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Cultivating Authentic Generosity in the Digital Age

In today’s digital age, acts of charity and giving to the less fortunate have become increasingly intertwined with social media and online platforms. While sharing such acts can raise awareness and inspire others to contribute, reflecting on the potential consequences for the recipients involved is essential. EBR’s Eden Teshome explores the social impact of giving to the less fortunate and the ethical considerations surrounding the exposure and filming of needy individuals.


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Coopbank Bank of Oromia, a provider of digital financial solutions, has entered into a strategic partnership with Visa, a global digital payment solutions, with the aim of transforming the digital payment landscape in Ethiopia. This collaboration is said will introduce Visa-branded cards for multiple products, offering tailored solutions to meet the diverse needs of Coopbank’s customer base. Additionally, the partnership will lend support to the Ethiopian government’s National ID Project, a pioneering initiative that seeks to integrate digital identification systems with payments.


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Hibret Bank, a private bank in Ethiopia, has announced its strategic investment in the Ethiopian Securities Exchange (ESX). The bank’s equity investment of ETB50 million represents a 5 % ownership share in the paid capital of ESX. This move aligns with Hibret Bank’s goal of actively participating in Ethiopia’s emerging capital market ecosystem.

The investment from Hibret Bank, along with the initial investment from Ethiopian Investment Holdings (EIH), is said will support the final preparations for the launch of ESX later this year. Other investors are also expected to join as shareholders in the coming months.


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Ethiopia’s booming real estate sector, boasting a remarkable 14Pct average annual growth over the past decade, faces a potential turning point. The recent implementation of a 14Pct credit cap by the National Bank of Ethiopia (NBE) has significantly impacted bank lending capacity, sending ripples through the industry. This article delves into the specific consequences of this policy, exploring its effects on key players and overall market dynamics, particularly in Addis Ababa.

Indeed, Real estate developers and individual sellers across Addis Ababa are grappling with a new reality. Despite price adjustments aimed at aligning with reduced buyer purchasing power, a noticeable struggle to attract buyers has emerged, while some developers are innovatively taking swift strategic moves to solve the looming financial gap in the sector. This shift can be attributed to the credit cap’s influence on loan availability, effectively limiting access to financing for potential buyers. EBR’s Eden Teshome sheds light on the multifaceted impact of the credit cap in the Real Estate sector.


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As long as women achievements are concerned within the African continent, this year’s Women History Month was a humbling year.

The reality remains most African women still lag behind in all sector of society, especially in areas of economic advancement where the World Bank estimates, a majority of African women, to the tune of more than 70 Pct remain excluded by financial institutions. This is something African nations are trying to address but the status quo remains.


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The Ethiopian Capital Market Authority (ECMA) has signed two Memoranda of Understanding (MoUs). These agreements aim to enhance market integrity, promote transparency, and bolster technological capabilities for enhanced market surveillance. By doing so, the ECMA seeks to safeguard investors and foster confidence in the Ethiopian capital market.

The first MoU, titled ‘Capital Market Integrity Task Force Cooperation and Coordination Agreement No 01/2024,’ was signed by the ECMA, Ministry of Justice, Financial Intelligence Services, Ministry of Trade and Regional Integration, and the Federal Police Commission. This agreement establishes the “Capital Market Integrity Task Force,” which will collaborate to maintain the integrity of the capital market.


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In a significant stride towards combating malnutrition and improving public health, the Ethiopian government has recently endorsed the mandatory fortification of essential food items, such as edible oil, wheat flour, and potassium iodide. This decision aims to prevent the high burden of neural tube defects (NTDs) and address widespread micronutrient deficiencies in the country. By fortifying these staple foods, Ethiopia is taking a proactive approach to improve the overall well-being of its population and pave the way for a healthier future, writes EBR’s Eden Teshome


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Born and raised in the vibrant neighbourhoods of Addis Ketema and Kolfe in Addis Ababa, Zerubabbel Mola emerged as a spirited child with an independent streak. He despised being told what to do and marched to the beat of his drum. This rebellious nature ultimately led him down the path of becoming a musician. Zerubabbel’s musical journey began as he was captivated by the rich tapestry of sounds surrounding him and honed his vocal skills by joining a choir. However, his life took a significant turn when his father departed for the United States. Deeply missing his father and grappling with melancholy, Zerubabbel stumbled upon a guitar tucked away beneath his father’s bed.

Despite lacking formal training, he instinctively began strumming the strings and discovered a familiar melody—the song “Zekiyos Achir Sew Neber,” meaning Zekiyos was a short guy in Amharic, a song he used to play as a child. In that moment, the guitar became his solace and connection to his father, igniting an unwavering love for playing the instrument. After gaining experience and refining his skills, Zerubabbel embarked on a musical journey that would define his career. He spent five transformative years working alongside the talented Mehari Brothers, immersing himself in their creative energy. Building upon this foundation, he joined forces with the renowned Zemen Band, where he spent two exhilarating years.

Seeking new horizons, Zerubabbel set his sights on South Africa, where he joined yet another band. After these events, his musical talent blossomed to a new height, propelling him toward an unstoppable trajectory. His artistic growth culminated in a highly acclaimed album called “Enfalot,” which featured fifteen sensational songs that resonated deeply with audiences far and wide. He is also the owner of six singles that are loved by many. Zerubabbel’s story is one of passion, resilience, and an unwavering commitment to his craft. From his rebellious childhood to his heartfelt connection with music, he has emerged as a charismatic and beloved singer, captivating audiences with his powerful voice and magnetic stage presence. With each new chapter, Zerubabbel continues to enchant listeners, leaving an indelible mark on the music scene and solidifying his status as a true musical force to reckon with. EBR’s Eden Teshome had the chance to discuss with the singer for this exclusive.


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Mastercard, a renowned global technology leader in the payments industry, has partnered with EagleLion System Technology, a local financial solution provider. This strategic alliance intends to revolutionize access to innovative cashless payment solutions and empower Ethiopian businesses to seamlessly accept secure digital payments.

 

Ethiopia, like many nations, is currently undergoing a digital revolution, and the partnership between Mastercard and EagleLion is set to play a pivotal role in this transformative journey.


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Dshen Bank’s newly elected Board of Directors has chosen to re-elect Dula Mekonnen as its Chairman. The decision was made during the 30th ordinary meeting of the bank’s shareholders, and Dula’s re-election took place during the Board’s inaugural meeting held on February 13, 2024.

 

Dula Mekonnen currently holds the position of Deputy Chief Executive Officer in the Mining sector of Midroc Investment Group. Having qualifications of BSc Degree in Electrical Engineering and an MSc Degree in Business Administration from Adama Science and Technology University. Additionally, he holds a Diploma in Agricultural Engineering.




Ethiopian Business Review | EBR is a first-class and high-quality monthly business magazine offering enlightenment to readers and a platform for partners.



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