Technology Archives - Page 11 of 12

11 May

Ethiopia’s investment shows two billion Dollar deficit

ethionegari@gmail.com0 CommentsBusiness, News, Politics, TechnologyAddisAbaba, EthioNegari, Ethiopia, Ethiopiainvestment, FDIEthiopia

Ethiopia planned to attract 4.5 billion dollars of foreign direct investment in the last nine months. According to the report submitted by the Ethiopian Investment Commission to the House of Representatives, Ethiopia received 2.7 billion dollars in foreign direct investment in the last nine months. According to the Chief Commissioner of the Investment Commission, Lelise Neme, in the last nine months, 4.5 billion dollars of FDI was planned to be attracted into the country and 2.67 billion dollars of income was achieved. The implementation of the commission achieved only 61 per cent of the plan, and the war in northern…

11 May

National Bank grants mobile money license to Safaricom Ethiopia

ethionegari@gmail.com0 CommentsBusiness, News, TechnologyAddisAbaba, EthioNegari, Ethiopia, Mobilemoney, Mpesa, Safaricom, Safaricomethiopia

Safaricom Ethiopia has received a license from National Bank of Ethiopia to provide mobile money payment services. Safaricom Ethiopia, a telecom company that entered Ethiopia two years ago, has now received an additional license. Safaricom Ethiopia has received approval from the National Bank to provide mobile money services through Mpesa. National Bank Governor Mr Mamo Mehretu has announced that the bank has granted a mobile money service license to Safaricom, which enables it to provide digital financial services. This makes Safaricom the first foreign company to receive a license for mobile money payment services in Ethiopia, according to the National…

10 May

More than 51 investors have pulled out of Ethiopia’s industrial parks

ethionegari@gmail.com0 CommentsBusiness, News, Politics, TechnologyAddisAbaba, Corruption, easternindustryzone, EthioNegari, Ethiopia, industrypark

Several foreign investors in Ethiopia's industrial parks have left due to allegations of corruption. The Ethiopian Investment Commission presented a nine-month plan performance report to the House of Representatives, which revealed that foreign companies in various production sectors are unhappy with the fees demanded by government institutions. Members of the council reviewed the report and noted complaints from companies in the Eastern Industrial Park near Dukem City in the Oromia region. These companies have reportedly been subjected to theft, corruption, and bureaucracy, leading to more than 51 investors leaving the park. The council members also observed a lack of ownership…

10 May

Bank of Abyssinia Honored with Temenos Innovation Hero Award

ethionegari@gmail.com0 CommentsBusiness, News, TechnologyAbyssiniabank, AddisAbaba, BoA, EthioNegari, Ethiopia, ITF2023, temenosinovationaward, Vienna

Bank of Abyssinia has been named the winner of the prestigious Temenos Innovation Hero Award at the TFC2023 reception held on May 9, 2023, in Vienna. Standing out among nominated projects from across the industry, Bank of Abyssinia’s innovative and impactful banking projects impressed both the Temenos jury panel and its customers. After sharing the summary of nominated projects online, customers and partners were encouraged to vote on the most deserving project, ultimately leading to this well-deserved recognition. The Temenos Innovation Hero Award is an annual award program that recognizes organizations making a significant impact in their local communities through…

09 May

Safaricom Ethiopia appoints Ambassador Henok Tefera

ethionegari@gmail.com0 CommentsBusiness, News, TechnologyAddisAbaba, EthioNegari, Ethiopia, Henoktefera, Safaricom, Safaricomethiopia, Telecomservices

Safaricom Telecom Company, which entered Ethiopia two years ago, has appointed a new manager. Ambassador Henok Tefera, who has been Ethiopia's ambassador to France for the past three years, has been given new responsibilities at Safaricom Ethiopia. Ambassador Heok has been appointed as the head of foreign affairs and regulator of Safaricom Ethiopia. Safaricom Ethiopia confirmed to Ethio Negari that Ambassador Henok has succeeded the former head of the organization, Matthew Harrison. Ambassador Henok Tefera served as Ethiopia's ambassador to France from 2018 to 2022. Safaricom Ethiopia is providing telecom services to more than 20 cities and will soon receive…

