Visa Launches Innovation Programme

Feb 20 , 2021

Visa, a global payments technology firm, announced the launch of a worldwide innovation programme dubbed the Visa Everywhere Initiative in Ethiopia. The Initiative aims to give a platform for cutting-edge solutions for digital payment through identifying and collaborating with fintech firms. Fintech startups can apply to the programme starting from last week up until early April. The startups are expected to pitch their ideas to experts in the payments industry with selected winners advancing to compete on the Central Europe, Middle East & Africa stage for a chance to win a prize of 25,000 dollars. Regional winners will then go on to compete at a global stage for a potential 100,000-dollar grand prize. Since its inception in 2015, the Initiative has expanded into a global platform with more than 6,000 participating startups that have collectively raised over 2.5 billion dollars in funding. The programme has been rolled out in North America, Latin America, Europe, Asia, the Middle East and Africa, involving over 100 countries.


Ethiopian Seafarers Contribute $50m Annually in Remittances

Ethiopian Maritime Authority disclosed 50 million dollars in annual remittances from seafarers deployed internationally. Abdulber Shemsu, the director general of the Authority, said Ethiopia's membership in the International Maritime Organisation (IMO), establishes global standards and guidelines for safe, secure, and environmentally sustainable shipping practices. With 176 member countries and three associate member countries, including Ethiopia, the IMO provides a framework for ensuring...


AfDB Launches $1.5m Initiative to Propel Agro-Industrial Parks

A 1.5 million dollar initiative for the development of three Agro-industrial parks was commenced last week. Financed by the African Development Bank (AfDB), the project includes feasibility studies, a master plan, and an environmental and social impact assessment. The Phase Two project, which includes capacity building for stakeholders, was initiated last week with an agreement between Semereta Sewasew, state minister for Finance and Gunther Beger, managing director of UNIDO. Semereta said...


Cabinet Approves Public Service Legislation

Council of Ministers has unanimously approved the legislation that aims to raise the competency and professionalism of public service in the country. The Federal Civil Servants Proclamation is pending ratification from Parliament. The decision was made during the 30th meeting of the Cabinet last week, which follows the ratification of the public service and administrative policy. Currently, the 176 federal agencies within 22 ministries, collectively employ around two million people. The polic...