Ethiopia to allow diaspora invest in banking, insurance
The National Bank of Ethiopia (NBE), the agency in charge of regulating the financial sector of the country, is set to introduce a regulation that will allow Ethiopians in the diaspora to…
Addis Ababa City collects $663 million tax in six months
The Addis Ababa City Government Revenue Authority has collected 18 billion birr (around $663 million) during the first six moths of the Ethiopia’s current fiscal year started July 8, 2018.
European Investment Bank invests 3 billion euro in Africa
The European Investment Bank agreed EUR 3.3 billion ($3.74 billion) of new financing in 2018 for private sector and infrastructure investment in 20 African countries.
Ethiopia provides $2.4 billion tax incentive for investors
As part of investment incentive, the Ethiopian Ministry of Revenue has provided duty free import privilege of 65 billion birr (around $2.4 billion at the prevailing exchange rate) in the past six…
EU finance Ethiopia’s job creation effort
The European Union (EU) on Thursday agrees to provide 130 million euros to Ethiopia in support of the country’s effort to create jobs.
Ethiopia PM discusses reform with bankers
Prime Minister Abiy Ahmed of Ethiopia held discussions with heads and representatives of financial institutions to discuss the current reforms within the sector.
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…
Ethiopian Airlines, Hibret launch co-branded debit card
Ethiopian Airlines and Hibret Bank of Ethiopia have launched the first Co-branded debit card tailored to provide Ethiopian Sheba Miles members with bonus miles for their spending using the debit card.
Ethiopia collects $3 billion tax in five months
The government of Ethiopia has collected 83 billion (close to $3 billion) in the first five months of starting July 8, 2018.
Ethiopia captures cash smuggling woman
Continuing its fight against illicit financial outflows, the government of Ethiopia’s customs authorities on captured a woman who was smuggling $33,250 cash out the country.
AfDB approves $1489 million private sector credit enhancement facility
The Board of Directors of the African Development Fund (ADF), the concessional window of the African Development Bank Group, approved credit risk participations by the Private Sector Credit Enhancement Facility (PSF) in…
Commercial Bank of Ethiopia struggles to make profit in Djibouti
By Andualem Sisay Gessesse – Djibouti – Commercial Bank of Ethiopia (CBE), which reopened its branch in Djibouti 18 months ago, is still struggling to make profit.
Norway provides finance for adolescent, youth development in Ethiopia
The Royal Norwegian Embassy in Ethiopia signed a grant agreement today with UNFPA and UNICEF amounting to NOK 100 million (USD 11.3 million) in support of ‘Joint Programme on a Rights-based Approach…
European Investment Bank provides loan for women entrepreneurs in Ethiopia
The European Investment Bank (EIB) signed today a new loan with the Ethiopian Ministry of Finance and Economic Cooperation to further boost female economic inclusion and empowerment across the country.