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Awash Bank, M-PESA Launch Digital Overdraft Service

Awash Bank, M-PESA Launch Digital Overdraft Service

Awash Bank has partnered with M-PESA Ethiopia to introduce "Errif be M-PESA," which means "rest with M-PESA" in Amharic. This digital overdraft service allows users to complete transactions even when their wallet balances are insufficient. Launched through a strategic agreement, this initiative is directed towards expanding access to digital savings and credit. Awash Bank's CEO, Tsehay Shiferaw, emphasised the bank's commitment to investing in technology-driven financial services. Meanwhile, M-PESA's CEO, Elsa Muzzolini, remarked the partnership's role in promoting financial inclusion through data-driven lending. By combining Awash Bank's banking infrastructure with M-PESA's mobile platform, this collaboration seeks to enhance access to financial tools for underserved communities.

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NBE Expands Diaspora Warning Over Unlicensed Remittance Firms

The National Bank of Ethiopia (NBE) has issued an expanded public warning targeting unlicensed remittance operators abroad, flagging four U.S.-based companies it says are undermining Ethiopia's financial regulations. The warning includes newly disclosed findings and specific cases that underscore growing concerns about illicit cross-border financial activity. Remittance flows remain a vital lifeline for Ethiopia's economy, supporting households and supplying critical foreign currency. But as...

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Stricter Standards Unveiled for Public Auditors, Accounting Firms

The Accounting & Auditing Board of Ethiopia (AABE) has issued a new directive aimed at strengthening oversight and professional standards in the accounting and auditing sector. Grounded in the Financial Reporting Proclamation, the directive addresses long-standing regulatory gaps while preparing the sector for the country's emerging capital market. Key provisions introduce stricter licensing standards for public auditors, professionals permitted to audit public interest entities. Applican...

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Export Recovery Gains Ground, Industry Still Lags Potential

The Ministry of Industry (MoI) has reported a modest rebound in Ethiopia's manufacturing exports, with revenues climbing eight percent in the 2025 fiscal year to reach 318 million dollars. Minister Melaku Alebel attributed the growth to a gradual sectoral recovery but acknowledged the figures remain well below the country's industrial potential. Speaking at a forum held with 60 top-performing manufacturers, Melaku said the ministry is working to unlock bottlenecks and improve coordination. Th...

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