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Innovation Ministry Taps KPMG for Startup Consulting, Policy Reform

Jul 13 , 2025

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The Ministry of Innovation & Technology has inked a strategic partnership with KPMG East Africa in a bid to bolster Ethiopia’s fledgling startup ecosystem. The collaboration will cover early-stage consulting, policy formulation, incubator support, and capacity building for public innovation institutions. Bayissa Bedada (PhD), state minister at the Ministry, underscored the initiative’s alignment with the “Digital Ethiopia Strategy” under the government’s 10-Year Development Plan. Vasken Sissian, associate director at KPMG, said the firm plans to blend global expertise with local insight to help drive inclusive economic transformation. A joint working group has been tasked with drafting an action plan and rolling out pilot projects. KPMG East Africa, which operates in Ethiopia, Kenya, Uganda, Rwanda, and the DRC, will lead several innovation-driven projects across the region.

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NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...

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Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...

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Export Recovery Gains Ground, Industry Still Lags Potential

The Ministry of Industry (MoI) has reported a modest rebound in Ethiopia's manufacturing exports, with revenues climbing eight percent in the 2025 fiscal year to reach 318 million dollars. Minister Melaku Alebel attributed the growth to a gradual sectoral recovery but acknowledged the figures remain well below the country's industrial potential. Speaking at a forum held with 60 top-performing manufacturers, Melaku said the ministry is working to unlock bottlenecks and improve coordination. Th...

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