Central Bank Lifts Transfer Restrictions

Central Bank Lifts Transfer Restrictions

January 11 , 2022

The National Bank of Ethiopia (NBE) has removed the limits on bank transfers. Regulators restricted in January 2021, limiting account-to-account transfers to only five a week. The following month, they placed the same restriction on transfers via mobile and internet banking; using ATMs or POS machines, and mobile money. “The restrictions ha...

== The National Bank of Ethiopia (NBE) has remov...

Ministry Adjusts Fuel Prices

Ministry Adjusts Fuel Prices

December 8 , 2021

The Ministry of Trade & Regional Integration has revised the retail prices of petroleum products. Effective December 9, 2021, a litre of benzene will cost 31.74 Br at gas stations, up from 25.86 Br. A litre of diesel will see prices rise by nearly six Birr to 28.94 Br, while kerosene will retail for the same price. The new prices will...

== The Ministry of Trade & Regional Integrat...

Commission Revokes Duty-Free Privileges

Commission Revokes Duty-Free Privileges

December 6 , 2021

The Ethiopian Customs Commission has suspended duty privileges for travellers bringing personal items into the country. A circular sent to the Addis Abeba Airport Customs Branch Office last week states that travellers have been abusing the duty-free privilege granted by a directive issued by the Ministry of Finance in 2018. The directive exem...

The Ethiopian Customs Commission has suspende...

Central Bank Reinstates Collateralised Loans

Central Bank Reinstates Collateralised Loans

November 29 , 2021

The National Bank of Ethiopia (NBE) has lifted the freeze on collateralised loans. Regulators communicated their decision to commercial banks today, nearly four months after the freeze came into effect. The restriction has affected the economy and the demand for credit has increased in the last few months, according to Solomon Desta, vice govern...

The National Bank of Ethiopia (NBE) has lifte...

Ethiopia Receives IMF Debt Relief

Ethiopia Receives IMF Debt Relief

October 12 , 2021

Ethiopia is one of 24 low-income countries to receive the fourth tranche of debt relief from the IMF under the Catastrophe Containment & Relief Trust (CCRT) programme. The initiative is designed to help the poorest and most vulnerable members withstand the impacts of COVID-19. “This debt service relief helps free up scarce financial res...

Ethiopia is one of 24 low-income countries to...

Referendum Results: Ethiopia to See 11th Regional State

Referendum Results: Ethiopia to See 11th Regional State

October 9 , 2021

Over one million people in six zones of the Southern Regional State have voted in favour of forming the country's 11th regional state, to be named the Southwestern Regional State. The referendum was held at the end of last month, and nearly 94pc of the 1.3 million voters registered in the Bench Sheko, Sheka, Keffa, South Omo, and Dawro zones, as...

Over one million people in six zones of the S...

Parliament Approves New Cabinet, Incorporates Opposition Leaders

Parliament Approves New Cabinet, Incorporates Opposition Leaders

October 6 , 2021

Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

Lawmakers have approved today the nominations...