Forex Bureaus Pressed to Grow Amid NBE’s Branch Expansion Freeze, Fueling Currency Access Concerns

Forex Bureaus Pressed to Grow Amid NBE’s Branch Expansion Freeze, Fueling Currency Access Concerns The establishment of forex bureaus in Ethiopia marks a pivotal moment in the nation’s transition to a market-based foreign currency exchange system. As the National Bank of Ethiopia (NBE) moves away from a decade-long fixed exchange rate regime, these bureaus represent a critical step toward afostering greater transparency and efficiency within the foreign exchange market. By bridging the gap between official and black market rates, the bureaus provide businesses and individuals with a legitimate means of accessing foreign currency. However, from the outset, these bureaus have faced substantial challenges. Despite the widespread issue of local currency liquidity across the economy, they have voiced concerns about the operational limitations of the Real-Time Gross Settlement (RTGS) system, which disrupts the smooth transfer of funds between banks. This technical bottleneck has added complexity to their operations, limiting their ability to fully support the goal of a more streamlined and transparent forex market. “We are only transferring a limited amount to our clients and losing trusts due to this reason,” said Moges Eshetu, CEO of Rooha Forex Bureau. In addition, forex bureaus face significant challenges due to regulatory constraints imposed by the National Bank of Ethiopia (NBE), which limit their ability to expand branches both in Addis Ababa and across regional cities. These restrictions have made it difficult for them to scale their operations to meet the rising demand for foreign currency. With limited access to capital and facing tight liquidity, the bureaus are struggling to secure the necessary funds to grow. This financial strain, coupled with high operational costs, hinders their ability to expand and fully contribute to addressing the country’s currency shortages and broader financial modernization goals. “We have submitted a request to the NBE for approval to expand our branch network, but we were informed that the expansion process has been temporarily suspended,” Moges told Addis Insight. He added that there should be a clear rationale behind this suspension, especially considering the bureau is licensed to operate within the country. He also drew attention to the challenges surrounding the “on-arrival visas”. While the NBE has made it clear that only clients holding traditional visas will be accepted, many individuals traveling for medical or other urgent reasons arrive with on-arrival visas, which are now issued digitally. This discrepancy between policy and the reality of modern travel has created significant hurdles for certain travelers, who, despite holding valid digital visas, find themselves unable to meet the NBE’s requirements. “Humanity will force you to provide services to those who present what they have, but the NBE imposes harsh penalties. There needs to be a law that addresses this issue,” Moges stated.

