Ride-Hailing Service Collaborates to Enhance Digital Payments, Healthcare


Ride-Hailing Service Collaborates to Enhance Digital Payments, Healthcare

Yango, the international ride-hailing service, has entered two partnerships aimed at improving both digital payments and healthcare access for its commuters and partner drivers in Ethiopia. In collaboration with Awash Bank, one of the country's leading financial institutions, Yango will promote digital payment adoption. As part of the initiative, Awash Bank employees and customers will receive a 15pc discount on their first three Yango rides. Additionally, Yango has signed a memorandum of understanding with Amakari Doctors, a telemedicine provider, to enhance healthcare services for its drivers. Amakari Doctors will offer discounted medical services and complimentary telemedicine consultations to drivers. Yango, headquartered in Dubai, started Ethiopian operations last year in October and claims to have 600,000 registered drivers globally.


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Parliament Nods for Cabinet Appointments

Federal legislators have approved five cabinet-level positions last week with a member of Parliament (MP) voted against and two abstentions were counted. Gedion Timotheos (PhD) leads the charge as the new minister of Foreign Affairs, filling in Taye Asqeselassie's shoes, where he stayed briefly before becoming the country's president. With law degrees from Addis Abeba and Central European universities, Gedion was previously Attorney General and Minister of Justice. Joining him in the redev...


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Abyssinia Group Eyes Expansion with IFC Funding

Abyssinia Group of Industries (AGI), a leading East African steel producer, is poised for significant expansion owing to a proposed investment from the International Finance Corporation (IFC) which is considering a financing package of up to 50 million dollars, including parallel loans in local currency. Headquartered in Kenya, AGI operates two steel plants in Ethiopia, six in Kenya, and has mining activities in Uganda. AGI currently produces 660,000 metric tons of steel annually and employs...


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Fitch Acknowledges Easing Financial Pressures, Enhanced Macroeconomic Stability

Fitch Ratings has upgraded Ethiopia's Long-Term Local-Currency Issuer Default Rating (LTLC IDR) to 'CCC+' from 'CCC-', citing easing financing pressures, improved macroeconomic stability, and increased confidence that local-currency obligations will not be part of the ongoing debt restructuring. This positive development comes as the government implements key reforms and secures renewed concessional external financing. The ratings agency has taken note of the introduction of a market-based ex...


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