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Aug 18 , 2024

Dashen Bank Launches Interest-Free Credit Platform

An interest-free credit service “IFB DubeAle” with up to 700,000 Br credit limit was availed last week. Powered by one of the largest private commercial banks, Dashen Bank, the platform which alig...

Aug 11 , 2024

Passport Fees Soar Amidst Economic Twists

Ethiopian citizens are facing higher costs for passport services following a recent fee hike implemented by the Immigration & Citizenship Services (ICS). The price of obtaining a new booklet or...

Aug 11 , 2024

Ministry Intensifies Crackdown on Price Gouging

Over 1,649 trucks laden with essential food items such as edible oil, sugar and rice have been imported, according to the Ministry of Trade & Regional Integration. Officials disclosed that while p...

Aug 11 , 2024

Dashen Bank Moves to Cushion Rising Travel Costs

A new card program offering financing options for travel expenses was availed last week. Dashen Bank has introduced two new card programs designed to cater to the needs of travellers and shoppers. The...

Aug 11 , 2024

Ministry Injects Billions in Revised Budget

Leaders from the federal institutions gathered at the halls of the Ministry of Finance on King George VI St. last week to overhaul the fiscal year's budget. A dramatic surge is on the cards, with an a...

AfDB Backs Dashen Bank with $40m for Trade Finance

Executives of Dashen Bank have secured a 40 million dollar transaction guarantee facility from the African Development Bank Group (AfDB). The funding is expected to boost import and export trade for S...

Aug 4 , 2024

Fed Secures 25m Grant, Loan for Green Development

A 25 million euro financing agreement to finance state projects such as Gebeta Letewled was signed last week. The agreement includes a 13.5 million euro grant and an 11.5 million euro soft loan aimed...

Aug 4 , 2024

Justice Minister Gedeon Advocates for Legal Professionals

Ethiopian lawyers are optimistic about potential tax relief after Justice Minister Gedeon Timotheos urged the Finance Ministry and Addis Abeba Revenue Bureau to allow deductions for business expenses...

Aug 4 , 2024

Ministry Maintains Ban on Fuel-powered Vehicles

The restriction on fuel-powered and three-wheeled vehicles would continue, according to Minister of Finance Ahmed Shide. The circular was rolled out following the Governor of National Bank of Ethiopia...

Aug 4 , 2024

Africa Foresees 400m Partnerships to Transform Lives

Africa is poised for a 400 million euro initiative on food security, small and medium-scale enterprise and infrastructure growth over five years. The initiative is announced by Italy's National Promot...

Aug 4 , 2024

Central Bank Orders Separate Commission Fees

Banks are required to cease the collection of fees, commissions, or other charges when selling foreign exchange to their clients, and include the percentage of the transaction value in the spread betw...

Aug 4 , 2024

Ethiopia Secures $1.5b in World Bank Aid to Propel Economic Reforms

The World Bank's board of executive directors has given the green light to a financial aid package for Ethiopia, to power the country's economic reforms and accelerate its economy. The support, combin...

Aug 4 , 2024

IMF Greenlights $3.4b Facility for Ethiopia

The International Monetary Fund (IMF) has approved a groundbreaking four-year arrangement, granting the country 2.55 billion in special drawing rights (SDR), roughly 3.4 billion dollars, under the Ext...

Jul 28 , 2024

Ethiopia Launches Ambitious Coding Initiative

An initiative to provide fundamental digital skills in programming, Android development, data science, and artificial intelligence to the youth was launched last week. The federal government has partn...

Jul 28 , 2024

Messebo Cement Eyes Recovery After Feasibility Study

Messebo Cement, one of the largest cement producers, is poised for an operational recovery following the completion of a feasibility study by Industrial Projects Services (IPS). The factory, which res...

Jul 28 , 2024

Logistics Giant Posts 8.9b Br Profit Amidst Global Turmoil

In the face of conflicts and global uncertainties, the state-owned logistics giant Ethiopian Shipping & Logistics has ended the year with 8.89 billion Br gross profit. It has garnered 57 billion B...


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