The post Cameroon, Ethiopia join hands for digital transformation appeared on BitcoinEthereumNews.com. Homepage > News > Business > Cameroon, Ethiopia join handsThe post Cameroon, Ethiopia join hands for digital transformation appeared on BitcoinEthereumNews.com. Homepage > News > Business > Cameroon, Ethiopia join hands

Cameroon, Ethiopia join hands for digital transformation

Cameroon’s state-owned telecommunications company, CAMTEL, has partnered with Ethiopia’s Ethio Telecom to drive digital transformation in the Central African country.

The two telecoms announced the new partnership in Cameroon’s capital, Yaoundé, as they presented their Master Service Agreement to Prime Minister Joseph Dion Ngute.

“We are here because CAMTEL and Ethio Telecom share a common vision, to digitally transform CAMTEL and also empower the Government of Cameroon through digital solutions that we have successfully deployed in Ethiopia,” Ethio Telecom Director General Frehiwot Tamru, told reporters.

The partnership aims to foster the growth of Cameroon’s digital economy, with projects that will include digitalizing the country’s public services, promoting digital financial solutions such as mobile money and expanding access to wireless networks. The two will also partner to upgrade networks to 5G and establish a sovereign government cloud.

The Ethiopian telco will work with CAMTEL to launch Blue Money, a new electronic payment service for Cameroonians.

Cameroon is not starting from scratch in digital payments and mobile money. According to a report by the regional central bank for Central African states (CEMAC), Cameroon accounted for 62% of all mobile money accounts in the six countries under the CEMAC bloc. It also represented over 75% of all the mobile money value transacted in the region.

But despite this high adoption, CAMTEL has remained away from the market, currently dominated by MTN and Orange. Blue Money will be its first attempt at penetrating the fast-growing market, which now accounts for most of the daily local and cross-border payments.

Replicating Ethiopia’s digitalization success

CAMTEL is seeking to tap into Ethio Telecom’s expertise in rolling out digitalization strategies, stated General Manager Judith Yah Sunday. By tapping a regional powerhouse, the Cameroonian telco is proving that “Africa does not need to import all its models as it can generate its own,” she added.

“Your institution demonstrates that a public operator can transform itself, scale digital adoption, sustain financial performance, drive national innovation, foster inclusion, and to do so while remaining fully aligned with the strategic vision of the state,” Sunday stated.

Ethio Telecom is Africa’s largest state-owned telco, with a turnover of over $2.8 billion this year from its 80 million users. It has played a key role in Ethiopia’s digitalization drive, including spearheading the rollout of the Fayda national digital ID. Last year, it pledged to issue at least one million digital IDs monthly.

Ethiopia remains one of Africa’s leaders in digitalization. This month, the Eastern African country adopted the Digital Ethiopia 2030 strategy, which will build on the government’s ongoing efforts to digitalize public services and boost the growth of the digital economy. The five-year roadmap is centered on the Fayda digital ID, which, at the start of the month, boasted 29 million users.

Africa outpaces global average in AI usage

Elsewhere, a new report has revealed that two in three Africans used artificial intelligence (AI) at work in the past 12 months, outpacing the global average.

The report by PricewaterhouseCoopers (PwC) revealed that 64% of African workers employed AI in 2025; the global average is 54%. However, only 17% reported using AI daily, while the weekly average of 18% had only improved slightly from a year earlier.

AI applications on the continent are still in their early stages and are limited to analytics and basic automation. Only a fraction of workers reported using AI agents extensively for advanced automation or scheduling.

Despite mounting global anxiety over AI replacing the human workforce and causing mass layoffs, African workers say the technology has boosted their income and job security. At least three in four workers also say AI has increased their creativity, productivity and the quality of their time.

Source: PwC.

“While most workers feel confident about job security, 30% of workers believe their current skills will stay relevant, as GenAI is projected to impact nearly half of roles across all levels in Africa,” PwC noted.

In order for artificial intelligence (AI) to work right within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain system that ensures data input quality and ownership—allowing it to keep data safe while also guaranteeing the immutability of data. Check out CoinGeek’s coverage on this emerging tech to learn more why Enterprise blockchain will be the backbone of AI.

Watch: Boosting financial inclusion in Africa with BSV blockchain

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Source: https://coingeek.com/cameroon-ethiopia-join-hands-for-digital-transformation/

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Crucial Insights: Two Fed Interest Rate Cuts on the Horizon?

Crucial Insights: Two Fed Interest Rate Cuts on the Horizon?

