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The Central Ethiopia Region has attracted 268 investors, contributing more than Birr 13.4 billion in capital, according to the region's Investment and Industry Office.

M-Birr Limited, an Irish company, announced last week that it had concluded an deal with the National Bank of Ethiopia and Ethio Telecom to start providing mobile banking solution to financial institutions through M-Birr ICT Services Plc, its subsidiary Ethiopia.

M-Birr will install two huge data centres here which will support and streamline the mobile banking services. M-Birr will also train the staffs of financial institutions for which it will provide the services, Thierry  Artaud, CEO of M-Birr Limited and general manager of M-Birr ICT services Plc, said.

The mobile banking service, also known as SMS banking or M-banking, allows clients to check their balance, make transaction and payments from their accounts, and perform credit application and other banking transactions from their cell phones.

M-Birr has signed a memorandum of understanding with five micro-financial institutions like Dedebit. It will also hold talks with private and state-owned banks to provide them with the latest technology in the banking sector, according to Artaud.

The company will launch the project with an initial investment of 1.5 million euro.

The partly implemented National Payment System in the country is said to be ideal in supporting and streamlining such services as mobile banking among financial institutions.

Source: The Reporter

The irrigation dam being on the Omo River, Ethiopia for the six sugar factories being built in the region is progressing six months into construction.

The construction of a 840 meter long 26 meter high temporary structure to store the water has been fully completed with the water extending to a depth of 24 meters.

The permanent structure of the dam will be jointly constructed by the Ethiopian Water Works Construction Enterprise and a Chinese contractor beginning in this fiscal year said Moges Kifle, river diversion project manager.

Experts from the International Organization for Standardization (ISO) are in Addis Ababa, Ethiopia to give trainings in quality standardization.

The two day training, organized in collaboration with the Ethiopian Standard Agency (ESA), is aimed at helping Ethiopia embrace international standardization methods, Daniel Zenebe, ESA’s communication and public relations head, told WIC.

Israel’s Foreign Minister, Avigdor Liberman, along with the business delegates of 50 companies that escorted him is having discussion with Ethiopian tycoons over possible partnership deal.