Mobile Money Accounts in Ethiopia Climb High to Nearly 60 Million

Mobile money accounts in Ethiopia have seen a significant increase, reaching close to 60 million subscribers, according to data released by the National Bank of Ethiopia. This figure represents more than a two-fold increase between December 2021 and 2022, indicating a sweeping trend in the country’s banking habits.

The substantial growth was unveiled in a snapshot of Ethiopia’s Financial Sector Indicators as of March 2023. As per the snapshot, Ethiopia has 22 million mobile banking users, 4.8 million internet banking users, and 35 million debit card holders.

In terms of payment system activity, the Ethiopian Automated Transfer System (EATS), which is used to transfer large funds...

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Sparking Innovation in Jijiga: Guul Club Incubation, Co-working Space Aims High

A group of entrepreneurs and academics have established a startup incubation center in Jijija with the goal of nurturing a vibrant startup ecosystem in the Eastern City.

Guul Club, which opened its doors in 2022, provides a working space, short-term training, as well as support and networking for startups and businesses.

Its three co-founders, who have seven years of experience in business, technology, and consulting, envision their Club as a platform to promote new startups.

“Jijia has not seen many initiatives targeting startups and innovation. Some nonprofit organizations do some work, but these efforts have not been permanent. We want Guul to be a center for the young community that...

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