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PPP to Supply Renewable Energy for Industrial Parks

Aug 31 , 2019

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Ethiopia in partnership with the private sector is working to supply renewable energy for agro-processing industrial parks at a cost of 1.8 billion dollars. Ethiopia opened up its energy sector to private investors to meet demand and create credible power sustainability. The participation of the private sector is vital to meet the growing electricity demand in the country, according to Abraham Belay (PhD), CEO of Ethiopian Electric Power. The projects that will be implemented within the public-private partnership (PPP) programme will focus on generating power from hydropower, solar and geothermal energy, Abraham said. The opening up of the power sector is very important to attract more investments, increase the production capacity of the nation and to avoid unforeseen project delays, Abraham added.  

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Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...

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NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...

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SantimPay Launches Zero-fee Digital Remittance Platform

SantimPay has rolled out FrankRemit, first fully integrated, zero-fee digital remittance platform, in partnership with Bank of Abyssinia(BOA). The service smoothly connects all commercial banks and major mobile money providers, including Telebirr, M-Pesa, and CBE Birr which is a first of its kind in the country. FrankRemit is expected to revolutionise how the Ethiopian diaspora sends money home. Developed locally and tested over the past two weeks with successful transfers from multiple count...

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