Development Bank Approves 3b Br Loan

Jan 11 , 2020


[ssba-buttons]

The Development Bank of Ethiopia (DBE) approved 3.1 billion Br in loans during the first five months of the current fiscal year. Out of the total, 58.8pc of it is for the manufacturing sector while finance, agriculture and service sectors get 28pc, 6.6pc and 6.7pc of the total value, respectively. "The Bank achieved 81pc of its plan," said Haileyesyus Bekele, president of the Bank, to the Budget & Finance Standing Committee members of parliament who visited the Bank last week. In the reported period, the Bank was also able to collect 3.9 billion Br, which was 118pc of the target, according to the president.


Radar

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...


Radar

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...


Radar

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...