Category
206 articles
Banking & FinanceThe National Bank of Ethiopia (NBE) has renewed its warning against the use of unlicensed money transfer agencies, stressing that both illegal operators and recipients inside the country face legal action. In a press release issued on December 29, 2025, the central bank said unauthorized money transfer services not only violate Ethiopian law but also
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced a USD 150 million special end-of-year foreign exchange auction, marking the first time such a large FX amount has been released since October 14. The auction, scheduled for Saturday, December 27, 2025, comes in addition to NBE’s regular bi-weekly FX auctions and is aligned with the central
Dashen Bank has reported a strong financial performance for the completed fiscal year 2017, registering a record total income of Birr 31.4 billion. The figure represents a 34 percent increase compared to the previous fiscal year, underscoring the bank’s continued growth momentum. According to the bank’s annual performance report, total assets rose sharply to over
Banking & FinanceEthiopia’s birr has ranked as the third-weakest currency globally in 2025, trailing only the Argentine peso and the Turkish lira, underscoring the depth of the country’s ongoing macroeconomic and debt-related challenges. The birr has depreciated by more than 15% against the U.S. dollar this year, weighed down by persistent dollar shortages, elevated inflationary pressures, and
Banking & FinanceThe Commercial Bank of Ethiopia (CBE) has signed a 27.8 billion birr loan agreement with Ethiopian Airlines to finance the construction of housing for the airline’s employees. The agreement aims to provide a long-term solution to the housing needs of Ethiopian Airlines staff while ensuring the availability of adequate financial resources for the large-scale construction
Banking & FinanceAt Friendship Park in Addis Ababa, Ethiopia’s digital finance story entered a new era as EthSwitch officially unveiled EthioPay, a national brand set to redefine how money moves across the country. The launch, attended by senior government officials, financial sector leaders, and key ecosystem players, marked more than the introduction of a new name. It
Banking & FinanceFC Africa has signed the country’s first blended finance partnership agreement focused on conflict-affected areas, marking a major step toward expanding access to finance for micro, small, and medium enterprises (MSMEs in post-conflict settings. Under the agreement, Lion International Bank, through its digital finance platform Alegnta, has formally launched a pilot uncollateralized digital lending service
Banking & FinanceThe Development Bank of Ethiopia (DBE) has overhauled its top leadership after a prolonged internal dispute between its board and executive management disrupted decision-making at the state-owned policy bank. Essayas Kassa (PhD) has been appointed president of DBE, while Brook Taye (PhD), chief executive of Ethiopian Investment Holdings (EIH), has been named chair of the
Banking & FinanceThe National Bank of Ethiopia (NBE) has officially launched the nationwide harmonization of all bank accounts with the Faida Digital ID, marking a major milestone in the country’s digital transformation agenda. The initiative is part of the Digital Ethiopia 2030 Strategy, which positions the Faida ID as a core pillar of Ethiopia’s emerging digital public
Banking & FinanceEthiopia has launched the draft National Digital Payment Strategy 2026–30 (NDPS 2.0), signaling a major milestone in the country’s digital finance transformation. The announcement was made today during the Ethiopian Digital Payment Conference 2.0, in the presence of top officials including Deputy Prime Minister Temesgen Tiruneh; National Bank of Ethiopia Governor Eyob Tekalign; AfCFTA Secretary
Banking & FinanceEthiopia aims to complete its debt-restructuring process under the Group of 20 Common Framework by mid-2026, Finance Minister Ahmed Shide announced on Friday during a briefing in Addis Ababa. According to the minister, the government is making “significant progress” in securing agreements with official creditors and continues to engage private lenders as part of a
Banking & FinanceThe Ethiopian Birr has continued its rapid slide against the US Dollar in the National Bank of Ethiopia’s (NBE) foreign exchange auction, marking one of the most significant adjustments since the platform was introduced to support market stability two months ago. In the 11th round of the forex auction held today, the average exchange rate
