Institutes Call for Broadband Development

Jan 16 , 2024


[ssba-buttons]

A spotlight was put on expanding broadband infrastructure and optical fibre that connects directly to residences during a discussion between executives from Ethio telecom, the Ministry of Urban & Infrastructure and Huawei Ethiopia last week. State Minister Fenta Dejen said the initiative is positioned as a key strategy for advancing urban areas in line with ongoing efforts to digitise services. Ethiopia's internet penetration rate stood at 16.7pc at the start of 2023, indicating that internet users have shown a 2.6pc increase from the previous year. Tewodros Hailemeskel, chief technology officer at Ethio telecom, underscored the intensive need to improve broadband infrastructure and meet the growing demand for fast and reliable connectivity.


Radar

NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...


Radar

Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...


Radar

Export Recovery Gains Ground, Industry Still Lags Potential

The Ministry of Industry (MoI) has reported a modest rebound in Ethiopia's manufacturing exports, with revenues climbing eight percent in the 2025 fiscal year to reach 318 million dollars. Minister Melaku Alebel attributed the growth to a gradual sectoral recovery but acknowledged the figures remain well below the country's industrial potential. Speaking at a forum held with 60 top-performing manufacturers, Melaku said the ministry is working to unlock bottlenecks and improve coordination. Th...