From Stadiums to Substations: Engineer Getu Geremew’s Leadership Journey

From Stadiums to Substations: Engineer Getu Geremew’s Leadership Journey Engineer Getu Geremew Soressa has been appointed as the CEO of Ethiopian Electric Service, bringing with him extensive experience in the energy sector and a notable contribution to Ethiopian athletics. Born in Inchini City, Oromia Region, Engineer Getu has built a distinguished career in both fields, demonstrating expertise in electrical engineering and renewable energy. At 40 years old, his leadership and technical acumen make him a key figure in Ethiopia’s energy sector. Academic and Professional Background Engineer Getu holds two bachelor’s degrees in Electrical Engineering and Computer Science from Hawassa University. He later obtained a master’s degree in Renewable Energy Technology from Addis Ababa University. His commitment to professional growth is reflected in his participation in numerous specialized courses both locally and internationally. With 17 years of service at the Ethiopian Electric Power Service—previously known as Light Power—he has steadily climbed the ranks, holding various leadership roles. His tenure includes serving as a Technical and Regulatory Specialist, Deputy Chief Executive Officer, and CEO of the National Coordination Sector for seven years. He also served as CEO of the Oromia Regional State Electricity Service, where he contributed to the sector’s development and efficiency. Contributions to Ethiopian Athletics Apart from his contributions to the energy sector, Engineer Getu has played a significant role in advancing Ethiopian athletics. As a member of the Ethiopian Electric Sports Club’s Board of Directors and Deputy Chairman, he has led initiatives to enhance the club’s effectiveness on national and international levels. His efforts include salary improvements for athletes to boost performance and motivation, as well as advocating for the construction of two standard running tracks to address training challenges in Ethiopia. His leadership has also been instrumental in securing financial recognition for record-breaking Ethiopian athletes. Notable athletes such as Lamecha Girma, Egist Asefa, Gudaf Tsegay, and Derbe Wolteji each received 500,000 birr as rewards for their achievements. Yomif Kejelcha, another distinguished athlete, is awaiting the confirmation of his half-marathon world record, which Engineer Getu has actively supported. International Representation and Leadership Engineer Getu’s commitment to Ethiopian athletics extends to international representation. He has played a key role in supporting Ethiopian athletes in major global competitions, including the 2024 Paris Olympics, the World Championships in Oregon and Budapest, and the World Indoor Championships. His presence at these events, providing financial support and encouragement, underscores his dedication to Ethiopian sports. Since 2015, he has been a leading figure in the Ethiopian Athletics Federation, elected to the Executive Committee with a significant majority. Currently serving as First Vice President and Technical Chairman, he continues to contribute to the strategic direction of Ethiopian athletics. Future Leadership at Ethiopian Electric Service With his appointment as CEO of Ethiopian Electric Service, Engineer Getu faces the challenge of guiding Ethiopia’s energy sector into a period of growth and modernization. His extensive background in engineering, renewable energy, and leadership positions him well to drive progress in the sector. His strategic planning skills and experience in managing large-scale projects make him a strong candidate for leading one of Ethiopia’s most critical institutions. Engineer Getu Geremew’s contributions to both the energy and athletics sectors reflect a career marked by dedication, innovation, and leadership. His appointment signals a promising phase for Ethiopian Electric Service and the broader development of Ethiopia’s energy infrastructure.

Exness Expands Operations in Ethiopia with Amharic Language Support

Exness Expands Operations in Ethiopia with Amharic Language Support Exness, a leading global forex and CFD trading platform, has announced the introduction of Amharic language support, making Ethiopia one of its latest focus markets. The move is part of the company’s broader strategy to expand its footprint in Africa, where online trading continues to gain popularity. The introduction of Amharic on the Exness trading platform and customer support channels is expected to enhance accessibility for Ethiopian traders, many of whom have previously faced language barriers when navigating trading platforms. With forex and CFD trading growing in popularity across the country, Exness aims to position itself as a leading platform for Ethiopian investors. Exness’ Global Expansion and Market Leadership Exness, founded in 2008, has grown into one of the world’s largest forex brokers, with a monthly trading volume exceeding $5 trillion and more than one million active traders worldwide. The company has built a strong presence in Asia, Africa, Europe, and the Middle East, serving both retail and institutional traders. The firm is regulated by multiple financial authorities, including the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC), and the Financial Sector Conduct Authority (FSCA) in South Africa. This regulatory compliance has contributed to its reputation as a trusted and secure trading platform. Why Ethiopia? Ethiopia’s financial sector is undergoing rapid transformation, with increasing internet penetration, mobile banking adoption, and digital financial literacy contributing to a rise in forex trading interest. The country’s young and tech-savvy population has also driven demand for online investment opportunities. By introducing Amharic support, Exness aims to tap into Ethiopia’s growing base of retail traders, offering: Amharic-speaking customer service to assist traders with inquiries. A fully localized trading interface, making it easier for users to navigate the platform. Educational resources and market analysis in Amharic, helping new traders understand forex and CFD trading. This development follows a broader trend of forex brokers expanding into African markets, as interest in online trading continues to grow across the continent. What This Means for Ethiopian Traders With low entry requirements, flexible leverage options, and instant withdrawal services, Exness has positioned itself as an attractive platform for Ethiopian traders looking to participate in global markets. Industry analysts say the addition of local language support could accelerate forex adoption in Ethiopia, as it removes a major barrier for new traders. However, financial experts continue to emphasize the importance of responsible trading and risk management, as forex and CFD markets carry inherent risks. As Ethiopia’s economy continues to evolve, Exness’ expansion could mark the beginning of greater financial market participation, paving the way for more localized trading solutions in the future. Exness Platform Availability: Where Can Traders Access It? To ensure maximum accessibility for Ethiopian traders, Exness is available on multiple platforms, including: 1. Mobile Trading (Android & iOS) The Exness Trader App is available for Android and iOS devices, providing full functionality, including market analysis, trade execution, and account management. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) apps are also supported, allowing traders to access advanced charting and technical indicators. 2. Web Trading (Browser-Based) The Exness Web Terminal enables traders to access their accounts from any browser without downloading additional software. MetaTrader WebTrader is also available for those preferring a more traditional trading interface. 3. Desktop Trading (Windows & macOS) Exness provides dedicated Windows and macOS versions of MetaTrader 4 and MetaTrader 5, ensuring professional traders have access to high-speed execution and advanced tools. With these options, traders in Ethiopia can seamlessly access Exness from smartphones, tablets, laptops, or desktop computers, making forex and CFD trading more flexible.

