ADDIS ABABA – Prime Minister Abiy Ahmed (PhD) has emphasized the far-reaching benefits of Ethiopia’s Fayda National ID, asserting its capacity to revolutionize various sectors by accurately identifying individuals.
“There is no sector that cannot be affected by ID,” he stated, highlighting the ID’s crucial role for national and citizen well-being.
A key benefit of the digital ID system, according to the Prime Minister, will be its ability to curb cross-border crime by preventing non-Ethiopian citizens from using false Ethiopian identities, a challenge amplified by shared cultural and linguistic ties with neighbouring nations.
He expressed optimism that widespread adoption of Fayda National ID within the next two to three years will significantly contribute to the national development plan, boost business confidence, and modernize existing systems.
Drawing parallels with global experiences, Abiy noted that nations embracing digital identification have seen substantial benefits, while those lagging behind have faced negative consequences. He also highlighted the significant interest from numerous African countries in learning from Ethiopia’s digital ID journey, with many viewing its progress as a potential model.
Turning to service sector reforms, the Prime Minister underscored the global trend of developed economies deriving the majority of their GDP from the service sector, with agriculture and industry contributing less than 30%. In this context, he emphasized the growing importance of Ethiopia’s capital market.
“Ethiopia is a beginner in the capital market sector,” Prime Minister Abiy acknowledged, while drawing inspiration from the rapid advancements in China and India despite their late entry. He stressed that the capital market is an integral part of the service industry, offering individuals opportunities to generate additional income through their assets.
Furthermore, the Prime Minister articulated the capital market’s role in fostering innovation by connecting creative ideas with available capital. He affirmed the government’s commitment to ensuring the capital market benefits both individual citizens and entrepreneurs, aiming for significant positive impacts within a shorter timeframe compared to traditional market development.
BY EYUEL KIFLU
THE ETHIOPIAN HERALD FRIDAY16 MAY 2025
