AfDB Backs Dashen Bank with $40m for Trade Finance


Executives of Dashen Bank have secured a 40 million dollar transaction guarantee facility from the African Development Bank Group (AfDB). The funding is expected to boost import and export trade for Small and Medium-Sized Enterprises (SMEs) and local corporations and contribute to the implementation of the African Continental Free Trade Area (AfCFTA) by promoting intra-Africa trade. Asfaw Alemu, CEO of Dashen Bank, praised the value of supporting SMEs in sectors such as agriculture and manufacturing. He said the partnership with AfDB is a substantial step in their effort to become an industry leader. "This is instrumental in expanding our trade services regionally," he said. Dashen is one of the leading commercial banks in the country. The AfDB will provide a full guarantee to confirming banks for non-payment risks arising from Letters of Credit and similar trade finance instruments issued by Dashen Bank. According to Nnenna Nwabufo, AfDB Director General for East Africa, trade finance is crucial for economic growth and cross-border trade, especially in emerging markets. "We are thrilled to partner with a leading institution with deep knowledge of the Ethiopian market," she said


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Parliament Reviews Bill Allowing Foreign Property Ownership

A draft proclamation that would allow foreigners to own or occupy immovable property in Ethiopia has been submitted to parliament by the Council of Ministers. Designed to attract foreign investment, the draft law plans to ensure that Ethiopian citizens retain their right to land ownership and use. According to a statement from the Prime Minister's Office, the draft was among six agenda items discussed and approved during the Council's regular session held on May 2, 2025. The proclamation is e...


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Speeding in the Spotlight as New Safety Drive Begins

The Road Safety and Insurance Fund Service has stated that drivers are responsible for 68 percent of traffic accidents in Ethiopia, with the remainder mainly caused by pedestrians and road conditions. On this topic, the service launched a one-month mass media campaign on last week focused on raising awareness about speeding, the leading cause of traffic accidents. The campaign, under the motto "Slow Down, Speeding Ruins Lives," plans to shed light on the dangers of speeding. Yohannes Lemma, E...


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Askari Metals Secures Five Gold Licenses in Untapped Adola Belt

Askari Metals has acquired 100pc of Rift Valley Metals, gaining five gold exploration licences covering 460sqkm in Ethiopia's Adola Greenstone Belt, part of the southern Arabian-Nubian Shield, a mineral-rich but underexplored region. "The exploration areas—Sakaro, Sakaro West, Lega Dembi South, Megado, and Wayu Boda—lie near Ethiopia's top gold mines, including Lega Dembi and Sakaro, which have produced over three million ounces of gold. The area is known for orogenic gold systems hosted...