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Banking & FinanceThe National Bank of Ethiopia has announced an extension of operating hours for its Real-Time Gross Settlement (RTGS) system, a key component of the country’s financial infrastructure. In a directive issued on March 17, 2026, the central bank confirmed that the RTGS system under the Ethiopian Automated Transfer System (EATS) will now operate from 8:00
Banking & FinanceEthiopia’s financial system has, in recent years, projected a narrative of resilience, banks expanding, reforms accelerating, and new market institutions taking shape. Yet beneath this progress lies a quieter, more structural weakness: an insurance sector that remains strikingly underdeveloped. With penetration at just 0.3% of GDP, the industry lags far behind the global average of
Ethiopia has spent an estimated $1.35 billion supporting its currency in 2026, underscoring mounting pressure on the birr amid ongoing economic reforms and external imbalances. According to data reported by Bloomberg, the National Bank of Ethiopia (NBE) has stepped up its presence in the foreign exchange market through a series of auctions aimed at stabilizing
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of Foreign Exchange (FX) Auction No. 21, allocating $70 million to commercial banks. The total demand far exceeded the allotment, with bids totaling $241.52 million. The marginal rate for the auction was set at 157.0183 Birr/USD, while the weighted average rate of successful bids stood
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced that it will conduct a $70 million foreign exchange auction on Tuesday, March 17, 2026, as part of its ongoing efforts to stabilize the foreign exchange market. In a notice issued on March 16 in Addis Ababa, the central bank said the auction is part of its
Banking & FinanceKenya’s largest lender, KCB Group, is aiming to enter the Ethiopian banking market before the end of 2026 as part of its broader strategy to expand its regional footprint and boost earnings from operations outside Kenya. The Nairobi-based banking group has been exploring opportunities in Ethiopia following the country’s decision to gradually open its tightly
Banking & FinancePrime Minister Abiy Ahmed (PhD) announced that Ethiopia, along with several other oil‑importing countries, is struggling to secure petroleum supplies on time due to the ongoing crisis in the Middle East. In remarks on Saturday, Dr. Abiy said the conflict has disrupted global oil shipments and stressed that urgent measures are needed to conserve fuel
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of Foreign Exchange Auction No. 20, allotting USD 70 million to commercial banks amid continued strong demand for hard currency. The auction attracted USD 177.12 million in total bids, more than double the amount made available, signaling persistent foreign exchange pressures in the banking system.
Banking & FinanceNational Bank of Ethiopia has announced the results of its second $500 million special foreign exchange auction, with $455.29 million allotted to participating banks. The special auction, held on February 21, 2026, drew participation from 30 commercial banks. Despite the sizeable offering, the auction was undersubscribed by $44.71 million, indicating that total bids fell short
Banking & FinanceDashen Bank S.C. has opened a new share offering to investors following the approval of its prospectus by the Ethiopian Capital Market Authority (ECMA). According to the approved prospectus, prospective investors can purchase newly issued shares by visiting the bank’s head office and opening a trading account with stock brokers or investment banks licensed by
Banking & FinanceThe National Bank of Ethiopia (NBE) has appointed two external members to its Monetary Policy Committee (MPC), a move aimed at strengthening the committee’s analytical depth and enhancing evidence-based policymaking. The appointments were approved by the NBE Board following nomination by the Governor, in line with the amended National Bank of Ethiopia Proclamation. The inclusion
Banking & FinanceThe National Bank of Ethiopia (NBE) set the birr at 155.12 per US dollar in its latest foreign exchange auction, as demand from commercial banks far outstripped supply. In Auction No. 18, the central bank made US$70 million available to the market. However, total bids reached US$145.31 million—more than double the amount on offer, highlighting
