CBE Adjusts Loan Interest Rates to Ensure Sustainability
The Commercial Bank of Ethiopia (CBE) has announced adjustments to its loan interest rates, effective March 7, 2025, as part of its ongoing transformation and the government’s market-oriented policies.Key changes include reductions in agricultural loan rates (short-term: 11.5%, medium-term: 12%, long-term: 12.5%) and unchanged rates for residential condominium loans (40/60: 7.5%, 20/80: 8.5%, 10/90: 9.5%). Meanwhile, commercial, microfinance, and export-related loan rates have increased. Read here
GlobeDock Academy: Leading Ethiopia’s EdTech Revolution
GlobeDock Academy is transforming digital education in Ethiopia, growing its user base by 85% in under a year. With 185K YouTube subscribers and 42K+ registered users, it offers AI-powered learning for grades 4-12.Selected for the Mastercard Foundation EdTech Fellowship, it secured $60K funding, mentorship, and key partnerships, including with the Ministry of Innovation and Technology. GlobeDock’s Learning Loop channel now features 450+ educational videos, and its app provides interactive learning tools. Read here
Ethiopia Expands Cargo Fleet to Boost Trade
Ethiopia is strengthening its maritime transport with six new cargo ships, enhancing trade efficiency and reducing reliance on foreign shipping. Two Ultramax dry bulk carriers (62,000-ton capacity each) have already been acquired, alongside a container ship (3,000–4,000 container capacity).
This expansion supports Ethiopia’s logistics modernization, lowering costs and improving import-export operations. Currently operating 10 cargo ships, the country aims to strengthen its fleet further, supporting industrialization and economic growth.
With ongoing infrastructure investments, Ethiopia is positioning itself for a more self-reliant, cost-effective logistics system to enhance global trade competitiveness. Read here
Addis International Convention Center
The newly completed Addis International Convention Center (AICC), a 28 billion ETB landmark in Addis Ababa, is set to position Ethiopia as a top destination for global conferences and trade events. Funded largely by shareholders, the facility will drive tourism, business, and job creation.
AICC features two grand halls (3,000–4,000 capacity each), eight meeting rooms, luxury hotels, exhibition grounds for 50,000 visitors, and premium retail spaces. Strategically located near Lemi Park, it has already secured bookings for major international events.
With world-class infrastructure, AICC strengthens Ethiopia’s role in Africa’s MICE industry, boosting economic growth and global engagement. Read here
National Business Portal Expands to Three More Cities
The Ministry of Innovation and Technology has announced the successful expansion of the Ethiopian National Business Portal (NBP) to three additional cities—Adama, Bahir Dar, and Dire Dawa. This expansion enables these city administrations to offer online government services, including the issuance of construction permits.
The NBP serves as a centralized platform for accessing multiple government e-services, integrating various agencies to streamline service delivery. Initially launched in 2019, the portal was previously limited to the Addis Ababa City Administration.
With improvements in service efficiency, the Ministry, supported by the European Union, has extended the platform to other regions, aiming to enhance Ethiopia’s business environment by digitizing government services. Capital Ethiopia
Selecta Group Exits Ethiopia Amid Political Unrest
Switzerland-based Selecta Group has announced the relocation of its production center from Kunzila, northern Ethiopia, to Kenya and Uganda due to ongoing political instability and security concerns.
The company cited worker safety and logistical challenges as key reasons for the decision. CEO Ansgar Klemm described the move as a “painful step,” acknowledging that the company’s significant investment and efforts in Ethiopia had ultimately been unfulfilled.
The withdrawal will result in the loss of over 1,000 jobs in Kunzila, impacting approximately 10,000 people who depended on the company’s operations. Selecta Group had been a major economic contributor to the region, making its exit a significant setback for the local community.
The company has strengthened its production centers in Kenya and Uganda to maintain an uninterrupted supply chain. However, Selecta Group has expressed hope of returning to Ethiopia once conditions stabilize.
Recognized as a leading global producer of flowers and ornamental plants, Selecta Group’s departure underscores the challenges businesses face in Ethiopia’s evolving political and economic landscape. Capital Ethiopia
Driving Innovation in Healthcare: Digital Payments Pilot Launched
The Ministry of Health has partnered with leading banks and fintech companies to launch a pilot program for digital payments in the healthcare sector. This initiative marks a crucial step in advancing Ethiopia’s payment ecosystem, aligning with the National Digital Payments Strategy (NDPS) 2021–2024.
By integrating financial institutions and technology providers, the program aims to enhance the accessibility and efficiency of healthcare services. A seamless digital payment system will not only streamline transactions but also lay the foundation for more advanced digital health solutions.
Ethiopia Expands Digital Health Payments
The Ministry of Health has signed agreements with eight digital financial service providers to integrate digital payments into the healthcare system. Supported by the Finance Ministry, the National Bank of Ethiopia, and the Better Than Cash Alliance, this initiative is a key step in Ethiopia’s national digital health strategy.
The partnership includes telebirr, M-Pesa, and major banks like the Commercial Bank of Ethiopia and Oromia Bank. The goal is to enable digital transactions in all public hospitals and eventually expand to health centers.
Health Minister Mekdes Daba (M.D.) emphasized that digitization will improve transparency, accountability, and efficiency in healthcare services. Industry leaders also see potential for broader innovations, such as Enterprise Resource Planning (ERP) systems for streamlined medical records.
This initiative is part of Ethiopia’s Digital Health Blueprint, which aims to enhance healthcare through technology-driven solutions, including remote healthcare and seamless data exchange. Read here
Cooperative Bank of Oromia Celebrates 20 Years
Marking two decades of growth, the Cooperative Bank of Oromia now serves over 14.5 million customers with innovative banking solutions. It has disbursed ETB 18.4 billion in digital loans and processed ETB 2.6 trillion through Kopay e-Birr, ranking third in Ethiopia’s digital finance sector. Ethiopian Business Review
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