Nib International Bank has officially launched its new mobile super app, “Nib Tera Online”, as part of its ongoing digital transformation agenda. The platform, 95% developed in-house, went live July 12, offering customers a more streamlined and user-friendly banking experience.

The launch of Nib Tera Online is a key component of the Bank’s newly unveiled three-year strategic plan and five-year transformation roadmap, which emphasize service innovation and customer-focused digital expansion.

During the official launch event, CEO Henok Kebede highlighted the Bank’s commitment to modernizing its service delivery. “Nib International Bank is deeply invested in understanding and addressing customer needs. Through this application and our broader strategy, we aim to deliver efficient, tech-driven financial services,” he stated.

The Nib Tera Online app enables customers to easily manage transactions, make payments, and access various banking services directly from their mobile phones. It also includes robust security features and has been internally developed by the bank’s in-house IT team.
In addition to retail banking features, the application supports improved financial management for businesses. It facilitates smoother interbank transfers, budget control, and a range of operational banking tasks. The bank noted that more digital services will be integrated into the platform in future updates, with the goal of enhancing efficiency and delivering measurable results.

As part of its transformation agenda, Nib International Bank plans to continue leveraging emerging technologies to improve customer experience and drive institutional growth.

Africa is emerging as a powerhouse in the global coffee trade reaching to 33.3% in May, with Uganda and Ethiopia leading a remarkable surge in exports that is reshaping the continent’s role in the world market.

According to the latest International Coffee Organization (ICO) report, global coffee exports rose 4.9% from May 2024 to 12.65 million bags, boosted largely by African producers. Uganda’s exports jumped 43.3% to nearly 800,000 bags, while Ethiopia’s rose 42% to about 980,000 bags. Together, the two countries accounted for more than 75% of Africa’s coffee shipments last month. 

Uganda surpassed Ethiopia as Africa’s top coffee exporter in May, shipping 47,606 metric tons compared to Ethiopia’s 43,481 tons. The surge earned Uganda USD243.9 million for the month, contributing to an annual export revenue of USD2.09 billion. However, the report noted that Ethiopia’s coffee production is currently in an “on” year of its two-year cycle, leading to an estimated increase of 500,000 bags.

Global coffee exports for the year to date fell to 91.29 million bags, a decrease from 93.44 million.

Three of the four major coffee-exporting regions posted growth in May, with Asia and Oceania leading the surge. The region exported 4.11 million bags, up 48.9% from 2.76 million a year earlier.

The ICO report also noted a 46.8% increase in roasted coffee exports in May, highlighting growing value addition within the sector.

The Addis Ababa City Administration said it has completed 15,960 development projects across the capital in the current Ethiopian fiscal year.

Mayor Adanech Abiebie reported this during the annual performance review at the 4th regular session of the City Council. She said a total of 5,563 retail shops and 1,064 workshop sheds have been built in major commercial areas including Kazanchis, Bole, Lideta, Lafto and Arat Kilo, in partnership with public and private actors.

The mayor also noted that 8,786 homes were built or renovated by volunteers, while another 5,176 were constructed through municipal funding.

Addressing the city’s transportation needs, the report revealed the completion of 153 parking facilities and terminals, as well as significant road infrastructure improvements. Over 1,392 kilometers of asphalt, cobblestone, gravel roads, and sidewalks were constructed or maintained to ease congestion and improve connectivity.

The Mayor emphasized that 9,000 of the completed projects were achieved through community participation and volunteerism, underscoring a model of collaborative development that could inspire similar efforts nationwide. Of the total projects, 16 were categorized as mega projects, reflecting substantial investment in strategic infrastructure.

Source: Ethiopian News Agency (ENA)

The African Union has called on member states to accelerate the ratification and implementation of key legal frameworks necessary to operationalize the African Continental Free Trade Area (AfCFTA) as its 47th Ordinary Session of the Executive Council opened yesterday in Malabo.

The meeting, held under the theme “Justice for Africans and People of African Descent Through Reparations,”  brings together foreign ministers and senior officials to deliberate on critical priorities, including the Union’s 2026 budget.

In his opening remarks, newly elected AU Commission Chairperson Mahamoud Ali Yusuf acknowledged progress in mobilizing domestic resources but warned that the Union continues to face serious financial constraints.

He pointed out that the landmark 2016 Kigali decision which introduced a 0.2% levy on selected imports to fund the AU has yet to be fully implemented. To date, only 17 member states have adopted the measure.

Ethiopia has recently finalized its National AfCFTA Implementation Strategy, which outlines the country’s roadmap for integrating into the continent-wide free trade pact. Currently, 36 African countries and three regional economic communities (RECs) have developed and launched their National AfCFTA Implementation Strategies.

African countries are advancing on several fronts to reduce dependence on aid and external markets. Sources reveal that nearly half of African countries have restricted exports of raw critical minerals, pushing instead toward domestic processing.

The Chairperson also highlighted the persistent challenges undermining Africa’s development agenda, including political instability, humanitarian crises, and security threats in Sudan, the Democratic Republic of the Congo, Somalia, and the Sahel region. He noted that funding shortfalls continue to hamper the African Union Support and Stabilization Mission (AUSOM), which plays a vital role in peacekeeping efforts.

Nevertheless, Yusuf pointed to recent positive developments, such as the agreement between the Democratic Republic of the Congo and Rwanda, Gabon’s return to constitutional order, and Guinea’s transitional plan, as encouraging signs of progress.

Looking ahead, the Chairperson called on member states to strengthen collaboration with regional economic communities, the Peace and Security Council, and the UN Security Council to consolidate peace and economic integration.

The Executive Council session will continue until July 13, 2025. Additionally, on July 14, the AU will convene its 7th Mid-Year Coordination Meeting with key stakeholders to further align continental priorities and strategies.

Source: Ethiopian News Agency (ENA)