Issue 148 : Wind Power & Bonda

Hello

In the past week, Ethiopia signed a major renewable energy agreement. Other key developments include Safaricom Ethiopia's expanding customer base, progress in the Ethiopian Securities Exchange, and the growing market for second-hand "Bonda" clothing.

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Ethiopia has signed a landmark agreement with UAE's AMEA Power to develop the Aysha-1 wind project, a 300 MW initiative that will become the largest wind energy project in the Horn of Africa with an investment of $600 million. Read more. 

Equb Financial Technology has teamed up with Awash Bank. This partnership will involve integrating payment options through Awash Bank and utilizing Awash Bank Pro for eQub payments, as well as facilitating transactions at actual Awash Bank branch locations. Read more.

Ethiopia’s securities exchange is set to receive a major technological upgrade, having signed two landmark agreements for an Electronic Trading Platform (ETP) and a Broker Back Office and Order Management System (BBOMS). Read more. 

Safaricom Ethiopia's subscriber base has expanded by around 250,000 in the second quarter of 2024, reaching 4.6 million customers as the company accelerates its growth strategy. Read more.

As second-hand 'Bonda' clothing takes over the streets and social media of Addis, local textile manufacturers are struggling in the shadow of a booming contraband trade. Is this the dawn of affordable fashion or a crisis in the making? Read more.

The National Bank of Ethiopia (NBE) has introduced a new system to monitor commercial banks’ daily forex transactions as part of a broader set of financial reforms the country is undertaking. Read more.

Jamii is leveraging traditional Edir institutions to deliver microinsurance to the financially underserved. With an impressive 1 million people onboard, this Insurtech startup is bringing financial protection to those who need it most. Read more.

Ethiopia’s second-biggest private commercial bank has launched a Sharia-compliant digital financial service through a modified version of Dube Ale, a buy now, pay later scheme kicked off last year. Read more.

Cash Go, one of Ethiopia’s premier digital remittance platforms, has returned with features suited to the floated currency. Read more.