Tsehay Bank has officially started its operations

Tsehay Bank has officially started its operations Tsehay Bank has officially started its operations. National Bank Governor Dr. Yinagar Dese, the bank’s board leaders and invited guests were present at the bank’s launch program. The governor of the National Bank, Mr. Yinager Dese, said that the changes that have been taking place in the past four years in terms of new banks joining the market are of great importance in terms of making banking work recognized in the community. He said that it is a great opportunity for private banks to enter the market in this way in order to make banking access to the rural community in an efficient way, so we should focus on making it accessible in a proper way. In addition, they stressed that preparations are being made for foreign banks to enter the country and that the competition will not be easy for local banks, so they should work hard. The bank started its operations with 2.9 billion birr signed capital and 734 million birr paid up capital. Yared Mesfen, the executive director of the bank, said that the bank has completed the preliminary preparations and started working by establishing regular banking services and interest-free banking services as well as digital banking services. It was pointed out that Tsehay Bank has started operations today with 30 branches and plans to reach 100 branches this year. Tags Tsehay Bank Tsehay Bank Branches

Ethiopian Airlines To Serve Zürich This Winter

Ethiopian Airlines To Serve Zürich This Winter Zürich will be served by Ethiopian Airlines from October, bringing to 16 its European passenger route network this winter. It comes as many of the Star Alliance member’s European routes change, mainly in terms of where they stop en route. Ethiopian adds Zürich Ethiopian will begin Zürich on October 31st. It’ll operate via Milan Malpensa in both directions. Like other European routes, Ethiopian will remain on the ground in Zürich all day to increase Africa-wide connections. This also enables aircraft to be wet-leased on a daily basis. Zürich will have flights on Mondays, Wednesdays, and Fridays. It’ll be served by 315-seat B787-9s, with 30 in business and 285 in economy. The schedule is as follows, with all times local. It won’t have fifth freedom traffic rights: Addis Ababa to Milan Malpensa: ET736, 00:15-04:50 Milan Malpensa to Zürich: ET736, 05:50-07:00 Zürich to Milan Malpensa: ET737, 20:30-21:40 Milan Malpensa to Addis Ababa: ET737, 22:30-07:05+1 Ethiopian will target the roughly 169,000 passengers that booking data shows traveled between Zürich and Africa in 2019. That excludes North Africa for circuity reasons and those who flew non-stop with SWISS as they’re unlikely to switch to a far less competitive two-stop option. Cape Town, Johannesburg, Windhoek, Seychelles, and Mombasa were the five largest markets. Multiple other European changes This winter, Brussels will be a so-called terminator service, whereby it won’t continue to Manchester. It’ll now be dependent on Brussels origin and destination traffic. It must be confident of filling the aircraft. If it doesn’t, loads, yields, and performance will reduce. The changes are summarized below: h on October 31st. It’ll operate via Milan Malpensa in both directions. Like other European routes, Ethiopian will remain on the ground in Zürich all day to increase Africa-wide connections. This also enables aircraft to be wet-leased on a daily basis. Zürich will have flights on Mondays, Wednesdays, and Fridays. It’ll be served by 315-seat B787-9s, with 30 in business and 285 in economy. The schedule is as follows, with all times local. It won’t have fifth freedom traffic rights: Addis Ababa to Milan Malpensa: ET736, 00:15-04:50 Milan Malpensa to Zürich: ET736, 05:50-07:00 Zürich to Milan Malpensa: ET737, 20:30-21:40 Milan Malpensa to Addis Ababa: ET737, 22:30-07:05+1 Ethiopian will target the roughly 169,000 passengers that booking data shows traveled between Zürich and Africa in 2019. That excludes North Africa for circuity reasons and those who flew non-stop with SWISS as they’re unlikely to switch to a far less competitive two-stop option. Cape Town, Johannesburg, Windhoek, Seychelles, and Mombasa were the five largest markets. Multiple other European changes This winter, Brussels will be a so-called terminator service, whereby it won’t continue to Manchester. It’ll now be dependent on Brussels origin and destination traffic. It must be confident of filling the aircraft. If it doesn’t, loads, yields, and performance will reduce. The changes are summarized below: Addis Ababa-Brussels: 1x daily; no longer extending to Manchester, so 3x weekly terminator service (B787-9, A350-900), 4x weekly via Vienna (B787-9, B777-200LR) Addis Ababa-Manchester: will route via Geneva rather than Brussels; 4x weekly (B787-9) Addis Ababa-Milan: will be 1x daily non-stop rather than 1x daily via Rome; 4x weekly will be a terminator service (B777-200LR), 3x will continue to Zürich (B787-9) Addis Ababa-Rome: 1x daily will no longer continue to Milan; 4x weekly will be a terminator service (B777-200LR), 3x weekly will continue to Marseille (B777-200LR) Addis Ababa-Marseille: will route via Rome than Geneva; 3x weekly (B777-200LR) Tags ethiopian airlines

