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Banking & FinanceEthiopia’s Zemen Bank is making headlines as it crosses a major financial milestone: total assets now stand at 106 billion birr, while gross profit for the first half of 2025/26 exceeds 5 billion birr. For investors, this is more than a number—it’s a signal of strong operational performance and growing market confidence. Customer deposits climbed
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced a USD 500 million special foreign exchange auction, marking the largest single FX injection since the central bank began auctioning dollars under its post-reform framework. This move signals an escalation in NBE’s efforts to combat persistent FX shortages amid high import demands. The auction, set for Tuesday,
The Commercial Bank of Ethiopia (CBE) announced that more than 91 percent of the loans it disbursed in the first half of the 2018 Ethiopian fiscal year were directed to the private sector, underscoring a growing policy focus on private-led economic activity amid a challenging macroeconomic environment. Speaking at the bank’s half-year performance review meeting,
Banking & FinanceEthiopia’s financial revolution is not loud. There are no viral founder stories, no overnight unicorns, no dramatic collapses that dominate headlines. Instead, something quieter and more consequential is happening beneath the surface, an invisible contest between old financial power and new digital ambition. On one side stand the banks: heavily regulated, deeply entrenched, and historically
Banking & FinanceThe Commercial Bank of Ethiopia (CBE) today launched CBE Connect, a new digital platform designed to integrate multiple financial services into a single application and enable direct transfers from global banks to Ethiopian fintech wallets. Developed in partnership with local fintech firm StarPay Financial Technologies (Eaglelion Technology Plc), CBE Connect brings together more than seven
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of its 15th Foreign Exchange Auction, held on Tuesday, as part of ongoing efforts to manage liquidity and stabilize the foreign exchange market. According to the central bank, USD 70 million was allotted to commercial banks out of a total bid amount of USD 94.7
Banking & FinanceThe International Monetary Fund (IMF) has approved an immediate disbursement of about USD 261 million to Ethiopia after completing the fourth review of the country’s program under the Extended Credit Facility (ECF). The decision brings total IMF disbursements to Ethiopia to about USD 2.18 billion under the 48-month program, which was approved in July 2024
Banking & FinanceThe Cooperative Bank of Oromia (Coopbank) has reported robust financial performance in the first half of the 2025/26 fiscal year, underlining its growing role in foreign exchange mobilization, lending, and digital payments. The bank generated foreign currency inflows amounting to USD 303.36 million over the six-month period. The strong inflow reflects Coopbank’s continued emphasis on
Banking & FinanceThe National Bank of Ethiopia (NBE) has officially lifted its long-standing grip on interest rates, allowing banks to price money based on market forces for the first time in decades. The shift comes through the Interest Rates (As Amended) Directive No. NBE/INT/13/2026, signed by Governor Eyob Tekalign (PhD) and effective January 9, 2026. In simple
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of Foreign Exchange Auction No. 14, held today in Addis Ababa. According to the central bank, the weighted average exchange rate of successful bids stood at Birr 154.8729 per US dollar, reflecting prevailing market conditions under Ethiopia’s ongoing foreign exchange reform framework. A total of
Banking & FinanceCommercial Bank of Ethiopia (CBE) has surpassed a major financial milestone, with its total deposits exceeding 2 trillion birr, driven by strong deposit mobilization in the first half of the 2025/26 fiscal year. The state-owned bank collected more than 325 billion birr in deposits during the first six months of the fiscal year alone, according
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced a major reform of its reserve requirement regime, issuing Directive No. SBB/97/2025, as part of broader efforts to modernize monetary policy and deepen the interbank money market. The new directive, which replaces the 2022 framework, applies to all commercial banks operating in Ethiopia and will take effect
