Zamzam Bank S.C., one of the Islamic banks under formation in Ethiopia has sold shares with a total value of…
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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…
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Ethiopia tax revenue increases by $1 billion
Ethiopia’s tax revenue has increased by over one billion dollar this year compared to the previous year. The Ministry of…
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IMF approves $411 million assistance to Ethiopia
The International Monetary Fund (IMF) Executive Board approves US$411 million in emergency assistance to Ethiopia to address the COVID-19 pandemic.
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Ethiopia collects $5.5 billion tax revenue
Over the past nine months (July 2019 to March 2020) the government of Ethiopia has collected 183.2 billion birr ($5.5…
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Ethiopia Diaspora Trust Fund responds to COVID-19
The Ethiopia Diaspora Trust Fund (EDTF) Advisory Council has established an “EDTF Emergency COVID-19 Mitigation” effort committing $1 million start-up…
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Word Bank provides $82 million to Ethiopia
The World Bank provides $82 million assistance to the Government of Ethiopia for the fight against the spread of coronavirus…
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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…
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World Bank provides $500 million to Ethiopia
The Government of Ethiopia secured $500 million grant and loan from the World Bank. The World Bank’s Board of Executive…
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Commercial Bank of Ethiopia gets new boss
The Commercial Bank of Ethiopia (CBE), the state owned financial institution with over half market share in the country’s banking…
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Ethiopian government finance institutions profit $332 million
The three state enterprises in Ethiopia engaged in providing financial services have made 10.7 billion birr (about $332.1 million at…
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CBE brings $1.7 billion remittance to Ethiopia in six months
Commercial Bank of Ethiopia (CBE), the giant state owned financial institution, says in six months’ time it has received $1.7…
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Ethiopia collects $567 million tax in December
The Ministry of Revenue of Ethiopia announces collecting 18.1 billion birr (about $567 million at the current exchange rate) in…
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Ethiopia – Addis International Bank profit grows 39 percent
Addis International Bank, one of the private financial institutions in Ethiopia, has made a gross profit (before tax) of 205.2…
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