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BusinessEthio Telecom, Ethiopia’s state-owned telecommunications provider, reported a significant financial performance for the first half of the fiscal year, generating 61.9 billion birr ($491.57 million) in revenue. This marks an increase of over 40% compared to the same period last year, according to CEO Frehiwot Tamiru. The Ethiopian government is in the process of privatizing
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BusinessIn a significant step toward supporting Ethiopia’s growing electric vehicle (EV) ecosystem, Ethio Telecom has launched an ultra-fast EV charging station along Bole-Megenagna Road in Addis Ababa. This initiative aligns with the company’s vision of driving digital transformation and promoting sustainable mobility. The state-of-the-art facility is designed to meet the increasing demand for fast and
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TechAs of December 2024, Safaricom Ethiopia reported a 245% increase in registered M-PESA customers, reaching 10.8 million, up from 3.1 million in December 2023. This growth was primarily driven by airtime purchases and cross-border money transfers. Despite the surge in customer numbers, M-PESA’s total revenue declined by 74% to approximately $75,969 in the nine months
TechM-PESA Safaricom Mobile Financial Services PLC has announced a strategic partnership with Dashen Bank S.C. and CashGo to revolutionize international remittance services in Ethiopia. This collaboration aims to provide Ethiopians with a seamless, secure, and efficient way to receive money from abroad directly into their M-PESA mobile wallets, marking a significant step forward in the
TechAwash Insurance has announced a strategic partnership with Safaricom M-PESA, Ethiopia’s leading mobile financial services platform, to integrate its insurance services into M-PESA. This collaboration aims to provide customers with secure, efficient, and convenient mobile payment solutions for their insurance transactions. Through this partnership, Awash Insurance customers can now make premium payments and conduct other
Banking & FinanceDashen Bank has unveiled Ethiopia’s first-ever banking Super App, a state-of-the-art, all-in-one digital banking platform, at a grand event held at the Sheraton Addis Hotel. This innovative solution sets a new standard for digital banking, offering a wide range of features aimed at delivering speed, reliability, and exceptional customer satisfaction. “As Dashen Bank, we are
Banking & FinanceWegagen Bank, in collaboration with E-Birr Mobile Financial Services, has introduced a mobile wallet service designed to enhance financial accessibility. The service eliminates the need for branch visits, allowing users to open wallet accounts, transfer funds, make payments, and manage transactions seamlessly through a mobile app or USSD code. The mobile wallet was officially launched
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Crypto NewsDecember 4, 2024, Bitcoin achieved a landmark, crossing the $100,000 threshold for the first time in its history. The Journey to $100K Bitcoin was introduced to the world in 2009 by an anonymous figure or group known as Satoshi Nakamoto. Its early days were marked by obscurity, with one of the first known commercial transactions
Crypto NewsThe evolution of technology has transformed capital markets, from the advent of the telegraph to today’s algorithm-driven, high-frequency trading. These innovations have made financial systems faster, more efficient, and accessible to a broader range of participants. This article explores key technological tools that have shaped capital markets, detailing their impact on trading efficiency, market accessibility,
EconomyEthiopia is at a pivotal moment in its economic development, with digitalization emerging as a critical driver for inclusive growth and transformation. As the country works to diversify its economic activities and foster equitable benefits distribution, mobile telecommunications and mobile money services have become central to this vision. A recent report by GSMA titled “Driving
