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 the recently appointed president of EBE.
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 cattle as collateral to access loan from banks.
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 billion at the prevailing exchange rate) at the end of last Ethiopian fiscal year…
Ethiopia allows payments in foreign currency
The macroeconomic committee recently set up the new reformist Prime Minister Abiy Ahmed of Ethiopia on Wednesday has passed a directive that allows payments in foreign currently for selected business areas.
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 (NBE), financial sector regulatory body of the country.
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 (UAE), who is on official visit in Ethiopia, signed a $3 billion investment agreement…
Ethiopian banks’ revenue grew to 24 percent
The total profit of commercial banks in Ethiopia, grew by 24 percent this year as compared to the similar period last year. This is excluding the new private banks, which have not began…
Oromia Insurance increases asset 43 percent
Oromia Insurance Company, which joined Ethiopian insurance business a year ago, announced that its total asset has grown by 43 percent.