Statement by President Biden on the U.S.-Africa Leaders Summit

Statement by President Biden on the U.S.-Africa Leaders Summit I look forward to hosting leaders from across the African continent in Washington, DC on December 13-15, 2022, for the U.S.-Africa Leaders Summit.  The Summit will demonstrate the United States’ enduring commitment to Africa, and will underscore the importance of U.S.-Africa relations and increased cooperation on shared global priorities. The U.S.-Africa Leaders Summit will build on our shared values to better foster new economic engagement; reinforce the U.S.-Africa commitment to democracy and human rights; mitigate the impact of COVID-19 and of future pandemics; work collaboratively to strengthen regional and global health; promote food security; advance peace and security; respond to the climate crisis; and amplify diaspora ties. I look forward to working with African governments, civil society, diaspora communities across the United States, and the private sector to continue strengthening our shared vision for the future of U.S.-Africa relations.

Tewolde GebreMariam received the Airlines Business Award at this year’s Airline Strategy Awards

Tewolde GebreMariam received the Airlines Business Award at this year’s Airline Strategy Awards Former Ethiopian Airlines chief executive Tewolde GebreMariam received the Airlines Business Award at this year’s Airline Strategy Awards on Sunday. Organized by FlightGlobal, the awards – which have been held since 2002 – recognize individuals, airlines, and companies supporting air transport that have demonstrated dynamic leadership and clear vision. This year, Tewolde was among senior aviation industry leaders recognized in a ceremony held on Sunday. Tewolde received the prestigious Airline Business Award to recognize his achievements over an 11-year spell at the helm of Ethiopian Airlines, during which he showed skill across a range of disciplines, from crisis management to long-term strategic planning. Between Tewolde taking charge in 2011 and 2019, Ethiopian quadrupled in size, growing from a fleet of 33 aircraft carrying three million passengers to a fleet of 130 aircraft carrying 13 million passengers, as it became a gateway to the African continent. When he stepped down earlier this year, Tewolde handed over an airline that is a rare case study in making a success of operations on the African continent. “He has shown true leadership in a region where success is hard to come by at the best of times. Under his watch, Ethiopian was not just the envy of other African carriers – it had admirers from all around the world,” said Airline Business editor Lewis Harper. Tewelde was replaced by Mesfin Tasew as the CEO of Ethiopian Airlines in March 2022. Apart from the former Ethiopian CEO, Turkish Airlines chief executive Bilal Eksi also received the 2021 Executive Leadership Award in recognition of the Istanbul-based flag carrier’s standout performance over the past two years, as it demonstrated both resilience and strategic nous. The other individual winners at the Airline Strategy Awards were Korean Air chief executive Walter Cho, Sun Country Airlines chief executive Jude Bricker, and Allegiant Air’s Maurice Gallagher and John Redmond Tags ethiopia business news ethiopian airlines tewolde geberemariam

