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Abyssinia Bank has officially launched a fully paperless banking service at its Ras Premium Branch. The new system was inaugurated on Saturday at a ceremony attended by key stakeholders, including the Governor of the National Bank of Ethiopia, Ato Mamo Mehret, who praised the initiative as a promising step forward in enhancing financial services through …

Ethiopia: Abyssinia Bank Launches Fully Paperless Banking Service Read More »

Rajeev Sharma, an Indian investor and long-time resident of Ethiopia, has expressed strong confidence in Ethiopia’s economic resilience, ongoing growth, and future potential, urging global investors to seize the country’s emerging opportunities. As General Manager of Anmol Products Ethiopia PLC, Sharma recalled that his company began investing in Ethiopia in 2007 with an initial capital …

Indian Investor Urges Global Investors to Seize Emerging Business Opportunities in Ethiopia Read More »

An executive from Ethiopian Airlines, Africa’s leading carrier and one of the fastest-growing global airline brands, has described the airline’s new cargo route to Urumqi as a pivotal freight corridor enhancing connectivity between Africa and Asia. Dereje Derero, Managing Director of Cargo and Logistics Services at Ethiopian Airlines, said the company is proud to add …

Ethiopian Airlines’ Urumqi link becomes key cargo corridor between Africa and Asia Read More »

 Türkiye has become Ethiopia’s second-largest foreign investor, contributing nearly 2.5 billion USD spanning from textiles, agribusiness to digital infrastructure, Ethiopian Investment Commissioner Zeleke Temesgen said. As a result, tens of thousands of jobs have been created by the over 260 Turkish companies, he added. The commissioner revealed the above in his speech at the 8th …

Türkiye emerges as Ethiopia’s second-largest foreign investor Read More »

Ethio Telecom announced that it earned Birr 162 billion in revenue during the 2024/25 Ethiopian fiscal year, marking a significant milestone in its ongoing digital transformation efforts. CEO Frehiwot Tamiru released the company’s annual performance report along with a summary of its three-year growth strategy to the media. She stated that the revenue was generated …

Ethiopia: Ethio Telecom Reports Birr 162 Billion Revenue in 2024/25 Fiscal Year Read More »

The Ethiopian government plans to raise Birr 171 billion through biweekly Treasury bill (T-bill) auctions in the first quarter of the new budget year, marking a shift from relying on direct central bank advances to market-based financing. According to Finance Minister Ahmed Shide, the government will use tax revenues and T-bills as the main sources …

Ethiopia Plans to Raise Birr 171 Billion Through T-Bill Auctions to Cover Budget Deficit Read More »

SanuPay, a Kenyan fintech company, in partnership with global payment software provider OpenWay, has launched Ethiopia’s first domestic credit card. This milestone marks a major advancement in the country’s financial sector as it moves toward modernized payment solutions. The new domestic credit card system will issue approximately four million debit and prepaid cards, alongside around …

SanuPay Launches Ethiopia’s First Domestic Credit Card Powered by OpenWay Read More »

Ethiopian Airlines today launched a new flight route to Abu Dhabi, the capital of the United Arab Emirates, further enhancing its Middle East connectivity. The new route would unlock stunning networks for Ethiopian Airlines, giving passengers seamless connections across Africa, the Middle East and Asia. During the launching event, Ethiopian Airlines Group CEO, Mesfin Tasew …

Ethiopian Airlines Launches New Flight Route to Abu Dhabi Read More »

Wegagen Capital Investment Bank has executed the first inter-broker trades of Government Treasury Bills and listed securities on the Ethiopian Securities Exchange (ESX). The trades took place as part of the official listing ceremony for Government T-bills and the start of trading operations, held on July 11, 2025, at the Sheraton Addis Hotel. As one …

Ethiopia: Wegagen Capital Facilitates First Inter-Broker Trades on ESX Read More »

The National Bank of Ethiopia (NBE) has marked the first anniversary of its Open Market Operations (OMO) auctions, reporting a record trade of Birr 579.4 billion over the past year. Introduced in early July last year under a new monetary policy framework, the biweekly auctions have become a key tool for managing liquidity and controlling inflation, …

Ethiopia: NBE Marks First Year of Open Market Operations with Record Liquidity Trade Read More »