Unprecedented Methane Emissions from Mount Fentale Raise Questions About Ethiopia’s Natural Gas Potential

Unprecedented Methane Emissions from Mount Fentale Raise Questions About Ethiopia’s Natural Gas Potential The recent detection of large-scale methane emissions from Mount Fentale, an active stratovolcano in Ethiopia’s Great Rift Valley, has sparked scientific interest not only due to its geological and climate implications but also for what it could mean for the region’s natural gas potential. Satellite measurements have confirmed an unusual release of methane, a gas that is a key component of natural gas, raising the possibility that untapped reserves could exist beneath the rift’s tectonic layers. A Possible Indicator of Natural Gas Deposits? Methane emissions in volcanic areas are typically associated with geothermal activity and the breakdown of organic material at high temperatures. However, the sheer volume of methane detected at Mount Fentale has led scientists to explore whether it may be leaking from deep underground hydrocarbon reservoirs, similar to those found in Ethiopia’s known natural gas-rich regions. There are several possibilities for the source of these emissions: Geothermal Methane – Volcanic and hydrothermal systems can generate methane through chemical reactions at extreme temperatures. However, these emissions are usually minor compared to what satellites have detected. Buried Organic Deposits – Large pockets of methane can form when ancient organic matter (such as plant material or marine life remains) decomposes under high heat and pressure over millions of years. The Great Rift Valley’s geological history makes this a plausible scenario. Deep Hydrocarbon Reservoirs – The ongoing earthquakes and ground fractures in the region could be releasing methane from previously trapped gas fields, similar to those in Ethiopia’s Ogaden Basin, where significant natural gas deposits have already been identified. Magma-Gas Interaction – If rising magma is heating underground organic-rich rock layers, this could be triggering massive methane release through newly formed cracks and fissures. If further analysis confirms that the methane originates from deep-seated natural gas deposits, this could mark an important discovery for Ethiopia’s energy sector. Ethiopia’s Existing Natural Gas Reserves and Energy Potential Ethiopia has already established major natural gas reserves in the Ogaden Basin, particularly in the Calub and Hilala gas fields, where extraction efforts have been ongoing. However, the Great Rift Valley—where Mount Fentale is located—has not been extensively explored for hydrocarbon resources. If Mount Fentale’s methane emissions are linked to deep natural gas pockets, Ethiopia could be sitting on an additional untapped energy source. This could present opportunities for: Diversifying Ethiopia’s Energy Mix – Ethiopia is heavily reliant on hydropower, but increasing its natural gas production could provide a more stable domestic energy supply. Attracting Foreign Investment – Ethiopia has been looking to develop its natural gas sector, with interest from international energy companies. A discovery in the Great Rift Valley could increase investor confidence in Ethiopia’s gas potential. Boosting Local and Regional Energy Markets – If commercial-scale gas reserves exist, Ethiopia could not only reduce energy imports but also export natural gas to neighboring countries. Challenges and Uncertainties Despite the potential benefits, several challenges remain: Geothermal vs. Hydrocarbon Source – Further investigation is required to determine whether the methane is part of a geothermal system (with no commercial gas potential) or whether it comes from a deeper fossil fuel reservoir. Extraction Feasibility – If natural gas is present, drilling and extraction could be complicated by active seismic activity, volcanic hazards, and difficult terrain. Environmental Risks – Methane is a highly potent greenhouse gas, and uncontrolled emissions could contribute to climate change if not managed properly. Balancing with Ethiopia’s Green Energy Goals – Ethiopia has positioned itself as a leader in renewable energy, particularly hydropower and geothermal. Large-scale investment in natural gas would require policy adjustments to align with its long-term energy strategy. Next Steps: Exploration and Monitoring Scientists and energy experts are expected to conduct further ground studies, including: Measuring methane concentrations to determine if emissions are increasing or stabilizing. Conducting geophysical surveys to assess whether there are deep gas reservoirs beneath the volcano. Studying earthquake patterns to identify whether tectonic movements are causing gas leaks from underground pockets. Evaluating the economic feasibility of exploring natural gas extraction in the region. While Mount Fentale’s recent methane release is currently viewed as a geological anomaly, it may also be a signal of deeper energy resources hidden beneath Ethiopia’s Great Rift Valley. Whether this translates into a new natural gas discovery remains to be seen, but it has certainly opened the door for future exploration and scientific inquiry.

