Ethiopian Takes Off $450m Loan From Citigroup

Radar

Debt Crisis in Focus as Central Bank Governor Visits China

Eyob Tekalegn (PhD), newly appointed governor of the National Bank of Ethiopia (NBE), made his first official overseas trip to China to discuss debt restructuring. He met with senior officials from China's Ministry of Finance, the People's Bank of China, and the Export-Import Bank of China, and is expected to hold talks with leading financial and commercial institutions. State media reported that the visit builds on the recent debt restructuring agreement with the Official Creditors Committee...

Blueprint for Safety, Builders Face Tough New Standards

Four key institutions in Ethiopia's construction sector signed an MoU at Skylight Hotel to address chronic safety lapses that cost lives and damage property. The deal brings together the Ethiopian Construction Authority, the Construction Management Institute, the Addis Abeba Construction Permit & Regulation Authority, and the Ethiopian Construction Work Contractors Association. Assistant Director Engineer Abebe Dinku warned that accidents persist despite booming activity, with 24,000 acti...

Licenses of Ten Auditors at Risk After Alleged Tax Irregularities

The Addis Abeba Revenue Bureau has asked the Accounting & Auditing Board of Ethiopia to revoke the licenses of ten accountants and auditors accused of preparing flawed taxpayer records during the 2024/2025 fiscal year. Officials say a preliminary audit uncovered irregularities that may have cost the government revenue. While disciplinary measures are yet to be confirmed, the Bureau said it would no longer accept financial statements signed by the professionals under scrutiny. Citing pr...