News

Ethiopia's Gig Economy Takes Center Stage at Africa Celebrates 2024 Event

During a panel discussion at the event, it was stated that regulatory sandboxes should be designed to help gig platforms thrive.

Wegagen Bank Resurges to Historic Profits

In July 2024, Wegagen launched a digital lending platform, Efoyta, in collaboration with Kifiya to support MSMEs with loans ranging from 5,000 to 50,000 birr.

EthSwitch Sees P2P Transactions Overtake ATMs in Value

Although ATM transactions maintained a higher volume at 94.5 million, their total value reached 123.2 billion birr, trailing behind P2P transfers.

This Platform Tackles Labor Force Gender Divide with Female Only Job Recruitment

A recent report by the UN indicates that the unadjusted or raw gender pay gap in Ethiopia is 30.3% when considered at the hourly level and 35.1% when considered at the monthly level.

Ministry of Finance Pulls Back Franco Valuta Permits

According to the Ministry, Ethiopia’s banks are currently capable of mobilizing adequate foreign exchange to facilitate imports through the formal banking system.

Ethiopia Mandates Standard QR Code for Digital Payments

Merchants will only need to display one QR code to accept payments from any participating bank or financial provider.

Hong Kong-Based West Data Group Breaks Ground on 20MW Bitcoin Mining Facility in Ethiopia

Ethiopian Electric Power recently revealed earnings of nearly $55 million from electricity sales to data miners in less than a year.

Learning Loop Expands Reach with Innovation Ministry Partnership

Learning Loop's GlobeDock YouTube channel is one of the prominent players in Ethiopia's edtech space, gaining traction with over 450 educational videos tailored for elementary and secondary students.