Radar | Oct 12,2024
May 3 , 2023
Ethiopia's central bank has announced a partnership with financial technology firms to develop and implement a regulatory framework for movable collateral and non-collateral loans to support micro, small, and medium enterprises (MSMEs). According to Vice Governor of the National Bank of Ethiopia (NBE), Solomon Desta, the Bank is actively working on the infrastructure to facilitate this initiative.
A panel discussion focused on digital lending was held at the Hyatt Regency Hotel on Africa Avenue (Bole Road). The event is expected to address strategies for overcoming barriers to financial inclusion in Ethiopia and beyond.
Last year, the central bank facilitated 3.6 billion Br in non-collateral loans to MSMEs, which marked a fourfold increase from the previous year. The authorities aim to extend financial access to 70pc of the population by 2025, said Solomon.
Experts are urging banks to broaden their financial services to traditionally underserved sectors, such as farmers. The primary reasons for banks' reluctance to support these groups include the lack of digital infrastructure, limited data, and an imbalance of risks and costs.
Radar | Oct 12,2024
Viewpoints | Dec 21,2019
Commentaries | Mar 26,2022
Radar | Apr 30,2022
Radar | Oct 06,2024
Radar | Dec 16,2023
Viewpoints | Apr 29,2023
Fortune News | Jun 15,2019
Fortune News | Dec 21,2019
Radar | Sep 08,2024
My Opinion | 128804 Views | Aug 14,2021
My Opinion | 125060 Views | Aug 21,2021
My Opinion | 123135 Views | Sep 10,2021
My Opinion | 120958 Views | Aug 07,2021
May 10 , 2025
Federal legislators recently summoned Shiferaw Teklemariam (PhD), head of the Disaste...
May 3 , 2025
Pensioners have learned, rather painfully, the gulf between a figure on a passbook an...
Apr 26 , 2025
Benjamin Franklin famously quipped that “nothing is certain but death and taxes....
Apr 20 , 2025
Mufariat Kamil, the minister of Labour & Skills, recently told Parliament that he...
Loading your updates...