
Fortune News | Mar 06,2021
Aug 12 , 2021
The National Bank of Ethiopia (NBE) has ordered commercial banks to suspend all collateral-based loans, an unexpected measure communicated to executives through text message on August 11, 2021.
The suspension includes the disbursement of loans that have already been approved.
The text messages did not specify how long the suspension is to last. Neither are officials at the central bank forthcoming to explain the rationale behind their abrupt measure. The decision was made to curtail "economic sabotage," according to senior government officials.
Private commercial banks disbursed loans totalling 121.2 billion Br in the 2019/20 fiscal year while collecting 93 billion Br in repayment over the same period.
PUBLISHED ON
Aug 12,2021 [ VOL
22 , NO
1111]
Fortune News | Mar 06,2021
Fortune News | Feb 18,2023
News Analysis | Dec 16,2023
Fortune News | Mar 19,2022
Fortune News | Nov 12,2022
Radar | Nov 06,2021
Fortune News | Feb 05,2022
Radar | Apr 30,2021
Fortune News | Feb 19,2022
Dec 22 , 2024 . By TIZITA SHEWAFERAW
Charged with transforming colossal state-owned enterprises into modern and competitiv...
Aug 18 , 2024 . By AKSAH ITALO
Although predictable Yonas Zerihun's job in the ride-hailing service is not immune to...
Jul 28 , 2024 . By TIZITA SHEWAFERAW
Unhabitual, perhaps too many, Samuel Gebreyohannes, 38, used to occasionally enjoy a couple of beers at breakfast. However, he recently swit...
Jul 13 , 2024 . By AKSAH ITALO
Investors who rely on tractors, trucks, and field vehicles for commuting, transporting commodities, and f...
Jul 12 , 2025
Political leaders and their policy advisors often promise great leaps forward, yet th...
Jul 5 , 2025
Six years ago, Ethiopia was the darling of international liberal commentators. A year...
Jun 28 , 2025
Meseret Damtie, the assertive auditor general, has never been shy about naming names...
Jun 21 , 2025
A well-worn adage says, “Budget is not destiny, but it is direction.” Examining t...