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Mayor Adanech inaugurates Pushkin Square – Gotera interchange modern road project
Spread the NewsAdanech Abiebie, Mayor of Addis Abeba has inaugurated the first modern road project covering the area from Sarbet – Alexander Pushkin Square – Gofa Mazoria to the end of the Gotera Interchange on Monday. The new road is located in Nifas Silk Laphto District. Jantirar Abay, Deputy Mayor of Addis Abeba, Ahmed Shide,…

Enat Bank, Hybrid Designs agree on provision of loans to drivers
Spread the NewsEnat Bank Share Company and Hybrid Designs—RIDE, a taxi hailing firm, agreed Friday on the provision of loans to Ride drivers. In a strategic agreement program held at Hyatt Regency Hotel, the companies agreed on three types of loans to RIDE drivers. The first Enat Vision consists of loans to purchase new vehicles….

Enat Bank opens its 100th branch in Arba Minch
Spread the NewsEnat Bank Share Company has opened its 100th branch in Arba Minch town on Saturday, June 4, 2022. Ermias Andargie, President of Enat Bank said during the inauguration that, “Enat has been striving to boost women’s role in the economy and envisions expanding and providing efficient services.” He added: “To achieve the vision…

NBE licenses ArifPay fintech startup
Spread the NewsThe National Bank of Ethiopia has licensed ArifPay, a fintech company that makes digital payment services. The company is based in Addis Abeba. Founded on February 2021 by Habtamu Tadesse, a founder of Zay Ride, a ride-hailing platform in Ethiopia, ArifPay is a mobile point of sale system which will allow ATM cardholders…

Ethiopia loses $78 bln due to trade misinvoicing in five years
Spread the NewsEthiopia is losing $50 to 78 billion in five years through trade mis-invoicing practices, one of tools to execute illicit financial flows. Export under-invoice and import over-invoicing are the common activities in the illicit financial flows. Amin Abdela, a Macroeconomist referred Adugna Lemi (Prof.) survey to proof his argument and said, “Ethiopia is…

Ethiopia garners over $1.64 bln from remittance
Spread the NewsThe Ethiopian Diaspora Agency (EDA) said Ethiopians living abroad have sent more than $1.64 billion home in the first five months of the current fiscal year. The amount has been remitted using legal channels, according to EDA. Ethiopia has a target to garner $4 billion through remittance in the 2021/22 fiscal year. In…