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EconomyIn less than a month, Ethiopia is preparing to take a bold leap into one of the most ambitious economic experiments in modern history — the African Continental Free Trade Area (AfCFTA). It’s not just a trade agreement; it’s a gateway into a 1.4 billion–strong marketplace, stitched together by 54 nations with a combined GDP
Capital MarketEthiopian Investment Holdings (EIH), the country’s sovereign wealth fund, has made its first-ever international investment by acquiring a stake in Akobo Minerals AB, a Scandinavian-based Ethiopian gold producer listed on Euronext and Frankfurt Stock Exchange. Under the agreement, EIH will subscribe to 15 million new shares at USD 0.20 each, securing a 7.4% ownership stake
Ethiopia’s Financial Intelligence Service (FIS) has frozen the bank accounts of 138 individuals accused of running illegal foreign currency operations, in the latest move to tighten the noose on the country’s parallel market. The suspects, identified through what the agency calls “ongoing surveillance,” are accused of skirting the formal financial system and moving money outside
Banking & FinanceIn the span of just a few days, Ethiopia’s foreign exchange market went from chaos to crackdown and possibly, a new kind of clarity. By the end of July, the unofficial (parallel) market exchange rate had breached 170 birr per USD, igniting panic among traders, importers, and the diaspora. The National Bank of Ethiopia (NBE)
BusinessIn a year marked by both progress and persistent challenges, Ethiopian Electric Power (EEP) announced that over 33% of the country’s total electricity generation in the 2017 fiscal year came from the Grand Ethiopian Renaissance Dam (GERD), a landmark infrastructure project steadily transforming Ethiopia’s energy landscape. In its annual performance report, EEP revealed that it
Banking & FinanceJust a day after injecting $150 million into the banking system through one of its largest foreign exchange auctions, the National Bank of Ethiopia (NBE) has drawn a new line in the sand. Governor Mamo Mihretu, in a statement on Wednesday, announced a sharpened crackdown on illicit currency flows, signaling the central bank’s commitment to
Banking & FinanceThe National Bank of Ethiopia (NBE) has officially resumed its foreign exchange (FX) auctions after a brief pause, injecting a significant $150 million into the market on August 5, 2025. The move comes as the central bank signals improving foreign exchange inflows and aims to further support Ethiopia’s formal FX market and macroeconomic stability. In
BusinessEthiopia is quietly charging up its role as East Africa’s power bank. In the just-ended 2024/25 fiscal year, Ethiopian Electric Power (EEP) raked in a solid $118.1 million by exporting electricity to its neighbors — Kenya, Djibouti, Sudan, and for the first time, Tanzania. The numbers reveal a bigger story: Ethiopia isn’t just keeping the
Banking & FinanceThe National Bank of Ethiopia (NBE) has issued a stern warning to the Ethiopian diaspora regarding the use of unlicensed money transfer service providers operating outside the country, particularly in the United States. In a press release published today, the central bank urged all members of the Ethiopian community abroad to send funds only through
Banking & FinanceIn a historic move to transform the country’s agricultural financing landscape, Ethiopia has officially launched the National Agri-Finance Implementation Roadmap (NAFIR) 2025–2030. The roadmap, a joint initiative by the National Bank of Ethiopia (NBE) and the Ministry of Agriculture (MoA), is set to unlock access to credit for smallholder farmers and strengthen financial inclusion in
Banking & FinanceIn a significant move aimed at easing foreign exchange shortages, the Commercial Bank of Ethiopia (CBE) has approved $121 million in FX requests from the private sector—covering 505 cases, or 81% of total applications submitted in a single day, July 22, 2025. This latest allocation signals the government’s intention to respond to mounting pressure from
Banking & FinanceOne year after launching a sweeping package of macroeconomic reforms, the National Bank of Ethiopia (NBE) says the country is on a promising path to restoring stability, boosting foreign exchange inflows, and modernizing its financial sector. The National Bank of Ethiopia marked the anniversary Tuesday by releasing a detailed review of milestones achieved so far,
