Security Agency Joins City Tax Collection Efforts

Dec 19 , 2021

The Information Network Security Agency has signed an agreement with Addis Abeba City Revenues Bureau to enhance the latter's digital revenue collection. A platform dubbed "Derash Digital Payment Platform" will be used to augment the city's tax collection system, according to Solomon Soka, director-general of the Agency. In addition, cybersecurity enhancement works will be conducted on the Bureau's existing digital systems. More than 50 billion Br has been transacted since the launch of Derash, which works in collaboration with 16 commercial banks and 10 other financial institutions. Last week, the Agency also signed an agreement with ArifPay, a digital payment service provider, to facilitate digital payment through Derash.


DDR Initiative Gets 16m Boost

A 16 million euro initiative to facilitate the disarmament, demobilisation, and reintegration (DDR) of nearly 370,000 ex-combatants was launched last week. Financed by the European Union (EU) the program will be implemented across eight regional states. It is overseen by the National Rehabilitation Commission (NRC), the agreement was signed at the Ministry of Finance's headquarters on King George St. Key figures including Semereta Sewasew, state minister for Finance; Teshome Toga, commissioner...


Central Bank Launches Youth Enterprise Forum

A financial education program targeting youth and Medium & Small Enterprises (MSMEs) was launched by the National Bank of Ethiopia (NBE) last week. It aims to equip interested trainees with personal and professional knowledge through experts from banks and microfinance institutions who will provide comprehensive training. The training modules, developed in collaboration with The First Consult and BRIDGE, cover several angles of financial literacy, including deposits, digital financial servic...


ArifPay Takes a Leap with Massive Capital Boost

Shareholders of ArifPay Financial Technologies S.C. have taken a significant stride by resolving to raise the company's paid-up capital to 300 million Br. The decision doubles down from the current 140 million Br marking a substantial increase. ArifPay, was established by 142 shareholders and secured the distinction of being the first payment operator licensed by the National Bank in 2021. CEO Bernard Laurendeau emphasised the critical timing of this capital increase, aligning with the company...