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Jul 21 , 2024

Ministry Secures $86m Grants

An 86.18 million dollar grant agreement was signed between the Ministry of Finance, UNICEF and UNFPA last week to support the agencies' ongoing country programs for the fiscal year. Out of the tota...

Authority Reports Fuel Import Stats

Ethiopian Petroleum & Energy Authority (EPA) disclosed that 3.2 million tons of fuel were imported into the country during the last fiscal year. The figure includes 2.04 million tons of diesel and...

Jul 21 , 2024

Commercial Bank Collects $3.2b in Foreign Currency

The Commercial Bank of Ethiopia (CBE) announced robust performance in foreign currency collection for the past fiscal year, achieving 3.2 billion dollars in total mobilisation. This includes 2.07 bill...

Jul 21 , 2024

Farmers Embark on New Digital Platforms

New platforms were launched to connect smallholder farmers with potential buyers and improve the distribution of agricultural inputs, ensuring efficient and transparent delivery of fertilisers, improv...

Jul 21 , 2024

Ethiopia Attracts $3.8b Foreign Investment Despite Export Setbacks

Ethiopian Investment Commission (EIC) secured a substantial increase in foreign direct investment (FDI) during the ended fiscal year, amidst declining export earnings from industrial parks. Commiss...

Jul 21 , 2024

Ethiopia, UAE Sign Currency Swap Deal

An agreement that allows the exchange of loans and interest payments between Birr and Dirham, Emirates' national currency, has been signed between the National Bank of Ethiopia (NBE) and the Central B...

Jul 21 , 2024

Ethiopian Chamber Makes Comeback with New Leadership

Ethiopian Chamber of Commerce & Sectoral Associations' (ECCSA) long-awaited general assembly elected Sebsib Abafira from the Oromia Chamber and Aynalem Abayneh (PhD), a former board member from th...

Jul 13 , 2024

Ethiopia's Central Bank Dips a Toe in the Open Market Waters

In a historic move to manage liquidity within the banking system, the National Bank of Ethiopia (NBE) held its first-ever open market operation (OMO) on July 11, 2024. The auction drew notable interes...

Jul 13 , 2024

CBE Shatters Profit Record at 25.6B BR

The state-owned Commercial Bank of Ethiopia (CBE) registered a record-breaking 25.6 billion Br in gross profits for the ended fiscal year, driven by aggressive cost-cutting measures. While CBE face...

Jul 13 , 2024

Ethio telecom Dominates Industry with Expanding Profits, Coverage

The state-owned teleco company netted 21.7 billion Br in the financial year, posting a 21.7pc jump in revenues to 93.7 billion Br from last financial year. While it has not enjoyed a monopoly since th...

Jul 13 , 2024

Fuel Prices Rise as Shortages Linger

Drivers will face higher costs at the pump after the Ministry of Trade & Regional Integration announced adjustments to fuel prices. The changes, effective last week, reflect rising global fuel pri...

Jul 13 , 2024

Bankers Association Re-elects Leadership Team for Second Term

Ethiopian Bankers Association (EBA) re-elected its leadership a fortnight ago, making Abie Sano, president of the Commercial Bank of Ethiopia (CBE), its president. Asfaw Alemu, president of Dashen Ban...

Jul 13 , 2024

Brewery Launches Livelihood Improvement Projects

Around 75,000 individuals in Addis Abeba City and Oromia Regional State will benefit from a 25 million Br skills training program aimed at economic empowerment. Heineken Ethiopia partnered with Mahber...

Jul 13 , 2024

Authority Delists over 250 CSOs for Failing to Report

Ethiopian Bar Association, Ethiopian Society for Consumer Protection and 253 other civil society organisations were dissolved last week for failing to submit their annual reports and re-register by th...

Jul 7 , 2024

E-Consultation Portal Launched to Boost Stakeholder Engagement

An e-consultation manual and portal designed to enhance stakeholder engagement in the drafting of laws before their final ratification stage was launched last week. Developed by the Business Enviro...

Jul 7 , 2024

Trade Ministry Changes Guard

Prime Minister Abiy Ahmed (PhD) made a series of appointments last week, assigning Kassahun Goffe (PhD) as the new Minister of Trade & Regional Integration. Kassahun, who previously served as the...


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