Happy Adwa Victory Day!
Today, we celebrate Ethiopia’s historic triumph at Adwa, a moment that stands as a symbol of resilience, unity, and national pride.
We also wake up to a world on edge, with tensions escalating in the Middle East and markets reacting to geopolitical shocks. Here’s your Monday briefing on what’s happening across Ethiopia and beyond.
Banking & Finance
CBE Noor Surpasses Eight Million Customers
The Commercial Bank of Ethiopia (CBE) announced that its interest-free banking window, CBE Noor, has exceeded eight million customers, twelve years after launching Sharia-compliant services. Deposits mobilized under CBE Noor have reached 266 billion birr, securing more than half of Ethiopia’s Islamic banking market share.
Since its inception, CBE Noor has extended over 210 billion birr in financing, with 98 billion birr currently outstanding. In the first seven months of the fiscal year alone, the unit mobilized 73 billion birr in deposits, 87 percent of which, amounting to 63.3 billion birr, was disbursed to the private sector.
The interest-free banking window offers more than 30 Sharia-compliant products and operates through 1,914 branches nationwide, including 156 dedicated interest-free banking outlets.
NBE to Hold $70 Million Foreign Exchange Auction
The National Bank of Ethiopia (NBE) has scheduled its 20th foreign exchange auction for Tuesday, March 3, offering 70 million US dollars to commercial banks. The central bank reaffirmed its bi-weekly auction framework, which is aimed at supporting price and external stability.
Participating banks must submit bids between 10:00 AM and 12:00 noon, with results to be announced at 3:00 PM and same-day settlement expected. The auction is part of Ethiopia’s broader efforts to manage foreign currency supply pressures and maintain orderly market operations.
NBE Unveils Full Monetary Policy Committee
The NBE also disclosed the full membership of its newly formed Monetary Policy Committee (MPC), formalizing the seven-member body established under revisions to the NBE Establishment Proclamation in early 2025.
The committee is chaired by Governor Eyob Tekalign, with Vice Governor and Chief Economist Fikadu Digafe serving as deputy chair. Two external members have joined the MPC: Jonse Bane, an economist at Addis Ababa University, and Tewodros Mekonnen, Country Manager at the International Growth Centre. Internal members include Woyenshet Zeberga, Chief Market and Operations Officer, Zemzem Ahmed, Director of the Economic Modeling Directorate, and Habtamu Workineh, Director of the Research Directorate.
The inclusion of two non-employees aligns with Article 23 of the proclamation, allowing up to two external experts subject to board approval. The MPC is responsible for analyzing domestic and global economic conditions and submitting monetary policy recommendations to the NBE Board for final decision. Source: Capital Ethiopia
NBE Bans Birr-Paired P2P Crypto Transactions
The NBE issued a public notice prohibiting Birr-denominated peer-to-peer cryptocurrency transactions, unless expressly authorized by the Bank. The directive bars any Birr-paired crypto trading on platforms, exchanges, or similar services under the current regulatory framework.
The central bank cited risks linked to unregulated digital asset markets, including price volatility, fraud and scams, foreign exchange manipulation, operational failures, and weak Anti-Money Laundering and Counter-Terrorism Financing safeguards. It also referred to international cases where P2P platforms restricted users’ access to funds.
The NBE stated it is working toward a comprehensive digital asset regulatory framework in consultation with international regulators and domestic stakeholders, and until such rules are formally introduced, Birr-paired P2P crypto transactions remain prohibited. The Bank reaffirmed its commitment to consumer protection and financial system stability.
Trade & Industry
Nearly 500,000 Businesses Found Operating Illegally
The Ministry of Trade and Regional Integration reported that 482,092 businesses were operating illegally during inspections of 3.17 million companies in the last fiscal year, representing about 15.4 percent of those reviewed.
Authorities also flagged 126 manufacturers for producing substandard goods, with legal action taken against three firms found to be producing harmful products. From 15,480 importers, inspectors reviewed over 3.16 million metric tonnes of goods, identifying 1,504 metric tonnes that failed quality standards. Speaking at the 4th Anti-Illicit Trade Summit organized by the Ethiopian Chamber of Commerce and Sectoral Associations, officials noted a sharp rise in illicit trade.
The estimated value of goods leaving Ethiopia illegally surged from 1.3 billion birr to 8.9 billion birr over five years, while contraband imports rose to 2.74 billion birr by 2023. The Ethiopian Customs Commission reported seizing over 23 billion birr worth of illegal goods last fiscal year, including 13 billion birr in the past six months alone. Source: Birrmetrics
Airlines & Transport
Ethiopian Airlines Cancels Select Middle East Flights
Ethiopian Airlines has suspended several flights to and from the Middle East citing the current security situation in the region. Flights to Amman, Tel Aviv, Dammam, and Beirut have been cancelled until further notice.
The airline said it is closely monitoring developments and may take additional operational measures depending on how conditions evolve. Passengers traveling on affected routes are advised to check flight status via the airline’s official platforms, contact their travel agents, or reach out to Ethiopian Airlines’ Global Customer Interaction Centre before heading to the airport. The carrier has not yet announced a timeline for the resumption of services.
