AfDB appointed new private sector development department head
The African Development Bank (AfDB) on Sunday appointed Aida Ngir Ngom as the new Director of its Private Sector Development Department.
IMF approves $100 million for Somalia
The Executive Board of the International Monetary Fund (IMF) approved a new 3-year arrangement under the Extended Credit Facility (ECF) for Somalia in an amount of SDR 75 million (about 45.9 percent…
Bunna Bank makes 1.35 billion Birr profit
Bunna Bank Schare Company today announced making 1.35 billion Birr profit before tax during the budget year concluded June 30, 2023.
New CLUB set to help indebted countries of South
By Andualem Sisay Gessesse – The Common Leveraging Union of Borrowers (CLUB), the group recently launched by members of Organization of Southern Cooperation (OSC) is set to provide instruments for the indebted…
Dashen Bank of Ethiopia assets up 25 percent
The total assets of Dashen Bank, one of the biggest private banks in Ethiopia, has grown up 24.7 percent the fiscal year concluded June 30,2023 reaching 144.6 billion Birr.
German supports financial training for Ethiopians
The German Embassy in Addis Ababa, Ethiopia, in cooperation with Giesecke+Devrient (G+D) sponsored financial training for Ethiopians engaged in banking sector and the business community.
IFC, FirstRand Bank partner to finance SMEs in South Africa
The International Finance Corporation (IFC) today announced a loan to FirstRand Bank, which will support businesses in the agriculture, services, trade, construction, hospitality, and other sectors in South Africa.
Ajay vows to make World Bank “better bank”
By Andualem Sisay Gessesse (Marrakech, Morocco) – The newly appointed World bank President Ajay Banga expresses his plant to make the Bank a ‘better bank and Knowledge bank’.
USD rise doesn’t impact much emerging economies
By Andualem Sisay Gessesse (Marrakech, Morocco) – The recent rise of the United States Dollar will not have much impact on the emerging economies, says an expert at the International Monetary Fund…
African MPs urged to seriously interrogate executives on debt
The Members of parliament (MPs) of African countries are urged to seriously interrogate their executives to understand the magnitude and usage of the debt the executives borrow on behalf of their people.
IFAD, Stanbic Bank to cut money transfer costs to Uganda
The UN’s International Fund for Agricultural Development (IFAD) and Stanbic Bank Uganda (SBU) today announced a partnership that will cut the cost incurred by Ugandan migrant workers sending money home in half…
Ethiopia increases exporters’ forex retention to 50 percent
By Muluneh Gebre – The National Bank of Ethiopia (NBE) has announced that it has increased the amount of forex that exporting firms can retain after exporting commodities from 30 to 50…
New World Bank president set to visit Ethiopia
The new World Bank president Ajay Banga is set to visit Ethiopia this week starting July 31, 2023.
Islamic Trade Finance Corporation inks $1.2 billion deal
The International Islamic Trade Finance Corporation (ITFC), a member of the Islamic Development Bank Group (IsDB), has signed seven major agreements with Azerbaijan, Burkina Faso, Cote d’Ivoire, Nigeria, and Uzbekistan on the…