BitcoinWorld Crucial Insights: Two Fed Interest Rate Cuts on the Horizon? The financial world is buzzing with discussions around the future of monetary policy, and a recent statement from a key Federal Reserve official has added fuel to the fire. Investors, businesses, and consumers alike are keenly watching for signals regarding potential Fed interest rate cuts and their broader economic implications. What’s Driving Talk of Fed Interest Rate Cuts? Neel Kashkari, the president of the Minneapolis Federal Reserve Bank, recently made headlines by stating his belief that two additional Fed interest rate cuts would be appropriate this year. This isn’t the first time Kashkari has shared this perspective; he expressed a similar view back in August. His comments offer a glimpse into the ongoing internal debates and varying outlooks among policymakers regarding the optimal path for the nation’s economy. Understanding the context behind such statements is crucial. The Federal Reserve uses interest rates as a primary tool to manage inflation and support employment. When inflation is high, the Fed typically raises rates to cool down economic activity. Conversely, when economic growth slows or inflation targets are met, the Fed might consider cutting rates to stimulate spending and investment. How Do Fed Interest Rate Cuts Impact You? The prospect of Fed interest rate cuts carries significant weight for everyone. For instance, lower interest rates generally translate to: Cheaper Borrowing: Mortgages, car loans, and credit card interest rates can decrease, making it more affordable for consumers to borrow money. This can encourage home buying and larger purchases. Business Investment: Companies find it less expensive to borrow for expansion, new projects, and hiring, potentially boosting economic growth and job creation. Stock Market Performance: Lower rates can make bonds less attractive, pushing investors towards stocks, which might see increased valuations. This can also signal a more optimistic economic outlook. Savings Account Returns: On the flip side, interest rates on savings accounts and Certificates of Deposit (CDs) might also fall, offering lower returns for savers. These ripple effects touch various sectors, from housing to retail, and even extend into the cryptocurrency markets, where investor sentiment is often influenced by broader economic conditions and liquidity. Navigating the Economic Landscape: Why Are Policymakers Divided on Fed Interest Rate Cuts? While some policymakers, like Kashkari, see the appropriateness of multiple Fed interest rate cuts, others may hold different views. The Federal Reserve’s decisions are complex, balancing the need to control inflation with the goal of maintaining maximum employment. Key factors influencing these decisions include: Inflation Data: The pace at which inflation is returning to the Fed’s 2% target is a primary concern. Sustained progress is needed. Employment Figures: A strong job market might give the Fed more leeway to keep rates higher for longer, whereas signs of weakness could prompt cuts. Global Economic Conditions: International economic trends and geopolitical events can also influence the Fed’s domestic policy decisions. Market Expectations: The Fed also considers how financial markets are pricing in future rate movements, aiming to avoid undue volatility. The path forward is rarely straightforward, and the Fed’s approach is often described as data-dependent, meaning decisions can shift as new economic information becomes available. The Outlook for Future Fed Interest Rate Cuts Kashkari’s consistent view on two Fed interest rate cuts this year provides an important perspective, but it’s essential to remember that he is one voice among many on the Federal Open Market Committee (FOMC). The committee as a whole determines monetary policy through a consensus-driven process. As the year progresses, market participants will be closely monitoring upcoming inflation reports, employment data, and official Fed statements for further clarity. The timing and magnitude of any potential rate adjustments will significantly shape the economic environment, influencing everything from investment strategies to everyday household budgets. In summary: Neel Kashkari’s consistent advocacy for two Fed interest rate cuts this year highlights a potential shift in monetary policy. These cuts, if they materialize, could offer relief to borrowers, stimulate economic activity, and impact various markets. However, the ultimate decision rests with the broader Federal Reserve committee, which weighs a multitude of economic indicators before acting. Frequently Asked Questions (FAQs) Q1: What does it mean when the Fed cuts interest rates? When the Federal Reserve cuts interest rates, it generally means they are reducing the cost for banks to borrow money. This, in turn, often leads to lower interest rates for consumers and businesses on loans like mortgages, car loans, and credit cards, aiming to stimulate economic activity. Q2: Why would the Fed consider two Fed interest rate cuts this year? The Fed might consider two interest rate cuts if they believe inflation is consistently moving towards their 2% target, or if there are signs of slowing economic growth that could benefit from stimulation. Policymakers like Kashkari may feel the current rates are too restrictive given the economic outlook. Q3: How quickly do Fed interest rate cuts affect the economy? The effects of Fed interest rate cuts can be seen relatively quickly in financial markets, but they typically take several months to fully filter through to the broader economy, impacting consumer spending, business investment, and inflation. Q4: Will Fed interest rate cuts impact my cryptocurrency investments? While not a direct impact, Fed interest rate cuts can indirectly affect cryptocurrency markets. Lower traditional interest rates might make riskier assets like cryptocurrencies more attractive to investors seeking higher returns. Additionally, a more liquid and stimulated economy can sometimes boost overall market sentiment, benefiting crypto assets. Q5: Who is Neel Kashkari? Neel Kashkari is the president of the Federal Reserve Bank of Minneapolis. He is one of the twelve regional Federal Reserve Bank presidents who contribute to the Federal Open Market Committee (FOMC) discussions, which set the nation’s monetary policy. Did you find this article insightful? Share your thoughts and help others understand the potential impact of future Fed decisions! You can share this article on your favorite social media platforms. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin price action. This post Crucial Insights: Two Fed Interest Rate Cuts on the Horizon? first appeared on BitcoinWorld.
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