Launches Water Payment Services in Major Towns

May 21 , 2022


Residents of seven regional towns now have the option to settle their water utility payments through Ethio telecom's Telebirr mobile money platform. The state-owned operator has availed the services in Arba Minch, Harar, Bahir Dar, Finote Selam, Injibara, Dessie, and Combolcha after reaching agreements with the respective administrations. The Information Network Security Agency's Derash integrated payment platform is a crucial cog in the payment scheme. Officials hope the service will enhance the efficiency of water and sewerage service providers. Customers will be able to settle their bills remotely. Telebirr has garnered over 19 million subscribers since it was launched last May. Over 80 "super-agents", 67,000 agents, and 17,000 merchants have signed on. Ethio telecom began piloting pre-commercial 5G network services in Addis Abeba earlier this month.


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Abyssinia Bank Taps to Digital Loan Solution

The Bank of Abyssinia (BoA) is moving forward to provide banking solutions facilitating microloans. The Bank has hired an Indian-based tech vendor Newgen Software Company, that bagged the international bid on December 22, 2022. Over 10 companies have shown interest in the bid floated by the bank four months ago. The solution provider has committed to completing the project in six months with Yonas Daniel, regional manager for Newgen, and Menbereselassie Gebrekidan, procurement director at Aby...


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ROLLING CREDIT

Bank of Abyssinia rolls out banking services on a truck around Meskel square in the capital. With less than half of Ethiopian adults having access to bank accounts, financial inclusion is a major issue. The central bank revealed in August 2022 that 8,944 commercial bank branches exist in the country. The 30 commercial banks currently in operation offer credit services to less than 400,000 customers charging an average of 17pc interest on asset-backed loans...


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SPREADING HORIZONS

Left) Elias Woldu and Mesnbet Shinkute sign a Memorandum of Understanding on behalf of the Ethio-American and Addis Abeba Chamber of Commerce & Sectoral Association, respectively. Some estimates put the number of Ethiopian diaspora living abroad at over two million people, larger than the population of several small nations. Continued economic and political deprivation has forced many to leave the country for better opportunities. While migration to other countries is still high, the number...