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Banking & FinanceAmhara Bank has reported a pre-tax profit of 655 million birr for the 2017 fiscal year, marking an 85% increase compared to the previous year. The announcement was made during the bank’s 4th Annual General Meeting of Shareholders held today. Chief Executive Officer Dr. Yohannes Ayalew said the bank’s total assets climbed to 43.4 billion
Banking & FinanceThe National Bank of Ethiopia (NBE) has officially re-licensed Standard Bank’s Representative Office, marking the first such approval under the country’s newly revised Banking Business Proclamation. Under the updated regulations, NBE now oversees the licensing and supervision of foreign bank representative offices (REPOs), a responsibility previously handled by the Ministry of Trade and Regional Integration.
Banking & FinanceEthiopian authorities have arrested 24 people connected to sports-betting companies that are accused of hiding more than 100 billion birr in government revenue, according to the National Intelligence and Security Service (NISS). NISS said it had been watching betting companies and payment providers, including fintech and aggregator firms, over suspected illegal activities. Investigators found that
Banking & FinanceAwash Bank has signed a new strategic partnership with Mastercard to help strengthen Ethiopia’s digital economy. The deal is expected to speed up the use of modern digital payment systems across the country. Through this collaboration, Awash Bank will use Mastercard’s global technology and experience, while Mastercard will benefit from Awash Bank’s strong local presence
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Banking & FinanceZemen Bank has secured a total of USD 85 million in trade finance from two international partners: the African Export–Import Bank (Afreximbank) and the Trade and Development Bank (TDB). This funding will help the bank better support import and export activities in Ethiopia. It will also improve access to foreign currency for important sectors of
Banking & FinanceEthSwitch, Ethiopia’s national payment switch, has signed a new partnership with Mastercard that will let Ethiopian banks issue prepaid cards that work worldwide. The deal will also allow Ethiopian businesses to accept international payments for the first time. The agreement was signed on Monday at the Sheraton Addis hotel. Through this partnership, EthSwitch will connect
Banking & FinanceBuna Bank S.A. has reported its strongest financial performance to date, posting a record profit and surpassing key regulatory requirements during the 2024/25 financial year. At its 16th Ordinary and 7th Extraordinary Annual General Meeting held on November 13, 2025, Board Chairman Mulugeta Asmare told shareholders that the bank earned a profit before tax of
Banking & FinanceThe National Bank of Ethiopia (NBE) on Saturday launched the country’s first full Central Securities Depository (CSD) and introduced a new digital investor platform called Ts’ega, in a move aimed at modernising Ethiopia’s financial market infrastructure. The new CSD system will store and manage securities electronically, replacing manual processes and reducing the risk of errors.
Banking & FinanceThe Commercial Bank of Ethiopia (CBE) has announced that its interest-free banking division, CBE Noor, has been named Best Interest-Free Banking Service in East Africa at the 11th International Islamic Retail Banking Awards. The award was presented today in Karachi, recognizing CBE Noor’s strong commitment to expanding access to interest-free banking services across Ethiopia. The
Banking & FinanceThe National Bank of Ethiopia (NBE) has released its official foreign exchange auction schedule for the remainder of the fiscal year, unveiling a total allocation of USD 520 million for upcoming auctions. According to the statement, USD 420 million has been designated for the third quarter of FY 2025/26, while an additional USD 100 million
Banking & FinanceAwash Bank, in partnership with Ethio Telecom, has officially launched Tila, a new digital microfinance and savings service, along with a smart-device financing program through Telebirr. The services, unveiled today, aim to expand access to credit and digital financial solutions for both urban and rural communities across Ethiopia. The Tila platform introduces fast, accessible, and
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Banking & FinanceEthiopia’s Capital Market Authority (ECMA) has granted a Capital Market Service Provider licence to Awash Capital Investment Bank S.C., allowing it to operate as an investment bank within the Awash banking group, the regulator said on Wednesday. The approval includes licences for four appointed representatives and the endorsement of five board directors at Awash Capital,
