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Ethiopian Securities Exchange Appointsits Lead

Nov 4 , 2023

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A month after unveiling its board of directors, the Ethiopian Securities Exchange appointed Tilahun Kassahun (PhD) as its Chief Executive Officer during their first head-on meeting last week. Tilahun has specialised in law from the universities of Addis Abeba and Barcelona. He was a private sector specialist at the International Finance Corporation before joining the project office of the Securities Exchange as a manager. Chaired by Hilaway Tadesse, the board has assembled distinguished professionals including Eleni Gebremedhin (PhD) and Fikadu Petros. A 75pc ownership stake is given to the private sector with four state-owned enterprises – Ethio telecom, Ethiopian Shipping & Logistics (ESL), Ethiopian Insurance Corporation (EIC), and Birhana Selam Printing Enterprise (ESPE) taking the rest as founding members of the ESX.

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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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