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Banking & FinanceIn a historic move to transform the country’s agricultural financing landscape, Ethiopia has officially launched the National Agri-Finance Implementation Roadmap (NAFIR) 2025–2030. The roadmap, a joint initiative by the National Bank of Ethiopia (NBE) and the Ministry of Agriculture (MoA), is set to unlock access to credit for smallholder farmers and strengthen financial inclusion in
Banking & FinanceIn a significant move aimed at easing foreign exchange shortages, the Commercial Bank of Ethiopia (CBE) has approved $121 million in FX requests from the private sector—covering 505 cases, or 81% of total applications submitted in a single day, July 22, 2025. This latest allocation signals the government’s intention to respond to mounting pressure from
Banking & FinanceOne year after launching a sweeping package of macroeconomic reforms, the National Bank of Ethiopia (NBE) says the country is on a promising path to restoring stability, boosting foreign exchange inflows, and modernizing its financial sector. The National Bank of Ethiopia marked the anniversary Tuesday by releasing a detailed review of milestones achieved so far,
Banking & FinanceIn a landmark move that sets a new precedent in Ethiopia’s financial sector, the Bank of Abyssinia has launched a fully paperless banking system across all its branches. The official unveiling took place at the bank’s state-of-the-art Ras Leyu Branch, with prominent figures in attendance, including the Governor of the National Bank of Ethiopia, Ato
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Banking & FinanceHibret Bank’s board of directors has nominated Negusu Gebregziabher as its next president, subject to regulatory approval by the National Bank of Ethiopia (NBE). Negusu, currently a senior advisor to the President of Bank of Abyssinia, is set to take over from Tsigereda Tesfaye, who has served as acting president since August 2024. Her appointment,
Banking & FinanceAbay Bank S.C. has officially launched its 15th Anniversary celebrations, marking a decade and a half of remarkable growth, innovation, and nationwide service in Ethiopia’s banking industry. Speaking at a press event held at the Hyatt Regency Hotel in Addis Ababa, CEO Ato Yehuala Gessesse reflected on the Bank’s journey from its humble beginnings in
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Banking & FinanceAwash Bank and M-PESA have signed a strategic partnership aimed at expanding access to digital credit and savings services in Ethiopia. The agreement kicks off with the launch of “Errif be M-PESA / እርፍ በኤም-ፔሳ,” an overdraft feature that allows customers to complete mobile transactions even when their M-PESA wallet is out of funds. At
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Banking & FinanceHijra Bank has reported a 740% surge in annual profit, earning over 840 million birr during the 2024/25 fiscal year. The bank’s total income exceeded 1.8 billion birr — up 148.85% from the previous year — marking one of the strongest performances in Ethiopia’s growing interest-free banking sector. According to the bank’s annual performance disclosure,
Banking & FinanceEthiopia’s interbank money market continues to demonstrate active liquidity exchanges among financial institutions, with a total of ETB 9.68 billion traded in the week spanning June 30 to July 4, 2025. The latest data reveals a marginal decline in weighted average interest rates, reflecting subtle shifts in the short-term funding dynamics between banks. During the
Banking & FinanceThe African Development Bank (AfDB) has approved a $50 million trade finance guarantee for Awash Bank, Ethiopia’s largest private bank by paid-up capital. The facility aims to ease the strain of foreign currency shortages by covering up to 100% of the non-payment risk on letters of credit issued by the Bank. This backstop reduces the
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Banking & FinanceIn a major step toward stabilizing its public finances, the Ethiopian government has finalized a Memorandum of Understanding (MoU) with its Official Creditor Committee (OCC) under the G20 Common Framework, securing debt relief exceeding USD 3.5 billion. The agreement formalizes a deal reached in principle back in March 2025 and marks the successful end of
Banking & FinanceZemen Bank has reported a remarkable profit of 9 billion birr for the just-concluded financial year, with total revenue reaching 14 billion birr. The bank’s paid-up capital has also surpassed 9 billion birr, signaling a strong capital base and continued growth momentum. CEO Dereje Zebene attributed the performance to the bank’s strategic direction and favorable
