GREEN TIDINGS


GREEN TIDINGS

A row of kiosks around the Stadium area were painted green to mark their functions as Telebirr agents. Ethiotelecom's two-year-old mobile banking platform has stormed the digital finance landscape, reaching 34 million subscribers. The preferential access given to the state operator in facilitating several utility payments and its near monopoly over fuel payments has set up the centenarian service provider with a comfortable cushion in the foreseeable future. While Safaricom Ethiopia's M-pesa service launched in late September, it must significantly penetrate the market to catch up to state-owned telco's access to more than 70 million mobile subscribers. The scope and ease of use of digital finance tools are set to disrupt the long-standing dominance of the traditional banking industry in the coming few years, especially in Africa.

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Radar

New Directive Hikes Service Fees for Foreign Investors in Free Trade Zones

The Ethiopian Investment Board has issued a new directive revising the service fees from foreign investors payable in dollars to the Ethiopian Investment Commission (EIC), introducing updated rates for both the One Stop Shop and designated Free Trade Zones. The revised directive came into effect this April following its publication on the websites of the Ministry of Justice and the EIC. Issued pursuant to Article 23 of the Special Economic Zone Proclamation, the directive outlines charges for...


Radar

City Tables 350B Br Budget Plan for Upcoming Fiscal Year

The City Administration has approved a resolution to submit a proposed budget of 350 billion Br for the 2025/26 fiscal year to the City Council for deliberation. According to the Administration's statement on its official social media page, the draft budget is designed with a central focus on poverty reduction, encompassing targeted subsidies for sustainable development, investment in large-scale job-creating projects, and enhanced service delivery to address the growing demands of the reside...


Radar

Ethiopia, UN Launch Joint Plan to Drive Development Through 2030

The Ethiopian government and the United Nations (UN) have signed a five-year development plan outlining national priorities from 2025 to 2030. Signed on June 20 at the Ministry of Finance, the United Nations Sustainable Development Cooperation Framework (UNSDCF) with implications that it aligns with Ethiopia's reform goals and the Sustainable Development Agenda. The plan is backed by a projected 6.5 billion dollars, though only 1.5 billion dollars is currently secured. It focuses on closing t...