News

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.

Policy Roadmap Looks to Resurrect Ethiopia’s Plummeting Innovation Ranking

Despite state-led progress in digitization of several government services, Ethiopia’s aggregate rank has fallen by five positions to 130th in the 2024 Global Innovation Index.

Parliament Green Lights 900 Billion Birr Debt Security Issuance for CBE Reform

CBE’s non-performing loans are primarily comprised of obligations accrued from a host of SOE's. Above 90% of this debt is owed by three troubled SOEs that have not regularly serviced their loans.

Alibaba Teams Up with Local Company to Open First Showroom in Addis Ababa

Customers can select from the portfolio of products available in the showroom or place orders for specific items to be imported.

Lack of Financing for Data, Statistics Hampers Evidence-Based Policy in Africa

A shocking eleven African countries, including Ethiopia, have failed to conduct a single population census in nearly a decade.