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USAID Donates $1.9m to Ethiopia

Mar 21 , 2020

The United States Agency for International Development (USAID) announced 1.9 million dollars of assistance to support Ethiopia’s efforts in the fight against the spread of COVID-19. USAID is working with the Ministry of Health and the Centers for Disease Control (CDC)  to support capacity building, preparation and response to the ongoing public health emergency related to COVID-19 in Ethiopia. It will assist Ethiopia in supporting information campaigns to inform the public reducing the risk of spreading the virus. It also trains healthcare workers on infection prevention and control measures and training for Ethiopian Airlines staff on how to recognise COVID-19 symptoms. It also pledged to donate personal protection equipment.

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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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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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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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