WorldRemit terminates service with four Ethiopian Banks

WorldRemit terminates service with four Ethiopian Banks One of the leading international money transfer company , WorldRemit, announced that it has terminated the money transfer service it renders through Abay Bank, Oromia Bank, Wegagen Bank and Nib Bank. In a message sent out to its customers WorldRemit said that it takes such measures when it believes that it cannot maintain its service quality. “At WorldRemit, we pride ourselves on offering the best possible service to our customers. Sometimes that means removing services where we don’t believe we can provide the best-quality service or the widest range of options for you,” the message reads. “We’ve decided to remove bank transfers to Abay Bank, Oromia International Bank, Wegagen Bank, NIB International Bank. From 27/06/2022, you’ll no longer be able to transfer funds to Abay Bank, Oromia International Bank, Wegagen Bank, NIB International Bank Bank accounts,” the company said. WorldRemit assured its customers that it will continue providing the money transfer service to Ethiopia via other banks. “We do apologise for any inconvenience this causes to you or your loved ones. The good news is you will still be able to send funds to other banks in Ethiopia. Have a look at our website and app for more information.” Tags ethiopian news ethiopian news daily Money Transfer WorldRemit

Amhara Bank SC Open for Business With 72 Branches

Amhara Bank SC Open for Business With 72 Branches Amhara Bank SC has officially launched its operations today. The inauguration ceremony of Amhara Bank SC was held at the Bank’s headquarters in Legehar today.The inauguration ceremony was attended by the Governor of the National Bank, Dr. Yinager Dessie, the Speaker of the House of Federation, Agenehu Teshager, the Chief of the Amhara Regional State, Dr. Yilkal Kefale, various government officials and invited guests. During its official launch date Amhara Bank opened 72 branches. The Chief Executive of the Amhara Region, Dr. Yilkal Kefale, conveyed his congratulations to the organizers and founders of the Bank as well as to those who contributed to the realization of the Bank. He said he believes the bank will do a better job of mobilizing international and national experiences in the financial sector in connection with the country’s transformation. He said the bank will play its role in accelerating the development of the country and its citizens by being inclusive and competitive. Melaku Fenta, Chairman of the Board of the Bank, said Amhara Bank has gained 185,000 shareholders in its one-year and three-month share sale. He said 6.5 billion birr has been signed and 5.9 billion birr has been paid up. As part of its inauguration programme the bank bank will open a savings account of 2000 Birr for newborns today. Bank of Amhara List of 72 branches! ******* Addis Ababa Branches 1. Addisu Gebeya 2. Adwa Bridge 3. 4 Kilo 4. Ayat Square 5. Beqelo Bet 6. Bole 24 7. Bole Bulbula 8. Bole Medhanialem 9. Bole Michael 10. Commerce 11. Dubai Tera 12. Ehil Berenda 13. Ferensay Legasyon 14. Gojjam Berenda 15. Gotera 16. Hannah Mariam 17. Jemo 18. Lafto 19. Lem Hotel 20. Lideta 21. Sarbet 22. Shema Tera 23. Tor Hailoch 24. Legehar (Headquarters) Branches of Bahir Dar 1. Bahir Dar 2. Dej Azmach Belay Zeleke 3. Dengel 4. Fasilo 5. Gion 6. Shembet 7. Zenbaba Gondar branches 1. Gondar 2. Abba Samuel 3. Arada 4. Maraki 5. Atse Fasildes Dessie branches 1. Dessie 2.Tosa Debre Tabor branches 1. Debre Tabor 2. Guna Branches of Debarkus 1. Debre Markos 2. Menqorer Branches of other cities 1. Genda Wuha 2. Shoa Robit 3. Hosanna 4.Bishoftu 5. Yirgalem 6. Dabat 7. Hayq 8. Dangla 9. Bichna 10. Dansha 11. Waliso 12. Debre Berhan 13. Finote Selam 14. Areti 15. Kombolcha 16. Hawassa 17. Loggia 18. Kemise 19. Mekanesalam 20. Motta 21. Maksegno 22. Debrework 23. Merawi 24. Dejen 25. Sekota 26. Woldia 27. Wolkite 28. Dire Dawa 29. Adama 30. Injibara **** Amhara Bank, Beyond the Bank! Tags amhara bank branches amhara bank inauguration

Yene Guzo among the four winners of the DT4A Innovation Challenge

Yene Guzo among the four winners of the DT4A Innovation Challenge Addis Ababa (June 14, 2022)—Today the Digital Transport for Africa (DT4A) initiative, led by WRI and partners and funded by the French Development Agency (AFD), selected four winners of the first-ever DT4A Innovation Challenge. From private companies to universities and NGOs, these initiatives are helping shift transportation toward more sustainable, equitable results through open data, particularly in the paratransit or informal transport sector. Each winner of the Innovation Challenge — projects based in Côte d’Ivoire, Ethiopia, South Africa and Sudan — will receive a phased award of US$30,000. Over the next year, each project will use support from DT4A to implement new activities, culminating in presentations in June 2023 of their progress and impact. Today, only 15 African cities have mapped their public transport systems and minibus taxi networks in a standardized and open format. At least 105 million people living in African cities do not have reliable information on their transit systems. Lack of data on transit systems presents a major barrier to improving transportation, including data on routes, users and operators. Most African cities rely on some form of informal or semi-formal transport, dominated by fragmented private operators. Fully mapping cities’ transit networks can not only improve the experience of users but foster ecosystems and skills that can enable African cities to leverage the data revolution. The four winners of the DT4A Innovation Challenge were chosen from more than 100 submissions: eWarren Mobility, Abidjan, Côte d’Ivoire eWarren is a start-up mobile app that offers a cashless payment system to passengers of “woro-woro” municipal taxis and traditional ferries in the municipality of Cocody, Abidjan. eWarren plans to expand the capabilities of the app to allow passengers to reserve seats, access their traveler information, and generate dynamic datasets around informal public transport in the standard GTFS format. The data will then be made available to others to use and test. Such a database could even be coupled with Abidjan’s formal public transport network to enable users to seamlessly use both formal and informal services. eWarren also plans to expand digital payments to mini-bus services. AddisMap, Addis Ababa, Ethiopia YeneGuzo, by AddisMap, is a mobile application made from the open source Trufi application and OpenStreetMap data with the Ethiopian Ministry of Transport and Logistics. YeneGuzo helps both transport service providers and riders understand different transport options available at a given place and time. The application works in the native Amharic language and uses a minimal interface to be as accessible to as many riders as possible. Furthermore, it is freely distributed and open source so it can be improved by anyone. AddisMap plans to improve awareness of YeneGuzo and its trip planning applications by including multiple modes, conducting a massive data collection and editing campaign, developing public relations and training materials, and launching a communications campaign. With more than 210 designated routes across two major public bus services, two light rail routes and more than 500 additional informal mini-bus taxi routes across Addis Ababa, each operating with their own schedules, routes and stations, there are significant efficiencies to be gained. GoMetro, Stellenbosch, South Africa GoMetro plans to collect and map the operational data of Stellenbosch’s minibus taxis with the purpose of developing a business feasibility model to transition the entire 80-vehicle fleet to electric. The minibus taxi accounts for 84% of public transport services and 74% of passenger journeys in South Africa, but no effort has been made to reduce the fleet’s carbon footprint. Beyond fewer carbon emissions, electrifying South Africa’s minibus taxis can bring benefits such as cleaner air, longer service life and improved service quality. But feasibility studies for the electric transition are difficult if not impossible without operational and mapping data on how minibus taxis are used day to day. GoMetro will collect a full fleet operational dataset of the entire informal transit fleet in the town of Stellenbosch in order to investigate the operational opportunity of electromobility conversion from diesel to electric minibuses. KhartouMap, Khartoum, Sudan The KhartouMap initiative plans to map the semi-formal bus system of Greater Khartoum, home to nearly 8 million people, for the first time. No official map is currently available to the public. Working with the local government and transport authorities, they aim to generate both physical maps and GTFS-compliant data feeds that can then be integrated into other mapping services. In addition, KhartouMap intends to conduct the country’s largest household mobility survey, with the aim of collecting detailed information about origins and destinations, personal travel behavior and transit accessibility. They also plan to build innovation capacity through “hackathon” workshops at local universities and with entrepreneurial communities. About Digital Transport for Africa Digital Transport for Africa is a collaborative digital commons that supports urban mobility projects in Africa through open standardized data, open-source software and peer-to-peer knowledge sharing. Learn more at digitaltransport4africa.org. About WRI Ross Center for Sustainable Cities WRI Ross Center for Sustainable Cities is World Resources Institute’s program dedicated to shaping a future where cities work better for everyone. It enables more connected, compact and coordinated cities. The Center expands the transport and urban development expertise of the EMBARQ network to catalyze innovative solutions in other sectors, including air quality, water, buildings, land use and energy. It combines the research excellence of WRI with two decades of on-the-ground impact through a network of more than 370 experts working from Brazil, China, Colombia, Ethiopia, India, Mexico, Turkey and the United States to make cities around the world better places to live. More information at www.wrirosscities.org. Tags ethiopian news ethiopian news daily ethiopian news today Yene Guzo

Microsoft collaborates with the Ethiopian Ministry of Education to help digitize the education sector

Microsoft collaborates with the Ethiopian Ministry of Education to help digitize the education sector As part of our Leaders in Digital Transformation of Education program, Microsoft is empowering education systems to move beyond siloed and static data to integrated, real-time insights using modern data and AI services and practices supported by our solution partners. Introducing advanced analytics in education “The Ministry of Education has a vision to sustainably build education and training systems that ensure quality and equitable education for all Ethiopian citizens that will produce a competent and competitive workforce fuelling the country’s economic development. This system allows us to pursue our digital strategy across the education sector,” says Zelalem Assefa, Chief Executive Officer, ICT, and Digital Education. “Microsoft is committed to helping education leaders navigate the complexity of digital transformation. Our goal is to partner with governments and education ministries to envision what is possible and achieve it by leveraging data analytics to optimize student outcomes. In the process, this helps create efficient, responsive, and sustainable processes and allocation of resources,” comments Louise Macquet, Learning Passport and EMIS Programme Manager, Microsoft. Tags ethiopian news ethiopian news daily ethiopian news today

World Bank agrees to provide $ 405 million to Ethiopia

World Bank agrees to provide $ 405 million to Ethiopia The Ministry of Finance has signed a $ 405 million grant agreement with the World Bank. The agreement was signed by Finance Minister Ahmed Shede and World Bank Ethiopia Representative Osman Diye. The money will be used for pastoralism and drought relief in the arid areas, as well as for the prevention of the CVD-19 epidemic. According to ENA, $ 210 million will be used for the development of groundwater in pastoral and arid areas, while the rest will be used to prevent the outbreak of CVD-19 virus. Tags Ahmed Shide ethiopia news today ethiopian news Ministry of Finance

Ethiopian Wins The APEX Passenger Choice Awards 2022

Ethiopian Wins The APEX Passenger Choice Awards 2022 Addis Ababa, 14 June 2022, Ethiopian Airlines, Africa’s leading aviation group, is pleased to announce that it has won the 2022 APEX Regional Passenger Choice Awards for ‘Best Entertainment’ and ‘Best Cabin Service’ in Africa. The award was held in Dublin, Ireland to celebrate airlines being honored with the 2022 APEX Regional Passenger Choice Awards. The awards recognize airlines in various regions for providing the best passenger experiences as rated by passengers. Commenting on the awards, Ethiopian Airlines Group CEO Mr. Mesfin Tasew, said “We are very glad to have won the 2022 APEX Regional Passenger Choice Awards for ‘Best Entertainment’ and ‘Best Cabin Service’ among African carriers. As a customer-centric airline, we do our best to exceed passengers’ expectations when it comes to the service we deliver onboard our fights. I would like to thank our passengers for their vote of confidence, and would like to assure them that we will remain committed to further enhance our in-flight service including our entertainment products to elevate customer experience.” APEX partnered with the world’s highest-rated travel-organizing app to gather data based on neutral, third-party passenger feedback and insights. For this year’s award, over one million flights were rated by passengers across more than 600 airlines from around the world using a five-star scale. Passengers were given the opportunity to provide anonymous ratings in various subcategories, and a third-party auditing company independently certified the awards. This is the fifth time that Ethiopian is crowned with the APEX Passenger Choice Awards following the ‘Best In-Flight Entertainment in Africa’ award and the “Best Airline in Africa” awards it won for consecutive years in the past. Ethiopian has been winning multiple accolades for its remarkable passenger and cargo services even amid the Covid pandemic, including the awards it received at SKYTRAX 2021 World Airline Awards in four categories. Tags ethiopian airlines

Bank of Abyssinia launches first interest-free virtual banking services in the banking industry.

