Ethiopia Secures Safe Travel Stamp

Feb 6 , 2021


[ssba-buttons]

Ethiopia has been granted the safe travel stamp given to countries that have complied with Novel Coronavirus (COVID-19) health and hygiene protocols by the World Travel & Tourism Council.  The validation, a result of a collaboration between the government and the private sector in implementing protocols, is expected to further revive the tourism sector amidst the pandemic. The stamp is intended to restore confidence in travelers and revive global travel and tourism by allowing for easy identification of safe destinations.  The Ministry of Culture & Tourism along with Tourism Ethiopia, the Addis Abeba Hotel Owner's Association, the Hotel Marketing Association, and the Ethiopian Chef's Association, crafted the Ethiopian Tourism & National Safe Travel Protocol aimed at ensuring safe travel in the country in mid-2020. Prepared following international guidelines issued by the World Health Organisation (WHO) and the Centres for Disease Control (CDC), the Protocol has four broad sections of applicability. The first three focus on tour operators, attraction sites and hospitality establishments, while the remaining section is applicable to meetings, incentives, conferences & exhibitions (MICE). The Council was established in the 1980s with the aim of representing the travel and tourism sector globally; and prioritising security and travel facilitation, crisis preparedness and management, and sustainable growth.


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...