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 and color.
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 bankers in Ethiopia to serve the huge Micro, Small and Medium Enterprises (MSMEs) in…
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 about $3.5 billion for the current Ethiopian budget year set to be concluded July…
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 fiscal year began July 8, 2020.
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 Economics at the Addis Ababa University, Alemayehu Geda advices Ethiopian government to not to…
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 centralized database with credit information of all bank borrowers in the country.
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 currencies notes since the country began replacing the old currency with the new ones.
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 allows local banks to borrow from foreign banks.
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 value of 623,694,000 birr (about $18.34 million at current exchange rate). It will be…
Ethiopia limits cash withdrawal from banks
With the aim of fighting tax avoidance and illegal circulation of money, the National Bank of Ethiopia (NBE) today introduced a directive that limits cash withdrawal from banks.
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 the central bank to disburse 15 billion birr (close to $460 million dollar) to…
Banking expansion in Ethiopia, inherent shortcomings
BY ABEBE WOLDE GIORGIS – Currently, the banking industry in Ethiopia is growing rapidly in terms of accessibility, asset development, capital accumulation, profitability, provision of loan and saving.
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 million at the current exchange rate), which is double compared to the previous year…
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 market.