Bank of Abyssinia launches first interest-free virtual banking services in the banking industry. Bank of Abyssinia launches first interest-free virtual banking services in the banking industry. During its five-year strategic plan, the Bank has taken a number of  steps, focusing on digital technology (Digitalization) with the aim of providing a more convenient and advanced banking service to its customers. Accordingly, in the first phase of the strategic plan, was able to launch online banking services such as Mobile Banking, Internet Banking, Abyssinia Online, E-Commerce Payment Gateway, and make ATMs and POS devices more accessible to its customers. On September 13, 2022 Abyssinia Bank launched its first virtual banking center in the banking industry. This Virtual Banking Service Center provides complete banking services with the help of bank’s customer advisors. Interactive Teller Machine is a 24-hour, 7-hour, 7-day-a-week service. Some of the services that customers will receive at this secure Virtual Center are: – Account opening: – Deposit or spend money; – Checking and depositing checks; – Domestic hawala; – Money transfer and – Access digital banking services such as Mobile Banking, Internet Banking, Card Banking and Mobile Money. Bank of Abyssinia has launched an interest-free virtual banking service in the Kolfe Keranio sub-city of Addis Ababa on June 10, 2022 to make this service free of charge. Tags Bank of Abyssinia

Ethiopia and the Italian Republic Signed a Highly Concessional Loan Agreement

Ethiopia and the Italian Republic Signed a Highly Concessional Loan Agreement Ethiopia and the Italian Republic Signed a Highly Concessional Loan Agreemen A concessional loan agreement amounting to 22 million euros (Approximately 1.23 billion ETB) was signed today June 13, 2022, between the Federal Democratic Republic of Ethiopia and the Italian Republic. The allocated finance will be used to support the development of the Bulbula, Bure, Yirgalem, and Ba’eker Integrated Agro-Industrial Parks (IAIPs) and the proximity of Rural Transformation Centres (RTCs), to create jobs in the rural areas of the country, increase farmers’ incomes, generate export revenues, substitute imports of agro-processed goods and contribute to economic growth and structural transformation. The main activities to be performed by the intervention are strengthening the capacities of the National and Regional Industrial Park Development Corporations, strengthening the organizational and the business capacities of farmers’ organizations and private investors, and creating linkages between farmers’ organizations and agro-processors through innovative contractual arrangements (contract farming, supply contracts, etc.), Constructing and equipping of centers of excellence in the IAIPs and facilitating credit for equipment for Small and Medium Manufacturing Enterprises in the selected value chains. The intervention will improve the involvement of private sectors in the Integrated Agro-Industrial Parks and Rural Transformation Centers, and their competitiveness in the internal and international market, which is in line with the Home-Grown Economic Reform agenda and the 10 years development plan of Ethiopia. The loan agreement was signed by Mr. Ahmed Shide, Minister of Finance, and Mr. Luigi Di MAIO, Minister of Foreign Affairs and International Cooperation of Italy on behalf of the Federal Democratic Republic of Ethiopia and the Government of Italy respectively. Source: Ministry of Finance Ethiopia Tags ethiopian news

