Ethiopia to issue forex bureau licenses
BY YANET FANTAYE WOGAYEHU – For the first time in the country’s history, the National Bank of Ethiopia…
National Bank of Ethiopia
Ethiopia devalues its Birr 31 percent
The Government of Ethiopia today announced liberalization of the forex market, which immediately resulted in about 31 percent…
Ethiopia, UAE ink currency swap agreement
The Central Bank of United Arab Emirates (CBUAE) and the National Bank of Ethiopia (NBE) sign currency swap…
Dashen Bank of Ethiopia assets up 25 percent
The total assets of Dashen Bank, one of the biggest private banks in Ethiopia, has grown up 24.7…
Ethiopia increases exporters’ forex retention to 50 percent
By Muluneh Gebre – The National Bank of Ethiopia (NBE) has announced that it has increased the amount…
Ethiopia set to launch securities exchange
Efforts are underway to develop Ethiopia’s financial market as the government prepares to launch securities exchange in 2024.
Ethiopia appoints new national bank governor
The Office of the Prime Minister of Ethiopia today announced the appointment of Mamo Mihretu as the new…
Ethiopia conflict causes 10 percent decline in school enrolment
The ongoing conflict and war in the northern part of Ethiopia has led to 9.8 percent decline in…
Ethiopia outstanding treasury bills up 500 percent
Ethiopia’s Government total outstanding treasury bills (T-bills) has increased by close to 500 percent in 2020/21 to 116.6…
Ethiopia economy set to grow 8.7 percent this year
The Government of Ethiopia forecasted 8.7 percent economic growth for the current Ethiopia’s budget year started July 8,…
Bunna Bank of Ethiopia introduces new logo
Bunna Bank, one of the private financial institutions in Ethiopia, today announced rebranding itself with a new logo…
Ethiopian bankers advised to start uncollateralized lending
Data expert with hands in digital financial sector for over a decade in East Africa, Hartnell Ndungi, advised…
Ethiopia export earning reaches all time high
The annual export in goods income of Ethiopia for the first time has reached all time high to…
Ethiopia economy grows 2 percent this year, IMF says
The International Monetary Fund (IMF) forecasts that Ethiopia’s economy will only grow by 2 percent for the current…
Study advices Ethiopia not to rush to banking liberalization
As oppose to the push by the international financial institutions, a new study by the renowned professor of…
Ethiopia set to introduce centralized bank borrowers database
With objective of decreasing nonperforming loans of banks, the National Bank of Ethiopia is set to introduce a…
Ethiopia distributes 96 billion Birr new currency notes
The National Bank of Ethiopia said it has distributed over 96 billion Birr (about $2.6 billion) valued new…
Ethiopia allows local banks to borrow from foreign banks
The National Bank of Ethiopia (NBE), financial sector regulatory body of the country, today passed a directive that…
Zamzam Bank of Ethiopia sold over $18 million shares
Zamzam Bank S.C., one of the Islamic banks under formation in Ethiopia has sold shares with a total…
Ethiopia limits cash withdrawal from banks
With the aim of fighting tax avoidance and illegal circulation of money, the National Bank of Ethiopia (NBE)…
Ethiopia to provides $460 million to private banks
In an effort to rescue the economy from collapsing due to COVID-19 pandemic, the Government of Ethiopia orders…
Banking expansion in Ethiopia, inherent shortcomings
BY ABEBE WOLDE GIORGIS – Currently, the banking industry in Ethiopia is growing rapidly in terms of accessibility,…
Debub Global Bank of Ethiopia profit doubles
Debub Global Bank of Ethiopia has made gross profit (before tax) of 284 million birr (close to $8…
Ethiopia gets first foreign leasing company
Ethio Lease, a subsidiary of Africa Asset Finance Company Inc. (AAFC), a US-headquartered equipment finance firm, enters Ethiopian…
Ethiopia’s state bank deposit surpasses $17 billion
The total deposit of Commercial Bank of Ethiopia (CBE) exceeds half a trillion birr (over $17 billion), said…
Ethiopia’s smallholder farmers to use cattle as collateral
The Government of Ethiopia is set to introduce bank directive that will allow smallholder farmers to use their…
Ethiopia banks capital hikes 8%
The total capital of bank in Ethiopia has increased by around 8% to 85.7 billion birr (around $3.1…
Ethiopia allows payments in foreign currency
The macroeconomic committee recently set up the new reformist Prime Minister Abiy Ahmed of Ethiopia on Wednesday has…
Highly indebted Ethiopia appoints new central bank chief to rescue economy
The highly indebted government of Ethiopia announces the appointment of a new governor for the National Bank of…
Ethiopia secures $3 billion investment from United Arab Emirates
Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates…