Red Cross Gets 268m Br in Six Months

Jan 25 , 2020


The Ethiopia Red Cross Society has gained a total of 268 million Br in the past six months of the current fiscal year. Out of the total, 135 million Br was secured from rental income, project income, and grants and donations. The remaining comes from regional branches generated from ambulance subsidy, membership fees, and government support, among other sources. Branches in Tigray, Oromia and Southern Nations, Nationalities, & Peoples' regional states generated 37 million Br, 35 million Br and 25 million Br, respectively. In the reported period, the Red Cross managed to give emergency response services to 335,188 people for 47 million Br. The institution is now on an aggressive campaign to expand its membership base and mobilise more resources from domestic sources to ensure organisational and financial sustainability, according to Meshesha Shewarega (PhD), the secretary-general.


Radar

Amendment Expands Access for Foreign Traders

Foreign participation in Ethiopia's wholesale, retail, import, and export trade sectors has come under renewed focus as the Ethiopian Investment Board(EIB) approved a significant amendment to Directive No. 1001/2016  in its meeting on May 23, 2025. The amendment, proposed by the Ethiopian Investment Commission(EIC), focuses on refining the legal framework governing foreign investment in these sectors. The decision is part of a broader strategy to enhance the country's appeal as an investment...


Radar

NBE Sets Four Percent Ceiling on Foreign Exchange Fees

The National Bank of Ethiopia (NBE) issued a new foreign exchange market directive on May 20, 2025, that caps commercial banks' forex service fees at a maximum of four percent. Banks are instructed to adapt competitive, transparent, and streamlined pricing for all forex-related services. Effective May 26, 2025, total charges for purchasing foreign exchange whether for imports, service payments, or cash note purchases must not exceed the newly set limit. The directive also prohibits banks f...


Radar

SantimPay Launches Zero-fee Digital Remittance Platform

SantimPay has rolled out FrankRemit, first fully integrated, zero-fee digital remittance platform, in partnership with Bank of Abyssinia(BOA). The service smoothly connects all commercial banks and major mobile money providers, including Telebirr, M-Pesa, and CBE Birr which is a first of its kind in the country. FrankRemit is expected to revolutionise how the Ethiopian diaspora sends money home. Developed locally and tested over the past two weeks with successful transfers from multiple count...