In a significant development, Faysal Yusuf Dini, an Islamist banker, and Aid of Hormuud Telecom’s Chairman Ahmednur Ali Jim’ale, was apprehended by FBI agents at Jomo Kenyatta International Airport. Dini stands accused of financing terrorist operations in East Africa, with his alleged involvement in the notorious bombings on August 7, 1998, that targeted the American...
El Nino rains have brought devastating flash floods to Somalia, further worsening an already dire humanitarian situation for communities. Reports indicate that 29 people have died because of the heavy rains. Close to 1.2 million people have been impacted by the floods, losing productive assets, and ways of earning a living, and over 334,000 people have lost their homes....
Addis Abeba – M-PESA, Safaricom Ethiopia’s Mobile Financial Services, goes live today three months after receiving the Payment Instrument Issuer License from the National Bank of Ethiopia. In preparation for launch, M-PESA has undergone a rigorous three-month pilot and testing, completed the technical readiness, secured key partnerships with Banks, recruited, trained, and onboarded M-PESA agents. All...
By Samuel Bogale The CEO of state-owned telecom giant ethio telecom says her office will do the “necessary work” to push for the end of social media restrictions, acknowledging the decision still is beyond her control. Frehiwot Tamiru told Parliament the social media curbs create “disappointing experiences” for ethio telecom’s customers and argued the operator...
By JAMES ANYANZWA Mobile phone operator Safaricom’s net profit for the full year ended March 31, 2023 dropped by 22 percent on account of a deteriorating business environment and a surge in operating costs linked to the Ethiopian operations. The telco’s net profit fell, for the second year in a row, to Ksh52.48 billion ($383.34...
Ethiopia has granted Safaricom a licence to launch M-Pesa services in the populous nation that is largely unbanked. The telco expects to roll out the mobile money services before the end of the year, which is set to lift M-Pesa’s profile since its launch in Kenya in 2007. “As of this morning, Safaricom Ethiopia has...
By Abdiwahab Mohamed Somalia, a country that has been ravaged by conflict and political instability for more than three decades, has recently announced plans to issue new banknotes to tackle the problem of inflation and stabilize the economy. The move is expected to address the unusual situation in Somalia’s currency market, where both legitimate and...
National Bank of Ethiopia, the country’s industry regulator is proposing a $150 million license fee from M-Pesa and other mobile operators who want to set up shop in the country. In a draft proposal signed by Solomon Damtew, the Payment and Settlement System Director at the National Bank of Ethiopia, the regulator is referring to...
Ahmed Mohamed MOGADISHU, SOMALIA — Somalis are hailing the capture of the port town of Haradhere as a major victory in the fight against the Islamist militant group al-Shabab. The port, once a base for Somali pirates, was a key revenue source for the militants. But analysts say holding onto Harahere and other territories seized from...
By Mohammed Yuusuf Early in the morning of the 24th of February 2022, Russia launched a full scale invasion of Ukraine. It was long expected despite the Russian denials. It didn’t take long for Western leaders to condemn Putin for his actions and to impose severe sanctions that prepared for this eventuality. On the same...