News

Regulatory Hurdles Propel Ethiopian Fintech Startup to Neighboring Markets

The digital credit scene does not have a regulation governing the landscape, and current fintech players like Kifiya and even the likes of telebirr have to partner with banks to provide the service.

Two-Year-Old Fintech Startup SantimPay Posts 86 Million Birr Profit

With an Earnings Per Share (EPS) of 337.87 birr, SantimPay delivered notable returns to its shareholders.

Somaliland Startup Brings Digital Bookkeeping Platform to Ethiopia

The mobile app is specifically designed to simplify financial management for small businesses, allowing users to digitally record credits and debits for accurate financial tracking.

Headless Chicken or Emergent Nation: Ethiopia’s AI Prospects

In July 2024, Ethiopia’s Council of Ministers approved the country's first national AI policy

Ethiopia's Sovereign Wealth Fund Absorbs Eight Public Enterprises into Portfolio

At least five SOEs under EIH are also poised for listing in Ethiopia's maiden stock exchange.

Audit Review Uncovers Crosscutting Inefficiencies in Ethiopia's Passport Services

Delays in passport issuance, unauthorized penalties and even poor sanitation at bathrooms were highlighted in a post audit parliamentary review of Ethiopia's Immigration & Citizenship Services.

European Investors Voice Concerns Over Birr Crunch

As Ethiopia's FX reserves signal an increase following a transition to a market based exchange regime policy, investors are struggling to source local currency.

NBE Sets One-Month Deadline for Digital ID Requirement to Open Bank Accounts in Addis Ababa

The National Bank of Ethiopia has placed Fayda national digital IDs as a precondition for opening bank accounts in the capital by January 1st.