Efforts Underway to Revive Tana Beles Sugar Factory

Efforts Underway to Revive Tana Beles Sugar Factory The Tana Beles Sugar Factory, located between Ethiopia’s Amhara and Benishangul-Gumuz regions, is undergoing a major restructuring following months of operational disruptions and workforce departures. Over the past two months, more than 75% of the factory’s employees have left, primarily due to unpaid wages. Many of these workers have since sought alternative employment elsewhere, while those who remained have awaited the gradual settlement of delayed salaries. In response to these challenges, a new board has been established, tasked with overseeing the factory’s recovery and ensuring that full-scale production resumes within a year. Dr. Biruk Taye, CEO of Ethiopian Investment Holdings (EIH), which manages state-owned enterprises, confirmed that the newly appointed board has already started efforts to reclaim and cultivate 2,000 hectares of land by May–June 2025 (Ginbot 2017 E.C.) to sustain sugar production. Thus far, 450 hectares have been cultivated. According to Dr. Biruk, these measures are part of a structured plan aimed at stabilizing operations and restoring the factory’s functionality, despite delays in previous efforts to resume production. The Tana Beles Sugar Factory, located 225 kilometers from Bahir Dar, has faced repeated setbacks since January 2025 (Tir 2017 E.C.), when its operations were largely suspended due to financial constraints and labor disputes. The most pressing concern has been four months of unpaid salaries, prompting workers to stage peaceful demonstrations at the factory. Employees had demanded immediate payment, but tensions escalated when security forces were deployed to the site. Reports from workers suggested that heavily armed personnel and military vehicles were stationed around the factory, which some saw as an intimidation tactic. While some viewed the response as a precautionary measure to maintain order, others criticized it as an attempt to suppress worker demands. Despite the tensions, 421 employees remain on-site, primarily engaged in administrative and agricultural roles. Those who left have been reportedly reassigned to other sugar factories, and efforts are underway to compensate them for their unpaid wages. Ethiopia’s government has been actively pursuing the privatization of its sugar factories, including Tana Beles, as part of a broader economic reform strategy. The factory, previously under the Ethiopian Sugar Corporation, has now been placed under an independent board, reflecting the government’s shift toward increased operational efficiency and potential private investment. As part of this process, discussions have been held with Dangote Group, one of Africa’s largest industrial conglomerates. Aliko Dangote, CEO of Dangote Group, recently met with Ethiopian officials to explore investment opportunities in the sugar sector. The company has already conducted site visits and feasibility assessments at Omo Kuraz Sugar Factory No. 3, where it is involved in expansion projects. If negotiations advance, Dangote could play a key role in modernizing Ethiopia’s sugar production industry. Dr. Biruk confirmed that discussions with investors are ongoing, as the government seeks to transition the sugar industry into private ownership. He acknowledged that privatization efforts remain complex, as they involve balancing public sector interests, workforce stability, and foreign investment considerations. While the new board’s establishment marks progress, significant challenges remain in the road to recovery. The factory must resolve outstanding salary disputes, expand cultivated land, and restore full production capacity within the planned one-year timeframe. Additionally, with the privatization process still evolving, it remains to be seen whether investor interest will translate into tangible financial commitments. For now, the situation at Tana Beles Sugar Factory remains uncertain, with both employees and industry stakeholders closely watching how the restructuring efforts unfold. The success of these measures will determine whether the factory can regain stability and contribute meaningfully to Ethiopia’s sugar production sector in the long run.

