Ahadu bank pens partnership agreement with two tech companies, Chapa Technologies Solution and Laki Pay Fin-tech.
The companies signed the agreement on Friday May 19, 2023 in a ceremony held at the Inter-luxury hotel. According to the bank, the technology companies will provide a digital payment gateway service which will streamline all its banking activities.
“In terms of improved efficiency, the bank will be able to streamline its process and reduce the time and resource required to complete various tasks, including mobile apps. Furthermore, online bank customers can access their information and easily transfer fund, pay bills, and much more which enhances customer experience,” stated the bank in its statement.

Ahadu bank which is in its maiden financial year started its operation on July 16, 2022 making it the 20th financial entrant to the country’s expanding financial sector with a 671-million-birr capital.
The bank has now more than 140k customers and 60 branches all over the country, and is now on track to reach 70 branches before the end of the fiscal year. As indicated on the signing ceremony, the bank has more than 1.2-billion-birr in deposit.
Its partner in this endeavor, Chapa, was established in 2020 by a team of home-grown engineers, researchers, and entrepreneurs who now serve as an Ethiopian financial service provider and data engineering company. As the firm outlines, the inevitable increase in global trade which has been visibly troubled by inconvenient payment methods has served as the strongest initiative behind the establishment of Chapa.
Laki pay is also a payment gateway and hardware free soft mPOS that processes online payment authentication and safely passes cardholder data among the parties within the transaction flow.

Big 5 Construct exhibits in Addis

Government’s high engagement in the construction sector has come at a cost of inflation, balance of payment pressure and debt risk, the Ministry of Finance underlines.
Speaking on the opening ceremony of the Big 5 Construct Ethiopia exhibition Ahmed Shide, Minister of Finance pointed out that over the last 15 years, the government has heavily invested on massive infrastructures including road networks, railways, airports, irrigation development, and expansion of universities.
Nevertheless, as the Minister contrasts, despite the merits of the projects whose outcomes are rapid economic growth, the flipside has led to inflation, debt risk, as well as a balance of payment pressure.

“The government for the last few years has been working a lot on the home grown economic reform agenda to sustain and achieve fast economic growths and to have a price stability on the economy as well as sustainable balance of payment availability,” Ahmed stated, adding, “As part of the home grown economic agenda, we are working to rebalance the role of the State in terms of investment, and in encouraging more private sector engagement in to the economy. The government is now paving the way for meaningful and significant private sector development in the economy.”
In recent years, it is well known that government has mainly been investing in infrastructure developments including parks, palaces, roads, railway, irrigation systems, housing and industrial parks.
“Significant portion of our budget goes to infrastructure related activities for which construction is atop,” the minister cited indicating that the government will continue to maintain its strategic investments only on huge flagships such as hydropower dams.
On matters exhibition, the first edition of the Big 5 Construct took place from 18 to 20 May 2023 at the Millennium Hall in Addis Ababa, Ethiopia.
Highlighting the top opportunities, products, services and stakeholders in Ethiopia’s construction industry, the exhibition brought together 6,000 plus building, construction, and infrastructure professionals to network, inspire growth and uncover the latest trends and innovation in construction.
“The exhibition is aligned with the objectives of the nation’s 10-year perspective development plan, Ethiopia 2030: The Pathway to Prosperity, particularly the goal to prioritize a thriving construction sector. The country offers many prospects in industries including construction, manufacturing, and infrastructure,” said Chaltu Sani, Minister for Urban and Infrastructure while endorsing the exhibition.
At least 15 countries comprising 100 plus manufacturers and distributors exhibited their latest products and services, innovations and solutions pertaining to the full construction cycle from inception to completion in the Ethiopian construction industry.
Availability of foreign currency, lack of raw materials and construction products, bureaucracy are said to be some of the challenges in the construction sector.

