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Banking & FinanceEthiopia has officially begun restructuring talks with investors holding its $1 billion international bond, according to a source familiar with the process who spoke to Reuters on Monday. The discussions are being held in Paris, the source said, confirming an earlier Bloomberg report. An official from Ethiopia’s Ministry of Finance also confirmed that a government
Banking & FinanceEthiopia’s central bank kept its benchmark interest rate unchanged and modestly raised its credit growth target after a policy review that pointed to easing inflation but lingering risks. The Monetary Policy Committee (MPC) of the National Bank of Ethiopia (NBE), meeting on Sept. 25, said it would maintain the National Bank Rate at 15% and
The Ethiopian Commodity Exchange (ECX) has fully implemented an online trading system, allowing market participants to trade agricultural commodities remotely for the first time, officials said. The digital platform, introduced in April, enables traders to buy and sell from any location without physical contact. ECX says the system is designed to improve efficiency, transparency, and
Banking & FinanceEthiopia’s interbank money market has surpassed 1 trillion birr (ETB) in total transaction volume less than a year after its launch, marking a major step in efforts to modernize the country’s tightly controlled financial system. The platform, launched in October 2024 and operated by the Ethiopian Securities Exchange (ESX), allows commercial banks to borrow and
Banking & FinanceWomen in Ethiopia are still struggling to access finance, facing higher rejection rates and smaller loans than men. They are also underrepresented in the fast-growing digital payments sector, where they make up just 22% of users. The National Bank of Ethiopia (NBE), with backing from the World Bank’s Africa Gender Innovation Lab, has rolled out
Banking & FinanceSiinqee Bank S.C. has officially started issuing Mastercard-branded prepaid cards in Ethiopia, expanding access to digital payments and promoting financial inclusion. The launch is powered by Premier Switch Solutions (PSS), a leading local payment technology provider. This move is a major milestone in Ethiopia’s financial sector. Siinqee Bank is now the first financial institution outside
Banking & FinanceCooperative Bank of Oromia (Coop Bank) has been named Sustainable SME Financier of the Year at the Global SME Finance Forum 2025, held in Johannesburg, South Africa. The recognition underscores Coop Bank’s pioneering role in expanding access to finance for micro, small, and medium enterprises (MSMEs) in Ethiopia through its Michu Digital Lending Platform. By
Banking & FinanceThe International Finance Corporation (IFC) said on Monday it has issued a $10 million equivalent loan in Ethiopian birr to VisionFund Microfinance Institution, marking its first local currency loan to Ethiopia’s financial sector. The financing is the first tranche of a planned $30 million equivalent commitment, with $20 million to come from IFC’s own account
Banking & FinanceEthiopia has completed the Grand Ethiopian Renaissance Dam (GERD), the largest hydroelectric project in Africa, financed almost entirely through domestic resources in what is widely regarded as a historic national achievement. According to official figures, the Commercial Bank of Ethiopia (CBE) covered 91 percent of the financing, making it the cornerstone of the project’s funding
Banking & FinanceEthiopia’s Treasury Bill (T-Bill) market displayed remarkable strength and resilience during July and August 2025, according to the inaugural Monthly Domestic Debt Bulletin released by the Ministry of Finance’s Debt Management Division. The period was marked by strong issuance activity, overwhelming investor interest, and subscription levels that underscore growing confidence in the government’s domestic debt
Banking & FinanceMamo Mihretu, the reformist Governor of the National Bank of Ethiopia (NBE), has stepped down after two and a half years in office. His resignation, announced on Tuesday, came as a surprise to many inside Ethiopia’s financial sector. Mamo said he was leaving public service “to pursue other passions and tackle other challenges.” But his
Banking & FinanceA delegation led by Ato Abe Sano, President of the Commercial Bank of Ethiopia (CBE), has arrived in Dubai for a series of strategic consultations with the Ethiopian diaspora and international financial institutions. During his visit, Ato Abe Sano emphasized the importance of engaging the diaspora community in Ethiopia’s ongoing economic transformation. “Despite the large
