2merkato

The African Development Bank (AfDB) has granted a loan of Euro 26.1 million to construct an underground power transmission line as part of the Ethiopia-Kenya electricity highway. The project aims to boost power supply to Kenya's Laikipia Airbase and surrounding areas.

Chapa, a payment solution provider in Ethiopia, has partnered with Telegram, one of the world's most popular messaging apps. This collaboration will allow merchants using Telegram to seamlessly accept payments from their customers.

Viditure Technology Solution PLC announced that it was set to launch its all-new digital/E-signature application, Weleta. Weleta, which will be the first digital signature technology in Ethiopia, is expected to replace wet signatures with electronic ones.

The Ethio-Kazakhstan Business Forum took place in Astana, featuring a prominent delegation led by Ambassador Misganu Arga, Minister of State for Foreign Affairs. Ambassador Arga highlighted Ethiopia's investment potential and the government's incentives for foreign investors.

Sidama Bank has officially started providing services as of yesterday. At the launch program, the Deputy Governor of the National Bank, Ato Solomon Desta, emphasized that the bank's success would play an important role in the country's economic development and in providing access to modern banking on a large scale. Sidama Bank is one of the five banks that have transformed from small financial institutions to banks in the past five years.

Ethiopian Airlines and Customs Commission have signed an agreement to improve their services for the increasing number of passengers and goods. It is expected that the agreement will enhance customer service for Ethiopian Airlines and enable the Customs Commission to provide faster and more reliable services. The agreement is also important for controlling prohibited and restricted goods and ensuring transit goods are handled appropriately.

The Livestock Development Institute (LDI) has reported that animal product exports have yielded approximately USD 86 million in revenue over the past eleven months.

The Ministry of Transport and Logistics has announced the successful implementation of the electronic fuel payment system. The system offers multiple payment options, including Tele Birr, CBE Birr, Fuel app, and Copay-ebirr and has facilitated over Birr 24 billion in transactions nationwide and is currently being used in 1,317 gas stations across the country. Over 10 million electronic fuel transactions have been conducted using these payment options since the system's national implementation.

The Ministry of Mines has announced its intention to provide specialized support and monitoring to gold producing companies. During a meeting between the Minister of Mines, Habtamu Tegegn, and representatives of gold producing companies to discuss the production plan for the 2023/2024 fiscal year, Habtamu Tegegn affirmed that the companies would receive necessary support and monitoring to improve their products and increase their income.

Oromia Investment and Trade Bureau plans to increase the number of agro-processing industries in the region. Bureau Head Ahmed Idris made the announcement while signing an agreement with local investors to launch 11 projects in the Bulbula Agro-Processing Industrial Park.