ADDIS ABABA, Ethiopia, Dec. 2, 2018 /PRNewswire-PRWeb/ -- API Renewable Energy, PLC launches Ethiopia's first commercial-scale biodiesel refinery in the Adama Industrial Zone. At the event ceremony held at Hilton Hotel Addis Ababa, API and Moneta Technologies, SC signed an agreement to use "Amole" for payment of seeds and services to community farmers.
The goals of API are to rehabilitate degraded lands, create large-scale employment and improve the region's environment while financially including over half a million farmers using "Amole" digital wallet.
Amole has signed up over quarter a million subscribers since it launched in July 2018 and will offer the community farmers, rural cooperatives, regional governments and NGO's a digital commerce platform. Amole will be used to pay farmers for seeds and services, pay workers salary, buy goods and credits from rural cooperatives; all will have access to Dashen Bank's extensive branch network, mobile money agents and Amole merchants to financially include the half a million community farmers into a digital ecosystem. API and Amole will jointly develop additional opportunities in digital payment capabilities for API's entire supply and demand chain business.
Marcos Bitew, CEO of API, said, "API and Amole partnership will bring financial inclusion for the unbanked and underbanked farmers, API is happy to partner with Amole, our goal for creation of over half a million farm jobs would result in tremendous benefit for the local communities."
Partnering closely with local communities, API invested in seedling development, nursery bed preparation, planting, caretaker training and education of local farmers regarding the benefits of cultivating biofuel crops. This API effort—the first initiative of its kind in the region—resulted in the world's largest plantation of Jatropha with 1.4 million hectares and the creation of over half a million farm jobs.
The community provides labor during land preparation and planting, protects the project area from animals and harvests and supplies Jatropha oil seeds. API buys Jatropha seeds from the community farmers and will provide daily and monthly salaries of project workers through Amole.
"By introducing Amole with such initiatives like API's, we are enabling commerce in the rural communities by supporting farmers, cooperatives, local government, NGO's and merchants in a sustainable digital ecosystem that goes beyond payment transactions," said Yemiru Chanyalew, the CEO of Moneta Technologies, SC. "There are many kinds of digital services we can enable with Amole to support the rural communities to create jobs, enable commerce, facilitate pension payments, provide micro insurance and lending plus much more…" Yemiru added.
ENDS
About API Renewable Energy, PLC
API is a public-private partnership formed to develop sustainable energy production and economic growth, API Renewable Energy PLC, was founded in Ethiopia in 2009. With a strong commitment to corporate social responsibility, API's ambitions for developing the biofuel industry in Ethiopia are built on three pillars: community, government and company.
API has partnered with a wide range of research and development entities, technology providers and end users, including: the India National Oil Seed Research Institute, Makerere University, Mekelle University, Mesfin Industrial Engineering, Messobo Cement Factory, Nile Petroleum Co. LTD, Tigray Co-operative Agency, and Yale University.
API has also worked closely with UNDP Ethiopia on climate change mitigation—specifically the use of biomass in the cement industry and the development of carbon credits; in addition, API is working expanding the renewable energy sector and proper usage of agro waste of energy with ISWAS Group LLC and Green Fuel Solutions.
For additional information:
You may also contact: Alan Oyugi – Director Communications & Public Relations
Phone: +44 203 287 0073 / +1 203 674 9215
Email: [email protected]
About Moneta Technologies, SC
Moneta Technologies, S.C. is a FinTech company, fully-owned subsidiary of Fettan Holdings, Limited of Kenya, the company is headquartered in Addis Ababa, Ethiopia. Amole Payment solution is a secure and efficient payment platform that links consumers, banks, merchants, mobile content aggregators and service providers into an electronic payment ecosystem.
Amole aims to deliver a collusive financial service to the unbanked and under-banked people of Ethiopia; enabling them access, aggregated financial services from their banks, service providers, agents and merchants at a single point of service.
Its mission is to deliver an effective, efficient, reliable, accessible and secure payment system that is relevant to Ethiopia's environment and fully supports the customer and the country's needs.
For additional information:
You may also contact Mr. Samson Getu- Vice President – Sales and Marketing
Mobile: +251 929903278
Email: [email protected]
About Dashen Bank
Dashen Bank S.C. was established on September 20, 1995 according to the commercial code of Ethiopia, 1960, and the licensing and supervision of banking business proclamation No. 84/1994.
Dashen Bank, the leading private digital bank in Ethiopia, pioneered electronic banking in Ethiopia and is the only bank accepting the four payment card schemes (Amex, VISA, MasterCard, and UnionPay).
For more: https://dashenbanksc.com/company-profile/
For additional information:
You may also contact Mr. Mulugeta Alebachew the Director for Marketing & Corporate Communications at Dashen Bank
Mobile: +251 911 08 36 94
Email: [email protected]
SOURCE Moneta Technologies
Share this article