The National Bank of Ethiopia (NBE) on Tuesday announced that it has removed the limits on bank transfers. The financial sector regulators restricted in January 2021, limiting account-to-account transfers to only five a week.
The next month, they placed the same restriction on transfers via mobile and internet banking using Automatic Teller Machines (ATMs) or Point of Sales (POS) machines, and mobile money.
Spread the NewsTizita Mulugeta, Ambassador of Ethiopia to India urged investors in the global tourism sector to grab and capitalize on attractive opportunities in Ethiopia. She told them this while addressing investors gathered virtually at the Inventivepreneur Chamber of Commerce and Industries (ICCI) Annual Global Tourism Summit held on Sunday. The virtual summit aimed to…
Spread the NewsDashen Bank and Eagles Lion System Technology agreed Tuesday to implement financial transactions through Dube Pay Technology app. The agreement, which will enable the signatories to serve their customers, has been signed by Yohannis Million, Digital Service Officer at Dashen Bank and Besufikad Getachew, CEO Eagles Lion System Technology. The new app will…
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…
Spread the NewsEthiopia has garnered $390 million from exports of the manufacturing industry, Melaku Alebel, Minister of Industry, said Tuesday. Melaku pointed out that the performance was 87 percent of the target set for this Ethiopian fiscal year. “Activities will be conducted to boost industrial export earnings,” he said, adding that, “Solving the difficulties in…
Spread the NewsTakele Uma (Engineer), Minister of Mines said Friday that construction of Lemi Cement Industrial Complex, a new private industrial park, is going to be completed in 18 months. The industrial complex is located in North Shoa Zone of Amhara region. When starts operation, the factory will have a capacity of producing 5 million…
Spread the NewsThe Council of Ministers has approved 122 billion Birr additional budget on Wednesday. The proposed additional budget by the Ministry of Finance will be invested in the rehabilitation and reconstruction works of public infrastructures damaged by the Tigray Peoples Liberation Front (TPLF) in Amhara and Afar regions. The additional budget will also be…
