The New Ethiopian Government to address the grievances raised over the issue of diaspora shares confiscated by NBE

Ethiopian birr NBE diaspora shares

Ethiopia’s parliament recently passed a bill to open up the country’s financial sector to an estimated five million citizens living abroad or with dual nationality, including allowing them to buy shares in local banks and start lending businesses. Reports Reuters The changes are part of a raft of economic reforms initiated by Prime Minister Abiy Ahmed when he came to power last year, partly aimed at boosting the country’s foreign exchange reserves, which had dropped precariously low. “The law will enable the Ethiopian born diaspora to take part in the…

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EurAfrican Forum 2019: Siyanda Mohutsiwa: “A shared imagination is behind some of society’s greatest achievements”

A Conversation Between Presidents Eurafrican Forum 2019, July 4-5 EAF19_BoaOnda

CASCAIS, July 9, 2019 For the second year, Portugal was the stage of the EurAfrican Forum 2019, that gathered 450 participants from Europe and Africa on July 4-5, with the theme “Partnership of Equals: Sharing Values, Sharing Prosperity” – a new approach and paradigm for the relationship between Europe and Africa, changing the narrative for both continents to create an accountable, prosperous and sustainable future together. As Siyanda Mohutsiwa, Satirical Writer from Botswana and living in the USA stated, “A shared imagination is behind some of society’s greatest achievements: technology,…

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EurAfrican Forum 2019: Chef Elijah Amoo Addo Confirmed To Address About How Food Can Foster Stronger Relations Between Europe And Africa

Chef Elijah Amoo Addo Confirmed To Address About How Food Can Foster Stronger Relations Between Europe And Africa EurAfrican Forum 2019

CASCAIS, May 31, 2019, The EurAfrican Forum organization announced today that chef Elijah Amoo Addo, founder and CEO of the Food for All Africa, will deliver a pitch about how food can be a link between people and regions to establish stronger relations for Europe and Africa on the first day of the event, July 4, at the Forum’s lunch. “The EurAfrican Forum is a major platform which addresses the realities of Europe’s influence on Africa and the need for Europeans to work with youth led African organizations and entrepreneurs…

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Second Edition EurAfrican Forum 2019 to take place in July themed, Partnership of Equals: Sharing Values, Sharing Prosperity

EurAfrican Forum, an action-oriented platform that aims to foster stronger collaboration between Europe and Africa, has been scheduled for July 219. The second edition is themed “Partnership of Equals: Sharing Values, Sharing Prosperity” – a new approach and paradigm for the relationship between Europe and Africa, changing the narrative for both continents to create an accountable, prosperous and sustainable future together. The Forum is a networking and discussion platform underpinned on the power of Diasporas for connecting people, cities, regions and continents. By invitation only, EurAfrican Forum’s event gathers prominent…

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Amazon retreats from its China business in defeat, could it also mean anything for its India market?

Amazon CloudFront Edge

Is it possible that the almighty Amazon, global dominator of all things retail and pulveriser of hapless competitors, has finally conceded defeat in China? It certainly seems that way, as the US-based global e-commerce Goliath announced it would bring the curtain down on its Chinese marketplace business in July and will revert to offering only overseas products to domestic Chinese customers. “We are notifying sellers we will no longer operate a marketplace on Amazon.cn, and we will no longer be providing seller services on Amazon.cn effective July 18,” the company…

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Jumia hits US$196-million in landmark New York IPO but investors may regret funding an elusive dream

Jumia billed as Africa’s first “tech unicorn”, is a venture-capital funded company valued at more than $1bn on the New York Stock Exchange. Its lack of a profitable model didn’t seem to matter much on the first day of trading on Friday, as the stock surged by 75%. Jumia filed S1 documents with the US Securities and Exchange Commission (SEC) last month to launch its IPO, which was underwritten by banks such as Morgan Stanley and Citigroup. The stock went on sale on Friday 12 April 2019, initially valued at…

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Unregulated digital apps loans, consumer protection among emerging issues that require attention- CBK Kenya Study

The 2019 FinAccess Household Survey report presents results of data collected during October – December 2018 covering 11,000 households across the country. The survey targeted individuals aged 16 years and above, from scientifically selected households, designed to provide significant estimates at the national and regional level and by residence (rural and urban areas). The 2019 survey focussed more on the usage, quality and impact/welfare dimensions of measuring financial inclusion. In addition, the questionnaire incorporated a needs-based framework to the measure the relevance of financial services and products; financial health and…

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Kenya accounts for 60 per cent of private equity investments to East Africa

Banking Crisis

Kenya accounted for more than half of funds pumped into the region by private equity (PE) and venture capital firms. A new report shows that Kenya received 59 per cent of the funds that private equity firms pumped into the region between 2013 and 2018. The report by the Africa Private Equity and Venture Capital Association (AVCA) indicates that there were 110 reported deals during the five years valued at Sh130 billion. Most of the money was invested in the consumer goods and technology sectors. Reports have in the recent…

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MTN launches ‘world first’ WhatsApp-based Airtime Top-up service

MTN says it will become the first mobile network in the world to let customers buy airtime and data bundles and check their balances directly on Facebook-owned messaging platform WhatsApp. The service, MTN Chat, will help customers manage their accounts “off a secure and convenient platform they already know and love”, said Mapula Bodibe, MTN SA’s consumer business executive. “It’s imperative that companies focus on improving self-service experiences to retain and grow customers and this is an important step for MTN,” Bodibe said. Calling it a world first for the…

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MPESA option now available on Aliexpress App

Shopping online can seem like a daunting task to some people, especially considering the  limited payment options and security issues that bog online transactions. Alibaba-owned e-commerce platform, AliExpress, has slowly but steadily gained popularity in Kenya as the platform opens up the Chinese vast goods market to Kenyans. International shopping in Kenya has mainly relied on third-party services such a Vitumob or Something Random, that aim to connect locals to the well-established platforms like Amazon but recently we have seen these shopping websites make an effort to directly reach their…

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