SNV, Dashen Team up to Support Youth

Jan 16 , 2021

SNV, a development organisation from the Netherlands, and Dashen Bank have signed a memorandum of understanding to promote youth engagement in micro and small-scale enterprises. This comes as part of the organisation's Realising Aspiration Youth in Ethiopia through Employment (RAYEE) project, which targets to create employment opportunities for 240,000 young people in the Oromia, Amhara, Tigray and Southern regional states and Dire Dawa city. Set to last until the end of 2024, the project is expected to improve employment services and labour market outcomes for youth by facilitating access to financial services and markets and providing tailored training courses. The efforts are also geared to lean toward young women who make up 70pc of the targeted beneficiaries, most of whom are engaged in agribusiness. The project is funded by the Mastercard Foundation as part of its Young Africa Works strategy. The Foundation launched this aiming to create employment for 30 million young people across Africa, 10 million of which are in Ethiopia, by 2030.


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...