Zewditu Memorial Hospital Opens Ethiopia’s First Pediatric Neurosurgery Center

Zewditu Memorial Hospital Opens Ethiopia’s First Pediatric Neurosurgery Center Addis Ababa, February 21, 2025 – Ethiopia has taken a significant step in specialized pediatric care with the inauguration of the country’s first dedicated Pediatric Neurosurgery Center at Zewditu Memorial Hospital. Equipped with cutting-edge medical technology, the center aims to transform the treatment of children in need of life-saving neurosurgical interventions. The center features state-of-the-art equipment, including a Leica operating microscope, neuroendoscopy, an Intensive Care Unit (ICU), a Neonatal Intensive Care Unit (NICU), an Emergency Unit, and advanced diagnostic tools such as CT scans and Ultrasound. This marks a groundbreaking moment for the country’s healthcare sector, as it enhances the accessibility of specialized neurosurgical care for children. The inauguration ceremony was attended by key government officials, including Addis Ababa Mayor Adanech Abebe, Minister of Health Dr. Mekdes Daba, and Addis Ababa Health Bureau Head Dr. Yohannes Chala, among other dignitaries. In her remarks, Mayor Adanech emphasized the importance of this facility in addressing the critical health challenges faced by children suffering from neurological disorders. She highlighted the administration’s commitment to improving pediatric healthcare services and making Addis Ababa a model city for child-friendly medical infrastructure. “The establishment of this center is a crucial milestone in our journey to providing comprehensive healthcare services for children. It will significantly improve access to specialized treatments and save countless lives,” said the Minister of Health, Dr. Mekdes Daba. The construction and development of the Pediatric Neurosurgery Center were made possible through the generous support of the Reach Another Foundation. Expressing gratitude, Mayor Adanech acknowledged the foundation’s contribution, underscoring the vital role of partnerships in advancing healthcare in Ethiopia. With the launch of this center, an estimated 5,000 children annually will benefit from advanced neurosurgical procedures. The facility offers emergency and specialized surgical services tailored to pediatric neurological conditions, ensuring timely interventions and improved survival rates. This landmark achievement reflects Ethiopia’s ongoing efforts to enhance medical services and expand access to critical healthcare for its youngest citizens.

