Ethiopia secures one billion dollars from World Bank
Encouraged by the current political and economic reform in Ethiopia, the World Bank is set to provide a budget support of one billion dollars, Prime Minister Abiy Ahmed said.
UN agency urges Africa to combat money laundering
The Executive Secretary of UN Economic Commission for Africa, (ECA) Vera Songwe, said that combatting bribery, money laundering and tax evasion should be a priority if Africa has to finance its transition…
Alibaba Group Founder provides $10 million to Africa Entrepreneur Prize
Alibaba Group founder and Executive Chairman Jack Ma today launched the Jack Ma Foundation ‘Netpreneur’ Prize, a new program created to support and fund African entrepreneurs.
Disruptive technology set to enhance financial inclusion in Africa
The United Nations Economic Commission for Africa (UNECA) is collaborating with the International Financial Corporation (IFC) and Ant Financial (Ant) to promote digital financial inclusion in Africa, through investment and technical capacity…
African Development Bank Group appoints new vice president
The African Development Bank Group announces the appointment of Dr. Mateus Magala as Vice President for Corporate Services and Human Resources, effective from September 1, 2018.
African Development Bank approves $250 million Risk Participation Agreement
The Board of Directors of the African Development Bank on Wednesday, 18 July 2018, approved an unfunded US$ 250-million Risk Participation Agreement with ABSA Bank Limited.
Dashen Bank launches new Ethiopian Digital Wallet
Dashen Bank, the leading private digital bank in Ethiopia, and its technology partner, Moneta Technologies, launched “Amole” based on its digital omni-channel payment platform.
Trade Insurance set to pay first dividends to African governments
In a much anticipated announcement, the African Trade Insurance Agency (ATI), declared that its General Assembly had approved the first ever payments to shareholders, which includes African governments.
Nigeria court orders release of African billionaire’s properties in UK
The Federal High Court in Abuja, Nigeria has directed the immediate release of two properties located in the United Kingdom (UK) belonging to African Billionaire businessman and CEO of the Aiteo Group,…
UN urges countries to help Africa fight money laundering, tax evasion
The Secretary-General of the United Nations, Mr. António Guterres, who is in Addis Ababa for the joint African Union (AU) – UN joint annual meeting, appeals the international community to help Africa…
African Development Bank transparency ranking improves
The 2018 Aid Transparency Index Report, released by ‘Publish what you Fund’ has ranked the African Development Bank 4th among 45 development organizations, lifting the Bank by six positions since 2016.
Ethiopia sacks two state bank presidents
Ethiopian government today announces sacking of two big state bank presidents. The Finance Institutions Enterprises Agency of Ethiopia has appointed new presidents for the Commercial Bank of Ethiopia (CBE) and the Development…
UN agency to set up African Women Leadership Fund
The UN Economic Commission for Africa is planning to set up the African Women Leadership Fund to help speed up the growth of women-led businesses around the Continent.
National Bank of Ethiopia needs complete reform
The former advisor at the National Bank of Ethiopia (NBE), who now calls the institution ‘money printing press’, urges the government to completely reform the regulatory body of Ethiopia’s financial sector.