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Seregela's Inauguration, Finally

Adanech Abiebie (right), deputy mayor of Addis Abeba, attended the official inauguration of one of the several new taxi services that have popped up in the past few years, Seregela.

Seregela's Inauguration, Finally

Adanech Abiebie (right), deputy mayor of Addis Abeba, attended the official inauguration of one of the several new taxi services that have popped up in the past few years, Seregela. Talking here to Elias Negash, founder of the taxi services, the inauguration took place at the Hyatt Regency on December 25, 2020. Already in service for over three months, it is catered toward female users and has become distinctive for the Suzuki sedans used by its drivers.

Radar

Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...

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Radar

NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...

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Radar

SantimPay Launches Zero-fee Digital Remittance Platform

SantimPay has rolled out FrankRemit, first fully integrated, zero-fee digital remittance platform, in partnership with Bank of Abyssinia(BOA). The service smoothly connects all commercial banks and major mobile money providers, including Telebirr, M-Pesa, and CBE Birr which is a first of its kind in the country. FrankRemit is expected to revolutionise how the Ethiopian diaspora sends money home. Developed locally and tested over the past two weeks with successful transfers from multiple count...

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