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Purpose Black opens new agri retail shop
Spread the NewsPurpose Black has opened its new agri products retail and wholesale shop on Saturday. Launched in May 2020 through a collaborative effort of more than 130 Black experts, Purpose Black has been enabling farmers to directly sell their produce to cash and carry retailers. The fresh shop has started operations in Senga Tera,…

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…

Oro Fresh launches supplying veg, fruits
Spread the NewsEstablished with an aim of providing value chains by easing supply shortages of fruits and vegetables trade activities in Oromia region, “Oro Fresh” has launched providing service on Thursday. “Oro Fresh” is a mechanism set up to sole the supply-side process and to cut long-value chains. Girma Amentie, Resource Administration Cluster with the portfolio of…

Expert urges gov’t to implement research based foreign currency exchange regime
Spread the NewsSeife Desta, National Bank of Ethiopia (NBE) former Banking and Foreign Currency Directorate Director urged the government on Friday to implement a research-based foreign currency exchange rate regime, which will be executed by considering the situation on the ground. Currently, Ethiopia is implementing a managed floating foreign currency exchange system. …

Safaricom ranked “Most Valuable Firm” in East Africa by market cap
Spread the NewsAccording to a report— a compilation of the most valuable brands by market capitalization – by analysts at AfricanFinancials Group, Safaricom is the most valuable brand in East Africa and Mauritius, with a market capitalization of $15.4 billion. Safaricom’s shares have soared following its announcement of securing a telecommunications license to operate in…

Bank of Abyssinia signs contract for new headquarters construction project
Spread the NewsBank of Abyssinia (BoA) signed a contract with China State Construction and Engineering Corporation (CSCEC) for the construction of its new headquarters. The agreement was signed on Thursday at Hyatt Regency Hotel. BoA future headquarters buildings project is like a vertical city that fully meets the demands of all functions and gives visitors…