Agriculture & Exports
Ethiopia Earns $288 Million from Horticulture Exports
Ethiopia generated 288.48 million US dollars from horticulture exports during the first seven months of the fiscal year, according to the Ministry of Agriculture. The earnings came from the export of 160,317.79 tons of flowers, fruits, and vegetables, achieving 70.9 percent of the planned target for the period.
Speaking at a sector review meeting, Agriculture Minister Addisu Arega said horticulture remains a priority export alongside coffee due to its foreign exchange contribution. He emphasized government efforts to address infrastructure and operational bottlenecks while urging investors to fully utilize allocated land.
Tewodros Zewdie, Executive Director of the Ethiopian Horticulture Producer Exporters Association, noted that the association is focusing on policy advocacy, capacity building, and market linkages to strengthen sector competitiveness. Stakeholders highlighted logistics, infrastructure, and land management challenges as key areas requiring coordinated action to sustain export growth.
Global Markets & Energy
Oil Surges, Bitcoin Slides as U.S.–Israel Strikes on Iran Rattle Markets
Global markets are bracing for volatility after the United States and Israel launched coordinated strikes across Iran, escalating tensions in the Middle East and raising fears over energy supply disruptions. President Donald Trump confirmed U.S. involvement in what he described as major combat operations targeting Iran’s military infrastructure.
Explosions were reported in Tehran, Isfahan, and Qom, while Iranian authorities warned of retaliation. Traders are pricing in a “war premium” amid concerns over crude flows through the Strait of Hormuz, which carries roughly a fifth of global oil supply. Any disruption to tanker traffic or Gulf infrastructure could tighten supply and push prices higher. Gold and safe-haven currencies are expected to strengthen as investors reduce exposure to risk assets.
Government bonds may see fresh demand, though rising oil prices could complicate inflation expectations. Bitcoin fell toward 63,000 dollars in weekend trading, reflecting a broader risk-off mood. Equity markets are likely to open lower, particularly airlines and transport stocks, while energy and defense shares could benefit from higher crude prices. The scale of Iran’s response and the security of Gulf shipping routes will determine whether this remains a short-lived shock or evolves into a prolonged macroeconomic disruption.
Capital Markets & Leadership
Rahel Kassa Appointed Deputy Director General of ECMA
The Ethiopian Capital Market Authority (ECMA) has appointed Rahel Kassa as its new Deputy Director General. Rahel brings extensive experience in legal policy, institutional reform, and public sector leadership. She most recently served as Legal and Policy Advisor and Gender Equity & Inclusion Lead at the National ID Program of Ethiopia, Fayda.
She previously managed the Support to Criminal Justice Reform project at the Federal Supreme Court of Ethiopia and worked as a researcher with the Ethiopian Investment Commission under the BRIDGES Project. Her earlier roles include Director at the Ministry of Science and Technology and Policy and Legal Researcher at the Ethiopian Technology and Innovation Institute.
Rahel holds a Master’s degree in International Studies in Development Cooperation from Ewha Womans University, an MBA from Leadstar College of Management and Leadership, and an LLB from Debre Markos University. Her appointment comes as ECMA continues strengthening regulatory frameworks and advancing Ethiopia’s emerging capital market.
Technology & Innovation
M-PESA Ethiopia and Gebeya Launch Dala AI Bundle
M-PESA Ethiopia and Gebeya Inc. have announced the launch of the Dala AI Bundle, a subscription service that allows users to access AI creation tools and pay directly through their M-PESA wallets. The bundle removes credit card barriers, giving millions of Ethiopians, from students to merchants, access to AI-powered app development, AI agents, game building, and creative content tools.
The platform supports local languages, including Amharic and Afaan Oromo. Amadou Daffe, CEO of Gebeya, said the initiative empowers Ethiopians to create digital assets and build Africa’s AI future locally. Elsa Muzzolini highlighted the move as a strategic expansion beyond payments, making AI tools accessible as everyday utilities. By embedding AI within mobile money, the Dala AI Bundle aims to lower barriers for innovation, digital entrepreneurship, and broad participation in Ethiopia’s emerging AI economy.
Russian E-Commerce Giant Wildberry to Launch in Ethiopia
Wildberry, the Russian digital commerce giant, announced it will officially launch operations in Ethiopia starting April 2026.
In a meeting with the company, Helen Reta emphasized the need for Ethiopian merchants to adapt to the digital commerce shift and actively participate in the growing online economy. Wildberry expressed its commitment to collaborating with the council to ensure the success of the project, which is expected to advance Ethiopia’s digital commerce landscape.
Founded in 2004, Wildberry operates over 94,000 pickup and delivery locations across 20,000+ cities in countries including Russia, Armenia, Azerbaijan, Belarus, Kazakhstan, the UAE, and Uzbekistan. Source: Capital Ethiopia
Stay tuned for next week’s insights, where we unpack more sectoral trends and policy moves shaping Ethiopia’s future.
Enjoyed this edition? Forward it to your circle or reply with tips and scoops—we’re always listening. Stay curious, stay caffeinated, — Written by the StockMarket.et Newsroom
