The Ethiopian Capital Market Authority (ECMA) is to introduce a regulatory sandbox in two weeks, opening the door for financial technologies with disruptive business models. Currently not supported by existing regulations and operating in a controlled environment with temporary licenses, the Authority is expected to allow security brokers, dealers, investment banks, and other capital market …
An International Tourism, Culture, and Trade Show aimed at promoting Ethiopian agricultural products will take place in Abu Dhabi from November 1 to 3, 2024. Organized by Gold Land Trading in collaboration with the Ethiopian Embassy in Dubai, the event seeks to connect Ethiopia’s agricultural goods to global markets while highlighting the nation’s rich cultural …
Ethiopia secured USD 140 million from energy exports in the recently concluded Ethiopian fiscal year, marking a 16 percent increase from the previous year. A 17 percent increase was registered in domestic energy demand compared to last year. In a press briefing on the annual performance, the CEO of Ethiopian Electric Power (EEP) Ashebir Balcha …
Ethiopia Achieves USD 140 Million in Energy Export Revenue Read More »
Wegagen Bank, in collaboration with Visa Inc., has launched its International Prepaid Visa Card service, allowing customers, embassy staff, and international organization employees to make global payments without carrying cash. The launch event took place at the Planet Hotel in Mekelle and was attended by distinguished guests, including Atsbeha G/Egziabher (PhD), Head of the Bureau …
Ethiopia: Wegagen Bank Launches Pre-Paid Visa International Payment Card Read More »
Ethiopian Airlines Group is set to harness its logistics hub to distribute products for AliExpress, the Chinese online retail giant. The official launch of AliExpress in Ethiopia will take place on August 22, 2024, at Skylight Hotel, Airport Road. Senior executives from both companies are expected to attend this significant event. AliExpress, part of the …
Ethiopian Airlines Partners with AliExpress to Boost E-Commerce in Ethiopia Read More »
Ethiopian Electric Power (EEP) has signed an agreement with Kurmuk Gold Mine Private Limited Company (Kurmuk PLC) to supply electricity for the mining company’s operations. The agreement was formalized in a signing ceremony attended by EEP’s Chief Executive Officer, Engineer Ashebr Balcha, and the General Manager of Kurmuk PLC, Broks Worku. The partnership is set …
Ethiopian Electric Power and Kurmuk Gold Mine Sign a 12-Year Agreement for Power Supply Read More »
The Ministry of Trade and Regional Integration has announced the organization of a national trade exhibition, set to take place from August 25 to 29, 2024, at its headquarters. The event, themed “Buy Ethiopian Products,” aims to raise awareness on trade and regional issues while fostering connections between consumers and sellers. The exhibition will feature …
Ethiopia: Ministry of Trade and Regional Integration to Host National Trade Exhibition Read More »
Amhara Bank has reported a pre-tax profit of Birr 377.2 million for the recently concluded fiscal year. Acting CEO, Chanyalew Demse, announced that the bank’s total deposits have reached Birr 25.1 billion, with Birr 20.3 billion disbursed as loans to various sectors, prioritizing financial access and inclusion. Amhara Bank has expanded its loan services to …
Ethiopia: Amhara Bank Reports Birr 377.2 Million Pre-Tax Profit Read More »
The Embassy of India in Addis Ababa in partnership with the Ministry of Agriculture of Ethiopia unveiled a report on the market study on Export Opportunities for Oil Seeds, Pulses, Cotton, Gemstones, and Coffee from Ethiopia to India. The report on the market study aims to shed light on the opportunities and mechanisms to address …
The National Bank of Ethiopia’s foreign exchange (FX) administration reform, implemented as part of the broader macroeconomic reforms, has significantly catalyzed the growth of financial institutions, Bank officials remarked. Banking industry officials asserted that the government’s macroeconomic reforms will significantly contribute to the nation’s economic growth. They emphasized that the National Bank’s adoption of a …
Banks in Ethiopia laud FX reform as key driver for financial sector growth Read More »