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Capital Hosts Fashion Week

Nov 11 , 2023

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Over 300 exhibitors gathered in the capital to showcase domestically manufactured products under the "Made in Ethiopia" theme last week. Melaku Alebel, Minister of Industry, revealed that policy reforms are fashioned to respond to domestic and international trade changes to support local manufacturers. He indicated vital national initiatives to develop specialised economic zones and improved trade logistics services. The British and German governments have supported 20 textile and leather firms under the Sustainable Industrial Clusters (SIC) project,  connecting international buyers and domestic manufacturers through the platform. The four-day event covered discussions, exhibitions and a tour of Ethiopian textile and apparel manufacturing sites. Africa Sourcing and Fashion Week (ASFW) 2023 garnered 5,000 participants from 50 countries at the Skylight Hotel (Airport Road).

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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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