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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
Banking & FinanceDashen Bank has entered into a new partnership with the International Finance Corporation (IFC) to expand access to finance for small and medium-sized enterprises (SMEs) in Ethiopia, with a strong focus on agribusinesses and women-led enterprises. Under the agreement, IFC will provide a $10 million unfunded risk-sharing facility, enabling Dashen Bank to extend up to
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the appointment of two senior executives to strengthen its leadership team amid an ongoing period of financial sector reform. Wro. Weynshet Zeberga has been appointed Chief Markets & Operations Officer, while Ato. Robel Tesfaye will serve as the bank’s new Chief Technology Officer, the central bank confirmed
Banking & FinanceThe Government of Ethiopia and the African Development Bank (AfDB) have signed a USD 71.9 million financing agreement to strengthen climate resilience and food security efforts across vulnerable communities. The agreement, signed at the Ministry of Finance, will support the Ethiopian component of the Building Resilience for Food and Livelihoods (BREFOL) program. The AfDB is
Banking & FinanceEthiopia and France have signed a landmark debt restructuring agreement and a new €81.5 million financing package, deepening bilateral ties and reinforcing support for Ethiopia’s ongoing macroeconomic reforms. The agreements were formalized in Addis Ababa by Ethiopia’s Minister of Finance Ahmed Shide and France’s Minister Delegate for Europe and Foreign Affairs, Eléonore Caroit. In a
Banking & FinanceThe National Bank of Ethiopia (NBE) has unveiled sweeping amendments to the country’s foreign exchange framework, introducing forward exchange trading, granting full foreign currency retention for service exporters, and significantly reducing administrative approval requirements in what marks one of the most consequential steps in Ethiopia’s ongoing FX reform. Under Directive No. FXD/04/2026, banks are now
Banking & FinanceTsedey Bank has officially appointed Yohannes Ayalew (PhD) as its new president, marking a major leadership change for the fast-growing commercial bank. Yohannes previously served as Chief Executive Officer of Amhara Bank S.C., where he led a major restructuring program. Under his leadership, the bank moved from losses to a pre-tax profit of 655 million
