World Bank Boosts Digital National ID Project

Dec 16 , 2023


[ssba-buttons]

The digital national ID project that targets over 90 million people received a 350 million dollar World Bank boost last week. Around 50 million dollars is a grant through the International Development Association (IDA) for the Host communities and Refugees. Ethiopia is the third largest refugee-hosting country in Africa, home to close to a million refugees and asylum seekers—mainly from South Sudan, Somalia and Eritrea. The project under the World Bank headlined digital ID for inclusion and services, supports voluntary registration and ID issuance across the country. The development of secure and energy-efficient ICT infrastructure, the establishment of a personal data protection Commission and the digital transformation of public and private sector services that integrate with Fayda. Established through the Digital ID Proclamation passed in March 2023, the new system has been under a project office headed by Yodahe Araya, which has issued IDs to 3.1 million residents. Ousmane Dione, country director for Ethiopia, Eritrea, South Sudan and Sudan, suggested the expansion of economic opportunities through the transformative capabilities of the digital ID. He said that providing universally accessible proof of legal identity will commence transformative potential in Ethiopia’s peace dividends.


Radar

Nib international Bank Faces Heavy Hit from Forex Revaluation, Pays 348 Million Br in Penalties

Nib International Bank S.C. (NIB) has reported a significant loss of 2.9 billion Br, primarily due to extraordinary foreign exchange revaluation losses today, during its annual shareholders meeting at the Millennium Hall on Africa avenue, Airport Road. The bank faced substantial penalties amounting to 348.4 million Br. These penalties included a 251 million Br fine for liquidity shortages and a 97.4 million Br charge for violations related to Real-Time Gross Settlement (RTGS) payments. The bank...


Radar

Railway Network Upgrade Positioned as Engine of Economic Transformation

The National Railway Business Summit took place at Skylight Hotel on October 21, 2025, signalling a historic step in modernising its railway network as a foundation for national development and regional connectivity. Government officials, industry leaders, investors, and experts from around the world convened to discuss infrastructure expansion, financing models, and technology adoption. Asma Redi, chief portfolio director at Ethiopian Investment Holdings, noted that the Ethiopian Railways Co...


Radar

Gold Prices Ease After Recent Surge

The price of gold, which surged sharply in recent weeks, has started to decline in the current selling market. Over the past 15 days, 21-carat gold has traded between 24,000 and 25,000 Br per gram for imported products and around 21,000 Br for local gold. Imported 18-carat gold sold for 21,000 Br, while local 18-carat pieces were priced at 19,000 Br. Traders note that the recent increase was twice as high as typical fluctuations, attributing the spike to export patterns from Arab countries. ...