2merkato

The National Bank of Ethiopia has issued the directive allowing banks and micro-finance institutions to offer transaction based mobile and agent banking services. The directive has come into effect as of the 1st of January.

Mobile banking services include deposits and withdrawals through electronic means as well as facilitating payment and money transfer.

The directive has been anticipated by banks such as Berhan, United and Zemen who have had acquired the capacity to offer e-services but have been unable to do so because awaiting the proper regulatory framework from the central bank.

The National Bank of Ethiopia (NBE) issued a license to Ethio Lease. This makes Ethio Lease the first foreign-owned entity to obtain a license for financial services in Ethiopia.

The Ethiopian Investment Commission announced that it has issued licenses for 130 investment projects worth 20.2 billion Birr capital in the first quarter of this fiscal year.

The Ethiopian House of Representatives has taken a significant step towards safeguarding personal data with the endorsement of the Personal Data Protection Bill. The bill was reviewed and approved during the 20th regular meeting of the 3rd parliamentary session, with one objection and a majority vote.