Italy Extends 400,000 Euros in Election Support

Jun 5 , 2021

The government of Italy has donated 400,000 euros to the United Nations Development Program (UNDP) for its "Supporting Elections for Ethiopian Democracy Strengthening (SEEDs)" initiative, which has a total budget of 40 million dollars. The project aims to support the National Electoral Board of Ethiopia (NEBE) to become "a more efficient, transparent and, ultimately, trusted institution," develop the capacity to conduct public outreach and external communication activities and support NEBE and other key stakeholders to identify, manage and respond to electoral violence. The Italy-UNDP collaboration will be managed by the Office of the Italian Development Cooperation Agency in Addis Abeba. The sixth general elections are slated to be conducted on Monday, June 21, 2021.


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

A financial education program targeting youth and Medium & Small Enterprises (MSMEs) was launched by the National Bank of Ethiopia (NBE) last week. It aims to equip interested trainees with personal and professional knowledge through experts from banks and microfinance institutions who will provide comprehensive training. The training modules, developed in collaboration with The First Consult and BRIDGE, cover several angles of financial literacy, including deposits, digital financial servic...


ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...