Local Firm Steps into Continental Market

Jan 19 , 2019

The Ethiopian Construction Design & Supervision Works Corporation has consulted on two African countries’ construction projects for an estimated fee of two million dollars. The corporation conducted a feasibility study of Rufuji Hydropower Project for the government of Tanzania. The dam has a capacity of generating 2,100MW of electricity, and the report was commissioned for 1.1 million dollars. The Corporation also participated in road construction and consulting of two irrigation projects in Nigeria. The projects, one covering 5,000ha and the other 32,000ha, enabled the Corporation to earn 687,000 dollars. In addition, the firm also constructed a 380Km road project for 226,000 dollars. In the current fiscal year, the Corporation, founded by a trio of government enterprises, has planned to participate in 387 projects and to collect 1.1 billion Br.


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...