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Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of its 17th Foreign Exchange Auction, with the market clearing at a marginal rate of 155.05 birr per US dollar, marking a modest depreciation from the 154.82 birr per US dollar recorded in the previous auction. The central bank allotted USD 70 million out of
Banking & FinanceThe Ethiopian Capital Market Authority (ECMA) has officially approved and registered the securities of Addis International Convention Center S.C., a key development in Ethiopia’s growing capital market ecosystem. This registration ensures compliance with the Public Offer and Trading of Securities Directive No. 1030/2024, supporting the expansion of Ethiopia’s stock market and securities trading framework. Under
Banking & FinanceThe Ethiopian Capital Market Authority (ECMA) has approved and registered the securities of Bank of Abyssinia S.C., marking an important step in aligning the bank with Ethiopia’s emerging capital market regulatory framework. In a public notice issued pursuant to Articles 4 and 29 of the Public Offer and Trading of Securities Directive No. 1030/2024, the
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Banking & FinanceThe National Bank of Ethiopia (NBE) has officially launched the country’s first Automated Interbank Foreign Exchange (FX) Market, marking a major step toward modernizing Ethiopia’s financial system. The new market operates through the Ethiopian Securities Exchange (ESX) using an advanced electronic trading platform. For the first time, commercial banks can trade foreign currency with each
Banking & FinanceBank of Abyssinia (BoA) has crossed a major funding milestone, with total deposits reported to have exceeded 300 billion birr, according to recent market data. The development reflects a sharp increase in deposits during the first half of the 2025/26 fiscal year and signals continued growth in customer balances. At the close of the 2024/25
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Banking & FinanceEthiopia’s Zemen Bank is making headlines as it crosses a major financial milestone: total assets now stand at 106 billion birr, while gross profit for the first half of 2025/26 exceeds 5 billion birr. For investors, this is more than a number—it’s a signal of strong operational performance and growing market confidence. Customer deposits climbed
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced a USD 500 million special foreign exchange auction, marking the largest single FX injection since the central bank began auctioning dollars under its post-reform framework. This move signals an escalation in NBE’s efforts to combat persistent FX shortages amid high import demands. The auction, set for Tuesday,
Banking & FinanceThe Commercial Bank of Ethiopia (CBE) announced that more than 91 percent of the loans it disbursed in the first half of the 2018 Ethiopian fiscal year were directed to the private sector, underscoring a growing policy focus on private-led economic activity amid a challenging macroeconomic environment. Speaking at the bank’s half-year performance review meeting,
Banking & FinanceEthiopia’s financial revolution is not loud. There are no viral founder stories, no overnight unicorns, no dramatic collapses that dominate headlines. Instead, something quieter and more consequential is happening beneath the surface, an invisible contest between old financial power and new digital ambition. On one side stand the banks: heavily regulated, deeply entrenched, and historically
Banking & FinanceThe Commercial Bank of Ethiopia (CBE) today launched CBE Connect, a new digital platform designed to integrate multiple financial services into a single application and enable direct transfers from global banks to Ethiopian fintech wallets. Developed in partnership with local fintech firm StarPay Financial Technologies (Eaglelion Technology Plc), CBE Connect brings together more than seven
Banking & FinanceThe National Bank of Ethiopia (NBE) has announced the results of its 15th Foreign Exchange Auction, held on Tuesday, as part of ongoing efforts to manage liquidity and stabilize the foreign exchange market. According to the central bank, USD 70 million was allotted to commercial banks out of a total bid amount of USD 94.7
Banking & FinanceThe International Monetary Fund (IMF) has approved an immediate disbursement of about USD 261 million to Ethiopia after completing the fourth review of the country’s program under the Extended Credit Facility (ECF). The decision brings total IMF disbursements to Ethiopia to about USD 2.18 billion under the 48-month program, which was approved in July 2024
