Wednesday, July 9, 2025
  • Login
  • Register
StockMarket.et
Weekly Newsletter
  • News
    • Stock News
    • Business
    • Economy
  • Capital Market
    • Learn Stock Market
  • Crypto
    • Crypto News
    • Learn Crypto
    • Crypto Glossary
  • Tech
  • Regulation
  • Birr FX Rate
  • Publications
  • Tools
    • Stock Market Data
    • Birr FX Rate
  • Biritu l ብሪቱ
  • Data Hub
No Result
View All Result
  • News
    • Stock News
    • Business
    • Economy
  • Capital Market
    • Learn Stock Market
  • Crypto
    • Crypto News
    • Learn Crypto
    • Crypto Glossary
  • Tech
  • Regulation
  • Birr FX Rate
  • Publications
  • Tools
    • Stock Market Data
    • Birr FX Rate
  • Biritu l ብሪቱ
  • Data Hub
No Result
View All Result
StockMarket.et
No Result
View All Result

Ministry of Finance Expands Franco Valuta Importation

StockMarket.et by StockMarket.et
August 19, 2024
in Business
Reading Time: 1 min read
10 1
A A
0
Ministry of Finance Expands Franco Valuta Importation

Ethiopia has broadened the scope of import payments permitted under the franco valuta system, allowing more goods to be imported using foreign currency as the nation grapples with the effects of a sharp depreciation of the birr over the past two weeks.

In a recent letter, the Ministry of Finance instructed customs authorities to permit a wider range of goods to clear ports through franco valuta transactions, which enable direct payment in foreign currencies like the dollar or euro. This is in addition to the traditional letter of credit (LC) system, which relies on the local currency. The only exceptions to this new directive are vehicles, weapons, and intelligence equipment, according to the ministry’s communication.

Related articles

Hijra Bank Posts 740% Profit Surge, Earns Over 1.8 Billion Birr in 2024/25 Fiscal Year

Hijra Bank Posts 740% Profit Surge, Earns Over 1.8 Billion Birr in 2024/25 Fiscal Year

July 4, 2025
AfDB Approves $50M Trade Finance Guarantee for Awash Bank to Support SME Growth

AfDB Approves $50M Trade Finance Guarantee for Awash Bank to Support SME Growth

July 3, 2025

This move is in line with new guidelines from the National Bank of Ethiopia, which aim to increase the use of hard-currency clearance options following the birr’s dramatic plunge—nearly 90 percent—after the currency was controversially floated on July 29.

Under the franco valuta system, importers can pay for goods directly in foreign currency, reducing their reliance on LCs. The government’s objective is to encourage the importation of essential goods to stabilize commodity markets, which have been disrupted by the currency float and ongoing double-digit inflation.

However, customs officials have expressed concerns that the relaxation of hard-currency transaction oversight could potentially facilitate illicit financial flows. In response, regulators are working to enhance compliance checks even as they implement the more flexible franco valuta system.

Source: BirrMetrics

Share14Tweet9Share3Share
StockMarket.et

StockMarket.et

Your Trusted Source for News, Insights, Analysis, and Updates on the Ethiopian Capital Market.

Related Posts

Hijra Bank Posts 740% Profit Surge, Earns Over 1.8 Billion Birr in 2024/25 Fiscal Year

Hijra Bank Posts 740% Profit Surge, Earns Over 1.8 Billion Birr in 2024/25 Fiscal Year

by StockMarket.et
July 4, 2025
0

Hijra Bank has reported a 740% surge in annual profit, earning over 840 million birr during the 2024/25 fiscal year....

AfDB Approves $50M Trade Finance Guarantee for Awash Bank to Support SME Growth

AfDB Approves $50M Trade Finance Guarantee for Awash Bank to Support SME Growth

by StockMarket.et
July 3, 2025
0

The African Development Bank (AfDB) has approved a $50 million trade finance guarantee for Awash Bank, Ethiopia’s largest private bank...

CBE Breaks Record with Over 515 Billion Birr in New Deposits, Total Reaches 1.69 Trillion Birr

CBE Breaks Record with Over 515 Billion Birr in New Deposits, Total Reaches 1.69 Trillion Birr

by StockMarket.et
July 2, 2025
0

The Commercial Bank of Ethiopia (CBE) has reported a major milestone for the 2024/25 fiscal year, mobilizing over 515 billion...

