZam and Hijra banks, and Rays Microfinance will rent space at the operator's tier-three data centre inaugurated last year. The facility can host up to 800 servers and was built at a cost of 3.5 million dollars. Earlier this year, Wingu.Africa signed lease agreements with five companies in the banking and ICT industries for space at its data centre in the Ethio ICT Park in the outskirts of the capital. Wingu.Africa is among four multinational ICT firms to set up in the Ethio ICT Park, dubbed the "Ethiopian Silicon Valley", after signing agreements with the Ethiopian Investment Commission in late 2020.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...