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In a significant development, the House of Peoples’ Representatives of Ethiopia (HPR) approved the National Payment System Proclamation and Public Private Partnership (PPP) Proclamation legislation recently.
In a significant development, the House of Peoples’ Representatives of Ethiopia (HPR) approved the National Payment System Proclamation and Public Private Partnership (PPP) Proclamation legislation recently. The National Payment System Proclamation repeals the existing proclamation passed in 2011. The PPP proclamation amends the Proclamation passed in 2018.
The amendment to the National Payment Proclamation (PPP) empowers the fintech companies to invest in the county, thereby creating an enabling situation for more investments in the country, while the PPP Proclamation would help the finance sector develop by creating an enabling environment where knowledge and skill would be transferred to the private sector.
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The National Payment System Proclamation would not cover banking activities. However, it allows foreign investors to invest in payment services that are not classified as banking services, thereby enhancing the flow of investments into the country. The amendments to both proclamations are expected to bring more foreign investments into the country, where investors were shying away from investing because of violence erupted in the Northern part of the country-Tigray.
Singita Kwitonda Lodge of Rwanda has been ranked among the world’s top 35 resorts by the US luxury and lifestyle magazine, Conde Nast Traveler, which is expected to give a boost to the tourism sector of the Central African country. The rare recognition of the Rwandan hotel came in the 34th annual research for 2022 list released recently. Hotels were ranked based on reader reviews.
Singita operates more than 15 luxury lodges with the recent one opening in Rwanda. The Singita Volcanoes National Park in Musanze is part of Singita’s ambitious undertaking to work with the Rwandan government and local, forward-thinking communities to rehabilitate, reforest and maintain the biological integrity of 7000 acres of land.
Singita Kwitonda is the only lodge abutting Volcanoes National Park and is closest to the park headquarters. It is one of the most picturesque tourist spots overlooking the thick forest cover, where rare animals including gorillas reside.
