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Banking & FinanceNational Bank of Ethiopia (NBE) has officially authorized all licensed commercial banks to issue export permits for goods destined for the People’s Republic of China. The landmark decision, announced via a public notice today, May 26, 2026, removes a long-standing restriction that previously required all China-bound export permits to be processed exclusively through the Commercial
Banking & FinanceThe National Bank of Ethiopia has announced a fresh set of foreign exchange (FX) reforms aimed at improving trade efficiency, reducing administrative bottlenecks, and aligning the country’s financial system with international best practices. In a public notice issued on 25 May 2026, the central bank said the latest amendments to FX Directive FXD/01/2024 are part
The National Bank of Ethiopia has announced the results of its latest Special Foreign Exchange Auction held on May 19, 2026, allocating USD 500 million to participating banks as part of ongoing efforts to stabilize the country’s foreign exchange market. According to the central bank, total bids submitted by commercial banks reached USD 1.06 billion,
BusinessAliko Dangote visited the construction site of a fertiliser plant in Gode, in Ethiopia’s Somali region, this weekend alongside Prime Minister Abiy Ahmed, and used the occasion to announce a significant expansion of his group’s commitment to the country. The Dangote Group’s total investment in Ethiopia has now risen from $2.5 billion to more than
EconomyAddis Ababa has started to feel like two cities stacked on top of each other. One runs on dollars, generators, imported marble, Telegram property listings, and rooftop gyms. The other runs on delayed salaries, rising transport fares, smaller grocery portions, and quiet panic every time the exchange rate moves again. In Bole, the lifts work.
EconomyEthiopia’s inflation rate climbed back into double digits in April 2026, underscoring renewed pressure on household budgets as rising food and fuel prices combined with global supply disruptions to test the country’s recent progress in stabilizing prices. Headline inflation rose to 11.7 percent in April, up from 9.4 percent in March, according to the latest
BusinessFuel prices across Ethiopia have been revised upward following a new adjustment linked to global oil market trends, according to information confirmed by Tikvah Ethiopia and fuel station operators. Under the updated pricing structure, white diesel is now retailing at 180.46 birr per liter, while gasoline has risen to 167.50 birr per liter. The changes
EconomyThe Ministry of Finance Ethiopia has announced a decision to restore the country’s daily diesel supply to 9 million liters, returning to levels maintained before disruptions caused by the Middle East conflict. The announcement was made by Finance Minister Ahmed Shide, who noted that the war in the Middle East had led to a surge
BusinessMinistry of Revenue has announced that it collected 1.1 trillion birr in tax revenue over the first nine months of the current fiscal year, highlighting strong performance while acknowledging persistent structural challenges in the country’s tax system. The announcement was made during a high-level forum organized by the Ministry to review progress on its nine-month
EconomyEthiopia’s Council of Ministers has approved draft proclamations for two major loan agreements totaling €190 million, aimed at supporting the country’s economic reform agenda and expanding access to microfinance. In its 54th ordinary meeting, the Council endorsed an €80 million loan from the French Development Agency to support the National Economic Reform Plan, alongside a
EconomyThe Democratic Republic of Congo is projected to surpass Ethiopia to become sub-Saharan Africa’s fifth-largest economy in 2026, according to the International Monetary Fund. IMF estimates place Congo’s gross domestic product (GDP) at $123 billion, slightly ahead of Ethiopia’s projected $122 billion. South Africa is expected to remain the region’s largest economy, followed by Nigeria,
Banking & FinanceThe 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
