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Report Forecasts Ethiopia's Digital Growth in the Next Four Years


Report Forecasts Ethiopia's Digital Growth in the Next Four Years

Ethiopia's digital economy is expected to show significant growth contributing 1.3 trillion Br in the next four years, according to a latest report by Global System for Mobile Communications (GSMA). Dubbed "Driving Digital Transformation in Ethiopia," the report stated that investments in mobile technologies and telecom have contributed to the growth of agriculture, manufacturing and public services. The advances are set to create over a million jobs, contribute an additional 57 billion Br in tax revenue to the government, and connect over 50 million people through the internet by 2028. It indicates that the home-grown economic reform has contributed 700 billion Br to economic growth and increased mobile internet connections by 65pc with 4G network coverage expanding by eightfold. It shows a significant gap with 76pc of the population still lacking internet access, stating that targeted policy reforms are necessary to shrink the gap to 66pc. The report suggests the need to prioritise affordability, telecom reforms, device affordability, mobile money service, digital skills and governance services.

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Prime Capital Joins ESX, Seeks Securities Dealership Licence

Prime Capital has secured trading membership on the Ethiopian Securities Exchange (ESX) and is pursuing a securities dealership licence to expand its brokerage and investment banking services, according to Head of Business Development and Marketing Fikremarkos. The firm received its trading membership after obtaining an investment banking licence from the Ethiopian Capital Market Authority (ECMA) and meeting all ESX requirements. The licence authorises Prime Capital to execute securities tran...


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Parliament Ratifies Tax Amendment, Assigns PMO to Lead Conciliation, Imposes 10pc Penalty on Late Evidence

The Prime Minister's Office will appoint independent tax conciliators while taxpayers face a 10pc penalty for late evidence under the Federal Tax Administration Amendment ratified by Parliament last week. By shifting the selection of “conciliators” from the tax authority to the PMO, authorities aim to establish a neutral dispute-resolution system to speed up out-of-court settlements. Experts describe the move as a high-stakes reform with notable institutional risks. The legislation, pa...


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ZamZam Bank Registers Shares, Eyes Capital Market Debut

ZamZam Bank has secured approval from the Ethiopian Capital Market Authority (ECMA) to register its shares, becoming the first fully interest-free bank to complete the regulatory process for public trading. The approval covers five million existing shares worth five billion Br and one million bonus shares valued at one billion Br, paving the way for the Bank's future participation in Ethiopia's capital market. ZamZam plans to raise its capital to 15 billion Br and introduce Sharia-compliant i...