Ethiopia Unveils Locally Manufactured Electronic Passport

Ethiopia Unveils Locally Manufactured Electronic Passport Addis Ababa, Ethiopia – February 21, 2025 – Ethiopia has introduced its first electronic passport (E-passport) in a launch event held at the Science Museum in Addis Ababa. The new passport is expected to enhance security, streamline travel documentation, and modernize the country’s immigration system. The initiative is led by Immigration and Citizenship Services (ICS) in collaboration with Ethiopian Investment Holdings (EIH) and Toppan Security Ethiopia S.C. The launch event was attended by President Taye Atske Selassie, alongside senior government officials, diplomats, and representatives from various sectors. New Features and Security Enhancements The E-passport includes biometric technology, advanced encryption, and tamper-proof materials, aligning with International Civil Aviation Organization (ICAO) standards. It features an embedded electronic chip that securely stores the holder’s personal details, including biometric data such as fingerprints. Authorities have stated that these enhancements are aimed at preventing identity fraud, improving border security, and expediting verification processes at immigration checkpoints. The new system replaces the previous machine-readable passport (MRP) and is expected to reduce processing times for applicants. Shift to Local Production Unlike its predecessor, which was produced by foreign companies, the new passport is manufactured in Ethiopia. Officials have highlighted that local production is expected to reduce costs associated with foreign outsourcing, while also contributing to job creation in the printing and security technology sectors. The design of the E-passport incorporates Ethiopian cultural and historical elements, replacing the previous design that was outsourced internationally. Authorities noted that this transition gives Ethiopia greater control over passport issuance and strengthens national security by keeping production and personal data management within the country. Expansion of Immigration Services Alongside the E-passport launch, the Immigration and Citizenship Services (ICS) has announced plans for a broader digital transformation in Ethiopia’s immigration system. Starting February 24, 2025, ICS will introduce: Visa, ID, and permit services for the public Modernized registration and issuance systems to improve efficiency Enhanced security measures to prevent fraud and identity theft Further updates are expected regarding: Visa services at Bole International Airport Company registration processes The rollout of E-passport services for the general public is set to be announced in the coming weeks. Officials say these efforts are part of a broader initiative to improve accessibility and security in travel documentation. Public Awareness and Implementation The transition from machine-readable passports (MRP) to electronic passports was presented at the launch event, with an exhibition showcasing the enhanced security features and expected benefits of the new system. As part of the implementation process, ICS plans to conduct a nationwide awareness campaign to provide information on how citizens can apply for and transition to the new passport system. Implications for Ethiopia’s Travel and Security Infrastructure The introduction of the E-passport is seen as a step toward modernizing Ethiopia’s travel documentation system, with authorities emphasizing its potential to strengthen border security, improve travel efficiency, and enhance the country’s international recognition. The shift to local production is also expected to have economic benefits, reducing dependency on foreign suppliers and lowering costs associated with passport issuance. The full rollout and public adoption of the new passport will be closely monitored in the coming months as Ethiopia continues its efforts to digitize and modernize immigration services. 1 COMMENT Wossen mulugeta abate February 21, 2025 At 6:26 pm I think it’s is interested idea In my opinion, it is an interesting idea. I think it’s is interested idea In my opinion, it is an interesting idea. Comments are closed.

Samsung Galaxy S25 Ultra Officially Launches in Ethiopia, Featuring Amharic Language Support

Samsung Galaxy S25 Ultra Officially Launches in Ethiopia, Featuring Amharic Language Support Addis Ababa, Ethiopia – Samsung has officially introduced its latest flagship smartphone, the Galaxy S25 Ultra, in Ethiopia during an exclusive event held at the Sheraton Addis Hotel. The launch marks a significant milestone for Samsung’s presence in the Ethiopian market, with special emphasis on the device’s enhanced Amharic language support, a feature that has sparked widespread interest among local consumers. A Smarter Smartphone with AI-Powered Features The Galaxy S25 Ultra comes equipped with cutting-edge artificial intelligence (AI) technology designed to simplify everyday tasks and enhance user experiences. Samsung executives and industry experts at the event highlighted how the phone’s AI capabilities can improve health tracking, fitness routines, lifestyle efficiency, and photography. One of the most notable advancements is its ability to provide real-time language translation, now with Amharic support, making communication smoother for Ethiopian users. This feature, part of Samsung’s Live Translation tool, can translate voice calls and text messages across 17 languages, allowing users to engage seamlessly across different linguistic backgrounds. Additionally, the device’s AI-driven enhancements extend to voice-assisted controls, where users can retrieve emails, make calls, and access media hands-free. The advanced noise cancellation system ensures clear audio experiences even in noisy environments, a feature that will benefit users in bustling urban settings. Refined Design and Cutting-Edge Camera Technology The Galaxy S25 Ultra is not only a technological powerhouse but also a design statement. Samsung has introduced the device in a selection of premium colors, including Titanium Silver Blue, Titanium Black, Titanium White Silver, and Titanium Gray, reflecting its sleek and futuristic aesthetic. At the heart of the phone’s appeal is its revolutionary camera system, designed to elevate smartphone photography to professional levels. The 200MP primary camera, supported by enhanced AI-driven image processing, offers superior clarity, even in low-light conditions. The phone also boasts improved zoom capabilities, allowing users to capture distant subjects with unprecedented sharpness. Samsung’s adaptive refresh rate display, now reaching up to 120Hz, ensures ultra-smooth visuals for gaming and streaming, making it an ideal device for entertainment enthusiasts. Samsung’s Commitment to Ethiopian Consumers Speaking at the launch event, Sarah Tadesse, CEO of Samsung Ethiopia, emphasized the company’s dedication to meeting the evolving technology needs of Ethiopian consumers. “At Samsung, we are committed to bringing innovative experiences to our customers. With the launch of the Galaxy S25 Ultra, we are introducing a device that seamlessly integrates cutting-edge AI technology, world-class photography, and local language support to enhance everyday digital interactions,” she stated. The phone’s deep integration with local languages underscores Samsung’s recognition of Ethiopia’s growing tech-savvy population and its demand for more personalized digital solutions. A New Era of Smartphone Innovation Samsung’s Galaxy S25 Ultra cements the brand’s position as a global leader in consumer technology, with a focus on AI-driven enhancements that redefine smartphone capabilities. The company remains at the forefront of mobile innovation, developing devices that bridge the gap between technology and daily life. With the introduction of the Galaxy S25 Ultra in Ethiopia, Samsung is setting a new standard for smartphone functionality, user experience, and localized innovation. Ethiopian consumers can now experience the future of mobile technology, tailored to their needs, in their own language.

