Ethiopia’s state bank deposit surpasses $17 billion

Commercial Bank of Ethiopia secures $ 2.4 billion from remittances in nine months

Economy

The Commercial Bank of Ethiopia (CBE) has reportedly secured close to 2.4 billion USD remittance over the past nine months.

Briefing the media today, CBE Hawala Services Manager Yohannes Liqu said remittance from the Ethiopian Diaspora is critically important to the country’s foreign exchange growth.

According to him, illicit money transferred through the black market is harming the country.



The black market has a negative impact on CBE’s ambition to support the nation’s developmental activities by reducing foreign currency, the manager complained.

According to him, it is important that the Ethiopian Diaspora realize sending money legally will help both their families and the country. (ENA)