“Government has given significant incentives for the construction sector in general terms of making free of charge importing materials, supporting the capacity building of local construction and in addressing some of the micro economic challenges like inflation, and Forex,” said Ahmed, adding, “To enable investors to best navigate forex challenge for strategy investors, we are going to allow the convertibility and transferability guarantee as part of PPP or a joint venture project involving either Ethiopian Investment Holding as well as major investors across the globe.”
“We have been supporting domestic construction industries for the last years and will continue to do so. Nonetheless, we are also attracting more international construction companies into Ethiopia,” he further elaborated on the progress made over the years.
The twelfth edition of Addis build, now in the global portfolio of construction events as Big 5 Construct Ethiopia was organized by dmg events, a leading organizer of face-to-face events and publisher of trade magazines and information services, alongside Ethel Events & Communications as its local partner.
According to global data, the size of Ethiopia’s construction market reached USD 41 billion in 2021. Its average annual growth rate is expected to increase by more than 8% over 2023-2026, indicating a promising future for the industry. Whilst key sectors for growth include construction in the industrial, commercial, residential, energy and utilities and infrastructure sectors.

Ethio-Djibouti Railway (EDR) commences transportation of imported heavy trucks by train from Djibouti port to Addis Ababa for the first time.
One of the services EDR launched this year was to transport automobiles from the port of Djibouti to the center of the country, which now has come to fruition.
“Motor importing firms are requesting EDR to start importation through train which is often a safer service. Now, we have further increased our service and launched the first service in our Nation to transport trucks from the port of Djibouti to the interstate,” revealed the company. The trucks has arrived at Endode Railway station this week.
In a single voyage the company which is jointly owned by Ethiopia and Djibouti has the capacity to move 240 vehicles to the center. In the past few months’ relevant offices and logistics companies of the two countries have been working on the vehicle freights process through the cross country electrified railway system.
According to the company, the new initiative will save energy and cargos will be transported in bulk in less than 20 hours.
“It was reported that the transport services of the railway were preferable in terms of speed, price, and automobile safety. Transporting vehicles from the port of Djibouti using trucks takes days,” contrasted logisticians that work for the company.
EDR has 20 wagons that can transport about 240 vehicles in a single fleet. A single wagon can carry up to 14 vehicles and the number depends on the size of the vehicles.
Although dependent on the size of the cargo cars, the vehicles shipment capacity of EDR on average is about 24 folds of car carrier trucks on its single fleet.
Ethiopia-Djibouti Railway Transport has been engaging in transporting both import and export goods including edible oil, fertilizer, full container loads, steel, and other goods as well as passenger rail transportation services from the port of Djibouti to the center of the country since its inception in 2018.

Ethiopia’s pioneering vehicle importer, Nyala Motor Share Company celebrates its 50th year anniversary.

The vehicle distributor which has shaped the country’s wheels on the road was established in April 1973 by five founding members with a registered capital of 50,000 birr.
“When the company was setup, it began its operation with the sales of Datsun automobiles. Today Nyala Motors S.C is the current exclusives distributor of Nissan vehicles, UD trucks, VE commercial vehicles (Eicher Buses & Trucks), unicarrier forklifts and Mac power battery for Ethiopian market,” said Mesfin Bogale, General Manager of the company, while speaking at the celebration which was held on Thursday May 18, 2023 at the Sheraton Addis luxury hotel in the presence of Alemu Sime, Minister of Transport and Logistics, company’s management, members and customers.

“The company’s main aim is to not only sale Nissan vehicles but also lead the market in providing quality after sale services to its valued customers,” said Mesfin.
The sole importer and distributor of Japanese made vehicles in the country began with the import of the Datsun automobile back in 1973 in its first small facility located around Somale-Tera in the current compound of Paul Ries and Sons (Ethiopia) Ltd.
In the process of expanding its product range, the cooperation with UD Trucks Corporation (the Nissan Diesel Corporation) started in 1987 with the import and distribution of Nissan Diesel Trucks and Buses and today it has become the exclusive distributor for Nissan motors vehicles, UD trucks, VE commercial vehicles, Unicarrier forklifts and Macpower battery.
Besides its headquarter and offices in Addis Ababa, the company is operating 6 branch offices in Lideta, Hawassa, Bahir Dar, Diredawa, Mekelle, and Jimma to cover the major cities of the country.