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Crypto NewsThe National Bank of Ethiopia (NBE) has issued a public notice stating that peer-to-peer (P2P) cryptocurrency transactions denominated in Ethiopian Birr are prohibited unless expressly authorized by the Bank. In its statement released on Thursday, the central bank clarified that the use of Birr-paired P2P arrangements on trading platforms, exchanges, or similar services is not
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
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
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 & 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
BusinessThe 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
EconomyEthiopia and the United Kingdom have reaffirmed their long-standing partnership by signing three major cooperation agreements aimed at supporting economic reforms, strengthening public investment systems, and expanding green energy infrastructure. Prime Minister Abiy Ahmed (PhD) received Rt. Hon. Yvette Cooper, the UK Secretary of State for Foreign, Commonwealth and Development Affairs, where the two sides
EconomyEthiopia’s efforts to restructure its USD 1 billion Eurobond debt have suffered a major setback after its Official Creditors Committee (OCC) rejected an agreement in principle (AIP) reached earlier this month with private bondholders. In a letter addressed to Finance Minister Ahmed Shide, OCC co-chairs Yang Jing and Thomas Revial said the proposed agreement is
