A rapid online fundraising platform has been officially launched, enabling Ethiopians and people of Ethiopian origin worldwide to participate in the final construction phase of the Grand Ethiopian Renaissance Dam (GERD).
Ethiopian Diaspora Service Director General, Ambassador Fitsum Arega, and the founder of Fastpay-et, Fitsum Tesfaye, have signed a Memorandum of Understanding (MoU) to operationalize this online fundraising method.
Ambassador Fitsum stated that since the national reforms began, an institutional framework has been established to enhance diaspora participation in Ethiopia's development. He noted that the diaspora has consequently shown active participation in Ethiopia's development initiatives, the GERD project, and other national affairs.
He highlighted the diaspora's efforts in advocating for Ethiopia's national interests, even lobbying at the United Nations level. He also noted that Ethiopians and people of Ethiopian origin have contributed 1.5 billion Birr to the GERD so far through bond purchases and donations.
Pointing out that the GERD is now in its final phase, he called upon the diaspora community to leave their mark by participating in this monumental project initiated and being completed solely by Ethiopians.
The Ethiopian Diaspora Service plans to raise 3 million USD through this initiative by the upcoming month of June, Ambassador Fitsum revealed, adding that over 700,000 USD has already been collected towards this goal.
He urged the diaspora to utilize this opportunity, as the new platform allows them to easily contribute from home using their mobile phones, conveniently and without incurring additional transaction fees.
Fitsum Tesfaye, founder of the digital financial technology company Fastpay-et, stated that their system provides the diaspora with a convenient way to seize the opportunity to contribute during the GERD's final construction phase.
Describing every diaspora member as an ambassador for their country, Tesfaye added that the technology also facilitates increased remittance flows into Ethiopia through formal financial channels, as reported by ENA.