Ethiopia secures $4 billion project financing from abroad
The Government of Ethiopia has obtained close to 142.3 billion birr (about $3.95 billion) external financing for its…
Finance
Ethiopia increases annual tax revenue 18 percent
The Government of Ethiopia has increased its annual tax revenue for the budget year concluded July 7, 2020…
Ethiopia allows local banks to borrow from foreign banks
The National Bank of Ethiopia (NBE), financial sector regulatory body of the country, today passed a directive that…
Company monthly tax contribution surpasses ten million
The monthly tax contribution of ABBAHAWA Trading PLC, the company engaged in multiple sectors from export to manufacturing…
ABBAHAWA’s tax contribution surpasses ten million
The monthly tax contribution of ABBAHAWA Trading PLC, the company engaged in multiple sectors from export to manufacturing…
Development Bank of Ethiopia secures $613 million government loan
The Ethiopian Parliament on Thursday approves 21.2 billion birr (about $613 million) long term loan to poorly performing…
Ethiopia collects over $6 billion tax income
The Ministry of Revenue of Ethiopia collected 217.24 billion birr (about $6.32 billion) tax income during the first…
Ethiopia increases budget by 7 percent
NEWS – The Ministry of Finance of Ethiopia today presented a draft national budget of 476 billion birr…
Ethiopian banks’ loan disbursement grows 24 percent
NEWS- The 18 commercial banks in Ethiopia have disbursed a total loan of 221 billion birr (about $6.44…
Zamzam Bank of Ethiopia sold over $18 million shares
Zamzam Bank S.C., one of the Islamic banks under formation in Ethiopia has sold shares with a total…
Ethiopia limits cash withdrawal from banks
With the aim of fighting tax avoidance and illegal circulation of money, the National Bank of Ethiopia (NBE)…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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)…
Ethiopia- Dashen Bank makes $40 million profit
Compared to the preceding budget year, the gross profit (before tax) of Dashen Bank, one of the biggest…
Ethiopia – Zemen Bank profit soars 87 percent
As compared to the previous year, the annual profit before tax of Zemen bank, one of the financial…
Ethiopia – Abay Bank profit grows 63 percent
During the budget year concluded June 30, 2029, the annual profit before tax of Abay Bank Share Company,…
Ethiopia – Enat Bank income increases by $7.3 million
Compared to the previous financial year, the annual income of Enat Bank, one of the private banks in…
Ethiopia – Oromia Insurance Company profit up 14 percent
During the budget year concluded June 30, 2019, Oromia Insurance Company (OIC) has registered a gross profit (before…
Ethiopia – Lion Bank profit surges 45 percent
Compared to the preceding budget year performance, annual gross profit (before tax) of Lion International Bank (LIB), one…
Ethiopia – Oromia International Bank earnings per share drops 29%
Compared to the proceeding budget year, Earnings per share of Oromia International Bank (OIB), one of the private…