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Banking & FinanceThe Commercial Bank of Ethiopia (CBE) has reported a major milestone for the 2024/25 fiscal year, mobilizing over 515 billion birr in new deposits, bringing its total deposits to 1.69 trillion birr — a historic achievement in the bank’s history and a strong indicator of public confidence in the institution. Compared to the previous fiscal
Banking & FinanceAwash Bank has reported a stellar performance for the 2024/25 financial year, recording a pre-tax profit of over 22 billion birr, the highest in its history. This impressive growth comes as the bank aligned its operations with Ethiopia’s ongoing macroeconomic reforms, leading to strong results across all major performance indicators. Awash Bank’s total income skyrocketed
Banking & FinanceThe Monetary Policy Committee (MPC) of the National Bank of Ethiopia (NBE) held its third meeting on June 23, 2017, to review the country’s economic outlook and set monetary policy directions. The Committee, responsible for ensuring price stability and guiding Ethiopia’s financial system, analyzed recent trends in inflation, economic growth, financial markets, fiscal policy, and
Banking & FinanceIn a landmark move signaling a new era for Ethiopia’s financial sector, the National Bank of Ethiopia (NBE) has officially opened the country’s banking industry to foreign participation. The central bank announced today the issuance of Directive No. SBB/94/2025, titled “Requirements for Licensing and Renewal of Banking Business and Representative Office Directive.” The directive provides
Banking & FinanceThey were the new kids on the block just three years ago. Now, they’re ringing the bell at the Ethiopian Securities Exchange (ESX). Gadaa Bank officially became the second bank to list on the ESX, following Wegagen Bank’s debut earlier this year. With 1.23 million ordinary shares hitting the trading board, Gadaa’s move is more
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Banking & FinanceThe National Bank of Ethiopia (NBE) announced that it’s yesterday’s June 19, 2025 foreign currency auction resulted in a weighted average exchange rate of 136.6286 Birr per US dollar. A total of $50 million was offered to participating commercial banks during the Thursday morning auction. According to the central bank’s official release later that day,
Banking & FinanceDashen Bank has announced that it has disbursed over 1 billion birr in loans through its MESMER program, a financing initiative aimed at supporting micro, small, and medium enterprises (MSMEs) across Ethiopia. The figure, according to the bank, reflects only the loans issued under the MESMER program and does not include other MSME-related lending. The
Banking & FinanceIn a bold regulatory shake-up, the National Bank of Ethiopia (NBE) has issued a new directive — Licensing and Authorization of Payment Instrument Issuer (Amendment) Directive No. ONPS/10/2025 — aimed at tightening oversight, improving consumer protection, and accelerating interoperability in the country’s digital finance ecosystem. The directive updates and amends the earlier Directive No. ONPS/09/2023,
Banking & FinanceCBE Partners with Addis Ababa City Administration The Commercial Bank of Ethiopia (CBE) has announced a 120 billion Birr financing initiative to tackle housing challenges for government employees, in collaboration with the Addis Ababa City Administration. The agreement was formalized through a memorandum of understanding signed today. Details of the Housing Project The initiative operates
Banking & FinanceNew Measures for Ethiopia’s Foreign Exchange Market The National Bank of Ethiopia (NBE) has announced a series of reforms to the foreign exchange (FX) market, effective May 20, 2025. The measures aim to improve flexibility for importers and travelers while aligning Ethiopia’s FX practices with global standards. Context of the Reforms Since the introduction of
Banking & FinanceEthiopian Investment Holdings (EIH) has achieved a significant milestone by participating in the recent Treasury Bills (T-bills) auction, a move that aligns with the National Bank of Ethiopia’s initiative to broaden access to the T-bills market by including non-bank investors such as institutions and retail participants. The auction marks a pivotal step in Ethiopia’s efforts
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of its fifth foreign exchange auction. According to the official statement, the weighted average rate of all successful bids reached 132.9643 Birr per US Dollar. A total of $60 million was made available through the auction, with 16 banks receiving their requested foreign exchange allocations.
