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

Amhara Bank to start operation on July 7 with 70 branches

Amhara Bank to start operation on July 7 with 70 branches Melaku Fanta, Chairman of the Board of the Amhara Bank, A total of 70 complete branches will be provided by the bank on the day of its inauguration. He said the bank would expand its branches to more than 100 by July 7. According to Melaku Amhara bank is a public bank, adding that shares have been sold in all parts of Ethiopia in accordance with the National Bank of Ethiopia (NBE) regulations so far. The chairman also mentioned that they have appointed the chief executive and deputy executives of February 9, 2022. The bank’s chief executive, Henok Kebede, on his part said 70 branches will be operational by July 7, with the opening opening on June 11. He said work has been done to provide inputs for labor and materials. Amhara Bank, which started its motto “Beyond the Bank”, has announced that it will fulfill its social responsibility. The Bank will also have panel discussions, blood donations and other programs by June 18. The Bank has announced that it will cover the cost of the bus service from 6:00 am to 9:00 pm on June 11, when the bank will start its social services. He also announced that users can also benefit from the day without charge.The bank has started operating with a capital of over six billion birr and has so far spent more than 4 billion birr. Tags amhara bank ethiopia business news ethiopian news ethiopian news daily ethiopian news today

Why Telegram is so popular in Ethiopia?

Why Telegram is so popular in Ethiopia? By- Yinebeb Bahru Why Telegram is so popular in Ethiopia. According to Google Play Store each country’s download record, Telegram is a more highly downloaded app than the Facebook messenger, WhatsApp, IMO and other messenger apps in Ethiopia, Telegram is one of the preferred social media platforms in Ethiopia, it was more popular than any other such platform. Telegram has more than 200 million users worldwide and about 1 billion WhatsApp users. So, what’s the cause with Telegram’s popularity in Ethiopia? It is not immediately clear why messaging services have become such a popular option for WhatsApp or Messenger, but there are a few reasons: 1/ Ease of use; The internet connectivity of Ethiopia is very low, the internet coverage in Ethiopia is only 20%, with only 15% of its population of over 120 million. Although more than 55 million people have mobile connections, only 6.5 million are active social media users in 2022, plus to that there’s only one state-affiliated telecom service provider Ethio-Telecom, the government’s monopoly over all mobile and internet services through the state-owned Ethio Telecom. In this regard, the economics of downloading and using Telegram is 49 MB with WhatsApp 103 MB or Messenger 125 MB is one of the amazing features of Telegram, that’s why Telegram is attractive in Ethiopia. 2/ Video call and video conference features In Sep 2020, Telegram added a video call feature, which was one of the most significant upgrades. Before, the app only supported voice calls, although its major competitor WhatsApp launched video calls a long time ago. In April 2021 Telegram is launching a video conferencing feature, it allows up to 1000 participants at once a time and records HD messages, Telegram already supports one-on-one video calls as well as group voice chats. And now Telegram video conferencing feature on top of their Voice Chats as yet another Zoom competitor. 3/ Secure connection Ethiopia severely restricts internet service and routinely closes social media. Recent studies have also shown that officials use commercial spyware to attack anti-government activities abroad. In such a secretive political environment, Telegram provides end-to-end encryption as well as a timer that can remove messages without a trace. There is also the option of scanning your secret chats using an image that serves as an encryption key. The app’s programming interface allows developers to create a free one-size-fits-all interface for applications such as WhatsApp. Telegram, which currently supports 19 languages, is expanding the number of languages developers can build in its applications. It also supports foreign-language packages that help you translate content and messages. 4/ A tool for political activism Personal data protection may not be the main reason for Ethiopian social media users. The messaging service has been hacked in the past, with hackers identifying the phone numbers of 15 million Iranians, many of whom share false information on the platform. The company’s commitment to freedom of speech, writing and expression has been questioned by the Iranian government following its removal. Another factor many Ethiopians may be attracted to is Telegram because of its unique features. The most important of these is the ability to form a large group of up to 100,000 members, thus facilitating political activity. WhatsApp, on the other hand, allows group chats and broadcasts of up to 256 people only. 5/ Marketing platform The digital finance service delivery system is still in its infancy stage in Ethiopia and the country still has a long way to go in building its e-commerce system. However, Telegram has provided a cost-effective way for retailers and entrepreneurs to promote products, and services and provide up-to-date and consistent information to their customers. Users can pay for goods and services. In general, so many Ethiopians believe that Telegram is easy to store and share large files such as videos, images, documents, attachments and audio-books with low internet connection. Tags tech news telegram ethiopia

