Private Telecom Enters an Alliance with State-owned Bank


Private Telecom Enters an Alliance with State-owned Bank

Topping up services for Safaricom customers using Commercial Bank of Ethiopia (CBE) USSD, Mobile application and CBE Birr USSD options are up free of service charge. The state-owned bank which boasts 1.2 trillion Br in assets and 1880 branches will have access to Sa-faricom's digital infrastructure along with assistance in other financial technologies. President of CBE, Abe Sano signed the agreement with the CEO of Safaricom Ethiopia, Anwar Soussa in a bid to foster "a mutually beneficial long-term journey", at an event held at the headquarters of CBE last week. Safaricom is the only foreign company in Ethiopia which offers telecom service aside from state-owned Ethiotelecom which still has the bulk of the market share. The Kenyan-based telecom operator entered the Ethiopian market last year to a customer base stripped of alternatives. Safaricom has within the last month entered into partnerships with other private banks like Awash Bank and the Bank of Abyssinia.

[ssba-buttons]

Radar

Construction Sector Faces 'Serious Trouble,' Minister Warns

The construction industry in Ethiopia is in "serious trouble," said Chaltu Sani, Minister of Urban & Infrastructure Development, citing major challenges with finance, competitiveness and material costs. Speaking at the opening of the BIG 5 Construct Ethiopia expo and the inaugural East African Infrastructure & Water Expo at Millennium Hall last week, Chaltu stressed the need for concerted efforts from government, private sector, and international partners to support the 67 billion dol...


Radar

Wegagen Bank, Gift Real Estate Partner to Promote Diaspora Homeownership

Wegagen Bank S.C. and Gift Real Estate Plc. signed a Memorandum of Understanding (MoU) on June 23, to offer housing loans for homebuyers, with a special focus on the Ethiopian diaspora. The agreement enables eligible diaspora members to access loans covering up to 80pc of a home's value at reasonable interest rates. The bank's Deputy CEO Kidane Gebreselassie noted the deal will promote the real estate sector and expand homeownership options. Founder and CEO of Gift Real Estate, Gebreyesus Igata...


Radar

Jimma University Signs Sports Science Agreement to Strengthen National Programmes

Jimma University has signed a four-party Memorandum of Understanding (MoU) with the Ethiopian Academy of Sciences, Derartu Tulu Sports Training & Research Institute, and the Oromia Youth & Sport Bureau to advance Ethiopia's sports science and training capacity. Signed on June 26, the agreement includes joint research, shared facilities, and hosting of national and international competitions. It is expected to strengthen youth development, public health, and national pride through coor...