The government aims to enhance financing options that attract private sector participation beyond traditional banking institutions, despite its commitment to avoid using direct advances (DA) to address the budget deficit.
In an effort to access the DA, a legacy public debt contributing significantly to inflation, the government has opted to reduce its activities. This is part of the ongoing economic reform process initiated over the past several years.
For instance, during the previous fiscal year, the Ministry of Finance (MoF) and the National Bank of Ethiopia (NBE) agreed that the DA facility should be employed only as a last resort when the market fails to produce sufficient Treasury bonds and Treasury bills (Tbills).
Despite this agreement, the government obtained 112 billion birr from the NBE via DA in the fiscal year ending June 30, 2024, increasing its...
In an exclusive interview with Capital’s Groum Abate, Jonathan Somers, the Middle East and Africa Sales Director for NetGuardians, discussed the alarming rise of digital scams in Ethiopia's banking sector. As the country undergoes significant transformations in digital banking and financial products, Somers emphasized that these changes have also led to an increase in sophisticated scams that exploit vulnerable customers.
Somers explained that many of the scams currently affecting Ethiopian banks involve social engineering tactics, particularly phishing. He elaborated on how fraudsters use text messages and phone calls to impersonate bank support staff, tricking victims into providing sensitive information or transferring money unknowingly. The interview highlights the urgent need for enhanced security measures as the banking landscape evolves.
With the rapid growth of e-commerce in Ethiopia, Somers noted that scammers are also taking advantage of online shopping platforms to defraud customers by offering non-existent products. He pointed out that while romance...
In a recent interview with Capital’s Groum Abate, Francis Agbonlahor, Managing Director of Inchcape Africa and the Motor & Engineering Company of Ethiopia Limited (MOENCO), shared insights into the company's six-decade legacy in Ethiopia's automotive industry. As a subsidiary of Inchcape PLC, a prominent global player in premium automotive distribution, MOENCO has navigated various challenges, particularly in the face of foreign exchange constraints impacting the sector. Agbonlahor discussed the company's strategic initiatives to adapt to these economic hurdles, its commitment to sustainability through the introduction of electric vehicles, and the significant contributions MOENCO has made to Ethiopia's socio-economic development. This conversation sheds light on the evolving landscape of the automotive market in Ethiopia and MOENCO's pivotal role in shaping its future.
Capital: Can you describe the current challenges MOENCO is facing regarding foreign exchange availability for importing vehicles and parts?
Francis Agbonlahor: MOENCO, a company of Inchcape, the leading independent global...
Open Tender for the procurement of the Hidasie Telecom S.C. Head Quarter and Business Complex Finishing Work from G+5th floor and External Façade work
Tender No. LT/HT/HO/12/2024
The Employer plans for procurement of the Hidasie Telecom S.C. Head Quarter and Business Complex Finishing Work from G+5th and External Façade work floor in Addis Ababa
The employer invites sealed bids from Category GC1eligible bidders for the provision of the finishing work of the above-mentioned building.
Bidding will be conducted in accordance with the open national tendering procedures outlined in the Public Procurement Proclamation of the Federal Government of Ethiopia and is open to all bidders from eligible source countries.
Interested eligible bidders may obtain further information from the address below from 8:30 a.m. to 12:00 a.m. and 1:30 p.m. to 5:00 p.m. local time from Monday to Friday, and from 8:30 to 11:30 a.m. local time on Saturday. A complete set of bidding Documents in English may be purchased by interested eligible bidders upon presentation of copy of renewed business license for the year 2017 E.C, starting from December 02, 2024from the address below and upon payment of a non-refundable fee of Ethiopian Birr ÂÂÂÂÂÂÂÂÂÂÂÂÂÂ1,000.00 (one thousand birr only)by cash.
Bids must be delivered to the address below on or before December 26, 2024, 10:00 AM local time. All bids must be accompanied by a bid security of Ethiopian Birr 2,250,000.00. (two million two hundred fifty thousand Birr).
Late bids shall be rejected. Bids will be opened in the presence of the bidders or their representatives who...
Re-Bidding of Lot -5 of RECONSTRUCTION OF 22 HEALTH FACILITIES IN AFAR REGION
LRPS-2024-9194860
Topic- UNICEF (Ethiopia) wishes to request eligible bidders to participate in a Request for Proposal (LRPS) for the Re-Bidding of Lot -5 of RECONSTRUCTION OF 22 HEALTH FACILITIES IN AFAR REGION.
Details of this bid's requirements and eligibility criteria can be found in the bid document.
Interested and eligible bidders can get the bid document with the below links;
2merkato.com – https://tender.2merkato.com/tenders/6751a98e5792834da61a1ec1
Any query or clarification regarding this bid shall be sent through an email to supplyaddisababa@unicef.org before or on 25 December 2024. There will be a pre-bid meeting on 19 December 2024 @ 2:00 PM. Bid clarification will be communicated on the same website at 2merkato.com to the public. While sending your request for clarification, please ensure that you specify the LRPS number in the subject email, and provide the name of your company, contact person, email, and mobile number.
The due date for submission of proposals/Bids to the UNICEF Addis Ababa Office is on or before 2:00 PM (East African Time) on 30 December 2024. Please read the LRPS for detailed requirements and due dates.
Please quote the respective LRPS (request for quotation) numbers with the request for the
Re- Bidding of Lot -5 of RECONSTRUCTION OF 22 HEALTH FACILITIES IN AFAR REGION.
Submission of bids should be done as per the below requirements.
a) Technical bid submission should be with a separate email from the Financial bid submission
b) RFP reference and whether Technical or Financial submission should be indicated on the Subject of...
France is set to strengthen its involvement in Ethiopia's tourism sector, as announced during a recent visit to the National Museum by France’s Minister for Europe and Foreign Affairs, Jean-Noël Barrot alongside Minister of Tourism, Salamawit Kassa. The announcement was made on November 30, 2024, by Jean-Noël Barrot, who outlined plans for the development of a Sustainable Heritage project.
The...
The Ethio-China Film and Television Festival, marking the launch of Africa's first BRICS Film Festival, is scheduled to take place from December 20 to December 23, 2024, in Addis Ababa, Ethiopia. This inaugural event aims to foster knowledge exchange between film education institutions in China and Ethiopia while revitalizing the African film industry.
Organized by Goff Entertainment in collaboration with...
By: Theódros Tadesse Ayele
In a significant diplomatic breakthrough, Ethiopia and Somalia have reached an agreement facilitated by Turkish mediation,...
South Africa’s Minister of Mineral and Petroleum Resources, Mr Gwede Mantashe has committed to attend the four-day AOW energy event (https://AOWEnergy.com/) in Cape Town from 7 – 10 October.
AOW: Investing in African Energy brings together industry leaders to develop policy, share discoveries, secure investment, and shape Africa’s energy future. This year’s event will feature more than 1 600 senior delegates, 80 ministers and officials from 70+ countries and representatives of more than 760 companies.
Announcing Mantashe’s confirmed attendance, Chief Executive Officer of Sankofa Events, Paul Sinclair...
On the back of major investments from multilateral finance institution the African Development Bank, The Gambia is poised to increase its electrification rate to 70% – 50% in rural areas – by the end of the year. In the wake of the country’s burgeoning energy sector, The Gambia’s Minister of Petroleum and Energy Nani Juwara will participate as a speaker at this year’s African Energy Week (AEW): Invest in African Energy 2024 conference, which takes place in Cape Town from November 4-8.
The Gambia represents...