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Banking & FinanceThe National Bank of Ethiopia (NBE) announced that it’s yesterday’s June 19, 2025 foreign currency auction resulted in a weighted average exchange rate of 136.6286 Birr per US dollar. A total of $50 million was offered to participating commercial banks during the Thursday morning auction. According to the central bank’s official release later that day,
Banking & FinanceDashen Bank has announced that it has disbursed over 1 billion birr in loans through its MESMER program, a financing initiative aimed at supporting micro, small, and medium enterprises (MSMEs) across Ethiopia. The figure, according to the bank, reflects only the loans issued under the MESMER program and does not include other MSME-related lending. The
In a bold regulatory shake-up, the National Bank of Ethiopia (NBE) has issued a new directive — Licensing and Authorization of Payment Instrument Issuer (Amendment) Directive No. ONPS/10/2025 — aimed at tightening oversight, improving consumer protection, and accelerating interoperability in the country’s digital finance ecosystem. The directive updates and amends the earlier Directive No. ONPS/09/2023,
Banking & FinanceCBE Partners with Addis Ababa City Administration The Commercial Bank of Ethiopia (CBE) has announced a 120 billion Birr financing initiative to tackle housing challenges for government employees, in collaboration with the Addis Ababa City Administration. The agreement was formalized through a memorandum of understanding signed today. Details of the Housing Project The initiative operates
Banking & FinanceNew Measures for Ethiopia’s Foreign Exchange Market The National Bank of Ethiopia (NBE) has announced a series of reforms to the foreign exchange (FX) market, effective May 20, 2025. The measures aim to improve flexibility for importers and travelers while aligning Ethiopia’s FX practices with global standards. Context of the Reforms Since the introduction of
Banking & FinanceEthiopian Investment Holdings (EIH) has achieved a significant milestone by participating in the recent Treasury Bills (T-bills) auction, a move that aligns with the National Bank of Ethiopia’s initiative to broaden access to the T-bills market by including non-bank investors such as institutions and retail participants. The auction marks a pivotal step in Ethiopia’s efforts
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of its fifth foreign exchange auction. According to the official statement, the weighted average rate of all successful bids reached 132.9643 Birr per US Dollar. A total of $60 million was made available through the auction, with 16 banks receiving their requested foreign exchange allocations.
Banking & FinanceWashington is on a diet, and Africa just got told dinner might be delayed. The U.S. government’s proposed FY2026 budget, which includes a $8 billion cut in funding for the State Department and USAID compared to FY2023, is more than just an American fiscal choice. For Africa, where development aid still plays a starring role
Banking & FinanceIn a bold step toward modernizing Ethiopia’s fuel payment system, Oromia Bank has officially launched an innovative integration of its Milki Digital Financing app with the Ministry of Transport and Logistics’ Fuel Aggregator System. This development is expected to significantly ease the burden of fuel payments, supporting the country’s broader digital finance ambitions. The launch
Banking & FinanceEthiopia’s Kifiya Financial Technologies has been named one of the world’s top three innovations in ethical finance at the 7th Ethical Finance Innovation Challenge & Awards (EFICA), hosted by Abu Dhabi Islamic Bank (ADIB) in collaboration with the London Stock Exchange Group. Kifiya’s Halal Gebeya, a Sharia-compliant digital finance marketplace, earned global recognition for its
Banking & FinanceEthiopia’s Council of Ministers held its 44th ordinary meeting and came out swinging with a series of important decisions that touched everything from green economy funding to tariff regulations, air agreements, and even foreigners buying land — yes, that last one raised some eyebrows too. 1. Money Talks: Italy and IDA Loans Get the Green
Banking & FinanceIn a historic first for Ethiopia’s private banking sector, Dashen Bank has teamed up with the African Development Bank (AfDB) to sign a $40 million Trade Finance Guarantee Facility Agreement. That’s not just a long name—it’s a game changer. Held at Dashen’s headquarters in Addis Ababa, the signing marked a major step forward in helping