Forty-four-storey skyscrapers are to be built in the Kazanchis area of ​​Addis Ababa

Forty-four-storey skyscrapers are to be built in the Kazanchis area of ​​Addis Ababa Forty-four-storey skyscrapers are to be built in the Kazanchis area of ​​Addis Ababa. According to The Reporter, Tewodros Yeshiwas, the owner of Quara Manufacturing, which is engaged in a number of projects, including Gomju Oil, is constructing the buildings. The 7,743-square-meter building will have forty-four floors and the other thirty floors. In particular, the forty-four-storey building will be two hundred and nineteen meters taller and taller than the Commercial Bank of Ethiopia’s headquarters building. According to the plan, the forty-four-story building will be fully commercial and office, while the thirty-four-storey apartment will have three- and four-bedroom apartments. Quara Manufacturing has signed a 13 billion birr agreement with China Civil Engineering Construction Company (CCCC) for the construction of these buildings. The project consultant was selected to be the management of Yizka Construction, owned by Professor Woubshet. The company is currently consulting with the Bank of Abyssinia and the Bank of Amhara for the construction of its headquarters. Construction is expected to be completed within six years.

Federal Housing Corporation inaugurates Gerji Village Construction Project

Federal Housing Corporation inaugurates Gerji Village Construction Project Federal Housing Corporation inaugurates Gerji Village Construction Project Aluminum formwork technology is used in the project; It is also pointed out that Ethiopian professionals have adapted the technology and completed the construction quickly. It is also known that the technology improves the quality and speed of construction. Using the technology, the corporation is said to have completed the construction of 16 ten-story buildings in Gerji village in 18 months. The village is equipped with modern security system and can accommodate more than 800 parking lots, a common hall, various sports facilities, cafes and restaurants, parks, amphitheater, children’s playground and swimming pool. Gerji settlement village also introduces modern construction technology; Featured competent government project leaders: It is said that it shows that employers, construction consultants and contractors can work together for the same purpose and achieve great things. According to ENA, the construction project has taught how to solve urban housing shortage using modern construction technologies. Some points about official housing The modern residential village is built on 3 hectares and has 16 blocks of modern apartments with 510 houses. The construction technology of the houses is known as Aluminum Formwork and it differs from conventional building construction in that it follows a method that reduces waste in terms of quality and speed. It is said that it took only 1 year and 6 months to complete the houses. The houses are Sky Villa duplex and apartments ranging from 150 square meters to 500 square meters. The village is equipped with modern security system, parking for more than 800 vehicles, common hall, gymnasium, cafe and restaurant, green space and park, amphitheater. It is also a modern village equipped with modern garbage disposal, sports field, playground and swimming pool and other amenities. Tags Federal Housing Gerji Apartment

5.6 billion birr steel factory inaugurated in Dukem

5.6 billion birr steel factory inaugurated in Dukem The 450,000-square-meter steel melt factory in Dukem town of Oromia State was inaugurated today. The inauguration ceremony was attended by Oromia Regional State Head of State Shimeles Abdissa, Minister of Mines Engineer Takele Uma, religious leaders and other senior officials. The factory was built at a cost of 5.6 billion birr.When fully operational, the factory will create jobs for 700 citizens and is expected to play a key role in curbing foreign exchange. The factory, built by Ethiopian investor Kibru Isfa at a cost of 5.6 billion birr, collects all the fallen metals and uses them as raw materials. Tags dukem steel factory kibru isfa