Ethiopian Securities Exchange (ESX) has officially listed Awash Bank S.C. on its main market, marking a significant milestone in the development of Ethiopia’s capital markets. The listing was inaugurated with a bell-ringing ceremony at the exchange’s trading floor, positioning Awash Bank among the first financial institutions to debut on the platform. Awash Bank, the largest
The Ethiopian Capital Market Authority (ECMA) said it has approved the registration of securities for Zemen Bank S.C., marking another step in the country’s evolving capital market framework. The regulator confirmed that, as of April 21, it has registered 15 million shares already held by the bank’s existing shareholders. The move is in line with
The National Bank of Ethiopia has extended the deadline for bank customers to link their accounts with the country’s digital identification system, Fayda National Digital ID, citing low completion rates despite earlier efforts. In a statement, the central bank said the initial deadline of March 30 had not achieved the expected level of compliance relative
The Ministry of Finance has issued a new directive allowing investors operating in free trade zones to benefit from income tax exemptions on earnings generated from imported goods they sell. The decision, addressed to the Ministry of Revenue and the Ethiopian Investment Commission, is grounded in Article 12(1) of Council of Ministers Regulation No. 586/2018
Destta, a U.S.-registered fintech company, has officially launched the beta version of its global remittance platform in Ethiopia, positioning itself to capture a growing share of diaspora inflows through formal financial channels. Speaking at the launch event held at Hyatt Regency Addis Ababa, Founder and CEO Dawit Berhanu emphasized the platform’s broad transaction capability, enabling
Dashen Bank has rolled out a major expansion of its digital ecosystem, introducing a virtual card for international payments, a fully digital onboarding system, and a six-million-birr content competition aimed at accelerating adoption of its Super App. The headline launch is the Dashen Virtual Card, developed in partnership with Mastercard. Integrated into the Dashen Super
National Bank of Ethiopia has introduced a set of far-reaching directives reshaping the country’s insurance industry, in a move that signals a decisive shift toward stronger governance, transparency and regulatory oversight. The new rules, issued under Directives SIB/62/2026, SIB/63/2026 and SIB/64/2026, target three critical pillars of the sector: who can own and run insurance companies,
Ethiopia’s banking sector is delivering numbers that would turn heads in any emerging market. A record 93 billion birr in profit, strong capital buffers, and the lowest non-performing loan ratio in five years suggest a system operating at peak performance. But beneath the surface of this success lies a quieter, more consequential risk: complacency. The
The 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
Ethiopia’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
The 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
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