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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
Banking & FinanceThe National Bank of Ethiopia (NBE) has renewed its warning against the use of unlicensed money transfer agencies, stressing that both illegal operators and recipients inside the country face legal action. In a press release issued on December 29, 2025, the central bank said unauthorized money transfer services not only violate Ethiopian law but also
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced a USD 150 million special end-of-year foreign exchange auction, marking the first time such a large FX amount has been released since October 14. The auction, scheduled for Saturday, December 27, 2025, comes in addition to NBE’s regular bi-weekly FX auctions and is aligned with the central
Banking & FinanceDashen Bank has reported a strong financial performance for the completed fiscal year 2017, registering a record total income of Birr 31.4 billion. The figure represents a 34 percent increase compared to the previous fiscal year, underscoring the bank’s continued growth momentum. According to the bank’s annual performance report, total assets rose sharply to over
Banking & FinanceEthiopia’s birr has ranked as the third-weakest currency globally in 2025, trailing only the Argentine peso and the Turkish lira, underscoring the depth of the country’s ongoing macroeconomic and debt-related challenges. The birr has depreciated by more than 15% against the U.S. dollar this year, weighed down by persistent dollar shortages, elevated inflationary pressures, and
Banking & FinanceThe Commercial Bank of Ethiopia (CBE) has signed a 27.8 billion birr loan agreement with Ethiopian Airlines to finance the construction of housing for the airline’s employees. The agreement aims to provide a long-term solution to the housing needs of Ethiopian Airlines staff while ensuring the availability of adequate financial resources for the large-scale construction
Banking & FinanceAt Friendship Park in Addis Ababa, Ethiopia’s digital finance story entered a new era as EthSwitch officially unveiled EthioPay, a national brand set to redefine how money moves across the country. The launch, attended by senior government officials, financial sector leaders, and key ecosystem players, marked more than the introduction of a new name. It
