Issue 150

Hello

Ethiopian Prime Minister Abiy Ahmed rolled out the red carpet for tech titan Bill Gates, who made a brief visit to the country last week. Through his foundation, Gates has played a significant role in the establishment and ongoing support of the Agricultural Transformation Agency (ATA) in Ethiopia. 

Beyond agriculture and health, Gates has been involved in initiatives such as the collaboration between Microsoft and Gebeya. The partnership aims to train 300,000 African software developers in cloud computing and AI.  During his whirlwind trip, Gates met with agricultural stakeholders, toured poultry farms, and had high-level discussions with key government officials, including National ID & Governor Mamo Mihretu.

This week's roundup also includes financial initiatives by the NBE to attract remittances, currency swap agreement, new fintechs making an entrance, and other updates on the innovative landscape of the nation.

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The Microsoft founder wields enormous influence over agriculture in Africa. He may be trying to end hunger, but critics say he is ‘playing god’ – and getting it wrong. Read more.

Dashen Bank, in partnership with Eagle-Lion System Technology and Mastercard, has introduced a new online payment service called "GetFee - Pay By Link". This service allows customers to make secure and convenient online payments using Mastercard, Visa, and American Express cards. Read more.  

Ethiopia and China have reached a currency swap agreement, allowing trade in Ethiopian Birr and Chinese Yuan, according to Finance Minister Ahmed Shide. Read more. 

In a bid to streamline the capital's fragmented parking system, currently managed by 350 youth unions, Addis Ababa's Traffic Management Authority is introducing digital parking tickets in the Ethiopian New Year. Read more.

In a spirited financial gathering, the National Bank of Ethiopia (NBE) has launched a national portal designed to streamline the process for Ethiopians in the diaspora to virtually open bank accounts in both local and foreign currencies. Read more.  

According to the Reporter, an agreement has been reached to import 10,000 POS (point of sale) machines to facilitate a digital payment system that accepts all bank cards.

The first 1,000 machines have already been brought into Ethiopia, according to Khalid Mohammed, founder of Yagout Pay Financial Technology. This payment system will support transactions with 18 different bank cards, allowing merchants to provide POS services from various banks in a single location. Read more.  

Capping more than a year of collaboration, Ethiopia’s policy bank, the Development Bank of Ethiopia, has partnered with the Ministry of Labor & Skills to disburse 43 million dollars in youth entrepreneurship and Small and Medium Enterprise (SME) support. Read more.

The Ethiopian Electric Utility has announced a rolling increase in power tariffs over the next four years as part of a comprehensive power sector reform.

Quarterly increments averaging 10% will be progressively applied, with the first round slated for next month. This will result in EEU customers facing an average power utility cost increase of 400% by 2028. Read more. 

A local startup, just a year old, is aiming to transform the Ethiopian advertising industry with a platform that connects ad space owners with potential advertisers. Read more.