NBE Mandates Banks Erect Disaster Recovery Data Centre


NBE Mandates Banks Erect Disaster Recovery Data Centre

Last week, regulators at the National Bank Of Ethiopia (NBE) introduced a new directive that obliges commercial banks to build a recovery data centre. The directive dictates the data centre needs to be disengaged from the banks' primary IT centres, at least 120Km away from the main site. In the event that banks experience an incident that could have significant implications for their services or financial standing, their executives are required to inform the NBE's banking supervision directorate within two working days. Commercial banks are also required to automate their core business processes and make them interoperable with one another to ensure automated data sharing. All commercial banks are operating with a core banking system. Several banks are using systems supplied by Oracle, a software company based in the US. Core banking systems supplied by Temenos, a software company based in Switzerland, are also widely used. The NBE stipulates that banks must revise their IT risk management policies intermittently.

[ssba-buttons]

Radar

Somali Region Advances Budget Independence as Revenues Rise

Somali Regional State is moving closer to fiscal independence, with nearly half its budget now funded locally. Officials point to rising agricultural output and stronger tax enforcement as key drivers behind growing revenues. The region plans to cover 32.5 billion Br from its own resources in the upcoming fiscal year. Communication Head Mohammed Abdi credited last year's tax collection of 18 billion Br, exceeding the 17 billion Br target, to agriculture, khat, and other taxable goods. The reg...


Radar

Environmental Protection Authority Shuts Down Polluters

Addis Abeba's Environmental Protection Authority (EPA) has taken enforcement action against 3,249 manufacturers and service providers found violating environmental standards in the 2024/25 fiscal year. The violations, ranging from air and noise pollution to improper waste disposal, were identified during inspections of 14,872 businesses citywide. Penalties included warnings and closures, with shutdown orders issued to six plastic factories, 23 block factories, a soft paper plant, 102 nightclu...


Radar

Ministry Mandates Full Electronic Clearance for Top Taxpayers

Taxpayers under the Ministry of Revenues' Medium No. 1 branch will have to ditch paper filings and switch entirely to the e-Clearance system for non-audited services starting August 1, 2025. The mandate, routed through the Ministry's e-filing portal, is pitched as part of a broader push to modernise tax administration and advance the government's digital agenda. Officials say the platform lets users process clearance requests remotely via the Fayda national ID, cutting out manual paperwork. A...