MasterCard Foundation Takes Root in Addis

Sep 7 , 2019


[ssba-buttons]

Ethiopia signed an agreement with MasterCard Foundation that enables it to open a branch office in Addis Abeba. The agreement was signed between State Minister for Foreign Affairs Markos Tekle (PhD) and Alemayehu Konde, MasterCard Foundation Ethiopia Representative, on September 6, 2019. “I’m happy by the decision of the Foundation to open its branch office in Addis Abeba,” said Markos. “The opening of the office will contribute its share for the achievement of the plan set by the Ethiopian government to empower women and youth.” “Ethiopia is one of the ten strategic nations selected by the Foundation for financial and technical support in the areas of agriculture, manufacturing, tourism and other sectors,” said Alemayehu. About 70pc of beneficiaries of the employment opportunities will be women, he said. Headquartered in Toronto, Canada, MasterCard Foundation is a global foundation established by MasterCard in 2006.


Radar

New Directive Tightens Rules for Foreign Employment Agencies

The Ministry of Labour & Skills has issued a directive under the Ethiopian foreign employment framework, setting clear standards for agency size, capital, and operations. Depending on their level, newly established agencies can serve between 10 and over 100 workers a day. Office space requirements range from 100sqm to 700sqm, tied to operational scale. Level-one agencies must hold a paid-up capital of 20 million Br and place a security deposit of 250,000 dollars or its birr equivalent...


Radar

Audit Findings Expose Deepening Gaps in Accountability

A new study reveals that audit irregularities in Ethiopia have continued to rise year after year, driven by weak enforcement and unresolved legacy problems. The finding, commissioned by the Office of the Federal Auditor General (OFAG) and conducted by independent researchers from Addis Abeba University, examined audit reports covering 2009–2023. The study attributes the persistent irregularities to limited accountability, poor follow-up, and reduced audit coverage during political transitio...


Radar

Africa Maritime Conference Sets Sights on Seafaring Innovation

The Ministry of Transport & Logistics has launched the first-ever Africa Maritime Conference, marking a bold move to position landlocked Ethiopia as a continental hub for seafaring innovation at a time of global talent shortages. At a pre-conference briefing, Frans Joubert, CEO of YCF Manning Ltd, underscored Africa's untapped potential in the maritime sector. Of the 1.9 million seafarers worldwide, only four percent are African—despite the continent hosting around 150 maritime academie...