March 29
Ethiopia: From Shadows to Spotlight - Why Ethiopia Became Latest Scene for Cryptocurrency Rush
In the heart of East Africa, a surprising powerhouse is rising in the world of cryptocurrency. Read more »
March 26
Ethiopia: Commercial Bank of Ethiopia Recovers 78 Percent of 801.4 Million Birr Lost in System Glitch: President Abe Sano
Abe Sano, President of the state-owned Commercial Bank of Ethiopia (CBE), announced this morning that the maximum amount of money vulnerable to theft during the recent "system… Read more »
October 24, 2023
Ethiopia: Banking Services Remain Absent in War-Torn Tigray Region Despite Peace Deal
People in Irob, a northeastern district of Tigray, have been facing the absence of banking services since the war broke out between the federal government and the Tigray Liberation… Read more »
August 18, 2023
Ethiopia: Visa Launches New Initiatives to Support Fintech Start-Ups, Women Entrepreneurs in Ethiopia
Regional President for Central and Eastern Europe, Middle East and Africa Andrew Torre emphasizes Visa's commitment to expanding digital payments in Ethiopia by working closely… Read more »
July 26, 2023
Ethiopia: CBE Stands Tall With Its Deposit Surpassing the One Trillion Birr Mark
Commercial Bank of Ethiopia (CBE) said it has made a remarkable achievement in the 2015 Ethiopian fiscal year, as its exceptional success saw its deposits soar to an astounding 1.1… Read more »
June 22, 2023
Ethiopia: NBE Edges Toward Issuing Banking Licenses to Foreign Investors, Cautions Local Banks
The National Bank of Ethiopia (NBE) said that it is on the verge of issuing banking licenses to foreign investors as part of the government's intention to open up the financial… Read more »
June 16, 2023
Ethiopia: Ethiopia Indicates Insurance Industry's Probable Opening for Foreign Firms
Following years of speculation, the National Bank of Ethiopia (NBE) announced their intention of allowing foreign insurers to operate in the country after the creation of an… Read more »
April 25, 2023
Ethiopia: Change Is Coming to Ethiopian Banking
In early April, when KCB Group announced they are undergoing talks to acquire stakes in Ethiopian lenders, it was easy to sense a feeling of déjà-vu. The second… Read more »
April 14, 2023
Ethiopia: World Bank Tells Ethiopia to 'Remove Macroeconomic Distortions' to Help Slow Inflation, Unlock Investment
Today, World Bank Group President David Malpass met with Ahmed Shide, Minister of Finance of Ethiopia. Read more »
February 06, 2023
Ethiopia: Central Bank Sends Cash to Banks in Tigray As Liquidity Crisis Cripples Services
The National Bank of Ethiopia (NBE) has begun distributing 5 billion Birr ($90 million) to banks in the Tigray region to enable them resume their much needed services amidst… Read more »
December 21, 2022
Ethiopia: CBE Resumes Banking Services in Three Tigray Cities, but Access to Savings, Cash Withdrawal Off Limit
Commercial Bank of Ethiopia (CBE) said it has reopened branches and resumed banking services in Shire, Alamata and Korem, allowing people to deposit money and receive funds sent to… Read more »
December 20, 2022
Ethiopia: Fitch Downgrades Ethiopia to 'CCC-' - Removes From Under Criteria Observation
A full list of rating actions is at the end of this rating action commentary. Read more »
November 18, 2022
Ethiopia: Partnership Between Oromia Bank, Ethswitch Sees Mastercard Withdrawals Kick Off in Ethiopia
For the first time, Mastercard debit, credit and prepaid cards are accepted in Ethiopia. The news follows partnerships between the financial services giant and two Ethiopian… Read more »
November 12, 2022
Ethiopia: Commercial Bank Restores Banking Services in Seven Branches in Western Tigray
Commercial Bank of Ethiopia announced that it has restored banking services in seven branches in Western Tigray which is currently under the occupation of the Amhara Region, where… Read more »
August 06, 2022
Ethiopia: State Telecom Giant Launches Three Digital Financial Services With Dashen Bank
State owned telecom giant, Ethio-Telecom, in collaboration with Dashen Bank, has on Friday launched three different digital finance services under the motto "Financial Service for… Read more »
July 27, 2022
Ethiopia: Oromia Bank Selects CR2's Bankworld to Advance Digital Banking Transformation Strategy
Oromia Bank has selected CR2, one of the world's leading software vendors in the digital banking and payments market, to accelerate and transform its digital banking strategy in… Read more »