Ethiopia to issue forex bureau licenses
BY YANET FANTAYE WOGAYEHU – For the first time in the country’s history, the National Bank of Ethiopia (NBE), the financial sector regulatory body of the country, has begun accepting applications from…
Ethiopia devalues its Birr 31 percent
The Government of Ethiopia today announced liberalization of the forex market, which immediately resulted in about 31 percent devaluation of the country’s currency – Birr against major currencies.
African ministers call for international financial system remaking
Dozens of finance and foreign ministers met this week to call for radical action to reform the international financial architecture, empower developing countries in international institutions and channel trillions of dollars towards…
Ethiopia, UAE ink currency swap agreement
The Central Bank of United Arab Emirates (CBUAE) and the National Bank of Ethiopia (NBE) sign currency swap agreement and MoUs to promote the use of domestic currencies and interlink their payment…
ATIDI’s profits jumps to $69 million
African Trade and Investment Development Insurance (ATIDI) recorded a remarkable performance for the financial year ended December 2023, backed by increased uptake of the insurer’s political and credit risk products on the…
Ethiopia’s financial sector poised for takeoff, but hurdles remain
By Anwar Hussen Mohammed – Ethiopia, Africa’s second-most populous nation with about 120 million people, boasts a fast-growing economy. Underpinning this growth is a financial sector undergoing a period of significant change.
How to avoid hidden, expensive fees during money transfers
By Anwar Hussen Mohammed – The increasing services charges and hidden fees by banks has been one of the main challenges while transferring funds from one country to another. In most cases…
Strengthening financial systems for sustainable development in Africa
In a significant step toward bolstering public finance systems, experts and stakeholders from across Africa gathered today for a workshop on Integrated National Financing Frameworks (INFFs).
AFRODAD demands debt justice on Africa Day
On Africa Day celebration, the African Forum and Network on Debt and Development (AFRODAD) recognizes the continent’s remarkable achievements in securing major positions to influence global economic, financial, and tax policies.
Djibouti sovereign wealth fund partners with Tamini Insurance
At the conclusion Djibouti Forum on Tuesday, Djibouti’s sovereign wealth fund (Fonds Souverain de Djibouti) and Tamini Insurance signed a memorandum of understanding with Tamini Insurance, part of the influential Salaam Group,…
Africa advised to improve public financial management
New research to be launched at the Africa Public Sector Virtual Conference hosted by ACCA (the Association of Chartered Certified Accountants) highlights deficiencies and route to stronger public service delivery.
IMF set to release $360 million to Ghana
An International Monetary Fund (IMF) staff team, led by Mr. Stéphane Roudet, Mission Chief for Ghana, held meetings in Accra during April 2-12, 2024, which will enable Ghana to access to about…
Africa Finance Corporation raises $1.16 billion
Africa Finance Corporation (AFC), the leading infrastructure solutions provider in Africa, has announced close of its largest ever debt facility, a $1.16 billion syndicated loan, attracting new lenders from the Middle East,…
Islamic Development Bank Institute trains Ethiopian bankers
The Islamic Development Bank Institute (IsDBI) has delivered an Islamic banking capacity-building program for the Ethiopian banking sector that involved training bankers.