Ethio telecom has inaugurated teleStream, a new internet-based content streaming platform, alongside a fully digital “Zero-Touch” system aimed at modernizing fixed broadband service delivery across Ethiopia. The launch forms part of the company’s broader “Next Horizon: Digital & Beyond 2028” strategy, which focuses on digital inclusion, job creation, and expanding Ethiopia’s footprint in the continental
Ethiopia has fully replaced imported coal previously used by cement, steel, ceramic and other factories with domestically produced supply, according to the Ministry of Mines. The announcement was made during the inauguration of the Arjo Coal Processing Factory by Prime Minister Abiy Ahmed on Thursday. Speaking at the event, Minister of Mines Habtamu Tegegn said
Dashen 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
Tsedey 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
Awash Bank has quietly crossed a milestone that says more about Ethiopia’s financial future than any ribbon-cutting ceremony ever could. Over the past six months, transactions processed through the bank’s digital payment platforms exceeded ETB 1 trillion, a signal that electronic payments are no longer peripheral—they’re becoming core infrastructure. The announcement came as Awash launched
The National Bank of Ethiopia (NBE) has issued a clarification to address confusion surrounding the use of indicative prices set by the Ethiopian Customs Commission for selected import items during foreign exchange (FX) processing. In a public notice released on February 7, the central bank said feedback from banks and market participants showed uncertainty in
Transactions conducted through Ethio Telecom’s Telebirr platform have surpassed 6.88 trillion birr since the service was launched, according to Ethio Telecom CEO Frehiwot Tamiru. Presenting the company’s 2018 fiscal year first-half performance, Frehiwot said Telebirr has delivered strong results, particularly in facilitating digital money transfers and supporting Ethiopia’s Digital Ethiopia agenda. During the first half
The 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
The Council of Ministers of the Federal Democratic Republic of Ethiopia approved a set of major economic and policy reforms aimed at modernizing trade, boosting investment, and strengthening entrepreneurship. At its 52nd regular meeting, the Council unanimously agreed to forward a draft amendment to the Customs Proclamation to the House of People’s Representatives. The amendment
Ethiopia is set to deepen its strategic partnership with global coffee giant Starbucks, following high-level talks aimed at expanding the role of Ethiopian coffee in the company’s global supply chain. Ato Addisu Arega held discussions today with Roberto Vega Alonso, Vice President of Starbucks, focusing on cooperation in coffee development, specialty coffee supply, and global
The 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
For years, rising prices have shaped everyday life in Ethiopia. Each visit to the market meant buying less with the same money. Households adjusted, cut back, and adapted as inflation ate into incomes. Now, the numbers suggest a turning point. In December EFY 2018, Ethiopia’s year-on-year inflation fell to 9.7 percent, down from 17.0 percent
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