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.


Radar

Horn Initiative Boosts Regional Development Agenda

A total of 20 projects worth three billion dollars are currently being implemented in Ethiopia under the Horn of Africa Initiative, which held a performance review platform last week. This initiative, established in 2019, seeks to economically integrate Horn of Africa countries through development projects. Finance Minister Ahmed Shide accentuated the initiative's goals of enhancing infrastructure connectivity, strengthening trade and economic integration, building resilience to natural and man...


Radar

Budget Woes Plague Region

The Amhara Regional State's six-month performance review revealed substantial budget shortfalls, achieving only 28.27pc of its targeted revenue. Chief Administrator Arega Kebede reported to the regional council that of the planned 71.65 billion Br for the current fiscal year, only 20.26 billion Br was collected. Despite this, revenue did see a year-on-year increase of four billion Birr. The regional state's tax-to-GDP ratio stands at a low 2.82pc, far below the national average of 7.05pc. Arega...


Radar

Modern Farming Boosted with New Centre of Excellence

The Agricultural Mechanization Centre of Excellence, built in the Qaliti area with collaboration from South Korea was inaugurated last week. The centre was constructed in seven months at a project cost of 14.7 million dollars funded by the South Korean government. It is expected to serve as a hub for inspecting, controlling, researching, and repairing agricultural mechanization machinery while also providing vocational training to develop skilled personnel in the field. Minister of Agricultur...