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EconomyThe National Bank of Ethiopia (NBE) and the International Finance Corporation (IFC) have signed a Framework for Cooperation to establish Ethiopia’s first dedicated Mortgage Refinance Company, Prime Minister Abiy Ahmed announced. The planned wholesale financial institution will be capitalized at 100 billion birr, with the IFC expected to contribute a minimum of $200 million, according
EconomyThe National Bank of Ethiopia (NBE) has issued a public awareness notice warning customers, members of the Ethiopian diaspora and the general public against using unlicensed money transfer agents and illegal Hawala networks. The central bank said unauthorized remittance operators are prohibited under Ethiopian law and may expose both senders and recipients to significant financial
EconomyThe National Bank of Ethiopia (NBE) has allocated USD 125 million in its 27th foreign exchange auction held on August 26, 2026, as banks competed for foreign currency amid continued efforts to strengthen the country’s foreign exchange market. The auction attracted USD 170.51 million in total bids, with five banks participating. Only two banks were
EconomyEthiopia’s annual inflation rate accelerated to 15.3% in July 2026, rising from 13.9% in June and marking the fourth consecutive month of increases. The latest reading is the highest inflation rate recorded since January 2025. Food inflation also accelerated, reaching 15.7% in July, up from 15.1% a month earlier and its highest level since January
EconomyEthiopia has moved closer to completing the restructuring of its $1 billion Eurobond after its official creditors approved a preliminary agreement between the government and private bondholders, while warning that a new warrant included in the deal could create unequal treatment among creditors. The Official Creditor Committee (OCC), co-chaired by France and China, said the
Banking & FinanceThe National Bank of Ethiopia (NBE) allotted USD 500 million at a Special Foreign Exchange Auction held on Thursday, clearing the market at a marginal rate of 160.2121 Birr per US dollar, 0.79 birr below the cut-off rate recorded at the regular auction eight days earlier. The intervention was four times the size of Foreign
EconomyA U.S. federal judge has cleared the way for the Trump administration to end Temporary Protected Status (TPS) for more than 5,000 Ethiopians living in the United States. U.S. District Judge Brian Murphy in Boston on Tuesday lifted the remaining judicial block on the Department of Homeland Security’s decision to terminate Ethiopia’s TPS designation. The
Deep DiveSomewhere along the way, Ethiopia’s stalled job market became a story about laziness. It’s a familiar narrative, usually aimed at the young and the unemployed. And repeated so often it started to sound intuitive, but does Ethiopia’s labour market actually support it? In this article we’re finding out. The theory goes something like this: the
BusinessKEFI Gold and Copper plc has announced that development activities at its flagship Tulu Kapi Gold Project in Ethiopia are progressing according to schedule, with community resettlement, equipment procurement, and contractor mobilisation moving forward ahead of planned mine construction. The London-listed gold and copper exploration company said the project remains on track to begin commissioning
EconomyA former World Bank president has sharply criticized Ethiopia’s exchange rate reform, arguing that the IMF-backed shift to a market-determined exchange rate has significantly worsened poverty while disproportionately benefiting banks and well-connected firms. The criticism comes from David Malpass, who served as President of the World Bank Group from 2019 to 2023, in Policy Research
EconomyThe National Bank of Ethiopia (NBE) has announced that it will inject USD 500 million into the foreign exchange market during the first quarter of the 2026/27 fiscal year through a series of bi-weekly foreign exchange (FX) auctions. According to a press release issued on July 22, 2026, the central bank will conduct four FX
EconomyEthiopia’s annual inflation rate rose to 13.9% in June 2026, up from 13.4% in May, marking a continued acceleration in consumer prices after inflation had eased to single digits at the end of 2025. The increase was primarily driven by food inflation, which climbed to 15.1%, reflecting persistent increases in the prices of essential food