Ahadu Bank officially started working

Ahadu Bank officially started working Ahadu Bank was founded in 2021 by 17 organizing committee members and brought together more than 10,000 shareholders with a paid-in capital of 564 million and a signed capital of 702 million. Today, July 16, 2022, in the presence of senior government officials, the bank’s shareholders and invited guests, at the bank’s headquarters. Home (Flamingo Front Sunshine Building) officially the work it has started its work. The guest of honor and governor of the National Bank of Ethiopia, Mr. Ynager Dese Ahadu, who attended the official launch program of the bank and spoke, said that the Bank’s new ideas in technology make it a bank that keeps up with the times. He said that the support of the National Bank to make the bank accessible to Ethiopians in rural areas is essential. Ahadu Bank aims to become a leader in the financial sector in Ethiopia in 2025 with the aim of ensuring prosperity for the people and the country. Ahadu Bank today opened branches in Ledata Geja neighborhood and African Union area, apart from its head office in Flamingo, and it is known that the number of branches will reach 50 by the end of September. The chairman of the board of Ahadoo Bank, Mr. Anteneh Sebsbe, announced that he plans to achieve the minimum starting capital of 5 billion birr set by the National Bank within three years. Tags ahadoo bank Ahadu Bank

Ride vs Feres who’s becoming a winner

Ride vs Feres who’s becoming a winner By- Yinebeb Bahru It has been a one-month since I left Addis Ababa after I get a better job. When I was in Addis, in the time of emergency and at midnight, I and my close friends always give call to either Ride or Feres taxi-hailing platforms. Both RIDE and Feres were the biggest taxi-hailing/ booking platforms in Ethiopia. Currently, both platforms operate mainly in Ethiopia’s capital Addis Ababa. The ride is the leading taxi-hailing platform in Ethiopia with over 42,000 drivers since 2016. However, in recent years over 20 competitor companies joined the taxi-hailing market, among them Feres is the major competitor for Ride, it’s difficult to get detailed statistics about market share respectively. However, before I prepare this article I ask detail information from taxi drivers and passengers in Addis, who use both Feres and Ride, the major taxi-hailing service providers in Ethiopia. Surprisingly all of them preferred Feres over Ride, In this article, I will try to address key factors that shrink Ride’s market share by its major competitor Feres, and also I give some recommendations on the digital transformation perspective: Street pick up Feres have a street pickup feature for its Android and iOS applications, a street picks up feature offers a chance for customers to book randomly without giving a direct call to the contact center, which means passengers ask random taxi-looking, “taxu can you pick me?” Instead of requesting a through the app or giving a call. In Ride, you should call 8294 or use the RIDE Passenger App to begin the strip, laterally Ride developers understand this limitation and they add street pickup features a few weeks for both Android and iOS users, a feature isn’t good in terms of security, however, both passengers and taxi drivers hate this requesting a through the app or give a call for contact center, That’s why the majority of drivers and passengers prefer Feres than Ride. Price Ride charges 12% commission from drivers however Feres charges only 8% commission, pay to the company. Also, Feres charges 10 ETB per kilometre but Ride charges 12 ETB, plus to that Just like Ethiopian airplanes Sheba miles, Feres will give a gift known as a mile for both passengers and taxi drivers to load money in the E-Birr app depending on the distance they travel, passengers can use this mile for future travel. Unfortunately, this feature isn’t available in Ride. (Note: $1 is approximately 53.0 Ethiopian birr.) Short distance When customers are asking Feres drivers. This approach gives drivers to easily find another passenger who made a request and is also less time-consuming for passengers and also minimizes waiting time Price. Fast Call center response If you give a call to Feres call center they pick up immediately, when you came to Ride it’s another story, you should wait until the robot finish talking and you press some number based on the robot’s instruction of your choice. In General Drivers are the main beneficiaries of the taxi-hailing platform competition in Addis. This is because drivers can register their car from different taxi-hailing platforms, at the same time and they open different applications at the same time and when they get a request from either one of them, they will choose what they want. Last but not least I highly recommend all taxi-hailing platforms consider digital-first culture for their business, it helps to expand their customer, and also it helps a business gain more customers. Digital-first culture allows those companies to reach an international market. The changes should focus on enhancing the customer experience. Companies need to start by evaluating the needs and wants of their customers. Once identification is required, businesses must ensure that the new technologies meet the specific customer needs. The new customer experience should be positive and consistent.

