State-owned Telco Dives Further Fuel Digitsation


State-owned Telco Dives Further Fuel Digitsation

Fuel supply chain management, third-party insurance and coupons are availed on the Telebirr platform as the state-owned telecom upgrades its digital ecosystem. The collaborative endeavour includes the Ministry of Trade & Regional Integration, Ethiopian Petroleum & Energy Authority and Ethiopian Petroleum & Supply Enterprise. It will entail integrated information access to the regulating authorities and was unveiled at the Skylight Hotel last week. The announcement comes a week after authorities at the Authority suspended 40 gas stations across the capital and the surrounding Sheger cities for the failure to comply with the digital payment system. Digital fuel coupons aimed at streamlining payment transactions are targeted at decreasing operational costs and improving security for fuel stations. The Ministry of Transport & Logistics through the Road Safety & Insurance fund engaged with Ethio telecom to put forth a third-party insurance digital system which will give companies centralized access, timely payments and real-time reporting.


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Abyssinia Bank Strategic Moves Pay Off, Driving Profit Growth

The Bank of Abyssinia (BoA) enjoyed another profitable year, amassing 4.23 billion Br net profits, an increase of 10.5pc from last year. The Bank announced total assets of 222.3 billion Br, surging by 17.3pc. Total deposits mobilised through the year climbed by 33.97 billion Br to 192.51 billion Br, while loans and advances reached 167.7 billion Br. However, the bank exhibited a nominal decline in its foreign currency earnings totalling 424 million dollars. Earnings per share also showed a ma...


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$100m Project Mulls Public Transportation Make-Over

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Safaricom Soars with 6.1 million Customers

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