ITSS becomes Temenos’ exclusive implementation partner for digital banking solutions in Ethiopia, further reinforced by its official corporate office launch, solidifying its commitment to growth in the Ethiopian market.
Background
Ethiopian Business Review (EBR) is an English business magazine published by Champion Communications. EBR’s mission is to deliver research-based content that promotes private-sector development in Ethiopia. EBR has one goal, to be the source of top-notch ideas for people creating, leading, and transforming the Ethiopian Private Sector. It publishes research-based articles with a view of becoming the nation’s premier magazine, publishing cutting-edge, authoritative thinking on the key issues facing the private sector in Ethiopia.
Thanks to big corporations and financial companies, Addis is becoming a city with many buildings compared to East African cities. With its challenges, many local contractors have built magnificent buildings in the past two decades in the capital and the rest of the country. Most structures built by local contractors need more quality and basic infrastructures and have similar designs. Frustrated, many builders are now turning their backs on local contractors while strengthening their ties with foreign ones, particularly those from China. Chinese contractors run the country’s significant buildings, roads and dam projects. This article is an updated version of earlier content published on EBR, 8th Year • Dec.16 – Jan.15 2020 • No. 81.
A debt-to-GDP ratio is an economic term that contrasts a country’s public debt with its gross domestic product (GDP), which measures the total worth of all the goods and services it produces. The debt-to-GDP ratio, which is stated as a percentage and provides a quick estimation of a country’s capacity to repay its current debts, is frequently used to assess the stability and health of a country’s economy. It is commonly estimated along with metrics like GDP per capita, GDP growth, GNP, and GNI per capita, which relates to one another.
There is a saying that states that everyone is impacted by gender disparity, which is accurate. Any community forbidding women from working merely ensures that it will always be impoverished. In many societies around the globe, women outnumber men. Denying women the chance to work means simply that they will be unable to contribute to creating wealth. Instead, they would be totally reliant on the men, turning into liabilities rather than the contributing members of society they should be.
The United Arab Emirates was recognized as the top nation for entrepreneurs, followed by Saudi Arabia and Taiwan, according to the yearly Global Entrepreneurship Monitor (GEM) research, which was conducted by Aston Business School.
The Center for the Advancement of Rights and Democracy (CARD) reported that the Ethiopian government’s restrictions on internet access have caused significant economic damage to the country. According to the center, the government’s illegal actions have resulted in economic losses exceeding USD 140 million over a period of five months.
Zamzam Bank has been given property in Lideta sub-city (Senga tera area) to construct its headquarters building, disclosed during an event held today at the Sheraton Addis Hotel.
With the goal to provide the EyePay® Network in Ethiopia, IrisGuard established a strategic partnership with the local financial services partner Arifpay. The usage of IrisGuard’s digital payment infrastructure, which only authenticates and processes payments using a person’s iris, is said that it guarantees complete transparency that social support reaches the intended recipients.
The EyePay® Network, which offers proof-of-life for compliance with Know Your Customer (KYC), Anti-Money Laundering (AML), and Counter-Terrorism Financing (CTF) regulations, is indicated that it is one of the most secure and accountable payment platforms currently available. A real-time tracking program reportedly eliminates the possibility of fraud, double-dipping, and duplicate payment by continuously monitoring funds throughout the process.
Imad Malhas, Founder & Managing Director of IrisGuard commented, “We are proud to be part of such a remarkable milestone in Ethiopia with our partners at Arifpay. Ethiopia’s innovative landscape is the perfect stage for our EyePay® Network services and the kind of transparency and accountability levels it brings in the international humanitarian assistance arena. As part of our global expansion plans, we look forward to working with local partners, who share our passion for innovation and for expanding financial inclusion, in new regions across the world.”
By the beginning of March 2023, the State of Oromia had officially launched the operations of a new city- named Sheger. Having its main office in Addis Ababa, Sheger City brings together 12 sub-cities, districts, and 40 rural kebeles. Sebeta, Burayu, Legatafo, Lededadi, Sululta, and Gelan towns surrounding Addis Ababa from all directions are now parts of the newly formed city.
