Mismatched Skills Plague the Labor Force

Jan 27 , 2024


In a bid to address the pervasive skill and labour mismatch, the Ethiopian Chamber of Commerce & Sectorial Association organised a national public-private dialogue forum last week, focusing on improving Technical Vocational Educational Training (TVET) programs. Attendees highlighted the need for competent and committed governance to narrow the skill gap. Melaku Azezew, the president of the Association, underscored the importance of creating linkages between industries and TVET programs to establish robust relationships and develop complementary skills. Ministry of Labor & Skills is set to enrol over 630,000 students across the 1,300 private and public TVET campuses nationwide. Solomon Benor (PhD), head of research & engagement affairs at the Ministry of Education, echoed similar sentiments, expressing optimism in the recently ratified proclamation to align labour demand and supply effectively.


Radar

Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...


Radar

NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...


Radar

SantimPay Launches Zero-fee Digital Remittance Platform

SantimPay has rolled out FrankRemit, first fully integrated, zero-fee digital remittance platform, in partnership with Bank of Abyssinia(BOA). The service smoothly connects all commercial banks and major mobile money providers, including Telebirr, M-Pesa, and CBE Birr which is a first of its kind in the country. FrankRemit is expected to revolutionise how the Ethiopian diaspora sends money home. Developed locally and tested over the past two weeks with successful transfers from multiple count...