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Central Bank Nods to Telebirr Credit Services

May 28 , 2022

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Regulators at the National Bank of Ethiopia (NBE) have given the go-ahead to Ethio telecom to launch a proposed micro-loan and credit scheme through its Telebirr mobile money platform. The state-owned operator has been launching a slew of products and services in recent months, ahead of pending competition from Safaricom Ethiopia Plc, which won an operators' license after bidding 850 million dollars last year. Earlier this month, Ethio telecom began piloting pre-commercial 5G network services. It also recently launched an online retail platform. Telebirr has facilitated transactions valued at close to 10 billion since it was launched last May. Safaricom Ethiopia was expected to begin commercial operations last month, but has yet to do so.

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Korenti, Agelegel Microfinance Ink EV Financing Deal

Korenti Auto Trading PLC has signed a strategic agreement with Agelegel Microfinance to provide accessible financing options for electric vehicle (EV) buyers. The partnership seeks to ease EV ownership by offering fair pricing and loan packages with affordable rates. The initiative supports Ethiopia's push for clean transport and aligns with national sustainability goals. Korenti's managing director said the move reflects the company's commitment to expanding electric mobility. Customers can now...

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NBE Leads Week-Long Bank Supervision Application Forum

The National Bank of Ethiopia (NBE) is hosting a week-long Bank Supervision Application (BSA) User Group meeting that began on July 7, 2025. The BSA system, developed by a pan-African consortium of central banks including the NBE, automates supervisory work for financial regulators. NBE will take over the rotating BSA chairmanship in September. Opening the session, Frezer Ayalew, Director of Bank Supervision, stressed the need for modern tools to handle growing regulatory demands amid cyberse...

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Six Fuel Companies Banned, Seven Warned, Authority Noted Illicit Activity

The Ethiopian Petroleum & Energy Authority has taken disciplinary action against 13 fuel distribution companies for illegally trading 2.8 million litres of fuel outside the digital system in the past two months. Six firms face a one-month suspension from the fuel import and trading market, while seven others received final warnings and must rectify their operations within a month. Director General Destawe Mekwanant (PhD) said the companies failed to monitor fuel stations and ensure proper...

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