The national payment processing system EthSwitch has welcomed Kacha Digital Financial Services—Ethiopia’s first ever private mobile money service provider. Ensuant to financial sector reform and subsequent directives, the road has been paved for payment instrument issuers like Kacha, for which the National Bank of Ethiopia has granted the first such license. Kacha has thus bought shares in EthSwitch.

Kacha is undertaking final preparations and is piloting its platform before its commercial launch which will avail its cashless transaction services through 30,000 agents by virtue of the partnership formed with banks, microfinance institutions, and saving and cooperative organizations that are all part of EthSwitch.

Elauto Engineering and Trading has inaugurated an ETB600 million factory inside the nation’s first free trade zone with the capacity to assemble up to 12,000 cars annually.

Jointly inaugurated by Bekele Abebe, General Manager of Elauto, and Tokicha Alemayehu, Founder and President of Elnet Business Group, the parent company of Elauto, as well as Kedir Juhar, Dire Dawa city mayor and Sandokan Debebe, Industrial Parks Development Corporation CEO, the factory will assemble four car models, both four-seater and seven-seater types.

While 80 employees are currently employed, the factory has plans to hire up to 300. There are also plans to grow from assembly to fully manufacturing vehicles in Ethiopia.

Elauto has opened a branch in neighboring Kenya where it is undertaking engine assembly.

Looking to bring unbanked sections of the Ethiopian population into the formal financial sector and enable low-cost credit and savings service, Ethio Telecom has partnered with Dashen Bank to launch telebirr digital financial services. Micro loan, overdraft and micro saving are services to be offered in partnership with the 25-year-old bank as per a permit given by the National Bank of Ethiopia.

Accordingly, Ethio Telecom offers three different financial services, namely telebirr Mela (micro credit), enabling customers to borrow money for any transaction or withdrawal, telebirr Endekise (credit pay/ overdraft service), permitting users to borrow up to ETB2,000 in an emergency transaction, and telebirr Sanduq (micro savings service). The services are accessible on the telebirr app as well as by dialing *127#.

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Ethio Telecom Dashen

Photo Credit: Samuel Habtab

Nissan Navara PRO-4X pickup vehicle’s latest edition was presented to the public by Nyala Motors—the 50-year-old local representative of Nissan Motors. According to Mesfin Bogale, General Manager of the company, the “Nissan Navara PRO-4X” is a luxury vehicle that is both comfortable and having better safety features than other vehicles made by Nissan, while adding that it is also dependable, fuel-efficient, modern, and appropriate for the country.

In collecting ETB61.3 billion in revenue, Ethio Telecom credited its network and system expansion andoptimization works. In all, 67 new and 77 revamped local and international products and services were offered to the parastatal’s customers. The budget year of 01 July 2021 to 30 June 2022 saw the commencement of the three-year BRIDGE growth strategy. This strategy and new offerings are preparations for the upcoming competitive market.

Dubai is working to make itself the main center of the world economy, as well as an investment hub and tourism destination. Towards this, Stella Fubara, Director of International Operations with the Dubai Department of Tourism & Commerce Marketing (DTCM), is in Ethiopia. Stella arrived with Tonye Princewill, CEO of RivExcel, an international management company with a strong presence in Africa, UK, UAE, the Caribbean. RivExcel is assigned to undertake works on the African continent with regards to DTCM, or Dubai Tourism.