05 May

Ethiopia to grant license for five foreign banking

ethionegari@gmail.com0 CommentsBusiness, News, Politics, TechnologyAddisAbaba, BankinginEthiopia, EthioNegari, Ethiopia, Foreignbanks, Nationalbankofethiopia

Ethiopia plans to grant five banking licenses to foreign investors who are interested in working in the banking sector in the next five years. According to Reuters, the deputy governor of the National Bank, Solomon Desita, will grant banking licenses to upto five foreign investors who want to work in Ethiopia's banking sector. Mr Solomon stated that, this aims to open up the country's financial sector services to foreign competitors. So far, the banking sector has remained closed to foreign investors. It has been announced that it will be open to foreign competitors in the next five years. In addition,…

03 May

Mr Kasahun Gofe appointed as Ethiopian Commodity Market board head

ethionegari@gmail.com0 CommentsBusiness, News, Politics, TechnologyAddisAbaba, Boardmembers, ECX, EthioNegari, Ethiopia, Ethiopiacommoditymarket, Trade

The Ministry of Trade and Regional integration has appointed board members to manage the Ethiopian commodity market. Mr. Kasahun Gofe of the state ministr of Trade and Regional integration was appointed as the chairman of the board by the government. Dr. Sophia Kasa, state minister of agriculture, Dr. Adugna Debala, Director General of the Coffee and Tea Authority, Mr. Solomon Desita, Deputy Governor of the National Bank, Mr. Dereje Fufa, Vice President of the Commercial Bank of Ethiopia, and Mr. Nuredin Mohamed, Project Manager of the Ministry of Trade and Regional Cooperation, were appointed as members of the board. .…

25 Apr

Addis Ababa to host international construction exhibition in May

ethionegari@gmail.com0 CommentsBusiness, News, TechnologyAddisAbaba, Addisbuild, Big5constructethiopia, constructionexhibition, EthioNegari, Ethiopia

More than 100 international construction companies will exhibit their product in Ethiopia in mid-May. The twelfth edition of Addis build, now in the global portfolio of construction events as Big 5 Construct Ethiopia will take place from 18 to 20 May 2023 at the Millennium Hall in Addis Ababa Ethiopia. Highlighting the top opportunities, products, services and stakeholders in Ethiopia’s construction industry, the exhibition brings together more than 6,000 building, construction, and infrastructure professionals to network, inspire growth and uncover the latest trends and innovation in construction. According to Global Data, the size of Ethiopia’s construction market reached $41 billion in 2021. Its…

11 Apr

Crypto billionaires lost $110 billion last year

ethionegari@gmail.com0 CommentsBusiness, News, TechnologyAddisAbaba, Cryptocurruncy, digitalcurruncy, EthioNegari, Ethiopia

There are now only 9 crypto billionaires with a total value of less than $30 billion, compared to 19 crypto billionaires worth $140 billion last year, according to Forbes' 2023 World’s Billionaires List. The top 3 crypto billionaires still include Binance CEO Changpeng Zhao. He is still the richest man in the industry, though his fortune has fallen to $10.5 billion from $65 billion a year ago. Second place went to Ripple co-founder Jed McCaleb, whose net worth was $2.4 billion after selling his XRP, per the terms of a separation agreement with Ripple. Rounding out the top 3 is…

06 Apr

Russian car manufacturing companies to Invest in Ethiopia

ethionegari@gmail.com0 CommentsBusiness, News, Politics, TechnologyAddisAbaba, Carmarket, dredawa, EthioNegari, Ethiopia, freetradezone, industrypark, Russia

Russian car manufacturing companies are visiting Ethiopia and expressed their interest in investing in Diredawa. Representatives from Russia's Lada and Gaz Group car manufacturing companies discussed with Mr. Shiferaw Solomon, Deputy of Industrial Parks Development Corporation. The delegates were briefed on the favorable investment situation in the industrial parks, incentives for the sector, and the Dredawa Free Trade Zone. In addition to Dredawa, the executives of the car manufacturing company also toured Bole Lemi and Kilinto Industrial Parks and observed the work and production process. The companies are known for providing different models of vehicles used in the European, South…