Safaricom Ethiopia Hits 10 Million Active Subscribers

Safaricom Ethiopia Hits 10 Million Active Subscribers

by StockMarket.et
July 1, 2025
0

Safaricom Ethiopia has crossed a major milestone, reaching 10 million active subscribers, four years after acquiring its telecom license. The...

Ethiopia’s Coffee Exports Surge by Over 128,000 Tons, Reaching 20 New Global Markets

Ethiopia’s Coffee Exports Surge by Over 128,000 Tons, Reaching 20 New Global Markets

by StockMarket.et
July 1, 2025
0

Ethiopia’s coffee industry is celebrating a major milestone, with exports soaring to 409,605 tons in the first 11 months of...

Load More
  • Trending
  • Comments
  • Latest
EIH Deputy CEOs on Ethiopian digital lottery inauguration

Ethiopia Launches Its First-Ever Digital Lottery

April 13, 2025
AliExpress Set to Enter Ethiopian Market, Signaling Major Shift in E-Commerce

AliExpress Set to Enter Ethiopian Market, Signaling Major Shift in E-Commerce

August 8, 2024
Prime minister Abiy Ahmed

Ethiopia Launches “Mesob” One-Stop Digital Service Center

April 27, 2025
east african stock exchange

East Africa Launches First Regional Stock Market Index – The EAE 20 Share Index

April 12, 2025
Ethiopia’s Capital Market Authority (ECMA) Launches Three Draft Directives to Strengthen Regulation of Capital Markets

Ethiopia’s Capital Market Authority (ECMA) Launches Three Draft Directives to Strengthen Regulation of Capital Markets

0
Ethiopia Enacts Proclamation to Establish Capital Markets System, Paving the Way for Economic Growth

Ethiopia Enacts Proclamation to Establish Capital Markets System, Paving the Way for Economic Growth

0
What is Cryptocurrency?

What is Cryptocurrency?

0
History and Evolution of Cryptocurrencies

History and Evolution of Cryptocurrencies

0
Hijra Bank Posts 740% Profit Surge, Earns Over 1.8 Billion Birr in 2024/25 Fiscal Year

Hijra Bank Posts 740% Profit Surge, Earns Over 1.8 Billion Birr in 2024/25 Fiscal Year

July 4, 2025
Ethiopia’s Interbank Money Market Sees ETB 9.68 Billion in Weekly Trades as Interest Rates Decline

Ethiopia’s Interbank Money Market Sees ETB 9.68 Billion in Weekly Trades as Interest Rates Decline

July 4, 2025
Ethiopia, World Bank Ink $1 Billion Deal to Support Economic Reform and Inclusive Growth

Ethiopia, World Bank Ink $1 Billion Deal to Support Economic Reform and Inclusive Growth

July 4, 2025
AfDB Approves $50M Trade Finance Guarantee for Awash Bank to Support SME Growth

AfDB Approves $50M Trade Finance Guarantee for Awash Bank to Support SME Growth

July 3, 2025

Empower individuals with the knowledge and tools necessary for successful participation in the Ethiopian Capital Market.

NEWS

  • Markets
  • Business
  • Economy
  • Tech

IN DEPTH

  • Magazine
  • Interview
  • Opinion

EXPLORE

  • Data Hub
  • Biritu I ብሪቱ
  • Newsletter
  • Birr FX rate

Mobile Apps 

StockMarket Weekly

Stockmarket.et covers economy, business, finance and capital market. 

Haile Kenenisa
Haile [email protected]
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Contact Us

© 2025 StockMarket.et by PiSpace

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms bellow to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • Login
  • Sign Up
Forgot Password?
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.
body::-webkit-scrollbar { width: 7px; } body::-webkit-scrollbar-track { border-radius: 10px; background: #f0f0f0; } body::-webkit-scrollbar-thumb { border-radius: 50px; background: #dfdbdb }
No Result
View All Result
  • News
    • Stock News
    • Finance
    • Crypto News
    • Regulation
  • Learn
    • Learn Stock Market
    • Learn Crypto
    • Crypto Glossary
  • Market Data
    • Stock Market Data
  • Business
  • Publications
  • Data Hub
  • Birr FX Rate
  • Biritu l ብሪቱ
  • Contact Us
  • Login
  • Sign Up

© 2025 StockMarket.et by PiSpace.

Weekly Newsletter
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Terms & Conditions and Privacy Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00