2merkato

Chapa Financial Technologies, an Ethiopian fintech company, has launched a gateway service that enables organizations and business to accept and make payments worldwide using multiple channels.

The company’s founder and CEO Israel Goytom said “with more than 110 million people, Ethiopia is the second largest country by population in Africa, but fragmented payments have been a significant problem for most Ethiopian business and entrepreneurs. We have acquired and established holy-grail tools, exclusive technologies and methodologies to ensure the production of qualified hi-tech fixes for our customers. Now, business can focus on scaling their businesses while we handle their payment issues”.

Chapa was founded in 2020 by entrepreneurs Israel Goytom and Nael Hailemeriam. The National Bank of Ethiopia officially licensed the homegrown fintech company in May 2022. The company's primary mission focuses on building payment APIs and payment tools for ambitious Ethiopian businesses.

Source: Fana BC and Newsfile

Image source: Fana BC

The Chemical Industry Corporation (CIC) announced a revenue of Birr 5 billion from its industrial chemical input products over the past eleven months. Its revenue grew by 28.9% compared to the previous year’s figures.

A roadmap that will enable the chemical industry in Ethiopia to manage its development has been restructured, the Chemical and Construction Inputs Industry said.

Director of the Chemical and Construction Inputs Industry Development Institute, Deyesa Leta, said at the consultation session on the roadmap with stakeholders of the industry, "The finding of the research has shown vast technological and expertise gaps in the Ethiopian chemical industry."

Nib Insurance Company, which was established in 2002, hired China Communications Construction Company (CCCC) to construct its head office. The agreement will cost Nib Birr 812 million.

The insurance company pays Birr 15 million annual rent for its current headquarter which is located in Dembel City Center. Zufan Abebe, CEO of Nib, said, “Our current offices are not convenient for our daily tasks, and the rent price is increasing from time to time.” The company’s headquarter, which will have 23 storeys, including four basements and a mezzanine, will be built beside Mega Building, on Africa Avenue.

Addis Ababa Education Bureau and China Jiangsu International signed a contract to build two schools in the Ethiopian capital, Addis Ababa. The China-Africa Friendship Schools Project will cost 60 million Chinese yuan (US$9.6 million).

Signing the contract, Xie Wei, deputy general manager of China Jiangsu International, said his company will complete the project within 20 months. The China-Africa Friendship School Project "is another landmark for the relations between China and Ethiopia. We will carry out the project strictly as per the agreement to make our contribution to deepen the friendship," Xie said.