An ugly face of crypto

An ugly face of crypto Mikael Alemu is a CEO and co-founder of “10 Green Gigawatt for Ethiopia”, an international initiative to transform Ethiopian energy systems and introduce solar energy as a major source of electricity. He contributes regularly to the Telegram channel t.me/tengigawatt, join this channel to read. One can hardly imagine a modern capital or a major city that doesn’t have its own Manhattan: a shiny cluster of glassy skyscrapers. Old capitals of Europe tend to keep this “fashion item” off-center, assigning a “skyscrapers’ quarter” further from the historical center. Moscow, the capital of Russia, follows this trendy approach. A dozen or so Moscow skyscrapers are clustered 10 kilometers to the west of Kremlin in so-called Moscow City, that hosts ministries, government-owned banks, state corporations and a few remaining multi-billion private holding companies. However, some tenants of blue-green colored towers of Moscow City are engaged in very special kind of business operations. Moscow City is a home to crypto-money launderers, who accept bags of cash in exchange for bitcoin transactions. There are at least 10 (sic!) different “cryptocurrency exchange offices” in Moscow City, and they are processing 7-10 billion dollars’ worth of cryptocurrencies each month. Yes, you’ve heard me right – the Russian black market of crypto is comparable to the full GDP of Ethiopia. One may ask – why would I ruminate about a gigantic cold country at the very north of our planet while writing about Ethiopia – a bit smaller, a lot warmer, and much better located? Good question, as my professors at Harvard would say, and it has two answers. First, I was advising the Government of Russia regarding crypto. That was a while ago, in 2014-2016, but the debate hasn’t changed much since then. One part of the government – in Russian they are called “siloviki” – argued for a total ban on crypto and criminalizing it in a same way that heavy drugs are criminalized: you cannot use, own, possess, transport, transfer. Another part (and I was an advisor to those people) argued that the technology behind crypto (distributed ledger, i.e., blockchain) must be supported and encouraged, while the financial instrument of cryptocurrencies is to be entered into economic reality, taxed, and accounted for. No one in the Russian Government has advocated for the full adoption of some cryptocurrency as an official currency for the country – that would be a clear violation of the sovereignty of the state, as currency emission is the state’s prerogative and one of the most important mechanisms that supports work of the government. What we see in Ethiopia reminds me of that dichotomy a lot: the government must either ban/criminalize crypto or make it a legal tender of value, taxable and accountable. It seems that the Ethiopian Government has chosen the same path that Russia has chosen 6 years ago: do nothing. No statement was issued by Ethiopian law enforcement ministries or ministries in charge of innovation/technologies. The National Bank of Ethiopia has stated its professional and calm position: cryptocurrencies are not a legal tender of value in Ethiopia, please refrain from using it. The Russian Central Bank has issued statements in that exact voice in 2014 and then in 2017 – as did Central Banks in Europe, US, and many other countries. A second reason that had me refresh my memory is to tell a “Russian lesson” for every person who believes that cryptocurrencies will change the world. This “new world” looks like this: Chinese clothes are being sold at street markets of Moscow for the non-registered cash; by the end of the workday this cash is bagged in huge sacks, driven to the” crypto exchange” offices in Moscow City; “exchange” office sends USDT (cryptocurrency that is nominated in dollars) to China on behalf of the client to buy more clothes to sell. In the “new world” of modern-day Russia bribes are paid in crypto; ransoms are collected in crypto; arms and drugs are sold in crypto. Avoiding international sanctions Russian companies pay suppliers in crypto and Russian citizens transfer substantial amounts across the globe avoiding local and international control and taxation. The criminal world was an early adopter of bitcoin. The Bitcoin blockchain was launched in 2009. In two short years most of the cryptocurrency was fueling the success of “Silk Road” – an infamous black market online platform, dubbed “Amazon.com of dark web”. “Silk Road” soon became a leader in drugs and arms trade, to be shut down by the FBI in 2013. Almost 10 years have passed since then, and now cryptocurrencies serve every kind of shady financial transactions:  from simple tax evasion to bribes and ransoms, from sales of sanctioned oil-extraction technologies to arms, drugs and mercenaries’ pay. We may look at crypto as a three-headed dragon. First head is an ugly head of cryptocurrency as an unregulated payment mechanism that permits bad actors to transfer illicit funds for illicit reasons. No wonder that every government in the world is against this. Second head is a beautiful head of cryptocurrency that can fund charities and development projects, can bring financial services to the unbanked, can create monetary incentives to non-profit activity. It is almost impossible to find someone willing to stop this ‘force of good’. Many countries allow cryptocurrencies as a trade-able asset like gold or diamonds thus providing a regulatory framework, albeit with regulatory restrictions and certain taxation. And the third head is a nerdy head of blockchain technology that is decentralized database with built-it heavy encryption. Many smart people think that blockchain technology has unlimited potential to improve the world. There are two different ways for governments to approach a technology side of crypto: some will encourage and motivate the development of blockchain-based projects, while others will prefer technology-agnostic approach and leave it to the market/investors/customers to decide on the most promising technology. I would leave you with three simple questions: Do you believe that the government can stop illegal use of crypto without banning it? How exactly can this be executed? Do you believe that the cryptocurrency market will flourish if crypto will be treated as other valuable assets: registered and taxed? Do you think that there is a way for the government to decide which technologies should be prioritized for development? Mikael Alemu is a CEO and co-founder of “10 Green Gigawatt for Ethiopia”, an international initiative to transform Ethiopian energy systems and introduce solar energy as a major source of electricity. He contributes regularly to the Telegram channel t.me/tengigawatt, join this channel to read. Tags cryptocurrencies