Nigeria’s Paga expands into Ethiopia through acquisition of  longtime partner, Apposit

Nigeria’s Paga expands into Ethiopia through acquisition of longtime partner, Apposit

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NIGERIA – Nigerian digital payments startup Paga has acquired Apposit, a software development company based in Ethiopia, for an undisclosed amount. The Lagos based startup will also launch its payment products in Mexico this year and in Ethiopia imminently, CEO Tayo Oviosu…

Ethiopian Airlines to start building a new US$5bn international airport this year

Ethiopian Airlines to start building a new US$5bn international airport this year

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ETHIOPIA – Ethiopian Airlines, Africa’s largest carrier, plans to start building a new US$5 billion airport in six months, its CEO, Tewolde GebreMariam, said. Ethiopian’s rapid expansion is causing it to outgrow its current base in Ethiopia’s capital Addis Ababa. The airport,…

IMF approves US$3bn program to support transition to private sector led economy in Ethiopia

IMF approves US$3bn program to support transition to private sector led economy in Ethiopia

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ETHIOPIA — The IMF has approved a program for Ethiopia of almost US$3 billion which is aimed at supporting the Ethiopian government’s own Homegrown Economic Reform Program. The program is designed to eliminate macroeconomic imbalances and lay the foundation for sustainable and…