Yango Ride Introduces Comfort Class, Delivering Enhanced Ride-Hailing at an Affordable Price

Yango Ride Introduces Comfort Class, Delivering Enhanced Ride-Hailing at an Affordable Price Addis Ababa, Ethiopia – February , 2024 – Yango Ride, a ride-hailing service under the global tech company Yango Group, has introduced its new Comfort Class in Ethiopia. With a starting fare of just 100 birr, the new tariff offers passengers a premium travel experience designed to meet the evolving needs of local passengers. By providing newer vehicles, higher-rated drivers, and the option to turn on air conditioning, the Comfort Class ensures a more refined and enjoyable journey for passengers while maintaining affordability. The launch of the Comfort Class is a direct response to feedback from Yango Ride users, who expressed a desire for access to newer, more comfortable vehicles at a reasonable price. Yango has carefully designed the service to address this demand, offering passengers a small premium upgrade from the Economy tariff, which starts at 92 birr. With two tariffs available in Ethiopia — Economy and Comfort — the service continues to provide simple, user-focused options that cater to different customer needs without compromising on quality. Comfort rides are powered by a fleet of modern vehicles, all manufactured in 2018 or later, ensuring that passengers travel in style. Additionally, every vehicle in the Comfort class comes equipped with air conditioning, allowing riders to enjoy a pleasant environment. These rides are driven by highly rated drivers who are committed to delivering exceptional service, making Comfort a standout choice for those seeking elevated ride experience. According to Dr. Yeknalem Abebe, Country Manager of Yango Ethiopia, the introduction of Comfort Class marks a significant milestone in the company’s journey to redefine ride-hailing in the country. “At Yango, we prioritize listening to our users and responding to their needs with services tailored to their lifestyles. Comfort provides the perfect balance of quality and affordability, ensuring that passengers can enjoy a superior experience without stretching their budgets. We are proud to set a new standard for ride-hailing in Ethiopia and look forward to welcoming more passengers into our Comfort class.” Yango has introduced a seamless booking experience for its Comfort Class rides, allowing passengers to select their preferred tariff directly through the Yango app. To celebrate this enhanced service, Yango is offering a 10% discount on the first Comfort Class trip, available until March 10, 2024, with the promo code “ETCOMFORT”. Yango Ride’s continued efforts to innovate and improve its services reflect its larger mission to transform global technologies into solutions that meet local needs. With the launch of Comfort, the company reaffirms its dedication to providing enhanced mobility options that elevate the daily lives of Ethiopian residents. About Yango Group Yango Group is an international tech company headquartered in Dubai, transforming globally sourced technologies into everyday services that are tailored to local communities. With an unwavering commitment to innovation, we reshape and enhance leading cutting-edge technologies from around the world into seamlessly integrated daily services for diverse regions. Our mission is to bridge the gap between leading world innovations and local communities, fostering connections and enhancing everyday living experiences. Yango’s multi-functional app offers several digital city services across 20+ countries in Africa, Latin America, Europe, and the Middle East. Yango’s multilingual app is available for free on Android and iOS.For more information, please contact:  pr@yango.com