Gebeya & Google Partnership Set to Birth Africa’s New Wave of Machine Learning Developers

Gebeya & Google Partnership Set to Birth Africa’s New Wave of Machine Learning Developers In its ongoing efforts to bridge the gap between African talent, startups and SMEs, and the tech industry, Gebeya recently partnered with Google to launch the Google Developers Machine Learning Bootcamp in Sub-Saharan Africa. The intermediate training and hiring program targets residents in Sub-Saharan Africa, in a partnership between the Pan-African talent marketplace headquartered in Ethiopia and multinational tech giant, Google. The three-month accelerated program will run from July to October 2022. The bootcamp is designed to develop machine learning engineers utilizing industry-leading resources. The Google Developers Machine Learning Bootcamp is divided into four components and leverages Gebeya’s network of talents and partners: Machine Learning Training: Participants will complete a self-paced machine learning theory course Coursera. The specialization course will take a deep dive into the fundamentals of deep learning. Machine Learning Certification: After successful completion of the ML course, participants can then obtain industry-recognized certification in the field. Machine Learning Practice: Putting theory into practice to solve real-world problems, this stage gives participants the opportunity to demonstrate their deep learning and machine learning skills. Gebeya’s Machine Learning Network: Participants will gain insight from industry experts and decision-makers, fostering relationships that will aid in post-program employment. With machine learning developer roles being in high demand in Africa and across the world, Gebeya and Google’s partnership is appropriately-timed and spotlights the continent’s continuous advancements. “The Google Developers Machine Learning Bootcamp supported by Gebeya aids in closing the developer gap within today’s machine learning landscape and strengthening Africa’s tech ecosystem,” says Amadou Daffe, CEO & Co-founder of Gebeya. “In Gebeya’s history, partnerships like the one with Google have enabled critical upskilling opportunities to build the talent pipeline on the continent.” Similar to Gebeya’s marketplace talent identification process, applicants to the Google Developers Machine Learning Bootcamp will undergo pre-screening to determine program eligibility. For companies seeking to hire ML developers, this initiative is a gateway to accessing qualified professionals and promoting cross-training with existing engineers. And for Gebeya, the program serves as another pipeline to building Africa’s ecosystem. Applications are now open for SSA Google Developers Machine Learning Bootcamp. All program details are available here. Tags gebeya Google Machine Learning

Addis Ababa City Administration handed over 25,491 condominium houses

Addis Ababa City Administration handed over 25,491 condominium houses Addis Ababa City Administration handed over 25,491 condominium houses The 14th round of 40/60 and 20/80 condominium lottery was held in Addis Ababa.Addis Ababa City Mayor Adanech Abebe, who was present at the event, said, “Your qualification for this day is a great hope for those who look forward to it,” she said. Although there is a mismatch between demand and supply, she said, recognizing that housing is a major problem in the city, solutions are being developed using various options. She said the center is working to address the needs of the people. She also said that in addition to the condominium houses that have been built and are currently under construction, other new financing options have been explored. She noted that the city administration has set up a technology system that will draw lots: ÷ All these efforts are aimed at making the lottery public and free from discrimination. She also thanked the lucky ones who worked hard, helped and persevered to cope with the complexities of the past. Out of the houses that the city administration has been constructing in the past years, 18,648 houses and 6,843 condominium units in the 40/60 third round have been drawn. Addis Ababa Housing Development Bureau Head, Yasmin Wahabirebi, on her part said the city administration has built and handed over more than 300,000 houses in the past years. Regarding a three-bedroom house, she recalled that the Housing Board closed the program by lowering the price to 1,500 in the last round. According to the Director General, only 97 registrants will be included in the 20/80 program. Tags 20/80 Condominium Condominium 40/60

Safaricom Ethiopia will launch its pilot service in Dire Dawa

Safaricom Ethiopia will launch its pilot service in Dire Dawa Safaricom Ethiopia has announced that it will launch its pilot service in Dire Dawa next month. Safaricom said in a statement today that it will launch a range of network services in July, including SIM card sales, and will provide services to more than 24 cities by April 2023. He said the institute has been focusing on the construction of various infrastructures, including towers, national distribution networks, since its acquisition. It is said that it is currently conducting technological tests to provide quality service. According to the statement, the company has invested more than $ 300 million in network services. Safaricom, Ethiopia’s first private telecom company, is expanding its services and is ready to provide quality services to telecom companies. Tags Safaricom